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Lloyds Banking Group’s profits slump 95% as the Covid-19 crisis mounts

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Lloyds Banking Group saw its first quarter profits practically wiped out as the financial impact of the coronavirus pandemic mounts.  The bank. which is Britain’s biggest lender, saw its first quarter profits plummet by 95 per cent, from £1.6billion to £74million.  The lender has been forced to set aside a whopping £1.43billion to cover the … Read more

Pressure on Bank of England bosses mounts as inflation falls

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The cost of living is likely to keep easing up as Britain’s economy falters, according to economists tracking the financial toll of the coronavirus pandemic. Inflation could fall to 0.5 per cent over the summer, Howard Archer, chief economist at the EY Item Club, claims. This is well below the Government’s 2 per cent target.     … Read more