Roadside recovery firm AA banks on £218m private equity rescue: Stock crashes 86% since listing By Matt Oliver For The Daily Mail Published: 22:07 GMT, 23 November 2020 | Updated: 22:07 GMT, 23 November 2020 The AA looks set to end its disastrous run on the stock market after bosses said they were prepared to … Read more
Boss of Lloyds Banking Group on track to receive shares windfall just as he bows out of lender By Emma Dunkley, Financial Mail On Sunday Published: 21:54 GMT, 21 November 2020 | Updated: 21:54 GMT, 21 November 2020 The boss of Lloyds Banking Group is on track to receive a shares windfall just as he … Read more
Blow for loyal savers as plan for minimum interest rates is scrapped by banking regulator Plans to protect loyal savers with a minimum interest rate have been shelved FCA announced earlier this year that it planned to shake up the savings market Move would have required every bank and building society to pay a blanket … Read more
I have an account with Halifax in Chesterfield. My niece registered Power of Attorney (POA) over my financial affairs in April. She needed a debit card as she was taking care of my shopping during the first lockdown. All subsequent correspondence and papers were issued in the name of J. Jones, which is neither her … Read more
Nationwide rules out charging customers for everyday banking after holding secret review By Emma Dunkley And Helen Cahill, Finacial Mail On Sunday Published: 21:52 GMT, 31 October 2020 | Updated: 21:52 GMT, 31 October 2020 Nationwide has ruled out charging customers for everyday banking after holding a secret review. Britain’s biggest building society is understood … Read more
Is this the end of ‘free’ banking and who is winning the current account switching battle? The This is Money podcast By This Is Money Published: 17:15 GMT, 30 October 2020 | Updated: 17:15 GMT, 30 October 2020 Murmurs from HSBC HQ this week warned that an overhaul of its business model could leave customers … Read more
‘It’s the end of free banking, as we know it,’ I sang to myself in the style of R.E.M earlier in the week. A perfect storm is brewing which could potentially see more and more customers charged a monthly fee for having a current account. This is a blend of coronavirus, a crackdown in overdraft … Read more
Stark warning from boss of Virgin Money: End of free banking if rates go negative By Helen Cahill, Financial Mail On Sunday Published: 21:51 BST, 17 October 2020 | Updated: 21:51 BST, 17 October 2020 The boss of Virgin Money has warned that banks could start charging for basic services if interest rates turn negative. … Read more
The concept of negative interest rates – where debtors are rewarded and thrift is punished – sounds far too crazy to be a serious policy measure. Until, that is, you consider that the biggest borrowers are governments, not least our own. Public borrowing has ballooned due to coronavirus and pushed the prospect of negative rates … Read more
Banking giant Investec has confirmed plans to axe 210 jobs from its London headquarters amid a ‘challenging economic backdrop’. The firm said it will slash around 13 per cent of roles in the capital in order to help ‘simplify and focus the business’ amid the pandemic. Investec added its performance in the five months to … Read more