Barclays threatened with strike over pensions
17th Jul 2009 11:57
Barclays' staff are so angry at the bank's decision to close its final salary pension scheme they're preparing to vote on possible strike action. The Unite union will hold a ballot in August, with any strike action likely to take place the following month. Ninety-two percent of employees told the
Read moreBarclays names Broadbent Dep Chairman
16th Jul 2009 08:16
Shares in Barclays were up 0.7% after it confirmed the appointment of Sir Richard Broadbent as deputy chairman with immediate effect. Broadbent, who has been a non-executive director since 2003 and Senior Independent Director since 2004, succeeds Sir Nigel Rudd, who retired as deputy chairman in A
Read moreCommission consults on PPI reform despite Barclays appeal
8th Jul 2009 07:31
The Competition Commission has published a consultation document on its planned measures to crack down on Personal Protection Insurance (PPI) selling despite an appeal from Barclays still waiting to be heard. The Commission announced its draft proposals in January. Barclays appeal against them wil
Read moreTuesday newspaper round-up: Key plank of bank reform may be delayed
7th Jul 2009 06:16
The centrepiece of the Government's plan to overhaul financial regulation has been delayed, perhaps until after the election, it has emerged, the Telegraph writes. The long-awaited White Paper on financial regulation, due to be published on Wednesday, will offer no firm proposals on how authorities
Read moreMonday newspaper round-up: Royal Mail, Marks & Spencer, BAA
6th Jul 2009 06:18
The chairman of Royal Mail's pension trustees is considering plans to close its retirement scheme to existing members after legislation to part-privatise the postal service was shelved last week. It is understood that Jane Newell is mulling over whether the best option for postal workers is to clos
Read moreLondon close: Stocks tread water
3rd Jul 2009 17:12
A late swoon saw Footsie relinquish virtually all of its gains, with losses on resource stocks counter-balancing gains made by banks. Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking were the pick of the banking sector, despite chancellor Alistair Darling firing a warning about the re-eme
Read moreLondon afternoon: Banks lead the fight back
3rd Jul 2009 14:30
Share prices are creeping higher after yesterday's heavy falls, with banking stocks leading the fight back. Barclays, HSBA and Lloyds Banking lead the banking sector higher while insurers such as Aviva and Legal & General are also wanted. An exception to the general strength of insurers is Friends
Read moreLondon close: US economic data hits Footsie
30th Jun 2009 16:26
It looked like another flat day for the FTSE 100 heading into the second half of the year until shares took a sharp dive following some unappetizing economic date in the US. The US Conference Board's index of consumer sentiment fell to 49.3 in June, down from a revised 54.8 in May. Economists had b
Read moreLondon afternoon: Prices drift lower
30th Jun 2009 15:24
London continues to sleepwalk to the end of the month, with prices drifting lower in light trading after Wall Street opened in negative territory. With the oil futures contract edging steadily higher, heavy fuel users such as airline British Airways and cruise operator Carnival are on the slide. I
Read moreBroker tips: Barclays, Yell, HMV
30th Jun 2009 12:26
Following hot on the heels of Goldman Sachs's broadly optimistic review of the UK banking sector yesterday, Deutsche Bank has cast a favourable eye on British banking giant Barclays. Deutsche sees further opportunity for share price growth driven by earnings. "We expect adjusted earnings of 27p in
Read moreLondon midday: Marking time
30th Jun 2009 12:10
Leading equities are treading water on the last day of the month, quarter and half-year. Wolseley is one of the best performers after chief executive Chip Hornsby stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves after 27 years
Read moreBroker snap: De-risked Barclays now cheap
30th Jun 2009 11:00
Following hot on the heels of Goldman Sachs's broadly optimistic review of the UK banking sector yesterday, Deutsche Bank has cast a favourable eye on British banking giant Barclays. "The rally in Barclays' stock is significant and right, in our view, considering the equity market's revised view of
Read moreLondon close: Late gains lift Footsie
29th Jun 2009 16:50
After a rather sluggish start to the day, Footsie ended with chunky gains, helped by buoyancy on Wall Street. Lloyds Banking topped the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "conviction buy" list. Goldman Sachs has also lif
Read moreLondon afternoon: Financials spearhead the advance
29th Jun 2009 14:21
Banks and insurers lead the way as London continues its steady advance. Lloyds Banking tops the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "Conviction Buy" list. Goldman Sachs has also lifted its target price from 61p to 107p, af
Read moreBroker tips: Lloyds, Admiral, National Express
29th Jun 2009 12:53
US bank Goldman Sachs has added part-nationalised British bank Lloyds Banking Group to its conviction buy list, claiming Lloyds shares represent the cheapest option among the major large-cap European banks. Goldman Sachs has upgraded Lloyds from "neutral" to "buy", going against the trend of most i
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