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In 2024, contactless spending reached a record 94.6% of eligible in-store card transactions, with the average purchase at £16.10 and individuals using the technology 236 times, totaling around £3,800 per person. The over-65s were the fastest-growing demographic, with 84.1% adopting contactless payments. Barclays emphasized that while convenience drives this trend, the importance of human interaction in retail remains vital for building customer relationships.
The fourth Lugano Banking Day highlighted the importance of cultivating framework conditions for businesses and citizens, focusing on taxation, human resources, and technology. Economist Sara Carnazzi Weber discussed recent tax reforms in Canton Ticino aimed at improving competitiveness, while concerns about high tax rates for wealthy individuals and the impact of geopolitical changes were raised by various speakers. The event also addressed the demographic crisis and the need for vocational training to tackle scarce human resources.
Coca-Cola Europacific Partners plc, a leading consumer goods company, is expected to see a decline in Q1 sales, according to UBS. The company serves nearly 600 million consumers and supports over 2 million customers across 31 countries, combining multinational strength with local expertise.
Lloyds Banking Group PLC has purchased 15,317,728 ordinary shares from Morgan Stanley as part of its ongoing share buyback program, with prices ranging from 71.30 to 72.78 pence per share. This initiative is part of a larger plan to repurchase up to £1.7 billion in shares, having already acquired 295,151,977 shares for £206.34 million. The move aims to enhance shareholder value and reflects the company's strong financial position.
Sharon Doherty, Chief People & Places Officer at Lloyds Banking Group, sold 416,666 ordinary shares at 72.01 pence each on March 31, 2025. Despite this sale, she remains compliant with the company's shareholding policy, ensuring transparency in managerial transactions. Lloyds Banking Group is a prominent financial services provider in the UK, operating under brands like Lloyds Bank, Halifax, and Bank of Scotland.
Lloyds Banking Group has announced that as of March 31, 2025, the total number of shares with voting rights will be 60,524,347,066. This figure is essential for shareholders as it determines their voting power under Financial Conduct Authority regulations. The bank, a key player in the UK financial sector, offers various services including personal banking, insurance, and investment solutions.
UBS has maintained a "Neutral" rating for HSBC Holdings with a target price of 960 pence. Analyst Jason Napier noted the confirmation of capital increases by the Chinese Bank of Communications, in which HSBC has a 19% stake, and highlighted a moderate, capital-neutral impact for HSBC.
Goldman Sachs has raised the probability of a US recession to 35% due to President Trump's tariffs, up from 20%. The bank anticipates that these tariffs will increase average rates on trading partners to 15%, leading to higher consumer prices and prompting the Federal Reserve to cut interest rates three times this year. Economic growth is projected to slow to 1.5% annually, reflecting the negative impact of the tariffs.
Dalata Hotel Group PLC has reported a significant change in major holdings, with UBS Group AG crossing a 3% threshold in financial instruments related to the company, effective March 27, 2025. This strategic move by UBS could influence Dalata's market positioning and stakeholder interests. The company continues to focus on expanding its market presence and enhancing service offerings in the hospitality sector.
Lloyds Banking Group Pensions Trustees Ltd. has finalized two longevity insurance and reinsurance arrangements valued at a total of £5.1 billion ($6.6 billion). This strategic move aims to manage the financial risks associated with pension liabilities.
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record contactless spending reaches 946 percent in 2024 according to barclays
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