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- Watchdogs Closer to Backing Lloyds Plan
- By Douwe Miedema and Clara Ferreira-MarquesLONDON (Reuters UK) - Financial regulators are moving closer to approving a plan by Lloyds Banking Group to escape a costly government scheme for bad debts, three sources close to the situation said on Wednesday.A decision on the plan, which includes a more than 11...
- News items 2009-10-21
- Lloyds leads banks as FTSE rises
- Lloyds Banking Group has sold its loss-making Halifax estate agency business for just £1 to LSL Property Services. It is expected that 460 staff from the estate agency network will lose their jobs when the company is transferred to LSL, in the deal set to be completed next year. The...
- News items 2009-10-16
- Enterprise Inns drops on fears over rent and beer sales
- The FTSE 100 rallied for the first time in three days yesterday, but Enterprise Inns came under pressure amid trading and financing concerns. Britain's biggest pubs group lost 3.2 per cent to 157p after rent data led Goldman Sachs to add the stock to its "sell" list. "In light of...
- News items 2009-08-12
- Need to know: Unite joint venture ... SAS job cuts ... Swisscom profits rise ...
- View video and Need to Know interactive heatmap Economics Unemployment: Official data showed that nearly one million young people are out of work as unemployment hit a 14-year high. More than 700,00 18 to 24-year-olds and 206,000 16 to 17-year-olds are jobless. Inflation: Mervyn King, Governor of the Bank of...
- News items 2009-08-12
- Resolution in $3.1 Billion Friends Buy, Sees More Deals
- By Myles Neligan and Clara Ferreira-Marques LONDON (Reuters) - Britain's Resolution RSL, an acquisitions vehicle founded by entrepreneur Clive Cowdery, clinched its first deal on Tuesday with the 1.86 billion pound ($3.1 billion) takeover of insurer Friends Provident FP. Resolution, created last year to buy life insurers and asset managers,...
- News items 2009-08-11
- Resolution clinches 1.86 billion pound Friends deal
- By Myles Neligan and Clara Ferreira-Marques LONDON (Reuters) - Britain's Resolution (RSL.L), an acquisitions vehicle founded by entrepreneur Clive Cowdery, clinched its first deal on Tuesday with the 1.86 billion pound ($3.1 billion) takeover of insurer Friends Provident (FP.L). Resolution, created last year to buy life insurers and asset managers,...
- News items 2009-08-11
- BT lifted by its own broker
- BT Group was in demand yesterday after its joint house broker turned positive for the first time. JPMorgan upgraded BT to "overweight" based on hopes a turnround will allow the telecoms group to lift its dividend. "Broadband and cost cutting are taking centrestage from global IT growth, in our view...
- News items 2009-08-10
- RBS to Cut 3,700 UK Jobs
- By Clara Ferreira-MarquesLONDON (Reuters UK) - Royal Bank of Scotland said it would be forced to sell more assets than it had expected and axe 3,700 jobs from its retail business as another radical shake-up loomed for Britain's banks.European competition authorities are set to force RBS to sell its insurance...
- News items 2009-11-02
- Lloyds to Offer "Cocos" Bond Swap - Report
- LONDON (Reuters UK) - Lloyds Banking Group LLOY will attempt to raise 7.5 billion pounds capital by offering existing bond holders the chance to exchange their bonds for riskier but higher yielding investments that could convert into equity, the Financial Times said on Monday.As one element of the part-nationalised bank's...
- News items 2009-11-01
- Lloyds Tests Waters on Cash Call
- By Myles Neligan and Raji MenonLONDON (Reuters UK) - Lloyds Banking Group LLOY could launch one of the world's largest cash calls as early as next week after talking to shareholders on Friday to gauge their appetite for the fundraising.The part-nationalised lender approached its shareholders on Thursday, investor sources said,...
- News items 2009-10-30
- Centrica plans offshore wind project
- UK utility Centrica has received final approval to develop a 270MW wind farm off the coast of Skegness, Lincolnshire. The project is expected to cost GBP725m (USD1.2bn) and will comprise 75 wind turbines supplied by Siemens Energy. Construction will begin next year and is schedule for completion in 2012....
- Articles 2009-10-28
- Miners, Banks Push FTSE to Close Higher
- By Tricia WrightLONDON (Reuters UK) - Britain's top share index shrugged off a shock fall in UK GDP to close higher on Friday, buoyed by miners and banking stocks, and supported by robust earnings and economic news from the U.S.The FTSE 100 closed up 35.21 points, or 0.7 percent at...
- News items 2009-10-23
- Regulators Near Verdict on Lloyds
- By Victoria Howley and Douwe MiedemaLONDON (Reuters UK) - Lloyds Banking Group LLOY faces a crunch week over its plans to plug a 20 billion pound hole in its capital before Christmas, with a key decision resting with UK regulators.Britain's largest retail bank, 43-percent owned by the government, hopes regulators...
- News items 2009-10-23
- FTSE Falls 1 Percent on Banks, Commods
- By Paul SandleLONDON (Reuters UK) - The top share index closed 1 percent down on Thursday, coming off earlier lows, as weaker crude and metals weighed on energy stocks and miners.The FTSE 100 ended 50.49 points lower at 5,207.36, having come off earlier lows of 5,166.46 but struggling around...
- News items 2009-10-22
- Weak Commods, Banks Pull FTSE Down
- By Tricia WrightLONDON (Reuters UK) - The top share index shed 1 percent by midday on Thursday, suffering a broad-based sell-off after disappointing earnings news from the U.S., with energy stocks the biggest laggards as crude fell.By 12:14 p.m., the FTSE 100 was down 51.74 points to 5,206.11, having...
- News items 2009-10-22
- RBS and Lloyds Banking Group to sell brands
- RBS has agreed to dispose of 318 branches over the coming four years, while Lloyds Banking Group will sell 600 branches. As part of the divestment programme, RBS will sell its RBS branches in England, NatWest branches in Scotland and its insurance portfolio, which includes brands such as Direct Line,...
- News items 2009-11-03
Additional Resources
- Lloyds Banking Group Just May Be Able to Exit Bank Bailout
- Research Recap submits: The prospect for Lloyds Banking Group LYG escaping the UK Goverment’s bank bailout scheme have gotten a boost from a new research report on the UK banking sector from Execution analyst Joseph Dickerson. The Independent reports that Dickerson issued a “buy” recommendation...
- External links 2009-09-24
- Lloyds Banking Group Still Expects a Loss
- Zacks.com submits: By: Ann Heffron, CFA Yesterday in its first quarter trading update, Lloyds Banking Group plc LYG announced that it still expects to post a loss for full-year 2009 excluding an accounting gain from negative goodwill on the back of rising loan impairment charges due to continued...
- External links 2009-05-08
- U.K. government to own 43% of combined Lloyds TSB-HBOS
- The British government will acquire a 43.4 percent stake in the bank to be formed from the merger of Lloyds TSB and HBOS after investors abstained from buying new shares issued by the two banks. Existing shareholders bought just 0.5 percent of the new Lloyds shares offered in its rights issue,...
- News items 2009-08-07
- Lloyds Looks to Raise £20 Billion
- By Myles Neligan and Douwe MiedemaLONDON (Reuters UK) - Lloyds Banking Group LLOY inched closer to plugging a capital gap of more than 20 billion pounds, boosting the bank's shares on prospects a deal could happen before the year end.The country's biggest retail bank said on Thursday it was looking...
- News items 2009-10-29
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