lloyds bank

Traders slashed bets on Federal Reserve interest rate cuts, the US audit regulator issued its biggest fine ever against KPMG, and the UK’s Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”.

Mentioned in this podcast:

Markets slash rate cut bets after US inflation rises to 3.5%

Investors lose hope of rapid US interest rate cuts this year

KPMG fined $25mn over exam cheating scandal at firm’s Dutch arm

Lloyds Bank axes risk staff after executives complain they are a ‘blocker’

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Cara Shillenn, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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How did our banks end up in such as mess with PPI? When will the pain for shareholders end?

Lloyds has been hit with a £117m claims mishandling fine to prolong its PPI agony.

It didn't need to be so bad though, Simon Lambert and Ed Monk, of This is Money, join Share radio's Georgie Frost to explain how banks continued to push PPI for years after problems had been flagged.

They also discuss whether investing in gold with the Royal Mint's new service is worth it, why everyone need to get the protection of lasting power of attorney, and whether a new Royal Mail shares sale would turn up another money-making opportunity.

The team also tackle two important questions:

Which shop would you bring back to the high street? And was Woolworths actually any good?

Hosted on Acast. See acast.com/privacy for more information.