Financial Services Sector News

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  • * Euro zone businesses enjoy best month in nearly three years * Deflation fears remain in euro zone NEW YORK/LONDON April 23 (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since 2011, while the pace of decline in Chinese …

  • U.S. stocks dipped at the open on Wednesday despite upbeat corporate earnings as buyers appeared scarce following the longest streak of daily gains on the S&P 500 so far this year. The Dow Jones industrial ...

  • What’s the difference between Scotland and Iceland? Three letters and eight years, according to a stark warning from Standard & Poor’s

  • Barclays could slash 7,500 investment banking jobs as part of an overhaul of its business following various scandals, a broker said on Wednesday.

  • Lloyds' costs, integration expert Fisher to leave Reuters - UK Focus - 1 hour 16 minutes ago

    Lloyds Banking Group's director of operations, Mark Fisher, is leaving the bank after five years overseeing its integration of HBOS, the separation of more than 600 branches and a major cost-cutting programme. Fisher will become a non-executive director of TSB, the bank with 631 branches that has been spun out from Lloyds …

  • S. Korean cosmetics firm LG Household eyes Elizabeth Arden

    Elizabeth Arden lipsticks are displayed at The Stuart Weitzman luxury suite at the Sofitel LA Hotel in Los Angeles, California on February 21, 2007

  • Lloyds Banking Group PLC (LON:LLOY) is looking more attractive than at any time since the financial crisis.

  • Broker tips: AB Foods, ARM, Wolseley... Sharecast - 1 hour 59 minutes ago

    Panmure Gordon has upgraded its rating for Associated British Foods from 'hold' to 'buy' after the company announced its intention to expand its fast-growing Primark brand into the US towards the end of ...

  • Should You Sell Quindell PLC On Gotham Report? Fool.co.uk - 2 hours 30 minutes ago

    Quindell PLC's (LON: QPP) reputation is taking a hammering, but the truth may be hidden in plain sight.

  • Royal Bank of Scotland Group plc (LON: RBS) is may be pain, but long-term investors can still gain, says Harvey Jones

  • Wednesday broker round-up UPDATE Sharecast - 3 hours ago

    AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy.

  • * German stocks set to see earnings growth LONDON, April 23 (Reuters) - German shares may overtake their Italian and Spanish peers as Europe's star performers this quarter, boosted by better corporate earnings at a time when expensive valuations are making investors more selective. German companies are seen beating consensus …

  • * Orders for conveyor belts improving in Australia April 23 (Reuters) - Fenner Plc (LSE: FENR.L - news) , a maker of conveyor belts that has been hit by a slowdown in the global mining industry, said orders were picking up in Australia and in newer markets such as South America, helping to offset weakness in the U.S. coal …

  • AB Foods jumps on Primark expansion plans; Stocks rise, but upside limited; BoE minutes, economic data ahead; Chinese manufacturing PMI contracts again.

  • ARM Holdings (LSE: ARM.L - news) , whose chip technology powers Apple (NasdaqGS: AAPL - news) 's iPhone, said demand for smartphones would pick up in the second half after a disappointing end to 2013 resulted in first-quarter profit rising less than in previous years. Sales of top-end smartphones, a market dominated by …

  • Shares in holiday operator Thomas Cook (Xetra: A0MR3W - news) climb 4.6 percent, putting it among the top risers in Britain's midcap index, with traders citing an upgrade to the stock by Barclays (LSE: BARC.L - news) to "overweight" from "equal weight" as driving the move. "While the shares have risen 300 percent since …

  • Shares in Banca Monte dei Paschi (Milan: BMPS.MI - news) di Siena (BMPS) rise more than 4 percent after Goldman Sachs (NYSE: GS-PB - news) raises its rating on the Italian lender to 'neutral' from 'sell' following the bank's decision to increase the size of its previously announced rights issue. Goldman Sachs also removes …

  • Barclays Plc (LSE: BARC.L - news) needs to cut about 7,500 jobs in its investment bank, or almost 30 percent of its staff, to get its profitability back above its target as tougher regulations squeeze income, analysts at Bernstein say. Barclays is due to release details of a review of its investment bank on May 8, which …

  • Barring unexpected events, the upcoming trading session may well turn out to be the most interesting this week, as investors focus on a raft of important economic data which are set for release, alongside ...

  • The increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities. Barclays (LSE: BARC.L - news) on Tuesday followed similar moves by rivals Deutsche Bank (Xetra: DBK.DE - news) , …

  • Manufacturing activity in China contracted for the fourth month in a row in April, according to a private survey out Wednesday from HSBC and Markit.

  • The EUR/USD has seen little action for almost a week, as the cross has been trapped in a tight range of around 90 pips. The cross is trading close to the 1.3820 level on Wednesday morning, ahead of the ...

  • Curb Excessive Pay Or Face Action, Warns Cable

    The bosses of Britain's biggest companies have been warned by Vince Cable they must do more to curb excessive pay or face "further action". In a letter to the FTSE 100 Remuneration Committee chairs, the Business Secretary wrote that "excessive and disproportionate pay in the corporate sector damages popular trust in business". …

  • * Moves in other major currencies subdued (Updates prices, adds comments) SINGAPORE, April 23 (Reuters) - The Australian dollar slid on Wednesday after data showed that Australian consumer prices rose less than expected in the first quarter, lessening the risk of a rise in domestic interest rates this year. Other major …

  • AB Foods jumps, ARM and Sports Direct fall; UK borrowing falls more than expected; Chinese manufacturing still in contraction; Eurozone business activity improves.

  • 1100: The CBI's total industrial orders trend index fell to a reading of -1 in April, after a reading of 6 for the month before (consensus: 7).

  • Barclays Pay Plans Receive Mixed City Verdict

    Barclays (LSE: BARC.L - news) will this week suffer a sizeable City rebellion over its decision to hike bonuses last year while simultaneously receiving overwhelming shareholder backing for its future pay plans. Sky News has learnt that more than 90% of investors who have cast their votes in advance of this week's annual …

  • British Business Secretary Vince Cable on Tuesday warned banks and other major companies to rein in excessive executive pay or face tighter rules, in a letter aimed at Barclays (LSE: BARC.L - news) and other FTSE 100 companies ahead of their annual general meetings. In a letter to companies listed on the blue-chip FTSE …

  • A sample of Botox is seen at the Long Island Plastic Surgical Group at the Americana Manhasset luxury shopping destination in Manhasset

    The offer, if successful, would bring together two mid-sized pharmaceutical companies with expertise in skin care and eye care products, and is highly unusual as activist investors typically buy stakes and then agitate for strategic change. Ackman's Pershing Square Capital Management, Allergan's largest shareholder with …

  • Is the euro the new funding currency? Sharecast - 19 hours ago

    Recent strength in the euro against other major global currencies is compounding the declining inflation trend in the single currency area and has in ways encouraged investors to pile into the riskier ...

  • Business Secretary warns that unless more is done to keep pay down, he might have to take “further action”

  • * Novartis (Xetra: NOT.DE - news) to buy GSK's oncology assets for up to $16 bln * Lilly to buy Novartis' animal health arm for $5.4 bln * Deals, plus talk of Pfizer (NYSE: PFE - news) -Astra deal, lift sector shares (Adds details on Lilly animal health unit, updates share movement) ZURICH/LONDON, April 22 (Reuters) …

  • British greeting cards retailer Card Factory plans a stock market flotation that could value it at 1 billion pounds ($1.7 billion), joining a spate of store chains seeking public listings as the outlook for consumer spending brightens. Card Factory, which analysts have estimated to have a total equity value of up to 1 …

  • FTSE closes up 56.51 points at 6,681.76; Easter weekend retail sales disappoint; Monthly US existing home sales down 0.4 per cent

  • The SFC said in a statement RBS (LSE: RBS.L - news) failed to detect and prevent unauthorized trades in its emerging markets rates business in the city in 2011, following the discovery of unauthorized trades by former trader Shirlina Tsang. "We put in place a comprehensive remediation programme that strengthened our governance …

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