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A group of top Australian firms have commited to inject £28.5bn into the UK economy today across projects spanning renewable energy, infrastructure and urban regeneration.

“I’m proud that some of Australia’s leading businesses have chosen to invest in the UK, recognising opportunities across the globe in our dynamic and forward-looking economy,” prime minister Boris Johnson said in a statement.
“The fantastic schemes announced today will turbocharge the Government’s efforts to create jobs and growth in every part of the country, and put the UK at the cutting edge of the green industrial revolution.”

The UK economy grew faster than anticipated in the last three months of 2021 as a frenzy of health sector activity masked inflation’s impact on household incomes.
Gross domestic product (GDP) increased 1.3 per cent in the fourth quarter from the previous three-month period.
The Office for National Statistics had previously provided an estimate of one per cent growth.

Pilot jailed for lying to get British Airways’ job

A commercial pilot was convicted of fraud after he lied about his experience to get a job at British Airways (BA), the Civil Aviation Authority (CAA) announced today.
Kentish man Craig Butfoy admitted that between 2016 and 2018 he had falsified details and entries in his pilot logbook to retain work with BA’s London City Airport subsidiary CityFlyer and former Irish regional airline Stobart.
Butfoy was sentenced to 12 months imprisonment.

Thousands of British Airways passengers are waking up where they did not intend to be after the latest failure of the airline’s IT systems.

At least 50 short-haul flights to and from London Heathrow have been cancelled today, in addition to dozens of departures on Wednesday afternoon and evening.

That represents at least 5,000 BA customers who will face disruption on Thursday, on top of tens of thousands who were delayed or grounded on Wednesday.

Many passengers are still waiting for baggage to be delivered after bags piled up at Heathrow Terminal 5, the main hub for British Airways.

Business confidence declines but remains above long-term average

Business confidence dropped significantly in March (down 11 points to 33%), but remained above the long-term average (28%), according to the latest Lloyds Bank Business Barometer.

The fall in confidence was the biggest since the first two months of the pandemic when it dropped by 17 points and 38 points in March and April 2020 respectively as overall sentiment in March 2022 reached its lowest level since August 2021 (36%). However, the Barometer level remains above the long-term average (28%) due to confidence having been relatively buoyant in recent months.

Hann-Ju Ho, Senior Economist Lloyds Bank Commercial Banking, said: “March’s data shows UK businesses are facing significant challenges from the impact of Russia’s invasion of Ukraine in increasing economic uncertainty and ongoing inflationary pressures. Following encouraging improvements at the start of the year, March’s fall in confidence is therefore disappointing, but not surprising.

“There are positives with the fact that confidence remains above the long-term average and it appears for now that growth will moderate. But it is difficult to gauge what the full impact will be and therefore businesses have become more cautious.”

https://www.lloydsbankinggroup.com/media/press-releases/2022/lloyds-bank/march-2022-business-barometer.html

Gary59
“” very high inflation it doesn’t take a rocket scientist to see where this SP is heading””

With high inflation comes high interest rates this is how banks make money

Fifteen stocks pass that test says the Swiss bank with (in the UK) the most recognisable names - Lloyds Bank, National Grid and Reckitt Benckiser the stand-outs.

https://www.proactiveinvestors.co.uk/companies/news/978311/defensive-stocks-for-uncertain-times-go-with-lloyds-bank-diageo-reckitt-benckiser-suggests-credit-suisse-978311.html

JPMorgan raises Lloyds price target to 60 (56) pence - 'overweight'

Morgan Stanley cuts IAG price target to 2.30 (2.50) EUR - 'overweight'

Chid

“”Lloyds, held and not traded over a decade or more must have caused massive losses on the worth of the initial investment due to inflation, especially as the dividend was cancelled for a long time and now still a very lowly sum””

The PRA told lloyds to cancel the dividend payouts nothing to do with inflation

Chid
Inflation Is good news for banks it’s behind the rising interest rates BoE may hike rates to 2% this year the extra Earnings per book for Lloyd’s will drive up the share price and dividend payments

Barclays faces $590 million hit, scrutiny over sales slip-up

https://www.reuters.com/business/finance/barclays-hit-by-590-million-loss-bond-blunder-2022-03-28/

Mulberry has taken this opportunity to increase its marketing investment in the second half of FY22 to further build global brand awareness. Despite this additional expenditure, the profit for FY22 will be moderately ahead of current expectations.



The Group's balance sheet remains strong with net cash balances at FY22 expected to be in excess of £20 million. The Group intends to announce its FY22 results on 29 June 2022.

Mulberry Group Anticipates FY 2022 Revenue, Profit Above Expecations on Strong Sales

Mulberry Group PLC said Tuesday that it anticipates reporting revenue and profit moderately above expectations for fiscal 2022 after booking robust sales.

British Airways claims to be the first airline in the world to start using sustainable aviation fuel (SAF) produced on a commercial scale in the UK.
The Phillips 66 Humber Refinery near Immingham is producing thousands of tonnes of SAF that will now help power a number of BA flights.
The SAF is produced from sustainable waste feedstock at the refinery and the airline will add it into the existing pipeline infrastructure that directly feeds several UK airports including Heathrow.

https://travelweekly.co.uk/news/air/ba-to-start-using-uk-produced-sustainable-aviation-fuel

Millions of UK bank account holders are putting themselves at a much greater risk of fraud by ignoring crucial warnings provided by the Confirmation of Payee (CoP) service, according to new research by Lloyds Bank.

https://www.lloydsbankinggroup.com/media/press-releases/2022/lloyds-bank/millions-of-brits-at-greater-risk-of-fraud-after-ignoring-bank-warnings.html

FTSE 100 called higher to make up for late stumble
London's gauge of blue-chip stocks has been called 40 points higher

FTSE 100 called higher to make up for late stumble
London's gauge of blue-chip stocks has been called 40 points higher

Barclays delays share buyback after selling more bonds than it registered

If Bill dose another placing this year the share price will tank again to get back over 1p this is going to need a JV all the work going on at 3 different sits is costing a fortune