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Banking giants ‘turning their backs’ on rural Devon, say MPs

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Ministers are calling on the government to protect face-to-face banking services in the county

Lloyds Bank in East Street, Ashburton, which has closed (Image: Google - free for use by all LDRS partners)

Lloyds Bank in East Street, Ashburton, which has closed(Image: Local Democracy Reporting Service / Google)

Britain’s largest banks have been criticised by MPs over the ‘decimation’ of rural services, which is leaving communities in areas such as Devon without adequate provision.

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South Devon Liberal Democrat MP Caroline Voaden led a Westminster Hall debate centred on face-to-face banking services in rural communities.

“While big banks make billions in profits they close branches with impunity,” she said. “They are turning their backs on customers and leaving small businesses struggling.”

Last year, she said, Lloyds posted £6.7bn in profit, which she described as an ‘incredible’ sum, meaning the bank had ample resources to sustain rural banking services.

“Nobody needs to be making £6.7bn of profit a year,” she added.

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Fellow Devon MPs also contributed to the debate, with Exmouth and Exeter East Conservative MP David Reed noting that every major bank had departed Budleigh Salterton, leaving the town and its summer visitors with no means of accessing cash beyond a machine at Tesco.

Ms Voaden said that 64 per cent of all bank and building society branches that were open in January 2015 have since shut their doors, and across the 450 square miles of the South Devon constituency just a single bank branch remained.

“It is simply outrageous that banks have been able to get away with this,” she said.

“Face-to-face banking is essential for millions of people and thousands of small businesses. The rapid and ruthless shift towards online banking is potentially disenfranchising millions of people.”

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Statistics reveal that 86 per cent of people in rural areas have witnessed their nearest bank branch shut its doors, with no alternative bank to switch to. Travelling to a bank via public transport can be a ‘major mission’ taking up to half a day.

“We are facing a perfect storm of decimated public transport, appalling digital connectivity and closure of banking services,” said Ms Voaden. “Those three make a toxic combination.”

The South Devon MP called for the criteria for opening a town banking ‘hub’ to be broadened, adding: “Having a bank account and being able to access a range of banking services are a necessity in modern society, not a luxury.

“The government must rebalance things in favour of our high streets and communities and put an end to the favourable treatment for big banks.

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“Enough now – it is time that the government took action to protect and restore face-to-face banking services across rural areas.”

Tiverton and Minehead’s Liberal Democrat MP Rachel Gilmour said her constituency spans 1,250 square miles and has a predominantly elderly population.

Should a constituent need to visit a bank in Taunton, she added, the round trip by bus takes five hours.

Richard Foord, the Liberal Democrat MP for Honiton and Sidmouth, described the loss of local branches as ‘an appalling bank heist’, adding: “It is not a vault being raided, and it is not cash being snatched. It is the very banking services that support our most vulnerable being taken away.

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“Lloyds closed 218 branches across the country last year, including in Seaton, and will close 95 more in the next year, including in Honiton, while reporting £6.7bn of pre-tax profits. That is an outrage, and the government needs to do more to ensure that the most vulnerable in our society get the services they need in rural regions.”

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Cristiano Ronaldo Posts ‘Keep Pushing’ After Messi Quits Argentina, Offers No Direct Farewell Message

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RIYADH, Saudi Arabia — Cristiano Ronaldo’s first public post after Lionel Messi retired from Argentina was not a tribute. It was a gym photo from Al-Nassr training and two words: “Keep pushing.”

The Portuguese forward did not name Messi, did not mention the World Cup and did not join the wave of farewell notes that followed the Argentine’s Instagram letter on Aug. 31. The timing was enough. For two decades, almost anything one man did was read against the other. A training caption became, in fan debates, a statement of intent.

There is no evidence Ronaldo was answering Messi. Interpreting the post as a reply is speculation. What is documented is narrower: Messi closed a 21-year international career. Ronaldo, still attached to Portugal and still training in Saudi Arabia, posted work.

What Messi said

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Messi, 39, announced the decision on Instagram, posting notes he said he wrote on July 21, two days after Argentina lost the World Cup final to Spain after extra time. He delayed publishing the letter while his father, Jorge Messi, was ill. Jorge died on Aug. 7 at 68.

“It was a decision that hurt — and still hurts deep down — but I understand that the time has come,” Messi wrote.

He finished with 125 goals in 207 appearances, Argentina’s record scorer and most-capped player, a 2022 World Cup winner, a 2026 World Cup runner-up and a two-time Copa América champion in 2021 and 2024. He played in six World Cups.

“I swear to you that I always gave it my all — not just in these last few years when we won everything, but before that too,” he wrote. “I always fought and left everything on the field for this jersey, to bring you joy and make you feel proud to be Argentine through football.”

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“Time is running short, chapters come to a close, and this is one that hurts me deeply. I love, have loved, and will always love being part of the national team. I’ve given everything I had; I have nothing left to give, and besides, there are some great young players coming up who deserve to be here.”

He thanked supporters for 20 years and said he would now cheer “from the outside.” He closed: “Thank you, God, for making me Argentine. Vamos Argentina!” A note at the end added: “I wrote these words on July 21st, two days after the final. Today, after what happened with my dad, I am even more convinced than before.”

He will continue at club level with Inter Miami. Days before the announcement he scored four goals in a 7-1 win over CF Montreal.

Argentina Football Association president Claudio Tapia called him “the captain of our dreams” and asked that he “be eternal.” There is no current plan for Messi to return as a working international.

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What Ronaldo actually posted

Ronaldo, 41, shared images of gym work and a session on the grass at Al-Nassr. The caption was “Keep pushing.” He did not tag Messi. He did not quote the retirement letter.

That absence produced a vacuum, and the vacuum filled with forgeries. A circulating screenshot claimed Ronaldo had written that “the rivalry was real… but so was the respect,” that Messi had inspired him, and “Rest now, brother.” Fact-checks of Ronaldo’s official accounts found no such post. The tribute was fabricated.

The real record of Ronaldo addressing Messi this summer is older and personal. After Jorge Messi’s death, Ronaldo commented on Messi’s tribute: “A huge hug to you and yours in these tough times, Leo. Much strength.” That message was public, named Leo and concerned grief, not international retirement.

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The contrast is useful. When Ronaldo wanted to speak to Messi, he did. When Messi left the national team, Ronaldo talked about training.

In mid-August, Ronaldo told Vogue, “This is probably my last year of football, and I want to leave a spectacular legacy.” He has not said he is leaving Portugal. He remains the country’s captain and men’s international soccer’s leading scorer, with 146 goals, ahead of Messi’s 125.

Two careers, two clocks

The Messi-Ronaldo argument defined a generation: Barcelona against Real Madrid, Ballon d’Or nights, Champions League semifinals, then a split to Paris Saint-Germain, Inter Miami, Juventus, Manchester United’s return and Al-Nassr. They are no longer weekly opponents in Europe. They are still the measuring stick.

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Messi’s international story is now complete. It includes a 2005 debut, a 2016 Copa América final resignation that he later reversed, years of criticism in Argentina, then the delayed harvest: Copa América in 2021, the World Cup in Qatar, another Copa in 2024, and a last World Cup that ended one extra-time goal short. He said young players “deserve to be here.” Argentina must replace a No. 10 who was also a national symbol.

Ronaldo’s international story is not closed. Portugal has a younger core. The question around him is duration, not absence. He is still scoring in the Saudi Pro League and still presenting himself as a player in work mode. “Keep pushing” is the language he has used for years about extra sessions, diet and recovery. Applied to this week, it reads as a refusal to treat Messi’s exit as a cue for his own.

That is why a two-word caption traveled. Fans who wanted a handshake in public did not get one. Fans who wanted a claim that the race continues heard one, whether Ronaldo intended it or not.

What the silence does not mean

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Silence is not hostility. Ronaldo’s August comment on Messi’s father undercuts any claim that he would not address the Argentine by name. Nor is the gym post a policy statement from the Portugal federation. It is a club athlete posting from camp.

Soccer’s farewell economy rewards the grand gesture. Teammates, coaches and presidents wrote essays. Ronaldo posted sweat. In a rivalry that was always part sport and part content, the missing tribute became content anyway.

The facts that will last are simpler. Messi retired from Argentina after 207 games and a World Cup. He said the decision hurt and that he had nothing left to give the shirt. Ronaldo, still playing, posted “Keep pushing” and did not mention him. Anything beyond that is fan fiction, including the fake letter that borrowed Ronaldo’s name.

Their club paths still run. Messi is in Major League Soccer. Ronaldo is in Riyadh. One international career has an end date. The other does not, yet. The photograph from Al-Nassr does not change the medal table. It only showed, again, that the two men no longer have to speak for the comparison to start.

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HUDCO shares jump 4% after signing Rs 25,000 crore MoU with Bihar government for infrastructure development

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HUDCO shares jump 4% after signing Rs 25,000 crore MoU with Bihar government for infrastructure development
Shares of Housing and Urban Development Corporation (HUDCO) jumped nearly 4% on Thursday to a day’s high of Rs 184.69 on the NSE after the company signed a Memorandum of Understanding (MoU) with the Government of Bihar to provide financial assistance of up to Rs 25,000 crore.

According to an exchange filing on Wednesday, the company said the MoU is aimed at providing financial assistance over a period of five years for the development of industrial infrastructure, including land acquisition for projects.

Also Read | Persistent Systems shares fall over 3% as board gives nod for $1.25 billion fundraise. Check details

Under the MoU, the Government of Bihar is undertaking the development of industrial park projects across different districts of the state, for which it requires timely availability of land.

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The Infrastructure Development Authority, Bihar (IDA), has been entrusted by the Government of Bihar with facilitating and/or implementing identified infrastructure development initiatives, including the development of industrial parks in the state. To fulfil these responsibilities, it may be required to undertake the acquisition, purchase, consolidation or development of land, as well as the development of enabling infrastructure for industrial park projects.


The MoU is aimed at facilitating HUDCO in the planning, development and financing of the proposed industrial parks in Bihar in a time-bound manner, in accordance with the rules and regulations of the state government.
The loan shall be availed in tranches by the statutory authority specifically designated by the state government. HUDCO shall provide funds on flexible terms and conditions, including a moratorium period and a flexible repayment schedule of up to 25 years, with an option for prepayment.The loan to HUDCO shall be repaid by escrowing revenue generated from the projects or by ring-fencing other sources of revenue from identified receivables or the state budget.

The MoU shall remain valid for three years from the date of execution, subject to annual review.

In July 2026, HUDCO signed another MoU with the Government of Bihar, aimed at providing term loans of up to Rs 1 lakh crore over a period of five years for various urban infrastructure projects, including land acquisition.

The MoU was aimed at facilitating HUDCO in the planning, development and financing of the proposed Greenfield Satellite Cities in Bihar in a time-bound manner, in accordance with the rules and regulations of the state government.

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Also Read | Power Grid shares gain 1.5% after firm wins Rs 3,244 crore inter-state transmission system project. Should you buy?

Under this MoU, HUDCO shall provide funds on flexible terms and conditions, including a moratorium period and a flexible repayment schedule of up to 25 years, with an option for prepayment.

So far in 2026, the stock has declined 19.68% and is down nearly 15.54% over the last one year. The stock has gained 139% over the last three years and 321% over the last five years.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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Heathrow expansion ‘a risk we cannot afford to take’, says mayor

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A commercial aeroplane flying low on final approach to land at Heathrow Airport, passing directly over an overhead highway road sign.

A spokesperson for the airport rejected claims that expansion was incompatible with net zero goals – and said the airport was committed to a completely privately-funded noise insulation scheme for local homes.

On transport infrastructure, Heathrow stated its expansion plans include widening a busy stretch of the M25, adding that it will present “viable and funded solutions” for required public transport upgrades as part of the planning process.

“This is about much more than a new runway.

“It’s about unlocking growth and over 100,000 jobs for the whole country, boosting British trade by £150bn, making travel more affordable and revitalising the UK’s steel industry.”

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The mayor’s stance is backed by a coalition of London and home counties council leaders – including Wandsworth, Richmond, Kingston, Hillingdon, Southwark, Sutton, and Windsor and Maidenhead.

In a joint letter to Transport Secretary Heidi Alexander following the consultation’s close, the cross-party group called on the government to withdraw support for the third runway.

However, the Back Heathrow campaign pushed back against the councils, claiming their opposition was “not representative” of local residents.

Executive director Parmjit Dhanda said more than 100,000 local members support the expansion, citing the potential for jobs, trade, and economic growth, adding that a new runway was “way overdue”.

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The Department for Transport, which threw its support behind expansion under Keir Starmer’s premiership in 2025, said ministers would “carefully consider all responses before setting out next steps later this year”.

“We have always been clear that expansion will only go ahead if it is delivered in line with our legally binding climate change obligations, and meets strict environmental rules on air quality and noise pollution,” a spokesperson for the department added.

Analysis: Tom Edwards, BBC London transport correspondent

The position of the mayor and TfL against expansion at Heathrow hasn’t changed -they have always had concerns over noise pollution, public transport and extra traffic.

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What is different this time is they think the modelling is outdated, and the language seems to have toughened.

Perhaps Ulez has empowered the mayor to be more direct?

TfL said since the pandemic, the world had changed with a decline in business travel. They also said the figures being used to back expansion are over ten years old and no longer relevant.

It leaves the mayor potentially on a collision course with the pro-expansion lobby – including those within his own party.

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How much should you give towards a leaving gift?

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Two women stand in the street. One wears a white top, the other wears black and white.

We ask workers in London how much they’d contribute.

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Snowflake leaps 23% on earnings beat and raised guidance

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Snowflake leaps 23% on earnings beat and raised guidance

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Voltalia shares sink 16% after 2026 capacity target cut overshadows Q2 growth

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Voltalia shares sink 16% after 2026 capacity target cut overshadows Q2 growth

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At Close of Business podcast September 3 2026

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At Close of Business podcast September 3 2026

Ella Loneragan and Claire Tyrrell discuss industry’s calls for more expertise philanthropy.

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PrivateInvest chased for $17.2m over Burswood apartment

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PrivateInvest chased for $17.2m over Burswood apartment

PrivateInvest Capital Securities Limited and director Mark Roberts are being chased for $17.2 million by Finito Nominees Pty Ltd over the development of an apartment complex in Burswood.

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John Hancock Disciplined Value International Fund Q2 2026 Commentary (JDVIX)

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John Hancock Disciplined Value International Fund Q2 2026 Commentary (JDVIX)

Dollar sign on economic background

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Highlights

The MSCI EAFE Index—the fund’s benchmark—gained ground in the second quarter.

While the fund registered a positive total return, it underperformed the index.

Stock selection contributed to relative performance, while sector allocations detracted.

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Deutsche Telekom shares climb as Elliott targets T-Mobile merger plans

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Deutsche Telekom shares climb as Elliott targets T-Mobile merger plans

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