June 5 is decision day for Lloyds' shareholders
20th May 2009 07:02
Lloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank's placing and compensatory open offer. Qualifying shareholders, i.e. those who acquired shares before 8:00am on Wednesday, 20 May, will be able to subscribe for 0.6213 new ordinary shares f
Read moreLloyds director buys
19th May 2009 17:00
Lloyds Banking Group non-exec Timothy Ryan has purchased 20,000 shares in the bank. Ryan paid 94p per share, taking the total cost of the purchase to nearly £19,000. The group did not reveal his current holdings. Yesterday, the bank confirmed it has agreed with the Treasury to launch a previously
Read moreLloyds and ABN axe more staff
19th May 2009 14:37
Lloyds Banking Group is cutting another 625 British jobs on the same day that Dutch bank ABN Amro announced plans to get rid of as many as 6,500 staff. The losses are blamed on the merger of the UK bank's corporate and small-business lending units, part of the wholesale banking business, following
Read moreLondon open: Footsie up despite M&S disappointment
19th May 2009 08:48
Footsie has built on yesterday's gains as traders wade through the continuing stream of company results. Marks & Spencer has fallen sharply after it revealed a final dividend cut of a third after the clothes and food retailer saw a sharp drop in pre-tax profits to £706.2m from £1.13bn. M&S said it
Read moreTuesday newspaper round-up: Bank of England, Barclays, Lloyds
19th May 2009 06:17
The Bank of England revealed yesterday that it had racked up record profits of almost £1bn in the year to February as its fee-earning activities burgeoned amid the global financial and economic turmoil, reports the Times. Lehman Brothers Holdings wants to investigate whether the sale of its US brok
Read moreLondon afternoon: Momentum gathers pace
18th May 2009 14:33
A strong start on Wall Street has given renewed impetus to London's advance, with a strong showing by the Indian stock exchange also benefiting some India-focused stocks. Vedanta is a rare bright spot among miners, benefiting from the bounce Indian stocks received in the wake of the country's elect
Read moreLondon midday: Lloyds lifts market
18th May 2009 11:57
Leading shares are off the top but Footsie remains in positive territory despite the mining sector moving down virtually en masse. Vedanta is a rare bright spot among miners, benefiting from the bounce Indian stocks received in the wake of the country's election result. India's Sensex index surged
Read moreFTSE 100 movers: Miners hit by broker caution
18th May 2009 11:13
The mining sector is down 11% over the last week, adding weight to the growing number of voices suggesting that the sector's revival has been premature. US bank Citigroup has been reviewing the sector and is of the opinion that any good news likely to emerge in the next six months from miners has a
Read moreSector movers:
18th May 2009 11:02
Lloyds is leading the banking sector higher after Sir Victor Blank announced that he is planning to step down as chairman of Lloyds Banking by June next year, following continuing criticism of his bank's ill-fated purchase of rival HBOS. Lord Leitch has been appointed as deputy chairman with immedi
Read moreLondon open: Indian result gives boost
18th May 2009 08:40
London's blue chips have rallied from a weak opening with this morning dominated by Lloyds Banking and the surge by Indian stocks on the clear election victory by the Congress party. Sir Victor Blank confirmed that he is planning to step down as chairman of Lloyds Banking by the AGM in 2010 follow
Read moreLondon pre-open: Footsie points lower
18th May 2009 07:36
London's blue chips are expected to drop in early dealings with traders predicting Footsie to start around 40 points lower. Sir Victor Blank announced that he is planning to step down as chairman of Lloyds Banking by the AGM in 2010 following continuing criticism of his bank's ill-fated purchase o
Read moreSir Victor to step down as Lloyds chairman
18th May 2009 07:01
Sir Victor Blank announced that he is planning to step down as chairman of Lloyds Banking by June next year, following continuing criticism of his bank's ill-fated purchase of rival HBOS. Lord Leitch has been appointed as deputy chairman with immediate effect. "I believe it is the right time for
Read moreMonday newspaper round-up: Lloyds Banking, Shell, BT
18th May 2009 06:20
The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall. A powerful combination of investors as well as business and political leaders are arguing that the superbank should be de
Read moreSunday's newspaper round-up: Lloyds, RBS, cash-calls
17th May 2009 13:31
Sir Victor Blank is believed to be close to stepping down as chairman of Lloyds Banking Group following pressure from investors furious about the bank's rescue of HBOS, says the Independent on Sunday. The City regulator has fired the opening shot in its inquiry into the crisis that engulfed Britain
Read moreBroker tips: Banks, M&S, Morgan Crucible
15th May 2009 12:36
Barclays, already fielding bids for its iShares business, was buoyed Friday morning by rumours of a sale of the whole of its asset management arm. US group Blackrock is rumoured to be interested in buying the unit and may be prepared to pay up to $10bn. Little wonder, then, that Keefe, Bruyette
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