About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

Large UK lenders have been criticized once again for offering low rates on their easy access savings accounts. According to Moneyfacts, Barclays PLC, HSBC Holdings PLC, Lloyds Banking Group PLC, NatWest Group PLC, and Banco Santander all offer gross rates of below 2% on savings worth £10,000 in flexible accounts. “Despite the continued focus on passing on interest rates to savers, the big five banks are still yet to make their easy access rates more competitive in relation to the rest of the market,” Moneyf ...

Two of the US’s largest credit card companies are set to merge in a deal to create a giant financial powerhouse worth around US$35bn. Capital One has offered to buy Discover Financial Services (NYSE:DFS) in an all-share transaction to form the sixth-largest US bank by assets and a rival to JPMorgan Chase and Citigroup. Combined, the company will also be number one in the highly concentrated US credit card industry, Visa and Mastercard dominate the credit card landscape worldwide but getting to a scale where ...

New cost-cutting measures at Barclays PLC (LSE:BARC), aimed at delivering annual savings of £2bn, could result in 17,000 job losses. Analysts at research house Third Bridge estimate a 20% reduction in headcount would be required to achieve the figure being touted. The high street lender currently employs around 85,000 people. Third Bridge believes the cull "would not impact day-to-day operations", and adds: "Previous cost reduction programmes have not been executed effectively, in some part due to its polit ...

Barclays PLC (LSE:BARC) has unveiled a corporate overhaul, £2bn of cost cuts and a £10bn capital return as it looks to enliven the company's sluggish operational and financial performance as part of a new three-year plan. According to chief executive CS Venkatakrishnan, the initiatives are also aimed at "driving higher returns, and predictable, attractive shareholder distributions". In its results statement, Barclays wants to reduce its cost-to-income ratio from its current 63% to the 'high 50s', which mean ...

Can fabless semiconductor superpower Nvidia Corp follow its AI-powered annus mirabilis with another quarterly revenue record? According to America’s third-largest company (having just flipped Google parent Alphabet Inc (NASDAQ:GOOG)), yes! Nvidia has set a fourth-quarter revenue target of around $20 billion on a 74.5% gross margin. Hitting this target would indeed make for another all-time quarterly record following an $18.1 billion top-line figure in the third quarter and $13.5 billion in the second quarte ...

Movie awards season hit Britain on Sunday evening as actors, directors and movie execs celebrated the 2024 BAFTAs. Notable winners include Christopher Nolan’s Oppenheimer, which picked up the Best Film, Best Director, Best Actor and Best Supporting Actor along with awards for cinematography, sound and editing. Also picking up several awards were Poor Things starring Emma Stone, The Holdovers and The Zone of Interest. However, were any investors left smiling by the results? Universal Pictures, which is owned ...

Apple Inc (NASDAQ:AAPL, ETR:APC)’s App Store conundrum is getting hotter. To comply with the Digital Markets Act (DMA), the Cupertino megacap dramatically altered its policies in the European Union in January by allowing rival app stores on its iPhone smartphones for the first time. Under the new policies, developers were also given the right to use payment service providers (PSPs) other than the App Store’s service. Apple's previous policy of exclusively hosting iPhone apps through its own App Store while ...

Airbnb Inc (NASDAQ:ABNB, ETR:6Z1) properties in the UK are being targeted by new rules aimed at improving the rental market. New restrictions on short-term letting were launched today, requiring new planning permission if a house is going to be rented out for more than 90 days in a year, which would imply the property is being used mostly as an Airbnb let or on another platform. The short-term letting rules also include plans to set up a national register of properties being used for short-term letting with ...

Barclays PLC (LSE:BARC) (Barclays PLC (LSE:BARC)) results tomorrow will be accompanied by a strategic review of the business and the results might not be pretty. Hargreaves believes there will be a focus on cost reduction rather than material business changes, especially in the UK which sits well above peers on a cost-to-income basis. That will mean job cuts, potentially in the much-debated investment bank, and to soften the blow a big hand-out to investors. Press drops at the weekend suggested this might i ...