CBI opposed to break up of banks
4th Feb 2011 00:04
The desire to break up UK banks considered "too big to fail" should be resisted, John Cridland, the new head of the pressure group the Confederation of British Industry (CBI), said on Friday. In a series of recommendations to the Independent Commission on Banking, Cridland said: "Businesses value i
Read moreBroker tips: UK banks, Experian
3rd Feb 2011 14:08
According to Credit Suisse, there is "little to excite" investors in UK banking: Barclays remains the broker's top pick in the sector, while target prices are reduced for Lloyds, RBS, HSBC and Standard Chartered. In regards to the sector as a whole, "our advice is unchanged", says analyst John Pier
Read moreBroker snap: Little to excite at UK banks
3rd Feb 2011 13:06
According to Credit Suisse, there is "little to excite" investors in UK banking: Barclays remains the broker's top pick in the sector, while target prices are reduced for Lloyds, RBS, HSBC and Standard Chartered. In regards to the sector as a whole, "our advice is unchanged", says analyst John Pier
Read moreFTSE 100 movers: Possible RBS share sale next year
31st Jan 2011 13:12
Financials are leading the fallers today, with investors concerned about the exposure of UK banks to Egypt. Sticking with the banking sector, RBS believes that the government might start selling its stake in the bank early next year. The unrest in Egypt also appears to have taken its toll on the
Read moreUKFI defends Lloyds/RBS bonuses
27th Jan 2011 12:26
UK Financial Investments, which oversees the taxpayer's stakes in Lloyds Banking and Royal Bank of Scotland, has defended the banks' staff bonuses as necessary to attract talent to maintain their value. UKFI chief executive Mark Budenberg told a select committee of MPs that the banks needed to reta
Read moreThursday newspaper round-up: BP, Soros, banks
27th Jan 2011 06:04
BP and Rosneft have pledged to expand their Arctic development deal after asserting the agreement does not violate the terms of BP's prior tie up with Russian oligarchs. Signing a "strategic framework agreement" on the sidelines of the World Economic Forum in Davos, Switzerland, BP and state-owned
Read moreLondon close: Shares jump after sluggish start
24th Jan 2011 16:46
Shares put their early indecisiveness behind them to close with good gains after a decent start on Wall Street. Banks were weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political
Read moreLondon afternoon: Stocks edge higher
24th Jan 2011 14:49
After a morning of indecision, leading shares pushed on over the lunch time session, despite the weakness of the banking sector. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms
Read moreSector movers: Pharmaceuticals up, banks down
24th Jan 2011 14:27
Pharmaceuticals and biotechnology is the best performing sector today. Source Bioscience put in a solid trading performance during November and December 2010 and full year 2010 results should be in line with market expectations. "Both our LifeSciences and PharmaBiotech divisions demonstrated double
Read moreNGnooncall:Equity markets fairly quiet on slow day for data
24th Jan 2011 13:40
UK UK markets have traded fairly quietly today with the banking sector leading the fallers after the report at the weekend by Sir John Vickers, chairman of the Independent Commission on Banking, said the financial crisis had exposed a "damagingly rickety structure" at the heart of the financial syst
Read moreFTSE 100 movers: Banks turn lower
24th Jan 2011 12:50
RBS and Lloyds are both lower after comments by the head of the Independent Banking Commission over stricter capital rules and the possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled financials. Goldman Sachs has downgraded engineer In
Read moreLondon midday: Banks hold back FTSE 100
24th Jan 2011 12:13
Shares are still seeking direction as banks fall back. The sector is weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled the mood. RBS
Read moreLondon open: Cautious start to week
24th Jan 2011 08:51
London is muddling along in the early exchanges despite the decent finish to last week on Wall Street. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems i
Read moreProject Merlin progress stalls
23rd Jan 2011 14:29
Talks between the UK's big banks and the government over the amount they will lend to small businesses have stalled, according to reports over the weekend. Project Merlin, as the plan is known, had been tipped to be unveiled possibly as early as Monday, but last minute hitches mean an agreement may
Read moreLondon close: Shares end week on a high
21st Jan 2011 16:59
London's leading share index went into the weekend on a high after falls the previous two days. Royal Bank of Scotland led the top share index higher after the FT reported that bank executives and officials at the Treasury are talking about ways for the bank to exit the toxic asset scheme. After
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