Bank of England says lenders to be put through mini budget-style shock tests November 10, 2023 It is intended to replicate some of the chaos and more which was unleashed on markets last autumn after Liz Truss and Kwasi Kwarteng revealed their budget and other moments of turmoil.
Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
HSBC to buy back $3bn in shares as profits more than double October 30, 2023 HSBC announced yet another share buy-back programme as higher interest rates ensured that profit more than doubled in the third quarter.
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.
Six high-street banks including Santander, Barclays, HSBC, NatWest and Lloyds given ‘red’ warning over eco policies October 5, 2023 Six of the UK’s biggest high-street banks have been placed in a “red” warning category by consumer champion Which? over their fossil fuel investments and commitments to tackling climate change. JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were exposed for having too weak green credentials. Just three of the UK’s [...]
Interest rates: no rise will be ‘welcome pause’ for banks September 25, 2023 The Bank of England's decision to leave interest rates on hold last week will come as a "welcome pause" to the UK's high street banks, analysts said.
Public firms could be allowed to extract £50bn from staff pension schemes in bid to boost investment August 21, 2023 Public firms could be permitted to withdraw up to £50bn from staff pension schemes if government plans for a sweeping shake up of the industry’s rules go ahead. Returns on investments in government bonds – known as gilts – have seen workplace pension schemes go from being well in the red to significantly cashed up [...]
Ranked: The best banks for customer service? Monzo and Starling steam ahead August 15, 2023 Which banks are the best for customer service? A new official ranking has been produced by the consumer regulator
Brokers predict ‘mortgage price war’ as lenders including HSBC and Nationwide cut rates again August 9, 2023 Brokers have suggested there could be a “mortgage price war” as lenders continue to reduce rates amid hopes inflation is finally on the way down. Nationwide reduced prices on some of its fixed products by up to 0.55 percentage points while HSBC reduced rates by up to 0.2 percentage points. TSB also lowered rates by [...]
HSBC’s top lobbyist apologises for slamming UK’s tougher stance on China August 7, 2023 A senior HSBC exec has apologised after accusing the UK of being 'weak' by responding to American pressure to toughen its stance on China.
