UPDATE: Lloyds Banking Sells Private Equity Portfolio
5th Jul 2010 08:19
(Adds detail.) By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said it will receive GBP332 million by selling a portfolio of private equity investments to a new joint venture in which it will keep a minority stake, as part of the 41%-sta
Read moreLondon pre-open: Footsie targets tiny gain
5th Jul 2010 07:37
It's looking like a quiet and nervy start for London as US stocks struck a new low for 2010 in very late trade Friday. Any moves will be locally-led in the absence of Wall Street, closed for Independence Day. Futures prices indicate a 4-point gain in early trade. The Dow Jones closed down 46 on Fri
Read moreLloyds Banking To Get GBP332M Cash In Private Equity Venture
5th Jul 2010 07:32
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said it will receive GBP332 million by selling a portfolio of private equity investments to a new joint venture in which it will keep a minority stake, as part of the 41%-state owned bank's pla
Read moreLloyds Banking Group Sells Bank Of Scotland Integrated Finance
5th Jul 2010 07:14
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), a financial services group, said Monday it is selling a portfolio of 40 private equity investments in its Bank of Scotland Integrated Finance business to a new joint venture called Cavendish Square Partners LP. MAIN FACTS: -The new join
Read moreLloyds raises £332m through sale
5th Jul 2010 07:06
Part-nationalised lender Lloyds Banking Group is offloading a portfolio of 40 private equity investments in its Bank of Scotland Integrated Finance (BoSIF) unit to a newly formed joint venture. The new joint venture, called Cavendish Square Partners LP, will be majority owned by private equity inve
Read moreLloyds Bank Pressed To Sell Scottish Widows - Newspaper
4th Jul 2010 11:27
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), 40%-owned by the U.K. government, is under pressure from shareholders to sell its Scottish Widows insurance business, which could raise about GBP7 billion, The Observer newspaper reports Sunday, citing some unidentified shareholders. Invest
Read morePRESS RELEASE: Moody's Downgrades The Class A -2-
2nd Jul 2010 15:31
for defaulted loans, Moody's anticipates a substantial amount of losses on the securitised portfolio. In addition, the likelihood of higher than expected losses on the portfolio has increased substantially, resulting in a downgrade of the most senior class of Notes. Country Risk. In its country ris
Read morePRESS RELEASE: Moody's Downgrades The Class A Cmbs Notes Issued By Epic (Drummond) Limited To Aa3
2nd Jul 2010 15:31
The following is a press release from Moody's Investors Service: EUR 871 million of EMEA CMBS affected London, 02 July 2010 -- Moody's Investors Service has downgraded the Class A Notes issued by Epic (Drummond) Limited (amount reflects initial outstandings): EUR871.175M Class A Floating Rate N
Read moreUK's Great Rolling Stock Company Plans Roadshow For Debut Bond
2nd Jul 2010 09:56
LONDON (Dow Jones)--The Great Rolling Stock Company Ltd. is planning a roadshow next Tuesday through Thursday for a debut bond issue under its GBP4 billion financing program, one of the banks running the sale said Friday. Lloyds Banking Group PLC, Goldman Sachs Group Inc. and the Royal Bank of S
Read moreLloyds Banking Group Wraps Up $750M Public-Income Notes Sale
1st Jul 2010 20:00
By Katy Burne Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Lloyds Banking Group Plc (LYG, LLOY.LN) sold $750 million in long-term public-income notes Wednesday, targeting retail investors. Institutions bought only 5% of the issue, according to a person familiar with the sale. It was the
Read moreUK Banks Cautiously Welcome EU Bonus Rules After 2009 Changes
1st Jul 2010 12:54
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks could gain from a new set of rules on banker bonuses being discussed by European Union governments, after the country unilaterally applied stricter rules on pay last year, people familiar with the situation said Thurs
Read moreLloyds Banking Priced $750M 7.75% Senior Notes Due 2050
1st Jul 2010 07:22
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), said Thursday that it has priced an issue of $750 million 7.75% Senior Notes due 2050 to be issued pursuant to a registration statement filed with the US Securities and Exchange Commission on June 28. MAIN FACTS: -Issue Date July 6
Read moreThursday's newspaper round-up: Bonus, BP, Tate & Lyle
1st Jul 2010 06:16
The EU says cash bonuses for bankers should be capped at 30 per cent of the total bonus, significantly tougher than the FSA's regime for British banks, which set the cap at 40 per cent for the most highly paid and 60 per cent for other senior staff, writes the Times. Top BP executives including Ton
Read moreUPDATE: Lloyds To Cut 650 Jobs After Retail Strategy Review
30th Jun 2010 12:44
(Adds detail and background.) By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) said Wednesday that it will cut 650 jobs after closing an insurance site in the U.K. and shrinking staff in other locations, as it continues to streamline its oper
Read moreLloyds To Cut 650 Jobs After Retail Strategy Review
30th Jun 2010 12:31
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) said Wednesday that it will cut 650 jobs after closing an insurance site and other locations, as it continues to streamline its operations in the U.K. The 41%-government owned U.K. bank is also
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