UK’s Big Four retail bank, part of NatWest Group
NatWest and Lloyds report higher half-year profits, with NatWest posting 4.3bn pre-tax profit and Lloyds following with 4.3bn, as AI and cost-cutting drive efficiency and expansion in wealth management and digital services.
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.
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.
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.
Leeds Crown Court has convicted two men, Baqa Haider and Nathan Rivers, for their roles in an "industrial scale" scheme that processed criminal cash into gold and exported it with fake invoices. Haider has been jailed for six years; Rivers has received a 27‑month suspended sentence and a curfew. Police are still seeking three men sentenced in absence.
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.
UK banks are offering £200-plus to switch current accounts, alongside better savings rates. Experts warn that while switching is easy, readers should check terms and the broader impact on loyalty and service quality. The trends reflect a shift in consumer behaviour as inertia meets promotional incentives.
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.
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.