Financial News: How Budget Tax Measures Will Affect The Banks
23rd Jun 2010 14:37
By Dominic Elliott Of FINANCIAL NEWS Measures announced as part of the U.K.'s emergency Budget will provide a fillip to Lloyds Banking Group's (LYG) business by the year 2012 and will hit earnings at the country's other four large universal banks by "just" GBP56 million on average--or less t
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:49
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes
Read moreMARKET TALK: UK Banks To Pay GBP1.1B In 2011 In New Tax
23rd Jun 2010 07:49
0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes imposed by the U.K. government, JP Morgan estimates. Adds this is 4% and 5% of group earnings for those years, respectively. Says the levy is "less punitive" than expected, wi
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:21
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relie
Read moreMARKET TALK: Lloyds Banking Seen Benefiting From Budget
23rd Jun 2010 07:21
0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relief in the form of an unexpected cut in the corporate tax rate, says Citigroup. Lloyds Banking Group (LLOY.LN) is the clear winner in the budget. It estimates the net effects on
Read moreWednesday newspaper round-up: Budget, Asda, BP
23rd Jun 2010 06:35
Every household in Britain will be worse off after George Osborne unveiled £29bn worth of annual tax rises and the biggest cuts in public spending for almost a century. In an ambitious attempt to reduce the nation's borrowing, the Chancellor said everyone had to share the pain to repair "the ruins"
Read moreHEARD ON THE STREET: UK Levy Not Too Taxing For Banks
22nd Jun 2010 19:13
By Simon Nixon A DOW JONES COLUMN Following an election in which bank-bashing figured prominently, the U.K. banking sector can count itself lucky with the coalition government's emergency budget. Although Chancellor George Osborne is pushing ahead unilaterally with a bank levy, it is only ex
Read moreUK Banks Hit With New Tax, But Escape Harsher Measures
22nd Jun 2010 17:29
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks escaped new taxes on profits and remuneration, but a widely expected levy on their balance sheets that could provide an extra GBP2 billion a year to the government raised warnings from the sector, which said the U.K.
Read moreENI Prices EUR1B 2020 Bond At 99.83, Swaps +1.08
22nd Jun 2010 16:16
LONDON (Dow Jones)--Italian oil and gas company ENI SpA (ENI.MI) has priced its EUR1 billion, 2020-dated bond through joint lead-managers Banca IMI, Barclays PLC, BNP Paribas SA, ING Bank NV and UniCredit SpA, one of the banks said Tuesday. Terms are as follows: Amount: EUR1 billion M
Read moreMARKET TALK: UK Bank Levy Better Than Feared - Oriel
22nd Jun 2010 16:15
1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC)
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 16:15
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities a
Read moreUK Bank Shares Gain Ground After Bank Levy News
22nd Jun 2010 15:22
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. bank shares gained ground Tuesday after the government's widely expected levy on the sector proved to be lower than expected, although industry groups warned it could still make U.K. banks less competitive than their foreig
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS -2-
22nd Jun 2010 14:49
0639 GMT [Dow Jones] Bunds are higher Tuesday as China's forex move-fuelled risk rally fizzles out. Asian shares are trading lower and European equities are expected to follow suit. Attention will shift back to the troubles in the euro zone and its impact on the banking system, with Fitch Ratings Mo
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 14:49
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1349 GMT [Dow Jones] Banking and retail stocks recoup losses and gain following the UK Budget Report. Traders note the levy o
Read moreMARKET TALK: UK Bank, Retail Shrs Recoup Losses After Budget
22nd Jun 2010 14:49
1349 GMT [Dow Jones] Banking and retail stocks recoup losses and gain following the UK Budget Report. Traders note the levy on banks is less severe than had been expected. "The levy is set to raise as much as GBP2B [a year] when earlier estimations by the market were that it could be more aggressive
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