1. British Airways owner IAG returns to profit but shares fall
For the year to December 31, 2022, pre-tax profits were €431mln compared to a loss of €2.93bn in 2021 as revenue jumped to €23.07bn from €8.46bn.
2. Lloyds, Natwest and other banks' margins to fall
Most UK banks’ net interest margins (NIM) are close to peaking due to the approaching end of policy rate rises, higher pass-through rates to depositors, and lower yields and volumes in key lending segments, Fitch Ratings said Friday.
3. FTSE 100 closes Friday in the red
The FTSE 100 failed to change its fortunes into the weekend closing Friday slightly lower, finishing at 7,878.
4. EFL TV rights set to double with Dazn rumoured to be interested
The cost to secure the TV rights for the Championship, League One and League Two, is expected to double to over £200mln a year, according to the Daily Mail.
5. Goldman Sachs expects legal costs to soar
The Wall Street bank has been a target of lawsuits ranging from its role in Malaysia’s 1MDB sovereign wealth fund scandal to the collapse of Archegos Capital Management in 2021.