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Lloyds to cut back office staff, invest in tech

Lloyds Banking Group has announced plans to cut 450 back-office jobs in the latest attempt to cut costs and focus on digital initiatives, according to Reuters. The group has said it will create … Continue reading “Lloyds to cut back office staff, invest in tech”


Address alpha male culture in UK banking, says report

MPs have called for a change in the ‘alpha male culture’ at UK banks in a parliamentary report that cites the gender pay gap and hazy criteria for performance bonuses as key problems, … Continue reading “Address alpha male culture in UK banking, says report”


Visa says broken switch caused 1 June payment failures

Visa has cited a broken switch as the root cause of payment processing problems on Friday 1 June that saw failed transactions across Europe, according to the Guardian. Some 5.2m transactions failed during … Continue reading “Visa says broken switch caused 1 June payment failures”


Clydesdale and Yorkshire Banks to merge with Virgin Money

Two major banking brands are set to disappear from the High Street following a Virgin Money takeover of Clydesdale and Yorkshire banks, according to the Guardian. The £1.7bn acquisition is expected to lead … Continue reading “Clydesdale and Yorkshire Banks to merge with Virgin Money”


Half of British employers worry about recruitment

One in two British employers anticipate that they will struggle to recruit permanent staff in the near future, according to a survey from the Recruitment and Employment Confederation (REC) reported by Reuters. Fifty … Continue reading “Half of British employers worry about recruitment”


Poundworld founder considering return to ailing retailer

Struggling retailer Poundworld may not vanish from the High Street after all, following news that its founder is considering purchasing some of the stores, according to BBC News. The discount retailer was founded … Continue reading “Poundworld founder considering return to ailing retailer”


Islamic banks call for UK tax reforms

Islamic finance firms are putting pressure on the UK government to reform the tax system in order to provide for their growth, according to Reuters. Islamic rules on finance prohibit interest payments and … Continue reading “Islamic banks call for UK tax reforms”


CBI President warns Brexit could lead to ‘extinction’ of UK manufacturing

The President of the CBI has warned that sections of the UK car industry face ‘extinction’ unless the UK remains in an EU customs union, according to BBC News. Paul Dreschler said a … Continue reading “CBI President warns Brexit could lead to ‘extinction’ of UK manufacturing”


RAC calls for fuel retailers to cut prices

The RAC has said that fuel prices in the UK are unjustifiably high and wholesale price drops should be passed onto consumers, according to BBC News. The motoring organisation says there is ‘no … Continue reading “RAC calls for fuel retailers to cut prices”


UK inflation at a one-year low

Inflation in the UK remained at a one-year low in May, leaving open the possibility of a raise in the interest rate from the Bank of England. In May 2018 consumer price inflation … Continue reading “UK inflation at a one-year low”


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