Lloyds Banking Group has reported an 11 per cent fall in pre-tax profit for the first quarter of the year, after making a £660m loss on the sale of TSB. The bank’s Q1 results, published today, show it made a £1.2bn profit in the first three months of the year, down from £1.4bn in the […]
The mortgage advice industry is now in far better shape than it was just a few years ago but when it comes to innovation I cannot help feeling it is the poor relation compared with the investment advice market. There is far less competition in terms of leading-edge solutions to meet consumers’ needs. While investment […]
The founder of insurance and investment firm Resolution Clive Cowdery has given £50m to the Resolution Trust, a think-tank that aims to improve the lives of people on low and middle incomes. To coincide with the new funding, Resolution Foundation chief executive Gavin Kelly will become chief executive of the Resolution Trust and retiring MP […]
Figures were boosted elsewhere in the business, particularly with a 17 per cent increase in assets at LGIM.
What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.
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