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- UK Bank Bailout Has Strings Attached
- UK Prime Minister Gordon Brown's government will make £500bn available through a series of measures designed to salvage the fortunes of struggling commercial lenders. These include Debt issued by banks will be guaranteed up to £250bn Up to £200bn from the Bank of...
- Blog posts 2008-10-08
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
- Will the Second Bank Bailout Help Business?
- "This is a momentous day -- but extraordinary times demand extraordinary policy solutions." Richard Lambert, director general of the CBI, may be right, but businesses are wondering whether the government's intervention on behalf of the banks will improve credit availability. ...
- Blog posts 2009-01-19
- Bank of America Posts $1 Billion Loss
- By Joe Rauch and Elinor ComlayCHARLOTTE, N.C./NEW YORK (Reuters UK) - Bank of America BAC posted a $1 billion (611.2 million pound) quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.The nation's largest bank received two taxpayer bailouts...
- News items 2009-10-16
- UK Offers Bailout Funds to HSBC, Seven Other Banks
- UK Prime Minister Gordon Brown’s government will make £400bn available through a series of measures designed to salvage the fortunes of struggling commercial lenders. These include: Debt issued by banks will be guaranteed up to £250bn Up to £200bn from the Bank of...
- Blog posts 2008-10-08
- UK Joins G20 Push For Bank Levy
- By Sumeet Desai and Huw JonesST ANDREWS, Scotland (Reuters UK) - Britain threw its weight on Saturday behind proposals to impose a global levy on banks to fund future bailouts but failed to make much progress on securing a G20 deal to meet the cost of climate change.Finance ministers and...
- News items 2009-11-08
- UK Joins G20 Push For World Levy on Banks
- By Sumeet Desai and Huw JonesST ANDREWS, Scotland (Reuters UK) - Britain threw its weight on Saturday behind proposals to impose a global levy on banks to fund future bailouts but failed to make much progress on securing a G20 deal to meet the cost of climate change.Finance ministers and...
- News items 2009-11-07
- Update: Lloyds Bank to Test the Waters for Rights Issue
- Research Recap submits: Looks like Lloyds Banking Group’s LYG will get a shot at buying its way out of the UK Government’s bank bailout scheme, with a significant assist from the government itself. As reported previously on Research Recap, the chances of the bank being able...
- External links 2009-10-30
- Lloyds Bank May Look to Taxpayers to Help Fund Rights Issue
- Research Recap submits: Lloyds Banking Group reportedly has presented the Financial Services Authority with a plan to raise a total of £25 billion through a rights issue, asset disposals, and other measures. Lloyds Banking Group’s LYG efforts to avoid paying more than £15 billion to participate...
- External links 2009-10-08
- BofA Posts $1 Billion Loss
- By Joe Rauch and Elinor ComlayCHARLOTTE, N.C./NEW YORK (Reuters UK) - Bank of America BAC posted a $1 billion (611.2 million pound) quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.The nation's largest bank received two taxpayer bailouts...
- News items 2009-10-16
- UK government to hold 43.4 percent of Lloyds-HBOS bank
- LONDON (Reuters) - The British state is to take a 43.4 percent stake in the combined Lloyds TSB-HBOS bank after shareholders largely shunned both lenders' rights issues, the two banks said on Monday. Existing shareholders bought just 0.5 percent of the new Lloyds shares offered in its rights issue, and...
- News items 2009-08-07
- Bank Shares Jolted as EU Verdicts Near
- By Victoria HowleyLONDON (Reuters UK) - Europe's regulators held sway over the region's banks on Wednesday, approving a UK government plan to break up mortgage lender Northern Rock just as shares in Irish banks crashed on fears of tough sanctions.Shares in Lloyds fell on fears that this week's break-up of...
- News items 2009-10-28
- FTSE Slips as Bank Gains Offset
- By Simon FalushLONDON (Reuters UK) - Weakness in energy stocks, pulled lower by downbeat results from Royal Dutch Shell, offset gains from banks and miners leaving the FTSE 100 off 0.3 percent by midsession Thursday.Investors were cautious ahead of U.S. GDP data, which will be closely eyed for clues on...
- News items 2009-10-29
- Fresh Private Bank M&A Adds to Sector Shakeup
- By Ben BerkowitzAMSTERDAM (Reuters) - Consolidation in the private banking industry picked up pace on Thursday, creating fresh players in the Asian and British wealth management sectors and reshaping how the rich manage their money around the world.Dutch bank ING, under pressure from the European Union to divest assets after...
- News items 2009-10-15
- EU regulators launch in-depth probe of Northern Rock bailout
- BRUSSELS AFP — The European Commission said Wednesday it had launched an in-depth state-aid investigation into British authorities' bailout of the recently nationalised British bank Northern Rock. "The commission needs to open a formal investigation into UK measures to restructure Northern Rock to ensure legal certainty," EU Competition Commissioner...
- Research articles 2008-04-02
- Foreign Banks in UK Sign Up to Pay Rules
- By Matt Falloon and Steve SlaterLONDON (Reuters UK) - Major foreign investment banks operating in London have agreed to obey G20 and Financial Services Authority rules on remuneration, starting with payments for performance this year, the Treasury said on Wednesday.Morgan Stanley, Bank of America, UBS, Credit Suisse, Citigroup, Goldman Sachs...
- News items 2009-10-14
- OCBC Buying ING Asia Private Bank
- By Clare Jim and Saeed AzharHONG KONG/SINGAPORE (Reuters UK) - Singapore's third-biggest bank, OCBC OCBC, announced its arrival as a serious wealth player on Thursday after clinching a surprise deal to buy Dutch-based ING's ING private banking unit in Asia for $1.5 billion (925 million pounds).Oversea-Chinese Banking Corp beat HSBC...
- News items 2009-10-15
- Bank Shares Jolted as EU Verdicts Near
- By Victoria HowleyLONDON (Reuters UK) - Europe's regulators held sway over the region's banks on Wednesday, approving a government plan to break up mortgage lender Northern Rock just as shares in Irish banks crashed on fears of tough sanctions.Shares in Lloyds LLOY fell on fears that this week's break-up of...
- News items 2009-10-28
- DBS Bails on ING Bank - Source
- By Saeed AzharSINGAPORE (Reuters UK) - DBS Group DBSM, Southeast Asia's biggest lender, has pulled out of the race to buy ING's ING private banking unit in Asia, as it did not want to pay a premium for the business, a source with knowledge of the deal told Reuters.This leaves...
- News items 2009-10-13
- FSA Warns on Bank Bonuses
- By Steve Slater and Clara Ferreira-MarquesLONDON (Reuters UK) - Banks should consider their wider responsibility to society and "soft" government guarantees that have helped to support them before setting this year's bonus payouts, the financial regulator said on Monday.As bonuses for bankers look set to jump in 2009, the comments...
- News items 2009-10-19
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