Revolut has secured a UK banking licence, marking the end of the fintech giant’s three-year wait for approval to operate as a bank in its home market. A licence means the company will be able to hold customer deposits, and offer lending products like credit cards, personal loans, or mortgages. TheContinue Reading
Lloyds has revealed its earnings dipped this year as the banking giant generated less income despite borrowing costs remaining higher. The banking group, which also includes Halifax and Bank of Scotland, said it made a pre-tax profit of £3.3 billion in the first six months of the year. This marksContinue Reading
The FTSE 100 dipped on Wednesday as a sell-off in tech stocks knocked Wall Street and luxury firms also finished lower. Burberry was among London’s fallers after the luxury sector was weighed down by lower-than-expected sales at French powerhouse LVMH (Louis Vuitton Moet Hennessy). Elsewhere in the City, housebuilders wereContinue Reading
Unions have warned ministers to act on a “window of opportunity” to end looming bin strikes after council leaders voted to ask the Scottish Government for additional money. Cosla, the body which represents Scotland’s 32 local authorities, agreed the decision at an emergency meeting on Wednesday. It comes as wasteContinue Reading
ScottishPower said its earnings fell 11% in the first half of the year to just over £1 billion, after an energy crisis allowance payment in 2023 from Ofgem was not repeated this year, affecting its bottom line. The company saw significant gains in its network and renewables arms, while earningsContinue Reading
Pub group Marston’s has revealed the Euro 2024 tournament delivered a boost to sales as fans flocked to venues to support the England football team in the final. The company, which runs about 1,370 pubs across the UK, said the football lift came after a period of wet weather putContinue Reading
Aston Martin’s losses deepened in the first half of 2024, as the luxury car-maker ringfenced more than £2 billion to help it switch to electric cars and said its incoming chief executive will join earlier than planned. The British company delivered just 1,998 cars in the first half of 2024,Continue Reading
Santander UK has seen half-year profits slump by almost a third after being knocked by shrinking mortgage lending and higher savings rates, but is hoping for a boost from “tailwinds” over the final six months. The Spanish-owned high street lender reported a 31% drop in pre-tax profits to £804 millionContinue Reading
The Energy Department (DESNZ) could miss its 2030 carbon capture target, the National Audit Office said. Carbon capture and storage (CCUS), which involves catching carbon and burying it underground, is central to Government plans to reach the UK’s legally binding net zero target by 2050. The technology is seen asContinue Reading
Sir Keir Starmer has told business chiefs the Government is “ripping out the red tape” to allow construction of warehouses, roads and power grid connections. The Prime Minister hosted chief executives in Downing Street, telling them a partnership between the public and private sector was needed to “rebuild Britain together”.Continue Reading
