Lloyds sacking another 200
25th Aug 2009 12:13
Lloyds Banking Group is axing 200 jobs at its general insurance division just days after throwing a lifeline to almost 900 staff at its Cheltenham & Gloucester (C&G) unit. The company, 43%-owned by the government, said the cuts would take until the end of January to complete as it merges Lloyds TSB
Read moreLondon midday: Footsie still in the red
25th Aug 2009 11:54
Despite threatening to move back into positive territory an hour ago, the Footsie has slid further back down into the red. Miners are still heavily weak with seven out of the top ten losers so far from the sector. Kazakhmys, Xstrata, Antofagasta, Eurasian Natural Resources, Rio Tinto, BHP Billiton
Read moreLondon close: Stocks finish ahead
24th Aug 2009 16:23
London's leading shares have finished the day with comfortable gains as miners and banks stole the limelight. Mining giant Rio Tinto is reportedly in talks with the Aluminium Corporation of China (Chinalco) over co-operation in bauxite and alumina production. The Australian Financial Review newspap
Read moreSunday newspaper round-up: Lloyds, Betfair, Johnston Press
23rd Aug 2009 12:35
Sir Win Bischoff, the incoming chairman of Lloyds Banking Group, is facing pressure to clear out the boardroom. Investors are telling him to beef up the banking experience on the board in the wake of its catastrophic takeover of HBOS, which has already claimed the scalp of outgoing chairman Sir Vict
Read moreDivi trend hobbles Dogs of the Footsie
21st Aug 2009 16:38
Dividend payouts by British companies in the first half of the year were down by 9% on the corresponding period of 2008, creating a less than propitious environment for advocates of the 'Dogs of the Footsie', the mechanical investment strategy which focuses on high-yielding blue-chips. Figures fro
Read moreLondon close: Late rally leaves Footsie little changed
19th Aug 2009 17:14
Share prices of London's leading stocks closed mixed, thanks to a late rally, after the market had spent most of the day in retreat. ENRC was the day's star performer despite reporting a 63% slide in pre-tax profits for the first half of 2009. The dividend has been cut in half but investors were e
Read moreLloyds reviews Cheltenham & Gloucester closure
19th Aug 2009 15:43
Part-nationalised bank Lloyds Banking said it will review its decision to close all 164 Cheltenham & Gloucester (C&G) branches. The surprise announcement comes two month after the lender said it would close the entire branch network by November. Lloyds didn't give a reason for the decision, but sa
Read moreLondon afternoon: Lloyds provides some cheer
19th Aug 2009 14:14
The bears are back in command today with the blue-chip index in the red, though the size of the decline has been exacerbated by a number of index constituents trading in ex-dividend form. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British Americ
Read moreBroker tips: Lloyds Banking, ENRC, Lookers
19th Aug 2009 12:46
Long suffering shareholders of Lloyds Banking Group can look forward to the bank resuming dividend payments next year, analysts at Royal Bank of Scotland (RBS) predict. RBS believes its fellow part-nationalised bank is on the recovery trail and its finances should be sufficiently restored to pay a
Read moreBroker snap: Lloyds a strong recovery play
19th Aug 2009 12:45
Long suffering shareholders of Lloyds Banking Group, many of whom bought the shares for dividend income, can look forward to the bank resuming dividend payments next year, analysts at Royal Bank of Scotland (RBS) predict. RBS believes its fellow part-nationalised bank is on the recovery trail and i
Read moreFormer bank bosses rehired
19th Aug 2009 11:41
Banks have lost tens of billions of pounds over the past few years, so it's perhaps a little surprising that men held responsible for the credit crunch have found gainful employment at some of Britain's biggest companies. Back in May, Richard Burrows apologised for Bank of Ireland's £6.2bn full-yea
Read moreLondon close: Stocks near session high
12th Aug 2009 16:14
Footsie closed near a session high on Wednesday as London's top stocks continued to add to gains in afternoon trade, with banks among the best performers. Lloyds Banking finished up more than 6%, closely followed by fellow part-nationalised lender Royal Bank of Scotland . The FSA unveiled a new co
Read moreLondon afternoon: Gains trimmed
12th Aug 2009 14:10
London is clinging onto positive territory as Wall Street gears up for a slow start ahead of tonight's Federal Reserve policy statement. Banks continue to do well. Royal Bank of Scotland agreed to sell its Pakistan unit to MCB Bank for $87m (£53m). The UK lender, 70%-owned by the British governmen
Read moreLondon midday: Footsie rallies despite BoE caution
12th Aug 2009 12:16
Footsie has rallied despite a mixed morning for UK economic news with unemployment hitting a new 14-year high and low key comments about UK recovery from the Bank of England. In the central bank's quarterly inflation report, Bank governor Mervyn King said the sustainability and strength of any reco
Read moreLondon open: Dull start for Footsie
12th Aug 2009 08:45
London's leading share index is in reverse gear again as the banks drift lower with miners also weak after BHP Billiton's figures and four Rio executives being charged with bribery by China. Full-year profits have halved at miner BHP Billiton as the recession slashed volumes and sent prices tumbli
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