Europe midday: Losses accelerate as investors fret over epidemic's path
30th Jul 2020 10:44
(Sharecast News) - Losses in stockmarkets across Europe accelerated as investors digested data showing that German gross domestic product fell at its quickest pace on record since at least 1970.
Read moreLloyds debt provision up £2.4bn as profits plunge on grim outlook
30th Jul 2020 07:00
(Sharecast News) - Lloyds Bank set aside a further £2.4bn for bad debts in the second quarter as it swung to a heavy first-half loss and braced for a "significant deterioration" in the economic outlook amid the coronavirus pandemic.
Read moreHorta-Osorio to leave Lloyds as Budenberg appointed chairman
6th Jul 2020 07:15
(Sharecast News) - Lloyds Banking Group said Chief Executive Antonio Horta-Osorio planned to leave the bank in a year's time as it announced that Robin Budenberg would take over as chairman in early 2021.
Read moreSunday newspaper round-up: Vouchers, Grocers, Boohoo
5th Jul 2020 15:59
(Sharecast News) - Radical plans to give all adults £500 and children £250 in vouchers to spend in sectors of the economy worst hit by the Covid-19 crisis are being considered by the Treasury. The proposals, drawn up by the Resolution Foundation think tank, which has had recent talks with the Treasury about its ideas, are aimed at kickstarting economic recovery by triggering a highly targeted surge in spending. Under the plans the vouchers could only be spent in certain sectors, such as hospitality and "face to face" retail, as opposed to online. - Guardian
Read moreUK banks escape probe into overdraft rises during Covid-19
1st Jul 2020 08:38
(Sharecast News) - UK banks were put on notice over overdraft pricing during the coronavirus crisis by the industry regulator on Wednesday, but escaped the threat of a full probe.
Read moreJefferies cuts target for Lloyds, says income profile ill-suited for current market
25th Jun 2020 08:14
(Sharecast News) - Analysts at Jefferies cut their target price for shares of Lloyds from 47.0p to 42.0p, arguing that its revenue profile was ill-suited to current market conditions - but kept their recommendation at a 'buy'.
Read moreLloyds Banking Group fined £64m by FCA
11th Jun 2020 12:36
(Sharecast News) - The City watchdog has fined Lloyds Banking Group more than £64m after the lender failed to properly manage customers who were struggling with mortgage payments.
Read moreBoE's Bailey warns bank chiefs on Brexit - report
3rd Jun 2020 15:01
(Sharecast News) - The Governor of the Bank of England has told bank bosses to step up preparations for the UK failing to agree a trade deal with the EU, according to a report.
Read moreBanks say up to half of 'bounce back' loans could default - report
1st Jun 2020 09:44
(Sharecast News) - UK banks have warned that up to half the £18.5bn "bounce back" loans they make to small businesses during the Covid-19 crisis are unlikely to be repaid, according to a report.
Read moreLenders grant 1.5m payment breaks on cards and loans
29th May 2020 13:04
(Sharecast News) - UK lenders have given almost 1.5m payment holidays to card and personal loan borrowers in financial difficulties during the Covid-19 crisis, industry figures showed.
Read moreSunday newspaper round-up: Hong Kong, Air bridges, Vaccine
24th May 2020 13:16
(Sharecast News) - Hong Kong democracy activists yesterday made frantic plans to cover their tracks amid fears of a brutal crackdown by the world's most powerful surveillance state. Many deleted politically sensitive online postings, wiped social media accounts and turned to proxy servers that mask their identities after China announced sweeping national security laws for the territory. - Sunday Times
Read moreLloyds bosses warn of financial cost from supporting customers
21st May 2020 14:01
(Sharecast News) - Lloyds Banking Group's bosses told shareholders that supporting customers during the coronavirus crisis would have a financial impact on the bank's results.
Read moreGerman court says some aspects of ECB bond buying programme are 'constitutional'
5th May 2020 10:04
(Sharecast News) - Germany's top Constitutional Court called into question the "proportionality" of the European Central Bank's main bond purchase programme, but did not call into question the basic outline of the monetary authority's strategy.
Read moreLargest UK companies expect sales drop of over 20% due to coronavirus
4th May 2020 10:27
(Sharecast News) - The UK's largest companies expect the coronavirus to reduce their sales by over a fifth in 2020 according to a survey published on Monday by Deloitte.
Read moreSunday newspaper round-up: BT Group, Sports Direct, Ocado
3rd May 2020 21:44
(Sharecast News) - The City is braced for a cut to BT's £1.5bn dividend - a move that would send pain through its army of retail shareholders after a wave of blue-chips slashed payouts amid the Covid-19 crisis. The board meets this week to decide whether to keep the dividend, one of the 20 biggest in the FTSE 100 index. More than 40 leading companies have cancelled £16.5bn of payouts this year, according to the broker Peel Hunt, including all the banks. Shell stunned the market by cutting its dividend by two-thirds on Thursday. - Sunday Times
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