Bankers' bonus cap to hit up to 10 times as many employees
20th May 2013 09:58
PricewaterhouseCoopers has said the European Union (EU) is to significantly extend the reach of the bankers' bonus cap to include 10 times as many employees than previously expected. Officals from the European Banking Authority will this week cap financial sector pay at 0.5m euros, PwC has said.
Read moreMonday newspaper round-up: RBS, UK inflation, M&S...
20th May 2013 06:47
Chancellor George Osborne is expected to face opposition from Treasury civil servants over his plans to sell the government's stake in part-nationalised lender RBS to the public, reports The Times. Senior officials are said to be against the idea, saying that they are over-complex and have raised co
Read moreSunday share tips: Thomas Cook, Mitchells and Butlers, Lloyds
19th May 2013 17:30
Thomas Cook still has a long flight ahead of it, but the new Captain at the controls seems to have stabilised the craft. In fact, things now look normal. Above all, the company needs to sharply improve the experience of its customers, quite a challenge. However, the 1.6bn pound capital restructurin
Read moreLondon close: FTSE 100 hits new multiyear highs after US data
17th May 2013 16:29
The FTSE 100 rallied in afternoon trade after some better-than-expected economic data from the States, pushing the index to new five-and-a-half-year highs. A strong surge so far this month has now lifted London's equity benchmark to within touching distance of the 2007 high of 6,751. The Footsie ha
Read moreFTSE 100 movers: RBS rises into top spot on UBS comments
17th May 2013 14:42
Banks were making a strong rise after UBS lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. In a research report titled 'Post-crisis banking', UBS said that the tone of its Global FID conference earlier
Read moreLloyds sees share price reach government break-even point
17th May 2013 13:50
Lloyds Banking Group's shares advanced Friday to a level which the government considers high enough to exceed the break-even point for a sale of its stake in the company. The state-backed lender rose 3.02% to 62.75p at 13:57, above the government's 61.2p break-even price. Industry sources and anal
Read moreLondon midday: Markets rally as banks rise
17th May 2013 11:47
After a subdued start, the FTSE 100 pushed into positive territory ahead of the opening bell in New York with financials leading the rise after a broker upgrade. The Footsie breached the 6,700 mark yesterday for the first time since mid-2007 after 10 consecutive sessions in the blue, before falling
Read moreBroker snap: UBS upgrades banks to 'overweight' as conditions improve
17th May 2013 10:59
UBS has lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. In a research report titled 'Post-crisis banking', UBS said that the tone of its Global FID conference earlier this week was "neutral to slightl
Read moreLondon close: FTSE 100 snaps winning streak after poor US data
16th May 2013 16:41
The FTSE 100 has finally ended its long-running winning streak after poor economic data from the States dampened stocks by the close of trade on Thursday. Markets were relatively rangebound for most of the session today, teetering around a five-and-a-half-year high of 6,700 following 10 consecutive
Read moreLloyds Banking Group to restart dividend payments
16th May 2013 12:13
The Chairman of Lloyds Banking Group, Win Bischoff, said the company hopes to restart dividend payments as soon as possible. Bishoff, who this week revealed he would retire in a year's time, also said the government will be able to sell its shares in the part-nationalised bank "over time". "Once r
Read moreLondon midday: Markets rangebound but winning streak continues
16th May 2013 11:34
The FTSE 100 was continuing to trade within an extremely tight range on Thursday morning as investors consider how much further the rally will go given that the index is already trading at levels not seen in five and a half years. Just 15 points separated the Footsie's intraday low (6,693) and hig
Read moreBroker tips: Aviva, RBS, Lloyds...
16th May 2013 11:31
Investec has kept its 'reduce' rating and 316p target price for insurance giant Aviva despite a well-taken first-quarter trading update from the firm on Thursday. "There are signs of improvement in the 1Q numbers, but progress in one area is matched by difficulties in another. Fixing Aviva is likel
Read moreBroker snap: Daniel Stewart upgrades RBS and Lloyds on reprivatisation hopes
16th May 2013 10:23
Daniel Stewart & Company has raised its ratings for part-nationalised lenders RBS and Lloyds to 'buy', saying that placings of the government stakes in 2014 now look like a 'strong probability'. An article in the Financial Times on Wednesday evening said that David Cameron has dropped his strongest
Read moreTuesday tips round-up: Banks, Petropavlovsk, Glencore Xstrata
14th May 2013 07:10
Authorities attempts to create a challenger to the main established lending groups - RBS, Lloyds, Barclays, HSBC - are in a state of disarrray after Moody´s six notch downgrade of Co-op last week. Simply put, creating a large new lender is far more difficult and risky than many appreciate. In any ca
Read moreTuesday newspaper round-up: Severn Trent, Lloyds, Vodafone...
14th May 2013 06:52
According to The Times, Severn Trent could be the target of a bid worth up to 5.3bn pounds. The utility company is said to be in talks with Canadian infrastructure investors Borealis and the Kuwait Investment Authoirty The Independent says that the new Chairman to replace Sir Win BIschoff at Lloyds
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