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Banking

Six figure donation to Coventry's charity of the year

Coventry Building Society is delighted to announce that it has hit its target donation to its first ever ‘Charity of the Year', Royal National Institute of Blind People (RNIB).

Running a marathon is no sweat for the over 50s

With the London Marathon only days away, many people will be glued to their screens this Sunday to watch around 37,000 runners pound the pavements.

Rate cut may buck the trend and help sterling

Today, as Sterling hits an all time low against the Euro, the Bank of England has announced a 0.25% cut in interest rates to 5%.

FSCS initial "net" levy contributions to decrease by £2.4m

The Financial Services Compensation Scheme (FSCS) has set its levy for 2008/09 at £131.7m. The industry will pay an initial net levy of £28.3m in new money for 2008/09 to fund the Scheme.

Legal & General: base rate cut

Ben Thompson, Director of Mortgages at Legal & General said: "Despite today's cut, the impact on borrowers will be minimal.

Abbey: Bank of England base rate decision

Barry Naisbitt, Chief Economist at Abbey, comments on Bank of England base rate decision: "The Monetary Policy Committee (MPC) today reacted to the evidence of slowing economic growth by announcing a cut in Bank Rate, from 5.25% to 5.00%.

Lloyds TSB: MPC rate decision

Trevor Williams, chief economist Lloyds TSB Corporate Markets comments on the MPC decision: "This decision must have been one of the toughest the Monetary Policy Committee (MPC) has faced for a while.

UK interest rates cut to 5.0%

The Bank of England's Monetary Policy Committee today voted to cut interest rates by 0.25 percentage points to 5.0%.

Turbulent times force financial services to rethink strategy

Unpredictable and unstable markets will see more financial services companies experiencing benefits by outsourcing their systems or services during 2008, predicts Newcastle Building Society.

Barclays stockbrokers predicts the MPC will cut rates

Speculating on Thursday’s MPC interest rate decision, Henk Potts, Equity Strategist at Barclays Stockbrokers said: “Pressure has been building and building on the Bank of England to reduce interest rates as the economic picture deteriorates and property prices fall.

Bank of Scotland launches 'no catches' deposit account for SMEs

Bank of Scotland Business Banking has launched a market-leading deposit account for small businesses offering 25bps above base rate (5.64% AER / 5.50% gross p.a.) on balances of £1 and above, a rate that is nearly 40% higher than any deposit product offered by the Big Four banks.

NAEA calls on Bank of England to reduce interest rates

The National Association of Estate Agents (NAEA) is calling on the Bank of England to act to stabilise the housing market.

HBOS launches Halifax International

HBOS, UK savings provider, has launched Halifax International to provide simple offshore savings to British expatriates through internet and telephone banking.

HSBC loses disc with 370,000 customer details

Commenting on the loss of 370,000 customer details by banking giant HSBC, Kevin Mountford, head of savings at price comparison site moneysupermarket.com, said: “For a bank that prides itself on first class service this is unforgivable

Another financial advice acquisition for The Skipton Group

The Skipton Building Society Group has announced that it has acquired a 75% shareholding in Thomson Shepherd Ltd, the Scottish based IFA (which trades as Coggans Wood in Edinburgh).