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Financial
NatWest Post Profit for Q3 2020, CEO Warns of Challenging Times Ahead
October 31, 2020 12:49 AM AEDT| By Kunal SawhneySummary NatWest reported a pre-tax profit of £355 million for Q3 2020 and a profit attributable to shareholders of £61 million The net interest margin of 1.65 per cent was 2 basis points lower than the previous quarter The impairme.....
Standard Chartered and HSBC witness a slump in profits
October 30, 2020 07:17 PM AEDT| By Team Kalkine MediaSummary Standard Chartered reported a 40 per cent fall in its underlying profits during the Q3 of 2020. HSBC reported a 46 per cent decline in its reported profit after tax for Q3 2020. Lower interest rates continued to impact StanChart’.....
Two FTSE Listed Small Cap Stocks Trending on LSE: Augmentum Fintech and Vast Resources
October 28, 2020 03:54 AM AEDT| By Team Kalkine MediaSummary Augmentum Fintech Plc's NAV per share increased by 6.50 pence in FY20. Company has announced the fundraising of £28 million. Vast Resources Plc raised £1.75 million through the placement of new shares. Port delivery of cop.....
HSBC Indicate Dividend Payment amid Regulators Consideration of Letting Banks Pay Dividend
October 28, 2020 12:14 AM AEDT| By Kunal SawhneySummary Industry regulators might allow banks to recommence shareholder returns from next year provided their loss-absorbing capital buffer remains intact Adequate capital against risk weighted assets and increased lending has been made pre-req.....
L&G exits personal investing business, sells it to Fidelity
October 27, 2020 03:15 AM AEDT| By Team Kalkine MediaSummary Legal & General Group has agreed the sale of its personal investing business arm to Fidelity International. The deal worth £6 billion could bring in a change in the account administration. The deal between L&G and Fidelit.....
Barclays Beats Profit Forecasts but Warn of Potential Cost Cuts Due to Covid-19 Impact
October 26, 2020 11:41 PM AEDT| By Team Kalkine MediaSummary Barclays reported £1.1 billion in pre-tax profits during the third quarter of 2020 The impairment charges in the second half of 2020 are expected to be lower than the first half, and in 2021 be lesser than in 2020. Barclays des.....
Should UK Fintech Firms Eye Middle East Market After Paymentology Enters UAE?
October 25, 2020 06:32 PM AEDT| By Kunal SawhneySummary UK-based fintech firm Paymentology has forayed into the Middle East by setting up its regional office in Dubai MENA region’s digital payments market has reached $200 billion in 2020 UAE has created free economic zones in the coun.....
Latest Business Updates Unveiled by London Stock Exchange Group PLC
October 25, 2020 03:27 AM AEDT| By Kunal SawhneySummary London Stock Exchange Group Plc reported a revenue increase of 2% year on year in Q3 FY20. The proposed acquisition of Refinitiv is in good shape. London Stock Exchange Group Plc (LON: LSE) is the LSE listed stock in the financial .....
1MDB Fraud Case: Goldman Sachs to pay $2.9 billion in settlement charges
October 25, 2020 03:19 AM AEDT| By Kunal SawhneySummary Goldman Sachs's Malaysian subsidiary has to pay $2.9 billion in settlement charges for the 1MDB fraud case Hollywood movie “The Wolf of the Wallstreet” apparently was funded with the siphoned money About $4.5 billion were s.....
Metro Bank's Q3 Lending Surpasses Its Reserve Requirements led by BBLS Loans
October 23, 2020 08:51 PM AEDT| By Team Kalkine MediaSummary Metro Bank in its Q3 results has reported that its lending has risen by 2 per cent for this quarter Metro Bank stated that the increase in the number of loans availed was due to the government's Bounce Back Loan Scheme (BBLS) The numbe.....
Legal & General to Fund Oxford University Innovation Centre
October 22, 2020 03:12 AM AEDT| By Team Kalkine MediaSummary Legal & General will be funding the development of a new sciences building with the University of Oxford worth £200 million The construction of the Life and Mind Building, which is due to begin in July 2021, is expected to ope.....
UK Banks Looking to Increase Lending Rates on Credit Cards
October 17, 2020 05:58 PM AEDT| By Hina ChowdharySummary The latest survey by BoE has found that banks in the country had increased the cost of consumer loans in the third quarter of the year and are likely to follow the suit in the fourth quarter. The rate increase has been done on credit ca.....
FTSE bank shares to remain in focus amid BoE’s negative interest rate talks
October 16, 2020 07:33 PM AEDT| By Team Kalkine MediaSummary The notion of negative interest rates in the UK has been under deliberations as the government and the Bank of England want to revive the ailing economy The London-headquartered banking behemoth HSBC Holdings will remain in focus with t.....
Legal & General’s Asset Management Arm Pledges to Be More Rigid Towards Climate Change
October 15, 2020 09:11 PM AEDT| By Team Kalkine MediaIn a bid to help accelerate global efforts to move to a low-carbon economy, LGIM, Britain’s biggest asset manager plans to increase the number of companies it assesses and engages with over climate change Legal & General Group is co...
JP Morgan released better than expected results for Q3 2020
October 15, 2020 01:47 AM AEDT| By Team Kalkine MediaSummary The global banking institution beat its profit estimates for the quarter Only one of the major units (consumer banking) reported a drop in profit and revenue JP Morgan Chase & Co, one of the largest lenders globally, re.....
Should One Be Looking at Financial Services Stocks Now?
October 09, 2020 04:37 AM AEDT| By Kunal SawhneySummary Financial service sector includes a plethora of services that offers diversification opportunity within It is one of the most important sectors and accounts for almost 15 per cent of the total listed companies on the LSE. The sector af.....
TP ICAP Share Price Stumble on Proposed Acquisition of Liquidnet
October 03, 2020 08:30 PM AEST| By Kunal SawhneyLast year in December, TP ICAP Plc announced plans to introduce a new holding company in Jersey, whose domiciliation is expected to complete by the first quarter of 2021 subject to approval from the court as a part of the Group’s strategy to .....
TSB To Close Branches and Cut Staff with Decline in Business Due To COVID-19
October 03, 2020 10:00 AM AEST| By Team Kalkine MediaSummary The TSB bank has declared it will be closing nearly 164 of its branches in the UK and cutting 1000 staff members, because of a decline in the number of customers visiting these branches. Since the outbreak of the Coronavirus, more and m.....
Shares Of HSBC Jump On LSE As Key Chinese Investor Raises Stake
September 29, 2020 11:31 PM AEST| By Team Kalkine MediaSummary Ping An Asset Management of China increased its stake in the bank to 8 per cent, which is seen as a vote of confidence by investors despite a recent spat between Chinese and British governments over Hong Kong. The bank had been embroile.....
Big Management Shakeup at Subprime Lender Amigo Holdings Plc
September 29, 2020 11:11 PM AEST| By Kunal SawhneySummary Amigo Holdings Plc, which was valued at £3 billion at the time of its IPO in June 2018, has now lost its value to nearly one-twentieth. Three key management personnel who have been at the helm of affairs are now set to step down, .....
AI on the Rise: A Look at Top AI Companies and Their Stocks