George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The Big Four bank posted an operating profit of £1.3bn in the first three months of 2024, down 27 per cent from £1.82bn in the same period last year but little changed from £1.26bn in the previous quarter. Analysts had expected a first-quarter profit of £1.25bn.
https://www.cityam.com/natwest-profits-slide-27-per-cent-but-beat-market-expectations/
What will drive silver to surge?
Right now, demand for silver is skyrocketing beyond its traditional uses to emerging technologies including electric vehicles and renewable energy projects. Much like gold, silver has been used as a safe-haven asset during economic uncertainties and inflationary pressures – I see no reason why this would not continue.
https://www.proactiveinvestors.co.uk/companies/news/1046176/are-we-facing-a-2010-like-silver-boom-1046176.html
The busiest start to a year in its history has seen London’s Heathrow Airport turn a £83m profit through the first three months of 2024.
https://www.cityam.com/heathrow-airport-hits-historic-footfall-but-urges-uk-to-rethink-anti-growth-policies-like-tourist-tax/
Https://www.gpblog.com/en/news/271825/f1-penalties-perez-and-sargeant-closest-to-suspension.html
Lloyds Banking Group has posted a 28 per cent fall in profit – in line with analysts’ estimates – as price wars and the prospect of interest rate cuts starting this summer forced it to offer better rates to savers.
The group – which owns Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows – reported a pretax profit of £1.63bn for the first three months of 2024.
This figure is down from £1.78bn during the previous quarter and 28 per cent lower than the £2.26bn in the first quarter of 2023. A company-complied analyst consensus had expected a profit of £1.66bn.
https://www.cityam.com/lloyds-profits-drop-against-bumper-2023-as-margins-shrink/
Business confidence rose above its pre-pandemic average for the first time in two years, a new survey shows, but levels of investment remained subdued in a sign that the recovery remains “brittle”.
Business confidence tripled to 14.4 in the first quarter of 2024, up from just 4.2 in the final quarter of last year, according to the Institute of Chartered Accountants in England and Wales (ICAEW).
https://www.cityam.com/business-confidence-surges-in-early-2024-but-recovery-remains-brittle-survey-suggests/
LONDON, April 24 (Reuters) - Lloyds Banking Group (LLOY.L), opens new tab reported a 28% fall in first quarter pretax profit on Wednesday, in line with analyst expectations, as rising costs, peaking interest rates and intensifying competition in the mortgage market hurt income.
Britain's largest mortgage lender reported Q1 pretax profit of 1.6 billion pounds ($1.99 billion), down from 2.3 billion pounds a year ago.
https://www.reuters.com/business/finance/britains-lloyds-bank-says-q1-profit-falls-28-2024-04-24/
Ferrari has filed a patent application for a hydrogen-powered internal-combustion engine, hinting that the automaker is considering this as a way to keep combustion engines alive in a future with stricter emissions regulations.
https://www.motorauthority.com/news/1142929_ferrari-patents-hydrogen-powered-engine
It was another busy week for observers of the UK economy with a fresh batch of data released giving policymakers at the Bank of England plenty to think about.
Like a gambler holding 15 on a blackjack table, Threadneedle Street’s next move on interest rates is a gamble either way: cut too fast and risk letting inflation bed in – cut too slowly and strange the economy’s rebound from recession.
economists pushed back the timing of the first rate cut, with August looking the most likely date. Money markets are more pessimistic and have not fully priced in the first cut until September.
https://www.cityam.com/bank-of-england-left-with-tough-choice-on-interest-rate-after-week-of-fresh-data/
Great news 📈🚀
Fernando Alonso hints at F1 retirement date after historic contract https://www.gpfans.com/en/f1-news/1018325/fernando-alonso-f1-aston-martin-contract-2026-retirement/
Aml just need to sort out a couple of decent drivers going forward
Eddie Jordan believes 34-year-old driver's 'time has run out' in Formula 1 https://www.f1oversteer.com/news/eddie-jordan-believes-34-year-old-drivers-time-has-run-out-in-formula-1/
Good to see Michael Tobin upping his skin in the game very encouraging to see
"World faces permanent higher interest rates"
This is great news for Lloyds shareholders as Charlie Nunn says, a 0.25 percentage point rise will help net interest income by about £225m in the first year, £300m in the second year and £425m in year three
UK bank earnings season starts again on 24 April when Lloyds Banking updates, notes UBS, adding the domestic operators still look good despite an impressive share price run since the start of 2024.
Lloyds target rises to 58p from 53p despite the uncertainty over the motor finance probe.
“A £2bn share buyback and 175bps capital generation target for FY24 suggest confidence that overall risks are manageable,”
https://www.proactiveinvestors.co.uk/companies/news/1045514/lloyds-barclays-natwest-all-upgraded-as-ubs-tips-bank-rally-to-continue-1045514.html
The March inflation print came in hotter than expected at 3.2% against market forecasts of 3.1%, though this still makes for the lowest year-on-year rate since August 2021.
Annual core inflation (which is a better indicator of consumer income pressures) slowed to 4.2% in March, the lowest since December 2021 and down from 4.5% in February.
https://www.proactiveinvestors.co.uk/companies/news/1045467/uk-inflation-falls-at-a-snail-s-pace-1045467.html