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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.
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.
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.
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.
Many former Credit Suisse employees are leaving UBS due to a lack of belonging and recent layoffs, seeking unconventional new roles. Dirk Hentschel has joined Commerzbank as a managing director in London, where he will encounter familiar faces amid a hostile takeover attempt by UniCredit, led by ex-UBS executive Andrea Orcel.
Lloyds Bank's share price has risen 31% over the past year but faces challenges ahead, particularly with a Supreme Court case regarding car-loan mis-selling set to begin on April 1. The bank has set aside £1.15 billion for potential costs related to this issue, which could significantly impact its financial outlook. Meanwhile, Close Brothers Group has seen its share price drop 34% over the past year, with expectations of rising operating expenses and a forecast loss, raising concerns about its future performance.
Lloyds Banking Group Pensions Trustees Limited has secured its third and fourth longevity hedging transactions, covering £5.1 billion in liabilities across two pension schemes. The agreements, structured as insurance policies with Rothesay as the insurer and reinsurance from Pacific Life Re and PFI, ensure that pension benefits remain unaffected for members. This move further mitigates longevity risk and enhances the security of the pension schemes.
Barclays has upgraded Bunzl to "overweight," citing a stronger FY25 outlook and M&A potential. The firm notes that Bunzl's shares are trading at historical lows, presenting an attractive entry point, with expected annual earnings growth of approximately 6% through FY27, supported by M&A and buybacks. Key catalysts include diminishing deflation and a stable pricing environment, with a price target set at 3,650p, indicating over 20% upside.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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