Lloyds takes Β£151m hit from Iran war as it forecasts rise in UK unemployment
Bank expects its base case for GDP growth to be 0.5% this year, lower than IMFβs 0.8% prediction for BritainBusiness live β latest updatesLloyds has warned that the economic fallout from the Middle East conflict could cost it Β£151m amid rising unemployment and inflation and a slowdown in the housing market.The FTSE 100 group, whose brands include Lloyds Bank, Halifax and Bank of Scotland, issued a downbeat economic forecast that it said reflects the stagflationary consequences β the double hit of rising inflation at the same time as slower economic growth β for the UK and global economies. Continue reading...
theguardian.com