Brits hurt by most ‘unfriendly’ mortgage market in the world: lending boss October 22, 2023 The UK's mortgage market is one of the most "consumer unfriendly" markets in the world due to the prevalence of short term deals, boss of new mortgage lender Perenna told City PM.
Lloyds, Natwest and Barclays in for a ‘tough quarter’ as pressure on interest income persists October 22, 2023 n results for the second quarter both Natwest and Barclays UK lowered their forecast for the full-year NIM on the back of an increasingly competitive deposit and mortgage market.
Bank of England governor Andrew Bailey predicts drop in inflation allaying recession fears October 20, 2023 UK inflation is set to drop markedly for October amid continued efforts to tackle the higher cost of living, the governor of the Bank of England has said. Andrew Bailey indicated inflation will return to its recent pattern of slowdowns after the Office for National Statistics (ONS) recorded a surprise pause last month, leaving inflation [...]
US banks flag concerns over commercial real estate as debt distress reaches highest level in a decade October 19, 2023 The largest lenders in the US have been building their loss provisions in case loans to the commercial real estate sector turn sour over the coming months.
Lloyd’s of London warns major cyber attack on payments could cost world $3.5 trillion October 18, 2023 A major cyber attack on a financial services payments system could cost trillions, Lloyd's has found, as demand for cyber insurance booms.
Morgan Stanley profit dips as struggles with investment banking slowdown continues October 18, 2023 Morgan Stanley reported a fall in profit as an increase in bad loan provisions and a higher wage bill offset a strong performance from the bank's wealth management arm.
HSBC cracks down on texting as regulators probe unauthorised communications October 18, 2023 The texting ban will reportedly apply across the firm, with HSBC already having blocked staff from using WhatsApp on work phones.
Morgan Stanley locked in secret London court battle to seize Russian oil firm October 18, 2023 Morgan Stanley is locked in a secret London court battle as part of an attempt to seize ownership of an oil firm in southern Russia on behalf of a group of Russian lenders, City PM has learned.
Goldman profit down over a third as boss David Solomon hopes for ‘recovery’ in dealmaking October 17, 2023 Investment banking fees climbed one per cent thanks to an improvement in revenue from debt and equity underwriting.
Goldman boss David Solomon retires high-profile DJ persona October 17, 2023 The Goldman boss, 61, decided to stop DJing a year ago and has not appeared at a notable event since Lollapalooza in Chicago last July.
