UKFI reportedly mulls RBS, Lloyds bond
11th Jun 2009 13:29
UK Financial Investments (UKFI), the government body managing Britain's stakes in Royal Bank of Scotland and Lloyds Banking, could reportedly sell an exchangeable bond in the two part-nationalised banks. According to the Telegraph, UKFI could recoup some of the taxpayer money invested in the lender
Read moreThursday newspaper round-up: RBS, Lloyds, Setanta
11th Jun 2009 06:05
The taxpayer could recover part of Britain's £70bn investment in the state-backed banks even before their share prices recover under plans being examined by UK Financial Investments, the Government body managing the stakes. John Crompton, the former Merrill Lynch banker in charge of the taxpayer's
Read moreLondon close: Miners buoy Footsie
10th Jun 2009 16:37
Footsie finished higher but with much diminished gains after surging in early dealings led by buoyant mining stocks then falling back as Wall Street retreated. Miner ENRC surged ahead after it said sales and production volumes during the first quarter were better than prior expectations though pri
Read moreLondon afternoon: Equities off the top
10th Jun 2009 15:06
Shares have eased back in the first half of the afternoon session, though Footsie remains in positive territory. Miners and banks remain the best performers. Miner ENRC surges ahead after it said sales and production volumes during the first quarter were better than prior expectations though pricin
Read moreFTSE 100 movers: Miners surge on commodity hopes
10th Jun 2009 12:51
Miners are buoyant today helped by optimism on metal demand, surging oil prices, a weak dollar and global recovery. ENRC is one of the main risers. It reported sales and production volumes during the first quarter were better than prior expectations though pricing pressures remain. Vedanta, Xstrata
Read moreLondon midday: Miners continue to rally
10th Jun 2009 12:19
Footsie is up more than 100 points with miners and banking shares driving the market forward. Miner ENRC is one of the main risers. Today it said sales and production volumes during the first quarter were better than prior expectations though pricing pressures remain. Vedanta, Xstrata, Kazakhmys, R
Read moreWednesday newspaper round-up: Northern Rock, British Airways, Thomas Cook,
10th Jun 2009 06:15
The Treasury has told its investment banking advisers to examine the feasibility of selling Northern Rock, the nationalised lender, back to the City in the autumn, The Times has learnt. A number of senior banking sources said that the Treasury was trying to ascertain whether it should float the sta
Read moreLondon close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
Read moreUpdate: Lloyds axes 1,660 jobs in C&G closures
9th Jun 2009 14:44
Lloyds Banking confirmed it is axing a further 1,660 jobs and close the branch network of Cheltenham & Gloucester. The part-nationalised bank will close all 164 of the C&G's branches across the UK in November as part of a deep retrenchment programme following the disastrous acquisition of HBOS. Tha
Read moreLondon afternoon: Thos. Cook soars on bid spec
9th Jun 2009 14:39
It's been a see-saw day for London's leading shares which are now predominantly firmer, after US markets opened moderately higher. Lloyds Banking Group has confirmed press reports that it is to close its Cheltenham & Gloucester branch network in a move that will see 1,000 jobs go. Lloyds also annou
Read moreC&G joins High Street graveyard
9th Jun 2009 12:36
There's little room for sentimentality in business, especially in the middle of the worst recession for decades, so Lloyds' decision to close all 164 Cheltenham & Gloucester (C&G) branches by November should come as little surprise. G&G, bought by Lloyds for £1.8bn in 1995, can trace its history ba
Read moreLondon midday: Defence stocks beat a retreat
9th Jun 2009 12:05
Leading shares are now lower, dragged down by expectations of a weak start on Wall Street and by a trimming of the strong early gains made by miners. Lloyds Banking Group is still in the blue on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Gla
Read moreLondon open: Blue chips start well
9th Jun 2009 08:47
Last night's late recovery in Wall Street has given London a modest boost this morning. Lloyds is going well on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Miners are also in demand again following yesterday's rally in the US. Vedanta and Antof
Read moreLloyds to close all Cheltenam & Gloucester branches
9th Jun 2009 08:19
Lloyds Banking is set to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester, according to reports this morning. The part-nationalised bank will close all 160 of the Cheltenham & Gloucester's branches across the UK as part of a deep retrenchment programme following the
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
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