Banking

The Bank of England (BoE) has raised interest rates again, from 1% to 1.25%, as it attempts to fight rising inflation. The bank’s Monetary Policy Committee (MPC) by a majority of 6-3, voted to increase the bank rate by 0.25 percentage points.

Fashion-conscious individuals should be on the lookout for fake adverts claiming to offer designer trainers, with a surge in scams cases reported so far this year, according to Bank of Scotland owner Lloyds Bank.

Revolut, the global financial super app with more than 18 million customers worldwide, has announced a streamlined version of the Revolut app will be available in five new countries in the next couple of months. Customers in the additional countries can transfer money to 50+ countries quickly, bring

Bank of Scotland owner Lloyds Banking Group is close to agreeing a compensation deal for victims of the Reading HBOS scandal. After mounting pressure from small business representatives and the Financial Conduct Authority, it has been reported that the banking giant has agreed to offer victims of th

Clydesdale Bank owner Virgin Money is to cut loan approvals from five days to twenty minutes thanks to its new three-year deal with fintech Trade Ledger.

The latest Royal Bank of Scotland PMI data indicated a softer expansion of private sector output across Scotland in May, with the seasonally adjusted headline Royal Bank of Scotland Business Activity Index falling from 58.9 in April to a three-month low of 55.9 in May. Slower increases in output wer

The Cumberland Building Society is embarking on major investment as it promises to offer banking services that are "kinder to people and planet". The pledge comes in its annual report, published today, which underlines its position as the region's leading mortgage and savings provider.

Business confidence in Scotland rose 14 points during May to 42%, the highest reading since June 2021, according to the latest Business Barometer from Bank of Scotland Commercial Banking. Companies in Scotland reported lower confidence in their own business prospects month-on-month, down three point

The Scottish National Investment Bank (SNIB) has spent £1750,000 in recruitment fees after it hired London-based Spencer Stuart to help it find a new chief executive after Eilidh Mactaggart resigned earlier this year. Scottish Financial News reported in February that Ms Mactagagrt resigned, wh

Over three fifths (68%) of small and medium-sized businesses (SMEs) in Scotland are expecting to see revenues rise this quarter when compared to the same period last year, according to the latest quarterly Barclays SME Barometer. On average, Scottish SMEs expect to see a 10.4% rise between the month

Revolut Business, the business banking app run by the challenger bank, is launching ‘Spend Management’, a new suite of solutions to help CFOs and controllers manage their teams’ spending.

The ClearScore Group has announced plans to create 100 new jobs in Edinburgh through the launch of an Open Banking centre of excellence in the city. Over the next few years, the group plans to employ over 100 new members of staff, including developers, data engineers, data scientists and product and

Almost a quarter (24%) of Scottish small or medium-sized enterprises (SMEs) have seen the number of late payments they receive increase since the cost of living has gone up, according to new research from Barclays.

The UK’s small businesses will be run by personal avatars by 2050 thanks to powerful advances in artificial intelligence (AI) in the coming decades, according to a new futurology report commissioned by Virgin Money, owner of Glasgow-based Clydesdale Bank.

US investment bank Goldman Sachs has revealed that its senior staff will be allowed to take as much holiday as they want. Under the bank's new "flexible vacation" plans, there will be no limit on paid leave.