Lloyds Bank shares edge up despite £800m motor finance hit October 13, 2025 Lloyds Banking Group has taken a swipe at the City watchdog after being forced to hike its provisions for the motor finance scandal to £2bn. The banking giant said the redress scheme was not proportional or reasonable in ensuring customers were rightly compensated and it did not reflect the “actual loss” of borrowers. It added [...]
Legal & General eyes bid for Natwest pension provider October 11, 2025 Legal & General is eying a bid for Natwest’s pension provider Cushon as the financial services giant looks to beef up its segment in the retirement market. The FTSE 100 giant is among a handful of potential buyers who have expressed interest in acquiring Cushon. Such a deal with Legal & General would thrust the [...]
Close Brothers shares plunge on new ‘material’ motor finance hit October 9, 2025 Shares in FTSE 250 lender Close Brothers sank on Thursday after the firm said it expects to increase its provisions for the motor finance scandal. The bank – which has a £9.5bn loan book with over 20 per cent car finance loans – sunk nearly ten per cent to 472.60p. It follows the Financial Conduct [...]
JP Morgan warns on AI bubble amid Bank of England caution October 9, 2025 JP Morgan boss Jamie Dimon has joined the chorus of warnings over an AI-driven market boom that some fear could go the way of the dot-com crash. Speaking from Bournemouth, where the bank announced a £350m investment in its local campus, Dimon described himself as “far more worried than others” about a serious market correction [...]
Natwest hires top tech talent amid UK innovation push October 9, 2025 NatWest had doubled down on its support for the UK’s high-growth and innovation economy with two senior strategic hires in its newly formed venture banking team. Greg Brown has joined as head of venture capital coverage, and Kim Martin has stepped in as head of venture and growth finance, reflecting the bank’s renewed push to [...]
HSBC shares sink on play to take control of Hong Kong bank October 9, 2025 HSBC shares tumbled on Thursday morning as the bank laid out plans to suspend its buyback program in order to buy out minority shareholders in Hong Kong’s Hang Seng Baak. The FTSE 100 banking juggernaut has offered to pay HK$155 per share for the 36 per cent not already owned by the bank. The proposal [...]
Lloyds Bank set to increase motor finance provisions October 9, 2025 Lloyds Banking Group said on Thursday morning it would “likely… be required” to hike its motor finance provisions following further updates on the regulatory redress scheme. The FTSE 100 banking titan – which owns the UK’s largest motor finance lender Black Horse – currently leads the pack for £1.2bn in provisions. The Financial Conduct Authority [...]
Motor finance lenders gear up for ‘forensic test of discipline’ over redress scheme October 8, 2025 The Financial Conduct Authority has softened the motor finance blow for lenders but experts say firms won’t be able to shift into a new gear just yet. The City watchdog has priced the cost of its industry-wide redress scheme at £11bn – a hefty sum but far below the eye-watering £44bn previously floated. Just over [...]
JP Morgan beefs up seaside UK office as it backs ‘talent of tomorrow’ October 8, 2025 US banking juggernaut JP Morgan has announced a hefty UK investment as part of plans to beef up its home base in the country. The bank said it will invest over £300m into its Bournemouth campus, which will help facilitate a new building and upgraded facilities for the sites 5,300 employees. The firm – which [...]
Motor finance: Lloyds, Barclays shares jump as FCA softens blow October 8, 2025 Shares in motor finance lenders rallied on Wednesday morning after the Financial Conduct Authority dropped a major update on its industry-wide redress scheme. Lloyds Banking Group – which owns the UK’s largest motor finance provider, Black Horse – was up over two per cent to 85.06p. Meanwhile, Close Brothers, which just last week set aside [...]
