AGP Executive Report
Last update: 11 hours agoBudget and Business: British business confidence slumped after the Budget, with firms scaling back investment and hiring plans. Lloyds also warned the proposed £1.5bn bank tax increase could weaken growth and push up mortgage costs. Banking and Markets: NatWest reported £2.2bn in quarterly pre-tax operating profit, while BP’s profit quadrupled to $8.46bn, its highest quarterly result in 18 years. Housing: UK house-price growth slowed to its weakest pace since January 2024, and lenders approved the fewest mortgages since 2023 as borrowing costs rose. Fintech Regulation: Crypto exchange HTX is leaving the UK after settling an FCA case over unlawful promotions, with customers told to request withdrawals. Digital Finance: The Bank of England is consulting on allowing tokenised collateral at central counterparties, a step towards wider use of tokenised assets in financial markets.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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