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The Latest Breaking News from Charlie Nunn

AI push is putting banks at mercy of tech firms, warns Moody’s

Finance sector will gain from the tech but it will need substantial investment and create risks, says rating agency

The Guardian - UK

Bank battle: history suggests Burnham faces fight if he opts for windfall tax

As lenders’ profits soar, calls grow for a levy to help new PM ease cost of living pressures on households

The Guardian - UK

Lloyds Bank to cut £2bn in costs as part of AI-powered strategy

Chief executive says the four-year plan will lead to greater efficiency but gives no details of potential job losses

The Guardian - UK

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Lloyds targets another £2bn cost-cutting as half-year profit jumps by 23%

The banking group unveiled the new four-year strategy which will come into effect from 2027.

Evening Standard

Lloyds kickstarts £2bn cost-cutting plan powered by AI after scrapping Halifax brand

Lloyds recently decided to scrap the Halifax brand and change it to Lloyds

The Independent UK

Lloyds Banking Group to hire 300 tech experts to work on AI

Exclusive: While recruits will increase headcount for now, broader adoption of AI could lead to job cuts in future

The Guardian - UK

Halifax could disappear from UK high streets as Lloyds assesses branding strategy

Bank founded 174 years ago could be phased out from as early as 1 July as part of group’s review

The Guardian - UK

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Lloyds investigating after using staff’s bank account data in pay talks

CEO Charlie Nunn tells employees that issue ‘created some concern’ but insisted ‘we definitely have listened to it’

The Guardian - UK

Lloyds sets out new pay policy with potential for boss to land £17.7m payout

Lloyds said the changes would more closely align pay to the financial performance of the bank.

Evening Standard

Lloyds boss warns bankers must ‘reskill themselves’ to survive AI boom

Charlie Nunn says banks will be hiring staff with different skill sets as customer experience will ‘radically change’

The Guardian - UK

Lloyds CEO Charlie Nunn latest banking boss in line for huge bonus hike

Barclays, HSBC and NatWest shareholders already approved big pay rises after post Brexit loosening of remuneration rules

The Guardian - UK

Lloyds earnings slide by 36% after motor finance hit

The bank reported a pre-tax profit of £1.2 billion between July and September.

Evening Standard

FTSE 100 Live 23 October: Index near record, results boost for Rentokil and LSEG

Lloyds Banking Group and Unilever are among the companies in the spotlight amid a busy session for FTSE 100 updates.

Evening Standard

Lloyds to put chief executive and all top bosses through six-month AI course

Around 300 senior managers across the banking group are expected to take part in the bespoke programme.

Evening Standard

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The Guardian - UK

Barclays boss urges UK ministers to limit public sector pay rises

TUC says CS Venkatakrishnan has ‘brass neck’ calling for curbs when his pay packet has doubled to £10.5m

The Independent UK

Voices: Does firing your worst employees ever make business sense?

COMMENT : As Lloyds plans to cut its bottom 5 per cent of staff, James Moore asks if threatening thousands of ‘underperformers’ with the sack can have an energising effect on the workforce

The Guardian - UK

Lloyds to warn 3,000 staff they face sack for ‘underperformance’

With economic uncertainty leading fewer people to leave, bank will put one in 20 on ‘performance plans’

Evening Standard

Lloyds boss warns Reeves against raising bank taxes amid growth mission

Charlie Nunn said such increases would not be ‘consistent’ with the Government’s plans.

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The Guardian - UK

Lloyds boss warns Reeves against hiking taxes on banks as profits rise 17%

Charlie Nunn says higher taxation would be inconsistent with chancellor’s drive for growth

The Guardian - UK

Reeves unveils City strategy aimed at cutting red tape and fuelling UK growth

‘Leeds Reforms’ include streamlined accountability for senior bankers and a campaign to get more consumers investing in stock market

The Independent UK

Lloyds chief slams detail in Labour’s pension plan

IN FULL

The Independent UK

Labour’s pension plans remind me of communist China, says Lloyds chief

Proposed £25bn megafunds will seek to create more long-term wealth for people

Evening Standard

Prince of Wales wants project to end homelessness ‘to move to the mainstream’

The prince visited an 11-bed housing scheme in Poole for people with mental health issues.

Evening Standard

Lloyds boss gets nearly £2m pay rise amid profit slump and branch closures

Chief executive Charlie Nunn took home £5.6 million last year, boosted by long-term bonus payments tied to Lloyds’s shares.

The Guardian - UK

Lloyds puts aside a further £700m for compensation over car finance scandal

Profits hit as total held back for payouts rises to almost £1.2bn amid uncertainty over final financial impact

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