Lloyds Banking Group has named Amanda Murphy as the incoming CEO for its business and commercial banking (BCB) division, supporting micro, small, and medium-sized businesses. Pending regulatory clearance, the appointment follows Elyn Corfield’s decision to step down in 2026, concluding nearly nine years with the group. Murphy is scheduled to join in February 2026. Most recently, she was based in Singapore, where she was Asia commercial banking co-head and South and Southeast Asia commercial banking hea ...

The move is a significant step towards ending the uncertainty that has gripped The Telegraph since June 2023 - Geoff Pugh The Abu Dhabi-backed bidder which made two failed attempts to take control of The Telegraph has finally made an official application to sell on its interest. More than two years after it first sought a takeover, RedBird IMI has written to Lisa Nandy, the Culture Secretary, to ask permission to transfer it to DMGT, the publisher of The Daily Mail. Ms Nandy has lately been seeking a s ...

Lloyds Banking Group Pensions Trustees Limited has entered three new longevity insurance and reinsurance transactions, safeguarding a further £4.8 billion of pension liabilities against the risk of unexpected increases in member life expectancy.The new arrangements cover pensioner liabilities across three major schemes. A £3.1 billion in the Lloyds Bank Pension Scheme No.1, and a £0.7 billion in the Lloyds Bank Pension Scheme No.2 transactions closed in December 2025.A £1.0 billion related to the HBOS Final ...

Lloyds share price has remained in a tight range in the past few days as the important resistance level at 100p remained elusive. It was trading at 96p as the post-Autumn Budget rally stalled. ...

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Market Overview - European stocks closed mixed, with the pan-European Stoxx 600 up by 0.07%, while the U.K.'s FTSE 100 edged down by 0.01% and France's CAC 40 lost 0.28% [2] - Germany's DAX closed up by 0.51%, and Switzerland's SMI gained 0.31% [2] - Several European markets, including Belgium, Denmark, Greece, Ireland, Netherlands, Poland, and Russia ended weak, while Czech Republic, Finland, Iceland, Portugal, and Spain closed higher [2] Company Performance - In the UK market, bank stocks gained after the central bank announced that all seven largest lenders passed stress tests, reducing future Tier 1 capital requirements [3] - Notable gainers included Airtel Africa, Lloyds Banking Group, Vodafone Group, and Barclays, with increases ranging from 1% to 2.2% [3] - Endeavour Mining ended nearly 5% down, while Fresnillo, Berkeley Group Holdings, and WPP lost between 3% and 3.3% [4] - Bayer soared more than 11% after receiving support from the Trump administration regarding litigation over its Roundup pesticide [4] - Siemens Energy and Rheinmetall gained 3.3% and 3.1%, respectively, while Deutsche Bank climbed 2.2% [5] - In the French market, Societe Generale, BNP Paribas, and Credit Agricole gained between 1% and 2.3% [6] Economic Indicators - Euro area consumer price inflation rose to 2.2% in November, up from 2.1% in October, slightly above market expectations [7] - Germany's inflation rate accelerated to 2.6%, the highest since February, exceeding the ECB's 2% target [7] - The Euro Area unemployment rate was at 6.4% in October, matching September's revised reading [8] - France's central government budget deficit narrowed to EUR 136.2 billion at the end of October 2025, down from EUR 157.4 billion the previous year [8] - New car sales in France fell by 0.3% year-on-year to 132,927 units in November 2025 [9] - U.K. house prices grew by 1.8% on a yearly basis in November, slower than the 2.4% increase in October but faster than the forecast of 1.4% [10]

Core Insights - Lloyds Banking Group's acquisition of Curve for £120 million is a strategically significant move in the digital wallet and consumer payments sector, despite shareholder disputes and a valuation lower than Curve's previous fundraising [1] Group 1: Acquisition Details - Lloyds is acquiring a fully-regulated wallet platform that can manage multiple payment types through a single card or token, a capability that is still rare among banks [2] - The technology from Curve allows for real-time selection of funding sources at the moment of payment, linking transactions to the chosen account or credit line [3] - Curve's system includes smart rules that automatically direct transactions to different funding sources based on user preferences, and it is compatible with Apple Pay and Google Pay [3] Group 2: Strategic Implications - The acquisition is not merely about creating a digital wallet; it represents a funding-orchestration engine that can reshape customer relationships by offering choice, flexibility, and embedded credit [4] - While there is speculation about Lloyds building an alternative to Apple Pay, the real value of the acquisition lies beyond just NFC capabilities [5][6] - Curve's multi-funding infrastructure provides Lloyds the opportunity to develop a new type of bank account, allowing customers to select the optimal payment method for each transaction without needing to switch cards [7]

Group 1: Market Reactions and Economic Measures - The FTSE 100 rose 0.8% to close at 9,609.53, with banks gaining after reports that the Chancellor will spare the sector from tax increases [1] - NatWest shares increased by 3.9% to 604.8p, Lloyds by 3.8% to 90.7p, and Barclays by 2.4% to 410p, indicating positive market sentiment towards the banking sector [6] - The Chancellor is expected to unveil a package of up to £30 billion in tax rises and spending cuts, following a record £40 billion tax-raising Budget last October [4][5] Group 2: Taxation and Fiscal Policies - The introduction of a voluntary mayoral overnight stay levy is seen as a step towards greater fiscal devolution, potentially enhancing local infrastructure and economic growth [2] - A proposed tourist tax could cost consumers up to £518 million, with a 5% rate similar to Edinburgh's overnight levy [15] - The Chancellor is likely to extend the freeze on income tax thresholds to 2030, which is expected to raise the Treasury £8.3 billion [5] Group 3: Industry Responses to Tax Changes - UKHospitality criticized the tourist tax, stating it undermines the government's pledge to reduce the cost of living and could drive inflation [13][14] - The introduction of a milkshake tax is expected to encourage companies to reformulate products with lower sugar, but it may also create a complex tax landscape [7][10] - EasyJet's CEO warned that a tourist tax would negatively impact visitor numbers, which are crucial for the economy [21][22] Group 4: Company Performance and Forecasts - Kingfisher, the owner of B&Q, saw its shares climb 6% to 310p after upgrading its annual profits guidance, despite facing weaker market conditions [6][58] - AO World shares rose 5.9% after the company raised its annual profit forecast for the second time in three months, reflecting positive market performance [52]

Core Viewpoint - The Daily Mail's publisher, Daily Mail and General Trust plc, is in exclusive talks to acquire Telegraph Media Group for £500 million (approximately USD 654 million), following previous concerns regarding foreign ownership of British news organizations [6]. Group 1: Ownership and Acquisition - The acquisition aims to link two right-leaning news groups, the Daily Mail and the Telegraph, which have historically supported the Conservative Party [6]. - The proposed deal comes after RedBird IMI's previous attempt to acquire the Telegraph was stalled due to concerns over foreign influence in British media [6][4]. - The ownership transition is expected to enhance the Telegraph's global brand presence, similar to that of the Daily Mail [3][6]. Group 2: Historical Context - The ownership battle for the Telegraph began in 2023 when the Barclay family lost control of the company amid disputes with lenders [4]. - In November 2023, RedBird Capital and Abu Dhabi's International Media Investments announced an agreement to acquire the Telegraph, which raised concerns in the House of Commons regarding foreign influence on national media [4][5]. Group 3: Government Response - The previous government, under Prime Minister Rishi Sunak, initiated a review of the proposed acquisition due to concerns about foreign state interference in media [5]. - The current Culture Secretary, Lisa Nandy, has stated that any new acquisition will be reviewed to ensure it aligns with public interest and legislation regarding foreign influence in media mergers [6].

DMGT said it ‘plans to invest substantially in Telegraph Media Group with the aim of accelerating its international expansion’ - Geoff Pugh for The Telegraph The Daily Mail owner Lord Rothermere has entered exclusive discussions to acquire The Telegraph for £500m. Lord Rothermere’s holding company DMGT said it “plans to invest substantially in Telegraph Media Group with the aim of accelerating its international expansion”. The company is in talks with RedBird IMI, the joint venture between the United Ar ...