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Banking & Finance

Gold market in turmoil as Trump unveils new Fed governor and Swiss tariffs
By City AM
The gold market was thrown into turmoil on Friday after Donald Trump unveiled a dovish new Federal Reserve governor and slew of new tariffs, including hefty duties on kilo gold bars from Switzerland
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Royal London reports robust profit growth and successful BPA market entry in first half of 2025
By City AM
The insurance company recorded a 15 per cent rise in pre-tax profit to £166m, compared to £144m in 2024, crediting its higher business sales and bulk purchase annuity buy ins.
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Big companies crack down on investment bank leaks as takeover concerns rise
By City AM
Companies are putting investment banks under pressure to cut back on the number of advisers working on º£½ÇÊÓƵ takeover deals, as concerns about leaks grows
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KKR urges Assura to ditch Primary Health Properties as bidding war heats up
By City AM
US private equity giant KKR has called on Assura to abandon a deal with rival Primary Health Properties as the bidding war for the º£½ÇÊÓƵ healthcare real estate investment trusts ramps up.
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Hiscox shares jump as firm hikes buyback despite huge wildfire losses
By City AM
Hiscox has posted a slight fall in interim profit as wildfire claims hit its reinsurance division, but the company increased capital returns on the back of substantial investment income
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Legal & General delivers solid profit growth after international expansion
By City AM
The company recorded a six per cent increase in core operating profit for the first half of 2025 after recording steady growth across all three of its business arms.
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High street bank triples profits by shifting focus to small business loans
By City AM
The bank recorded an underlying profit before tax of £45m in the six months to the end of June, up from £12.8m in the second half of 2024
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Bank of England's persistent 'groupthink' issue highlighted ahead of crucial interest rate cut
By City AM
The Bank of England's Monetary Policy Committee is expected to cut interest rates on Thursday
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FTSE 100 banks: Barclays, Lloyds and HSBC pocket £12.8bn in Q2 but trouble looms
By City AM
The Big Five - Barclays, HSBC, Natwest, Lloyds and Standard Chartered - pocketed a combined £12.8bn in the three months to June 30
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Bank of England to cut interest rates but faces dilemma over future policy decisions
By City AM
The Bank of England is expected to cut interest rates this week, but the future of monetary policy is uncertain, according to leading economists
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Near £3bn high street bank funding gap to Welsh SMEs identified by report
Banking & Finance
Fintech Allica Bank said if deployed it would have had a huge economic impact
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Klarna gears up for New York IPO revival in autumn amidst market recovery
By City AM
Klarna's US listing plans were put on hold after President Trump's 'Liberation Day' levies
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Supreme Court ruling sparks crackdown on 'bad practice' by dodgy claims firms
By City AM
The Solicitors Regulation Authority (SRA) and Financial Conduct Authority (FCA) have teamed up to issue a warning to law firms and claims management companies (CMCs)
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Nationwide smashes big banks in mass customer exodus as 'The Big Thankyou' pays off
By City AM
Nationwide was the runaway winner for current account switches in the first quarter of 2025 as the mutual's billions of pounds returned to customers in 2024 paid off.
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Chetwood Bank sees saver deposits exceed £5bn
Banking & Finance
The challenger bank is headquartered in Wrexham
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Klarna secures º£½ÇÊÓƵ banking licence to take on Monzo and Revolut
By City AM
The buy now, pay later firm has been granted regulatory approval to offer savings accounts to its 11 million º£½ÇÊÓƵ customers, with a debit card on the horizon
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Santander º£½ÇÊÓƵ's strategic overhaul leads to job cuts and branch closures
By City AM
The bank said provisions for other liabilities and charges were up 74 per cent to £249m driven by "higher transformation related charges". The lender listed losses and provisions as rising 119.8 per cent to €340m (£296m)
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Revolut mulls China launch as fintech giant faces º£½ÇÊÓƵ regulatory hell
By City AM
Revolut is considering a move into China as the fintech giant battles regulatory issues closer to home in a bid to become a fully fledged bank in the º£½ÇÊÓƵ
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Rathbones sees profit fall as it warns on first-half market turbulence
By City AM
Rathbones has reported a decline in profit over the first six months of the year, as market turbulence in the first quarter took its toll on the FTSE 250 wealth manager
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HSBC profit plunges 29% amid China business write-downs, missing market forecasts
By City AM
The FTSE 100 listed global bank saw its pre-tax profit come in at $6.3bn (£4.72bn) in the three months to May 31, down from $8.8bn a year ago and below analyst expectations of $6.99bn.
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Barclays CEO urges Rachel Reeves to reconsider bank tax hike amidst economic growth concerns
By City AM
Barclays boss CS Venkatakrishnan has warned against a bank tax hike as the Chancellor looks to maintain her fiscal headroom
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Development Bank of Wales reveals two new board members
Deals
Leading º£½ÇÊÓƵ finance specialists Annie Ropar and Paul Oldham have been appointed to the board of the Development Bank of Wales.
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What is the average house price in Wales
Housing
New quarterly figures from the Principality Building Society shows the average house price in Wales is up on a year earlier but down on the Q1
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NatWest upgrades guidance and announces £750m share buyback
By City AM
The bank has announced a 9.5p interim dividend and a £750m share buyback following "a strong H1 2025 performance" in first results since the bank returned to full private ownership.
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