Lloyds reshuffles wholesale banking management team
19th Jul 2011 11:14
Lloyds Banking Group is aggregating the wholesale markets, treasury and trading, transaction banking and corporate banking business lines as part of its recently announced strategic review. Lloyds has added new members to the management team and said the aggregation will allow the bank to simplify
Read moreLondon pre-open: Hesitant rally expected
19th Jul 2011 07:46
Stocks look set to claw back a small proportion of recent losses after yesterday's shake-out, with City traders suggesting the blue-chip index will open around 20 points higher at 5,773. London-based pub group Capital Pub Company has fallen into the arms of rival pub group Greene King, which has ag
Read moreRBS high-flyer to defect to Lloyds
19th Jul 2011 07:23
Nathan Bostock, seen as a potential successor to chief executive of Stephen Hester at Royal Bank of Scotland (RBS), is to jump ship to fellow part-nationalised lender Lloyds Banking. Bostock will be leaving his job as Head of Restructuring & Risk at RBS to take up a new role as chief executive offi
Read moreFTSE 100 movers: Stress tests provide concern for banks
18th Jul 2011 13:55
The banks were the heavy fallers on Monday, as the results of Friday's stress tests on the Europe's banks were seen as too soft. Markets across the continent were disappointed with the tests, with reports from Bloomberg saying that European banks may need to raise up to €80bn of extra capital after
Read moreLondon open: Stocks stressed after banking tests
18th Jul 2011 08:20
Stocks have taken a bit of a tumble after the release of the results from banking stress tests after the close on Friday. Eight European banks failed stress tests drawn up by the European Banking Authority (EBA). Five Spanish banks - Catalunya Caixa, Pastor, Unnim, Caja3 and CAM - and two from Gree
Read moreSunday papers round-up: Stress tests, News Corp, care homes ...
17th Jul 2011 11:36
The European Banking Authority (EBA) has attempted to quell City complaints over Friday's widely-criticised industry stress tests, telling analysts they would have liked to have made them harsher but were unable to do so. The Sunday Telegraph reports that the EBA admitted that figures given by the b
Read moreBroker tips: BSkyB, Burberry, Lloyds
14th Jul 2011 13:17
In a statement of the blindingly obvious, Panmure Gordon says that the probability of a successful takeover by Rupert Murdoch's News Corporation of the satellite broadcaster BSkyB has been reduced to zero. Panmure, which previously thought there was a 10% chance of the deal going ahead, places its
Read moreBroker snap: Goldman a buyer of Lloyds
14th Jul 2011 09:13
The analysts at Goldman Sachs have upgraded their recommendation for part-nationalised lender Lloyds from 'neutral' to 'buy' due to a more attractive risk-return trad-eoff following the recent decline in stock price. Goldman's analysts also point out three possible bullish catalysts for the medium-
Read moreThursday newspaper round-up: Banks, Bernanke, BSkyB
14th Jul 2011 06:27
Britain's banks have lined up to oppose reforms proposed by the Government's Independent Commission on Banking (ICB). In submissions to the ICB, the "big four" banks - Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group - raised objections or tried to buy time on the ICB's proposals. The
Read moreLloyds pushes ahead with the sale of 632 branches
12th Jul 2011 13:51
The deadline for the sale of 632 Lloyds retail branches passed on Monday, with the part-nationalised lender receiving indicative bids from parties including Virgin Money and NBNK Investments, according to reports from Dow Jones Newswires. António Horta-Osório, the chief executive of Lloyds, set the
Read moreLondon close: BSkyB, financials provide a drag
11th Jul 2011 16:37
The Footsie dropped over 1% lower on Monday as satellite broadcaster British Sky Broadcasting (BSkyB) and European debt-contagion fears weighed on sentiment. Shares of BSkyB took a tumble as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was pre
Read moreFTSE 100 movers: BSkyB leads fallers, Int'l Power rises
11th Jul 2011 15:11
Shares of BSkyB dropped by6% and was the top loser on the blue chip index on Monday as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was preparing to ask telecoms regulator Ofcom for additional advice. The Australian government's proposal on cl
Read moreLondon midday: Takeover concerns continue to hit BSkyB
11th Jul 2011 12:24
After briefly touching the 6,000 level, the Footsie slumped 30 points lower on Monday morning, with satellite broadcaster British Sky Broadcasting Group (BSkyB) providing a drag. Shares of BSkyB dropped more than 6% and was the top loser on the blue chip index at lunchtime as the potential takeover
Read moreLondon close: BSkyB leads slide after US jobs disappointment
8th Jul 2011 16:49
Stocks finished firmly in the red after disappointing jobs data from the US, with satellite broadcaster BSkyB leading the slide as the fallout from the News of the World phone hacking scandal continues. Newspaper group News Corporation, which hopes to take over the 60% of BSkyB it doesn't already o
Read moreLondon midday: BSkyB drags FTSE 100 lower
8th Jul 2011 12:07
The top share index is oscillating between gains and losses, with satellite broadcaster BSkyB the heaviest faller after the fallout from the turmoil at its suitor News International. News Corporation, which hopes to take over the 60% of BSkyB it doesn't already own, last night dramatically announc
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