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A new drama titled "Make It Happen," featuring Brian Cox as Adam Smith and Sandy Grierson as Fred Goodwin, will explore the Royal Bank of Scotland's role in the 2008 financial crash. Written by James Graham and directed by Andrew Panton, it marks Cox's return to Scottish stages after a decade. The world premiere will open the Edinburgh International Festival in 2025, following preview performances at Dundee Rep Theatre, with tickets available from March 27.
The Bank of England has proposed an increase in the deposit guarantee for savers. Lloyds Banking Group plc, a major British banking entity, reports that its net income is primarily derived from retail banking (58.4%), followed by commercial banking (30.7%) and insurance and wealth management (6.7%). By the end of 2024, the group managed GBP 482.7 billion in current deposits and GBP 459.9 billion in current loans.
Lloyds Banking Group pension scheme trustees have secured two new longevity swaps to cover £5.1bn of liabilities, partnering with Rothesay Life, Pacific Life Re, and Prudential Financial. The arrangements, which protect £2.1bn and £3bn of pensioner liabilities, follow previous significant longevity swaps in 2020 and 2022, enhancing the schemes' security against longevity risk. The transactions were facilitated by WTW and A&O, with a focus on a transparent selection process for the insurance providers.
Deutsche Bank has raised its price target for OneSavings Bank PLC from GBP 5.10 to GBP 6.20, maintaining a Buy rating. The analysts believe the bank's current valuation reflects regulatory challenges, presenting an opportunity for investors amid potential UK deregulation. They also noted that if regulatory pressures persist, OneSavings Bank could become an attractive acquisition target for larger banks.
Deutsche Bank has lowered its price target for Whitbread PLC to GBP37.50 from GBP41.50 while maintaining a Buy rating, citing weaker-than-expected performance data for March and a negative forecast for April. The revised outlook includes a -2% assumption for Revenue per Available Room (RevPAR) and an approximate 8% downgrade in Earnings Per Share (EPS) for Fiscal Year 2026. Despite a year-to-date decline of 15%, the stock's valuation remains attractive, with a Fiscal Year 2026 P/E ratio of 12.3 times, suggesting potential for volatility as investors assess the company's prospects.
Lloyds has successfully completed two longevity hedging transactions valued at £5.1 billion. These third and fourth transactions are designed to protect pension schemes from the financial impact of unexpected increases in life expectancy, securing benefits for 15 pensioners and eight deferred scheme members.
Britain's Prudential Regulation Authority has proposed increasing the deposit protection limit for savers from £85,000 to £110,000 in the event of a bank failure. This change aims to enhance financial security for consumers, reflecting the evolving economic landscape. The current limit has been in place since 2017.
A multi-billion pound case involving Barclays, Lloyds, and NatWest is set to reach the Supreme Court, stemming from consumer claims against lenders for undisclosed broker commissions in motor finance products. The Court of Appeal previously ruled such commissions unlawful unless transparently disclosed, a decision now under appeal. Analysts warn that a broad ruling could impact mortgage lenders, as many past broker remuneration arrangements may not comply with current standards.
Lloyds Banking Group Pensions Trustees Limited has secured two longevity swaps totaling £5.1bn to cover pensioner liabilities in its schemes. The transactions, involving Rothesay Life Plc and reinsurance from Pacific Life Re and Prudential Financial, aim to mitigate risks associated with increasing life expectancy without altering member benefits. Trustee director Vicky Paramour emphasized the importance of these deals in enhancing the security of the pension schemes.
Blackstone has agreed to acquire a 22% stake in AGS Airports, which operates Aberdeen, Glasgow, and Southampton airports, for GBP 235 million ($304 million) from AviAlliance. PSP Investments, which owns the remaining 78%, previously acquired AGS in 2024 for GBP 1.5 billion. This investment aligns with a trend of private capital targeting UK transport infrastructure, as global leisure travel continues to grow. The deal awaits customary regulatory approvals.
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new drama explores royal bank of scotland's role in financial crash
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The Royal Bank of Scotland N.V. Issuer Callable Fixed To Floating Fully Principally Protected Note AATIFXX
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Andrew Panton
James Graham
Sandy Grierson
Brian Cox
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13:30 31.03.2025
bank of england considers increasing deposit guarantee for savers
13:23 31.03.2025
lloyds banking group secures longevity swaps for pension funds worth 5.1 billion
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Rothesay Life plc
Lloyds Banking Group plc
Prudential Financial, Inc.
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Ben Howe
Vicky Paramour
Howie Timothy
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13:00 31.03.2025
Deutsche Bank raises OneSavings Bank price target amid regulatory challenges
12:59 31.03.2025
Deutsche Bank lowers Whitbread price target but maintains buy rating
12:54 31.03.2025
Lloyds finalizes two longevity hedging deals worth 5.1 billion pounds
11:20 31.03.2025
UK regulator proposes increase in bank deposit protection limit to 110000 pounds
11:15 31.03.2025
Supreme Court to hear landmark case on undisclosed finance commissions
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10:31 31.03.2025
Lloyds pension trustees secure £5.1bn in longevity swaps for member protection
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Rothesay Life plc
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Matt Wiberg
Ben Howe
Vicky Paramour
Howie Timothy
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10:19 31.03.2025
blackstone acquires 22 percent stake in ags airports for 235 million gbp
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Greg Blank
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09:30 31.03.2025
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