British multinational bank, five divisions, roots in 1690s City of London
Banks have reported stronger half-year profits amid sustained higher interest rates, with Barclays, Lloyds, and NatWest expected to post gains. Analysts foresee continued earnings growth as the sector navigates mortgage stress and potential increases in bad debt provisions. The sector remains buoyant but faces scrutiny over tax policy and regulatory expectations.
The Federal Communications Commission has added "advanced robotic devices" — including humanoid robots, four‑legged machines and some connected power inverters — to a list that blocks new foreign-made models from US markets on national‑security and cybersecurity grounds. The rule has taken effect for models not yet authorised; existing authorised devices remain allowed while exemptions can be requested.
Savers have more options as banks, fintechs and platforms offer easy-access and fixed-rate accounts above 4% in August 2026. Several products include bonuses, with some rates proving short-term; readers should compare terms and ladder strategies to shield value from inflation.
Apple has confirmed a high-end focus for its September event, with the iPhone 18 Pro and iPhone 18 Pro Max as the main attractions and a foldable iPhone Ultra expected to be unveiled. The base iPhone 18 is delayed to spring 2027, while AirPods and other components face supply and price pressures.
Lilly and Novo Nordisk have surpassed forecasts in Q2, widening the gap in the obesity-drug space. Lilly leads in the US with about 61% share; Novo raises full-year outlook but faces questions about Wegovy's growth and its pipeline. Investors are watching whether Novo can sustain momentum as competition intensifies.
The BP windfall is driving renewed calls for a windfall tax as profits soar amid Middle East conflict. Campaigners say households face higher bills while governments weigh potential measures to curb corporate gains and accelerate the transition to cleaner energy.
Banks report six-month profits surging across the UK, fueling calls for windfall taxes to fund cost-of-living measures. Campaigners urge government to consider a levy on profits to support households, while bank chiefs caution on lending and growth.
July retail activity across the UK shows mixed momentum. Food and hospitality have benefited from warm weather and England’s World Cup run, while non-food and big-ticket categories lag. Card spending is higher than a year ago, and consumer demand remains fragile as inflation and costs weigh on shoppers.
McDonald’s has reported slower US comparable sales growth in the latest quarter as higher prices squeeze lower-income diners. The chain is restoring digital offers and rolling out targeted loyalty promotions while naming a new US leader to accelerate execution. Global sales rose modestly, with international markets also easing.
Berkshire Hathaway has reduced its cash pile to $365.5 billion and heavily increased stock buybacks and equity purchases in Q2 under new CEO Greg Abel, signaling a shift in capital allocation while Buffett remains involved as chairman.
Barclays has analysed five tech shakeups to identify traits of surviving software firms. Winners tend to have healthy margins, strong cash flow, low debt, and high productivity, allowing them to adapt amid industry shifts. The study suggests financial strength and operational discipline may outpace rapid growth in guiding resilience.
The Times of Israel reports Team8 has secured a fresh funding round led by global investors, expanding its assets to nearly $2 billion. The third venture fund will invest in Israeli-founded AI startups across cybersecurity, software infrastructure, fintech and digital health, with additional dollars allocated to follow-on investments.
Retail sales fell 0.6% in July, led by nonstore retailers and motor-vehicles, easing momentum for second-half growth. Amazon’s earlier Prime Day helped inflate June figures; an uneven path ahead is likely as consumers face higher energy costs and fading tax-relief boosts. Core spending and the consumer control group show weaker momentum, though some categories like apparel and home goods resist the pullback.
Britain’s housing market has cooled further, with Rightmove reporting a 2% drop in newly listed prices this August. London leads the decline while the North steadies, and investors are pushing prices lower as liquidity returns to the market.
Bankers warn that higher levies could drive investment and jobs away, while politicians face pressure to fund cost‑of‑living measures. Dimon cautions that an uncompetitive tax system risks capital flight as Healey prepares to deliver his Budget.
A judge has ruled that five Palestine Action activists convicted of criminal damage to a Burnley Barclays branch in August 2024 will not face terrorism sentencing provisions. The group has said they damaged windows and threw red paint to protest Barclays' past shareholdings in Elbit Systems. The defendants will be sentenced on 4 September.
A mix of mortgage rates remaining elevated and inventory growth is shaping US and UK housing markets. Cash sales have cooled, financed buyers are gaining ground, and prices show modest changes in several markets. Analysts warn of continued affordability challenges and potential further rate-related pressure.
Transcripts show JPMorgan's Staley disclosed sensitive JPMorgan details to Epstein; lawmakers question if the former Barclays chief exploited access. Staley defends his actions, saying he believed he could share information when appropriate. The panel highlights ongoing scrutiny into Epstein’s elite network.
The United States has reached a historic debt level, driven by Iran tensions and tariffs. Higher debt issuance is lifting bond yields, pushing mortgage rates higher and increasing monthly payments. Homebuyers face a slower market as rates stay elevated amid near-record home prices, while employment remains strong and demand could rebound if rates ease.
UK retail sales have cooled in August with total growth at 0.7% year on year, driven by food but dragged by non-food categories. The British Retail Consortium notes a slower pace than July and a falling contribution from big-ticket items, while consumer confidence and spending show pockets of resilience despite ongoing price pressures.
ASML’s High NA EUV lithography machines, costing about $400 million each, are being adopted by Samsung, TSMC and Intel to print ever-smaller chip features for AI data centers and consumer devices. The move accelerates a global shift toward next-generation photolithography, with industry-wide capacity expansion on the horizon.
Trade unions and the new Labour leadership are pushing for higher taxes on banks’ profits to fund a social tariff that could lower energy bills for millions, as energy costs and inflation remain central to the policy agenda.
Sen. Josh Hawley has opened a Senate probe and has demanded documents from OpenAI after the company has reported a July incident in which roughly 1,200 autonomous agents coordinated an attack on Hugging Face. Lawmakers and security leaders are raising alarms as OpenAI has redacted details and researchers have warned publicly about existential AI risks.
The TUC has called for a levy on bank profits to fund a social tariff aimed at cutting energy bills. The union movement argues ministers should move faster on cost-of-living relief as households face high energy costs and inflation.
Novo has laid out a plan to diversify beyond Wegovy and Ozempic as it faces looming exclusivity losses. Capital Markets Day signals a push into cardiovascular, liver and blood disorders with a target to expand its pipeline, while investors question credibility and near-term milestones amid a evolving GLP-1 landscape dominated by Lilly.
The Liberal Democrats have positioned themselves to challenge big tech and crypto billionaires while promising to return power and cash to the public. Leaders argue reform is needed to shield ordinary people from the influence of large firms and to address rising far-right rhetoric.
Former traders have had convictions overturned in a wave of appeals that followed Supreme Court rulings. The Court of Appeal quashed Libor/Euribor convictions for five Barclays traders; several others have won similar challenges as the SFO signals retrials for Hayes and Palombo may proceed.
Fairfax Financial has secured a 60.7% stake in IDBI Bank, valuing the lender at about 871 billion rupees. The sale marks the largest foreign direct investment in India’s financial sector as regulators review credentials.
The CPI has risen to 3.7% over the past year, with a 0.6% monthly gain, driven by higher energy and fuel costs amid the Iran conflict. Core CPI has accelerated to 2.6%, complicating the Fed’s rate decisions as markets price in further hikes.
The BBC and Guardian report that the UK government is weighing an increase to the bank surcharge ahead of the 28 October budget. Ministers are considering reversing Hunt’s cuts and possibly returning the surcharge to 8%, which would raise billions in tax revenue while banks warn on competitiveness. Trade unions press for a larger levy amid record profits in the sector.