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Powerful City investors have raised fears over delays in appointing a new chief executive for HSBC as the banking giant launches an overhaul of its strategy.

https://www.google.com/amp/s/www.thisismoney.co.uk/money/news/article-8007467/amp/Powerful-City-investors-raise-fears-delays-appointing-new-boss-HSBC.html

Barclays boss Jes Staley would be willing to tell the US authorities everything he knows about paedophile financier Jeffrey Epstein, The Mail on Sunday can reveal.

Victims of Epstein last night called on the banking chief to hand over any information he might have about his former client.

https://www.google.com/amp/s/www.thisismoney.co.uk/money/news/article-8007399/amp/Barclays-boss-Jes-Staley-ready-talk-FBI-Jeffrey-Epstein.html

VictorBlank
The results will lay bare the toll taken by the payment protection insurance (PPI) scandal. The High Street lender is expected to take a full-year hit of around £2.5 billion, having seen claims of £1.8 billion in the third quarter alone amid a rush ahead of the August deadline.

The City is expecting this to send pre-tax profits tumbling 25 per cent to £4.47 billion.

https://www.google.com/amp/s/www.thisismoney.co.uk/money/investing/article-8005305/amp/Future-Lloyds-boss-Antonio-Horta-Osorio-focus-bank-publishes-annual-results.html

https://www.lloydsbankinggroup.com/Media/Press-Releases/2020-press-releases/bank-of-scotland/bank-of-scotland-charity-note-auction/?optoutmulti=0:0|c1:1|c3:0|c5:0|c4:0|c2:0&optmessage=1

Investors looking to bet on a Brexit-fueled jump in Britain’s economy should consider buying shares in United Kingdom–based financial powerhouse Lloyds Banking Group .

https://www.google.com/amp/s/www.barrons.com/amp/articles/lloyds-stock-is-a-pure-u-k-banking-play-post-brexit-51581614328

What will bank branches look like in the future?

https://www.google.com/amp/s/www.bbc.co.uk/news/amp/uk-scotland-scotland-business-51379671

RBS gives a 5p special dividend, how nice is that? This will keep the shareholders happy

"A Bird in the Hand is Worth Two in the Bush"

Royal Bank of Scotland reported profit of £4.2bn for 2019 today, beating its financial targets as new boss Alison Rose outlined a rebrand of the bank to its Natwest name.
The figures
RBS posted an operating profit before tax of £4.23bn and an attributable profit of £3.13bn. Operating profit was 24 per cent higher than last year’s, and beat analyst expectations of £3.8bn.

For the fourth quarter, during which Rose took over, the bank posted an operating profit of £1.16bn and attributable profit of £867m.
RBS will pay a final dividend of 3p per share – or £362m in total – and a 5p special dividend that comes to £606m.

Leas

I'm topping up all the time lloyds is cheap as chips, it's a long-term hold for dividend 5+ percent

Valentine’s weekend

If Cupid strikes with a Valentine’s proposal this month, lovebirds are being urged to make sure their bling is properly protected. Last year, Lloyds Bank Home Insurance received 62% more claims for theft or loss of jewellery in quarter one, compared to quarter four.

https://www.lloydsbankinggroup.com/Media/Press-Releases/2020-press-releases/lloyds-bank/lloyds-bank-home-insurance-jewellery-claims/

Leas

The pound seems to like this reshuffle its Johnson's way or the highway. Sterling initially dipped on the news of the resignation but rallied strongly once Rishi Sunak, the chief secretary to the Treasury was appointed in his place

Barclays says FCA investigating CEO Staley over links with billionaire sex offender Jeffrey Epstein

Barclays said it remained confident in the ongoing leadership of chief executive Jes Staley while the City watchdog carries out an investigation into his historical links with billionaire sex offender Jeffrey Epstein.
The announcement was made in a separate statement alongside the UK high street bank’s annual results, which showed a profit before tax of £4.4bn for 2019, up 26% on the previous year.

Profits were dented by £1.4bn of additional provisions for the historical misselling of payment protection insurance (PPI) after the government set a final deadline for claims last summer.

Profit before tax, excluding litigation and conduct, was £6.2bn, up 9% year on year.

German digital bank N26 quits UK 'due to Brexit'
The bank has announced it is pulling out of the UK, saying it will no longer be able to operate in Britain with its European banking licence.

Barclays tomorrow will be first big British bank to report since Brexit
For the full year, Barclays is forecast to deliver pre-tax profit of £5.4bn compared to £3.5bn a year earlier, with the consensus estimate at £6.1bn for 2020.

A final dividend of around 6p per share is expected following the 3p paid share at the half-year stage, though the BoE's latest stress tests implied that sector dividends might need trimming.

Ruth Gregory at Capital Economics told the Telegraph:

"... even if the PMIs prove a little optimistic, it looks a safe bet that the economy started to grow again at the start of this year."

As a bellwether of the UK economy, any uptick should see Lloyds’ share price gain.

https://www.cmcmarkets.com/en-gb/opto/is-lloyds-share-price-the-most-undervalued-on-the-ftse-100

analysts at Jefferies International think the shares can reach 78p – a near 37% increase

https://www.fool.co.uk/investing/2020/02/12/have-1k-to-invest-i-think-the-lloyds-share-price-could-smash-the-ftse-100/

Nice rise for lloyds today the UK could be on the cusp of a fiscal stimulus, that could ultimately provide a solid base of support for the British pound in 2020. Government spending will provide a substantial boost to economic growth in the UK economy

stagecoach

"""Flu viruses in circulation in the UK winter of 2008/2009 took the lives of 13 thousand people and infected millions. Yet unlike Coronavirus and SARS these flu viruses had zero impact on UK financial markets. This suggests the current hysteria developing around coronavirus is completely irrational."""

Coronavirus will have a larger negative effect on the global economy than the SARS outbreak in 2003. At the time of SARS, China was the sixth largest economy, accounting for only 4.2% of world GDP. China is now the world’s second largest economy, accounting for 16.3% of world GDP. Therefore, any slowdown in the Chinese economy sends not ripples but waves across the globe.

If the current and unprecedented confinement measures in China stay in place until the end of February, and are lifted progressively beginning in March, the resulting economic impact will be concentrated in the first half of 2020, with a reduction of global real GDP of 0.8% in Q1 and 0.5% in Q2. In this scenario, the coronavirus and resulting measures will reduce global real GDP by 0.4% in 2020. Conversely, we expect the lifting of the confinement measures to add 0.4% to global real GDP in 2021, as the release in pent-up demand filters through the economy.

Boris approval of HS2 is a boom for the UK economy
As the UK takes its place in global markets, improving our connectivity and competitiveness as a country and
clearly demonstrating it has thrown open its doors for business and investment.

Pound Sterling was bid higher on Tuesday, Feb. 11 on the back of new data from the ONS that showed the UK economy grew in December, while quarterly data showed the economy stagnated at 0% in the final quarter of 2019.

UK GDP grew 0.3% in December, but this was ahead of expectations for growth of 0.2% to be recorded.

Quarterly growth, for the fourth quarter of 2019, came in flat at 0%, which is in line with market expectations. Annual GDP for the fourth quarter was at 1.1% which is better than the 0.8% the market had been expecting.

Currencies tend to react to data that beats or disappoints against expectations and the movement in Sterling on the GDP release is testament to this.

The Pound-to-Euro exchange rate briefly shot higher to 1.1857 after it as also revealed that year-on-year growth stood at 1.1% in the fourth quarter, better than the 0.8% markets had been expecting.