Sunday newspaper round-up: General Motors, Vauxhall/Opel, BSkyB
31st May 2009 10:25
General Motors, once the largest company in the world, is expected to file for bankruptcy in a New York court tomorrow. Executives and politicians on both sides of the Atlantic are spending the weekend finalising details ahead of the historic capitulation that comes after months of talks and billion
Read moreLloyds offer deadline may be sooner than you think
29th May 2009 17:10
Lloyds Banking Group shareholders have less than a week to make up their minds whether to participate in the group's open offer, or in some cases less than a day. Officially, the deadline for shareholders wishing to take up the open offer is noon on 5 June, but some some online dealing services ha
Read moreWeek Ahead: Lloyds Banking, Carphone Warehouse, BoE meeting
29th May 2009 11:16
Friday is the date of the AGM for Lloyds Banking Group and it is also the deadline for the group's open offer. 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 bef
Read moreLondon close: US sparks Footsie recovery
26th May 2009 16:29
Footsie finished higher Tuesday after a strong performance by US shares, lifted by consumer confidence figures, hauled London's leading share index out of the red. The mining sector summed up the volatility seen on the markets today. Rio Tinto climbed after it said it had agreed a 33% cut in contra
Read moreLondon afternoon: Defensive stocks back in favour
26th May 2009 14:42
Hopes that Wall Street might provide a fillip to UK shares have been dashed as US markets open in a similarly dull fashion to London. Mining stocks and financials are the worst performers while defensive sectors such as tobaccos and supermarkets have returned to favour. Mining giant Rio Tinto is lo
Read moreLondon midday: Equities drift lower
26th May 2009 12:07
It was a dull morning session for London's leading shares, with the market following Asian markets lower after the news broke concerning North Korea's nuclear bomb test. Mining stocks and financials are the worst performers. Mining giant Rio Tinto is lower after it agreed a 33% cut in contract fin
Read moreSunday newspaper round-up: Land Securities, Brixton Estates, Lloyds
24th May 2009 09:22
The chief executive of Land Securities, Francis Salway, has been given six months to come up with a radical business plan for the FTSE 100 property giant - or face being sacked. Alison Carnwath, the new chairwoman, has laid down the gauntlet after a set of shocking results this month, which saw th
Read moreLondon close: Downgrade threat sinks Footsie
21st May 2009 16:35
Footsie closed with triple-digit fall as investors got spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general
Read moreLondon afternoon: Decline picks up pace
21st May 2009 14:36
The Footsie is nursing a triple-digit fall as investors bail out of equities, spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tigh
Read moreMore job losses at Lloyds
21st May 2009 13:37
Staff at Lloyds Banking Group were dealt another blow today as the part-nationalised lender announced a further 211 full-time jobs will go by January 2010. Lloyds, 43% owned by the taxpayer, continues to streamline the business following last year's takeover of rival HBOS. The latest cuts come abo
Read moreThursday newspaper round-up: Lloyds Banking, RBS, Clinton Cards
21st May 2009 06:12
The British taxpayer would make a £17.6bn loss if the Government sold out of Lloyds Banking Group and Royal Bank of Scotland at today's prices. The figures, compiled by analysts at Exane BNP Paribas, make even a partial sale of the Government's stake in either bank before a general election next sp
Read moreLondon close: Jittery Footsie finishes lower
20th May 2009 16:36
Footsie failed to sustain a slight rally that came after a positive US opening and finished in the red after an indecisive day's trading. Miners Lonmin, Rio Tinto, Vedanta, Randgold, Antofagasta and Kazakhmys all went well, while silver and gold producer Fresnillo was wanted after it said it has su
Read moreLondon afternoon: Wall St. sparks London rally
20th May 2009 14:49
A buoyant opening on Wall Street has encouraged UK shares to claw back the morning's losses and the FTSE 100 is now virtually back up to its overnight level. Banks are leading the revival, with Lonmin, Rio Tinto, Vedanta, Randgold, Antofagasta and Kazakhmys all going well, while silver and gold pro
Read moreSector movers: Metals stocks rise again
20th May 2009 12:48
The industrial metals sector is shrugging off a gloomy trading update from International Ferro Metals to climb for the second day in a row. The ferrochrome producer said it remains focused on preserving cash and cutting costs as it reported falling sales of the alloy used to make stainless steel. I
Read moreLondon midday: Financials drag Footsie down
20th May 2009 12:01
Leading shares remain mixed with the Footsie in negative territory thanks, in part, to weak performance by financial stocks. The share price of Lloyds Banking Group has been adjusted to take into account the fact that the shares no longer carry the right to participate in the group's compensatory o
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