NatWest to End BNPL Product
NatWest has announced its intention to stop the Buy Now, Pay Later (BNPL) product.
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Nationwide Building Society to Acquire Virgin Money
The bank Nationwide Building Society, which is based in the United Kingdom, plans to acquire retail lender Virgin Money.
Revolut CEO Warns About Risk for London Status as FinTech Hub
Revolut’s new CEO in the United Kingdom is committed to being sure that London does not lose its status as a fintech technology hub in the future.
Neobank Monzo Raises $430 Million
Digital bank Monzo, which is based in the United Kingdom, on Tuesday, March 5, announced that it had managed to raise new capital for $430 million from investors.
Jeremy Hunt Announces New UK Manufacturing Funding
Chancellor of the Exchequer of the United Kingdom Jeremy Hunt on Monday, March 4, announced new funding designed to support the UK manufacturing sector.
SumUp Reportedly Aims to Raise $1.1 Billion to Refinance Debt
The media reports that the SumUp payment company, which is based in London, intends to raise €1 billion ($1.1 billion) from private creditors.
Monzo Aims for £4 Billion Valuation
Monzo, a fintech unicorn based in the United Kingdom, is set to achieve a £4 billion valuation as part of its latest funding round.
Barclays to Return £10 Billion to Investors in Overhaul
Barclays Plc announced its activity plans for the near future, which include taking measures to reduce costs, structural reorganization, and returning at least £10 billion to shareholders.
NatWest Sees Revenue Dropping
NatWest Group expects its revenue this year to likely decline because the business of this company is currently under pressure due to falling interest rates.
UK Falls Into Recession
The recession has become an economic reality in the United Kingdom, as evidenced by official data published by the Office for National Statistics (ONS) on Thursday, February 15.
UK Inflation Holds at 4%
In the United Kingdom, inflation remained at 4% in January, demonstrating what corresponds to such a concept as stability.
Revolut Launches Phone Plans for Travelers
Revolut, based in the United Kingdom and operates in the sphere of financial technologies, announced the launch of phone plans.
Barclays to Acquire Tesco Bank
Barclays has entered into an agreement to acquire Tesco’s retail banking business, including its credit cards, operating infrastructure, deposits, and unsecured personal loans.
Bank of England Governor Andrew Bailey Embraces AI
Governor of the Bank of England Andrew Bailey agrees with the opinion of the House of Lords that artificial intelligence should not be perceived as a risk to business.
Bank of England Opens Prospect of Rate Cuts in 2024
For the first time since the beginning of the coronavirus pandemic, the Bank of England opened the door to cut interest rates, confirming forecasts that the inflation rate will reach the target level in the coming spring, and warning of the likelihood of renewed price pressure.
Probability of Interest Rate Cut by Bank of England Grows
The Bank of England on Thursday, February 1, is likely to keep the interest rates at 5.25%, keeping this indicator within what can be described as sustainable stability.
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