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Four banks fined over £100m in Govt bonds competition case


By Michael Griffiths

Four banks have agreed a settlement with the Competition and Markets Authority (CMA) to pay fines in cases related to UK Government bonds.

Citi, HSBC, Morgan Stanley and Royal Bank of Canada will pay fines totalling £104.5m


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Standard Life pre-tax profits jump 20% in 2024

Standard Life has reported that its profit before tax increased by 20% year-on-year in 2024, reaching $6.8bn

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British Gas owner reports sharp fall in profits

Centrica, the owner of British Gas, has reported a 25% decline in full-year revenue to £19.9bn

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Lloyds ‘capped off’ strong year despite drops in Q4 results

Lloyds has "capped off a strong year", analysts have stated, as the firm’s net income reached £4.4bn in the final quarter, beating expectations by £100m

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BAE Systems reports £28bn in sales for 2024

BAE Systems has posted a 14% jump in arms sales to £28.3bn last year, a figure up on £25.3bn in 2023

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Edmond de Rothschild becomes majority shareholder at UK-based wealth manager

Private banking firm Edmond de Rothschild has become a majority shareholder in London-based wealth manager Hottinger & Co, increasing its stake in the firm to 70%

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HSBC profits up as bank outlines cost-cutting drive

HSBC has announced a rise in pre-tax profit to $2.3bn in Q4 as the bank also detailed plans to cut an estimated $1.5bn from its cost base before the end of next year

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Thames Water’s £3bn funding lifeline approved by High Court

Thames Water has had its £3bn restructuring plan approved by the High Court and avoided the prospect of falling under the Government’s control

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Jet2 shares drop 11% as it addresses cost increases

Jet2 has signalled towards upcoming cost increases in its latest trading update, leading to shares falling by 11% earlier today

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Pension insurers invested £178bn in UK assets in 2023, ABI data reveals

Sixty-five per cent (£178bn) of assets held by participating firms providing bulk and individual annuities were invested in the UK in 2023, new data from the Association of British Insurers (ABI) has revealed

Biome Technologies announces plan to delist from London

Biome Technologies has announced its "proposed voluntary cancellation" from trading on AIM, in a move that the firm said would be in the "best interests of the company and its shareholders"
Anglo American agrees sale of nickel business

Anglo American has agreed to sell its nickel business to MMG Singapore Resources for a cash consideration of up to $500m (£396.8m)
IHG launches new share buyback as revenue jumps 7%

InterContinental Hotels Group (IHG) has seen its revenue increase by 7% in 2024 to $2.3bn (£1.82bn), as the firm launched a new share buyback programme, valued at $900m (£714.1m)


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