Lloyds Banking Group Faces Fresh Provision Test After FCA Finalises UK Motor Finance Redress
Lloyds Banking Group is reviewing the UK regulator’s final motor finance redress scheme, which covers 12.1
British American Tobacco’s Velo Push Hits FDA Delay as U.S. Nicotine Pouch Reviews Stall
British American Tobacco’s U.S. launch of Velo nicotine pouches faces delays as the FDA has not yet approved several products under its fast-track review, Reuters reported. BAT’s applications remain unresolved despite expectations
Rolls-Royce Starts First Large UK Battery Project in Scotland as Power Push Builds
Rolls-Royce Holdings has started construction on a 43-megawatt battery storage facility in Falkirk, Scotland, its first large-scale UK battery project, with grid
Blackstone Raises Record $6.3 Billion Life Sciences Fund to Back Pharma and Medtech Programs
Blackstone closed a $6.3 billion life sciences fund, the largest private fund of its kind, nearly 40% bigger than its previous vehicle.
Barclays PLC Faces Fresh Test After UK Car Finance Bill Lands at £9.1 Billion
Britain’s Financial Conduct Authority set the final cost of a car-finance compensation scheme at £9.1 billion, below last year’s estimate. Barclays faces
Woodside Keeps Browse CCS Alive With Plan to Refile Under New Australia Law
Woodside has withdrawn its Browse carbon capture and storage project from Australia’s federal approvals process and will resubmit under the amended EPBC
HSBC Holdings Plc CEO Doubles Down on AI Overhaul as Cost-Cut Drive Sharpens
HSBC named David Rice as its first chief AI officer, effective April 1, as CEO Georges Elhedery pushes an AI-led overhaul. The bank may cut up to 20,000 jobs, mostly in non-client roles, according to Bloomberg. HSBC reported a 7% drop in 2025 pretax profit to $29.9 billion but raised its profitability target. The lender also issued $130 million in senior unsecured notes due 2036.
Tencent Stock News: Fresh Buyback Filing Lands as AI Push Tests 0700.HK
Tencent repurchased 610,000 shares for HK$300.7 million on March 27, following a 590,000-share buyback the previous day, filings showed. The company said
Lloyds tipped as front-runner for Aegon UK business as bidders circle
Lloyds is leading the first round of bids for Aegon’s UK business, valued at £1–1.5 billion, according to Financial News. Phoenix Group
Northern Star share price edges up after Citi upgrade as gold swings near $5,000
Northern Star Resources shares closed up 0.3% at A$28.46 after Citi upgraded the stock to “buy.” The company last week reported a
Intel stock price: INTC slips in premarket after DA Davidson calls turnaround a “show me” story
Intel shares fell 1.2% to $45.93 in premarket trading Friday after DA Davidson initiated coverage at Neutral with a $45 target, citing
London Stock Exchange Group Turns to Dell for Private Cloud as AI Strategy Faces Investor Test
London Stock Exchange Group announced a multi-year deal with Dell Technologies to build a private cloud platform and upgrade internal infrastructure. The agreement expands LSEG’s multi-cloud strategy beyond its current public-cloud systems. The move comes as LSEG faces investor pressure to show that cloud and AI investments can deliver stronger growth and margins. Dell will provide servers, storage, and automation software for the new platform.
GSK plc Completes ViiV Healthcare Shake-Up as Pfizer Exits, Shionogi Lifts Stake
Shionogi increased its stake in ViiV Healthcare to 21.7% as Pfizer exited, leaving GSK with a 78.3% majority. ViiV issued new shares to Shionogi for $2.125 billion and paid Pfizer $1.875 billion. GSK received a $250 million special dividend and removed an accounting liability tied to Pfizer’s exit. The transaction followed Chinese approval of GSK’s asthma drug Exdensur.
RELX PLC Buyback Gains Pace as AI Worries Shadow April Trading Update
RELX bought 3.43 million shares for about £83.5 million between March 23 and March 27 under its new £350 million buyback plan. The shares will be held in treasury. RELX has repurchased 31.06 million shares since January 2 and now holds 35.16 million shares in treasury. The company will hold its annual general meeting and publish a trading update on April 23.
NatWest Group Plc strikes new Sainsbury’s Nectar banking deal with savings, loans and card
NatWest Group and Sainsbury’s will launch new financial products for Sainsbury’s customers, including instant-access savings, unsecured loans, and a NatWest Nectar credit card, starting in the second half of 2026. The move follows NatWest’s 2025 acquisition of Sainsbury’s Bank’s core portfolios and will offer Nectar-linked benefits through Sainsbury’s digital channels using NatWest Boxed.
British Airways Parent IAG Set for Heathrow Cost Break, but Fuel Shock Still Looms
Britain’s Civil Aviation Authority proposed raising Heathrow’s passenger charge to a midpoint of £28.80 for 2027-2031, just 1.4% above current levels. The figure is 16% below Heathrow’s forecast and 25% above what airlines sought. IAG, owner of British Airways, stands to benefit as it faces higher fuel costs and ongoing network disruptions. British Airways has extended flight cancellations to several Middle East destinations through May.
Lloyds Banking Group Faces Fresh Provision Test After FCA Finalises UK Motor Finance Redress
Lloyds Banking Group is reviewing the UK regulator’s final motor finance redress scheme, which covers 12.1 million agreements and could return £7.5 billion to customers. Lloyds’ provision for motor finance costs stands at £1.95 billion. The FCA set deadlines of June 30 and August 31 for firms to prepare for claims. Lloyds shares rose 1.3% after analysts said the scheme may not require major changes to its provision.
BAE Systems plc Confirmed for £95 Million UK Radar Contract as Britain Moves to Unlock Offshore Wind
Britain has awarded BAE Systems a £95 million contract to supply and integrate new air-defence radar systems under the RAF’s NJORD programme, aiming to protect airspace as offshore wind farms expand. The contract was signed on Feb. 26 after a restricted competition and publicly named on March 31. Installation is expected to begin in early 2029. The government has not disclosed the radar type, citing security concerns.
Rio Tinto Refreshes $10 Billion Debt Programme as Copper and Lithium Spending Builds
Rio Tinto published an updated prospectus for its $10 billion Euro Medium Term Note programme, approved by the UK Financial Conduct Authority, as it seeks funding for copper and lithium expansion amid cyclone-hit Pilbara iron ore shipments. Net debt rose to $14.36 billion in 2025, while free cash flow fell 28%. Rio recently secured $1.175 billion for its Rincon lithium project and launched a $500 million drilling campaign at Resolution Copper.
British American Tobacco’s Velo Push Hits FDA Delay as U.S. Nicotine Pouch Reviews Stall
British American Tobacco’s U.S. launch of Velo nicotine pouches faces delays as the FDA has not yet approved several products under its fast-track review, Reuters reported. BAT’s applications remain unresolved despite expectations for decisions by end-2025. The company relies on smoke-free products to offset falling cigarette sales and reported 2025 new-category revenue up 7% to £3.62 billion. FDA scientists have cited concerns about youth addiction risks.
Barclays PLC buyback tops 105 million shares as fresh risks test £15 billion return plan
Barclays said it has repurchased 105.5 million shares since Feb. 10 as part of a £1 billion buyback, reducing its voting share capital to 13.73 billion shares at March-end. The move follows a 5.6 pence dividend payout and comes as the bank faces risks from UK car-finance compensation costs and private credit shortfalls. Barclays shares rose up to 4.1% on Wednesday amid sector gains.
Unilever PLC’s $65 Billion McCormick Deal Draws Union Warning, Splits Investors
Unilever said it will merge its food business with McCormick in a $65 billion deal, shifting brands like Knorr and Hellmann’s into a new company and narrowing its focus to household and personal care. Unilever shares fell 7% after the news, while McCormick dropped 5%. The deal, using a Reverse Morris Trust, is expected to close by mid-2027. Unilever’s European Works Council warned of possible strikes over job uncertainty.
Glencore Extends South Africa Smelter Job-Cut Deadline to April 7 in Eskom Power Talks
Glencore-Merafe Chrome Venture extended its retrenchment consultation deadline to April 7 as Eskom requested more time to finalize a discounted power deal at 62 South African cents per kWh. The venture warned job cuts affecting up to 1,500 workers remain likely if tariff terms are not improved. Samancor Chrome, also offered the lower rate, resumed layoff plans that could impact 2,400 employees. Merafe reported a 63% drop in 2025 ferrochrome output.
HSBC appoints new China wealth chiefs as mainland growth push gathers pace
HSBC named Max Xu to lead International Wealth and Premier Banking in China and Samuel Chen as China private bank head, both effective April 1. Wealth invested assets in mainland China rose 37% in 2025, but HSBC’s mainland pretax profit fell 66% last year. The bank is weighing cuts affecting up to 20,000 roles and named its first Chief AI Officer last week. HSBC’s market value briefly topped $300 billion in January.
BP PLC CEO Meg O’Neill Promises Consistency as Debt Reset Faces First Test (Reuters)
Meg O’Neill, BP’s first external and first female CEO, pledged “clear direction and consistency” as she took over, promising continuity in oil and gas. BP halted share buybacks in February to cut debt and fund projects, with net debt at $22 billion and next results due April 28. O’Neill inherits a weaker balance sheet than rivals. Asset sales have reached $11 billion toward a $20 billion target by 2027.
Rolls-Royce SMR Project Moves Closer to Wylfa Build After £300 Million Contract Award
Great British Energy-Nuclear awarded a contract worth up to £300 million to an Amentum-Cavendish Nuclear joint venture for the Wylfa small modular reactor project in North Wales. The 14-year agreement will support deployment of Rolls-Royce SMR technology. Britain selected Rolls-Royce SMR for the site in 2025, with the first units planned for the mid-2030s. Rolls-Royce expects regulatory design approval by December 2026.
Shell Plc Eyes 20 Trillion Cubic Feet of Venezuela Gas Near Trinidad as LNG Crunch Deepens
Shell is in advanced talks with Venezuela to develop four offshore gas areas near Trinidad, potentially unlocking about 20 trillion cubic feet of gas for Atlantic LNG. The move comes as global LNG prices surge 85% since late February after the Iran war disrupted Qatari supply. Chevron may exit stakes in Loran, opening room for Shell. Russian interests and U.S. sanctions remain obstacles to final agreements.
UK & AU Stock Market Today: Live Updates 01.04.2026
LIVEMarkets rolling coverageStarted: April 1, 2026, 12:00 AM EDTUpdated: April 1, 2026, 2:27 PM EDT England launches Simpler Recycling with 37 banned bin items and £400 fines April 1, 2026, 1:52 PM EDT. England's new Simpler Recycling scheme starts this week, standardising waste collection into four bins: food and garden waste, paper and card, dry recyclables, and general rubbish. **Thirty-seven items are banned from bins**, including glassware, ceramics, electricals, plastic packaging labelled biodegradable, and absorbent hygiene products. The Department for Environment, Food and Rural Affairs aims to end the postcode lottery of recycling rules by creating a universal system across
Westpac Banking Corporation Warns RBA Could Hike Three More Times, Cash Rate Seen at 4.85%
Westpac expects the Reserve Bank of Australia to raise the cash rate three more times this year, reaching 4.85% by August, citing inflation from Middle East fuel disruptions. The bank’s customers began paying higher mortgage rates from March 31 after Westpac passed on the RBA’s last increase. Peers NAB and ANZ forecast fewer hikes. Markets remain cautious, with traders pricing in a lower chance of further rises.
UK Mortgage Rates Jump, Homebuyers Retreat as Iran War Threatens House Price Rebound
UK house prices rose 0.9% in March, the biggest monthly gain since December 2024, according to Nationwide, lifting the average to £277,186. Mortgage rates jumped, with average two- and five-year fixes above 5.3%, and buyer enquiries in March fell 13% from a year earlier, Zoopla said. Regional price growth varied sharply, with Northern Ireland up 9.5% and East Anglia down.
American Express Replaces Visa as NFL Payments Partner, Leaves XRP Speculation Behind
American Express will replace Visa as the NFL’s official payments partner starting with the 2026 season under a multi-year global deal announced Monday. AmEx cardholders gain access to ticket presales, promotions, and on-site experiences at select NFL events, including international games. Visa’s league-wide sponsorship expired this month after nearly 30 years. Terms of the new agreement were not disclosed.
National Australia Bank Says It Contacted 200,000 Businesses as Fuel Costs and Rate Risks Mount
National Australia Bank said it contacted nearly 200,000 business customers since early March to assess the impact of surging fuel prices, with most managing without hardship help. The outreach follows a 59% jump in Brent crude in March and government moves to cut fuel taxes. NAB’s Consumer Stress Index hit its highest since 2014, while the bank and rivals raised home-loan rates after the RBA’s March hike.
Woodside Energy Group Ltd Resets Browse Carbon Capture Plan Under Australia’s New Law
Woodside Energy has withdrawn its Browse carbon capture and storage proposal from Australia’s federal approvals process and plans to refile under new environment laws. The move keeps the emissions plan for the Browse gas project active. The Browse project is intended to supply the North West Shelf LNG plant, which received approval last year to operate until 2070. Woodside has not provided a timetable for the new filing.
BHP Group Ltd shares jump 5% as China PMI surprise lifts miners (Reuters)
BHP Group’s U.S. shares rose 5.4% to $72.74 Tuesday after Chinese factory data showed the fastest expansion in a year, lifting mining stocks. China’s official PMI climbed to 50.4 in March, beating forecasts. Iron ore futures stayed near $106 a ton as traders balanced stronger steel demand with high inventories and energy costs. BHP faces an operational review April 22 amid ongoing pressure from Chinese import restrictions.
Commonwealth Bank of Australia Flags Card Rewards Changes After Australia’s Surcharge Ban
Commonwealth Bank of Australia warned it may alter card rewards and benefits after the Reserve Bank banned most card surcharges and slashed interchange fees, effective Oct. 1. CBA said the changes would squeeze funding for payments infrastructure and signaled potential impacts for customers, but gave no timeline or details on affected products.
Dow, S&P 500 and Nasdaq Soar on Trump Hormuz Shift, but Oil Risk Lingers
The S&P 500 jumped 2.91% and the Nasdaq gained 3.84% Tuesday after reports that President Trump may accept ending the Iran conflict without reopening the Strait of Hormuz. Brent crude spiked above $118 after Iran struck a tanker near Dubai, then fell back as market fears eased. Technology stocks led the rebound. U.S. gasoline topped $4 a gallon.