Mortgage-backed securities and PPI hit Barclays in Q1
Barclays has reported a group pre-tax loss of £236m for its first quarter following a £1.4bn settlement with the US Department of Justice (DoJ) over the sale of mortgage-backed securities.
PPI
-
-
Lloyds profits bolstered by lower PPI costs
Lloyds’ share price remained depressed, despite delivering a good set of first quarter figures, containing higher profits as Payment Protection Insurance (PPI) costs fall.
-
Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
-
Only 25% of complaints against SJP upheld
Only a quarter (25%) of complaints made against St James’s Place Wealth Management in the first half of 2017 were upheld the Financial Conduct Authority (FCA) revealed on Monday.
-
Lloyds’ past scandals spook share price
Shareholders in the FTSE 100 bank were hit with a double whammy on Thursday, as it agreed to set aside £300m to redress mortgage arrears and posted lower profits due to an additional £1bn of conduct charges.
-
CPI inflation remains ‘muted’ but input prices rise aggressively
Consumer price inflation was unchanged in August but economists warned we have yet to witness the full impact of sterling depreciation post-Brexit vote.
-
Chinese consumer provides Asian investor in-road
China’s GDP growth may be slowing, says Barings’ Hyung Jin Lee, but consumption-orientated in-roads are wide open for investors.