Finance Matters

According to a report in the Sunday Times, banking giant Lloyds is set to axe a further 15,000 jobs, as part of a cost-cutting exercise. The job losses are expected to be revealed at the end of this month by chief executive, Antonio Horta-Osorio, who assumed the role earlier this year after being poached from [...]

The US trade deficit narrowed sharply in April, figures showed today, due to a record increase in exports. According to the Commerce Department, the trade deficit narrowed to $43.7 billion from March’s figure of $46.8 billion – surprising analysts who had expected a rise to $48.7 billion. Exports rose 1.3% on a monthly basis to [...]

The European Central Bank (ECB) has today elected to keep interest rates on hold at 1.25% but hinted that rates may rise again next month. In April, the ECB lifted rates from 1% to 1.25% in a bid to tame rising inflation in the 17-member euro zone – it was the first time in almost [...]