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Loyal savers at Barclays and Lloyds Bank are urged to reassess their savings accounts, as many are missing out on better interest rates amid rising inflation. With some easy-access accounts offering as low as 1%, switching to more competitive options could yield significantly higher returns, potentially increasing earnings from £100 to £300 annually on a £10,000 deposit. As the new tax year approaches, several providers have enhanced their rates, making it crucial for savers to explore their options and maximize their savings potential.
UBS Group AG has acquired a significant voting stake in ABRDN Property Income Trust Limited, surpassing the 8% threshold. This move highlights UBS's strategic interest in the real estate investment sector and may impact the trust's future decisions and stakeholder dynamics.
Deutsche Bank has lowered its price target for WAG Payment Solutions PLC to GBP0.90 from GBP1.05 while maintaining a Buy rating. The company reported a 14% increase in net revenues and a 12% rise in adjusted EBITDA for 2024, alongside a special dividend proposal of 3p per share, totaling around £25 million. Despite ongoing investments, WAG improved its net debt to EBITDA ratio from 2.9 to 2.3 times, reflecting strong cash generation.
HSBC's investment bankers faced layoffs on bonus day, receiving no bonuses as part of a broader restructuring plan. The bank aims to cut costs by £1.2 billion by 2026, merging its main units and focusing more on commercial and retail operations, which now dominate its business.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
Deutsche Bank has invested £250M in UK fintech firm Abound, enhancing its lending capacity to £1.6B. Abound utilizes AI-driven cashflow underwriting and Open Banking insights to offer tailored loans, achieving profitability within three years of its 2024 launch. The company provides loans from £1,000 to £20,000 with competitive APRs and aims to expand its technology globally.
Lloyds Banking Group has ended its decade-long partnership with creative agency Adam&EveDDB as part of a broader re-evaluation of its agency relationships. The collaboration produced notable advertising campaigns, including recent promotions for the bank's 'Link Pay' feature. Both parties expressed gratitude for their successful partnership, highlighting achievements in creative excellence and cultural impact.
Rothesay reported a strong performance in 2024, generating new business premiums of £15.7bn, up from £12.7bn in 2023, and increasing assets under management to £70.7bn. The firm secured over one million pensions and made annual payments of approximately £3.8bn to policyholders, while maintaining a robust solvency coverage ratio of 261%. CEO Tom Pearce highlighted the competitive pension risk transfer market as a source of ongoing business opportunities, supported by long-term shareholders GIC and MassMutual.
E-commerce in the MENA region is undergoing a significant transformation driven by Ramadan and Eid gifting, with gift orders surging over 150% during Ramadan 2025. Mobile devices now dominate transactions, and platforms are enhancing logistics and personalisation to meet year-round consumer expectations. The shift towards cross-border demand and smarter inventory strategies is reshaping the digital retail landscape, making Ramadan a critical period for innovation and engagement.
London fintech Abound has secured a £250m financing deal with Deutsche Bank, boosting its total lending capacity to £1.6bn. This funding will enhance its operations and financial inclusion efforts, while its AI-driven cashflow underwriting platform, Render, helps minimize default rates and offer lower consumer loan rates. Co-founders Gerald Chappell and Dr. Michelle He emphasize the potential for global expansion as Open Banking technology gains traction worldwide.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
loyal savers urged to switch accounts for better interest rates
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