• Reutersyesterday

    Financials weigh on FTSE as BoE holds rates

    Britain's top share index slipped on Thursday, weighed down by losses among financial stocks, while miner Lonmin soared after a rescue takeover bid. The FTSE index fell 0.46 percent to 7,462 points, with scarce impact from the Bank of England's decision to keep benchmark interest rates on hold. The decision was widely expected, with the economy slowing amid uncertainty over the country's exit from the European Union.

  • Reuters - UK Focusyesterday

    Financials weigh on Britain's FTSE as BoE holds rates

    Britain's top share index slipped on Thursday, weighed down by losses among financial stocks, while miner Lonmin soared after a rescue takeover bid. The FTSE index fell 0.46 percent to 7,462 points, with ...

  • Reutersyesterday

    Former FSA chief Sants denies pressurising Lloyds over HBOS

    Britain's markets regulator did not shepherd Lloyds Banking Group towards buying struggling peer HBOS during the financial crisis in 2008 although it supported the deal, its former chief executive told London's High Court on Thursday. Hector Sants, the chief executive of the now defunct Financial Services Authority (FSA) from 2007 to 2012, told a court case brought by thousands of Lloyds shareholders that the regulator was focused on ensuring banks were adequately capitalised to weather roiling markets.

  • Reuters - UK Focusyesterday

    Former UK FSA chief Sants denies pressurising Lloyds over HBOS

    LONDON, Dec (Shanghai: 600875.SS - news) 14 (Reuters) - Britain's markets regulator did not shepherd Lloyds Banking Group towards buying struggling peer HBOS during the financial crisis in 2008 although it supported the deal, its former chief executive told London's High Court on Thursday. Hector Sants, the chief executive of the now defunct Financial Services Authority (FSA) from 2007 to 2012, told a court case brought by thousands of Lloyds shareholders that the regulator was focused on ensuring banks were adequately capitalised to weather roiling markets.

  • Reuters - UK Focus2 days ago

    Britain's FTSE weighed down by financials, eyes on BoE

    The UK's top share index slipped on Thursday, weighed down by losses among financial stocks, while among positive commodity stocks, miner Lonmin soared after a takeover bid. The FTSE index was down 0.14 ...

  • Reuters - UK Focus3 days ago

    Lender Aldermore appoints Pat Butler as chairman after takeover deal

    British bank Aldermore Group, which has agreed to be taken over by South African lender FirstRand, said on Wednesday it had appointed Pat Butler as chairman starting from Jan. 1. Butler, who will take ...

  • No deal: Noel Edmonds made £10m Lloyds proposal
    Sky News3 days ago

    No deal: Noel Edmonds made £10m Lloyds proposal

    Noel Edmonds proposed settling a legal claim against Lloyds Banking Group for a small fraction of the £300m he originally sought in relation to a fraud involving Britain's biggest high street lender. Sky News has learnt that lawyers for Mr Edmonds, who hosted television shows including Deal or No Deal and Telly Addicts, told Lloyds during mediation talks last month that he would accept a £10m payment from the bank in exchange for dropping his claim. Lloyds rejected the offer, prompting the TV presenter to walk out of the meeting on 10 November.

  • Reuters4 days ago

    FTSE advances, led by gains in financial services

    A weaker pound, rising oil prices and growing confidence in the financial sector helped pushed British shares higher and well ahead of their European peers on Monday. The blue-chip FTSE 100 climbed 0.7 percent, outperforming Paris and Frankfurt which retreated 0.2 percent and 0.3 percent respectively. "GBP (sterling) has given up the gains made on Friday morning" after the announcement of a deal between the European Commission and Britain on Brexit divorce terms, Rabobank said in a note.

  • Reuters - UK Focus6 days ago

    Britain's smaller banks jostle for business banking grants

    LONDON, Dec (Shanghai: 600875.SS - news) 10 (Reuters) - Britain's smaller banks are lining up to apply for multi-million pound grants the government hopes will help them compete in the corporate banking market. For years the government has wanted to reduce the dominance of big banks in the small-to medium-sized business (SME) banking sector.

  • Reuters7 days ago

    European stocks rally after Brexit, banking rules deals

    European stocks rallied to a week's high on Friday as Britain and the European Union announced a breakthrough in Brexit negotiations and new global banking regulations appeared kinder to European banks than had been expected. The European Commission said enough progress had been made after it worked through the night with the United Kingdom to end an impasse over the status of the Irish border, which had scuppered an earlier attempt to clinch a deal on Monday. "This appears to be a far better outcome than we and the market had feared," wrote Citi analyst Simon Nellis, keeping his "overweight" rating on European banks.

  • Brexit breakthrough boosts FTSE as pound slides, housebuilders rise
    Reuters7 days ago

    Brexit breakthrough boosts FTSE as pound slides, housebuilders rise

    A breakthrough in Brexit talks helped British shares surge ahead of European peers on Friday as sterling fell back, dented by investors banking their gains in the currency which has swung violently as negotiations unfolded. The blue chip FTSE 100 index closed up 1.2 percent, delivering its strongest week in two months, while euro zone stocks ended the day 0.7 percent higher with all sectors trading in positive territory. Britain and the European Union struck a divorce deal paving the way for talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit.

  • Reuters - UK Focus8 days ago

    Britain's FTSE dips as pound rises on Brexit breakthrough

    UK shares edged slightly lower on Friday as the pound gently rose against the dollar after the European Commission said enough progress had been made in Brexit negotiations with Britain to allow a second ...

  • The Wall Street Journal8 days ago

    [$$] LDC Appoints Midlands Director, Boosts London Team

    The firm has hired a new investment director and relocated two executives to London.

  • Lloyds sells London headquarters to Chinese firm in lease-back deal
    Reuters8 days ago

    Lloyds sells London headquarters to Chinese firm in lease-back deal

    Lloyds Banking Group said it has sold its London headquarters to a Chinese property investment company for an undisclosed price. Under the terms of the sale to Hengli Investments Holding, Lloyds will lease back the 25 Gresham Street building, which it has occupied since its construction, for the next 20 years. The sharp drop in the value of sterling following Britain's vote last year to leave the European Union has lured foreign investors into the British real estate market.

  • Reuters - UK Focus9 days ago

    Lloyds sells London headquarters to Chinese firm in lease-back deal

    LONDON, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - Lloyds Banking Group said it has sold its London headquarters to a Chinese property investment company for an undisclosed price. Under the terms of the sale to Hengli Investments Holding, Lloyds will lease back the 25 Gresham Street building, which it has occupied since its construction, for the next 20 years. The sharp drop in the value of sterling following Britain's vote last year to leave the European Union has lured foreign investors into the British real estate market.

  • Reuters - UK Focus10 days ago

    UPDATE: Lloyds Banking gives final guidance for 6yr/10yr Samurai

    TOKYO, Dec 6 - Lloyds Banking Group has put out final price guidance for its Samurai bonds of six and 10 years at 30bp over yen offer-side swaps and 41bp over, respectively. The six-year tranche was marketed ...

  • Bank of England considered bigger increase to banks' risk buffer last week
    Reuters11 days ago

    Bank of England considered bigger increase to banks' risk buffer last week

    The Bank of England considered raising banks' capital requirements last week by more than it had previously signalled to tackle risks to the financial system including those from Brexit, the BoE said on Tuesday. Britain's banks have had to triple the capital they hold as a cushion against potential losses since the 2007-09 financial crisis which plunged the country into a recession, and the BoE is keen to ensure they are well-protected against future risks. Last week the BoE increased British banks' counter-cyclical capital buffer to 1 percent from 0.5 percent.

  • FTSE lags European rally as Brexit talks fail
    Reuters11 days ago

    FTSE lags European rally as Brexit talks fail

    The blue chip FTSE 100 (.FTSE) index was up 0.55 percent at 7,340.91 points, a modest performance in comparison with France's CAC 40 (.FCHI) and Germany's DAX (GDAXI), which were up 1.3 percent and 1.5 percent respectively. "The late afternoon news about no deal meant that sterling surrendered most of its gains, but there was little help for the FTSE 100," said Chris Beauchamp, Chief market analyst at IG. Last week's strength in sterling on the back of optimism over Brexit talks weighed on the FTSE 100, which ended the week with a 1.5 percent loss.

  • Nationwide banking 'back' after apparent IT failure
    Sky News11 days ago

    Nationwide banking 'back' after apparent IT failure

    Nationwide says its online and mobile banking services are back following a technical glitch that lasted for several hours. The building society said it was sorry for "any inconvenience" as customers took to social media to vent their frustrations at the failure. It announced after 11am that its systems were "back to normal" after a flurry of complaints via Twitter (Frankfurt: A1W6XZ - news) .

  • Reuters14 days ago

    European stocks sink on Flynn guilty plea after choppy session

    European stocks, which were recovering from early losses and set to finish the first trading day of December in positive territory, fell suddenly after ex-U.S. national security adviser Michael Flynn pleaded guilty to lying to the FBI. U.S. stocks and the dollar fell as ABC News reported that Flynn was prepared to testify that President Donald Trump directed him to make contact with the Russians. "The old chatter from the summer about President Trump being impeached has surfaced again", David Madden, an analyst at CMC Markets commented.

  • Reuters15 days ago

    UK watchdog says was too slow to probe HBOS audit

    Britain's accounting watchdog said on Thursday it should have been faster to investigate why KPMG gave HBOS's accounts the green light just seven months before the bank had to be rescued by Lloyds during the global financial crisis. The Financial Reporting Council (FRC) said in September it was closing its investigation into the audit, saying it had found that KPMG's work for HBOS "did not fall significantly short of the standards reasonably to be expected". "We should have adopted a more proactive approach to our early enquiry in relation to HBOS rather than a heavy reliance on other regulators," FRC Chief Executive Stephen Haddrill said in a letter to Nicky Morgan, chair of parliament's Treasury Select Committee.

  • Reuters - UK Focus15 days ago

    UK watchdog says was too slow to probe HBOS audit

    Britain's accounting watchdog said on Thursday it should have been faster to investigate why KPMG gave HBOS's accounts the green light just seven months before the bank had to be rescued by Lloyds during the global financial crisis. The Financial Reporting Council (FRC) said in September it was closing its investigation into the audit, saying it had found that KPMG's work for HBOS "did not fall significantly short of the standards reasonably to be expected". "We should have adopted a more proactive approach to our early enquiry in relation to HBOS rather than a heavy reliance on other regulators," FRC Chief Executive Stephen Haddrill said in a letter to Nicky Morgan, chair of parliament's Treasury Select Committee.

  • Lloyds (LYG) to Close Branches in a Step Toward Digitization
    Zacks15 days ago

    Lloyds (LYG) to Close Branches in a Step Toward Digitization

    Branch closure and job cuts will enhance Lloyds' (LYG) operating efficiency as customers have been increasingly using to online methods to process banking transactions.

  • Lloyds Bank settles with couple hit by HBOS fraud
    Reuters16 days ago

    Lloyds Bank settles with couple hit by HBOS fraud

    LONDON (Reuters) - Lloyds Banking Group has a reached a settlement with Paul and Nikki Turner, a couple who helped uncover one of Britain's biggest financial frauds at the Reading branch of the lender's ...

  • Reuters - UK Focus16 days ago

    Lloyds Bank settles with couple hit by HBOS fraud

    Lloyds Banking Group has a reached a settlement with Paul and Nikki Turner, a couple who helped uncover one of Britain's biggest financial frauds at the Reading branch of the lender's HBOS unit, after it destroyed their business. Lloyds and the Turners announced the settlement on Thursday, without disclosing the financial terms. "Lloyds Banking Group is sorry for the significant personal distress the Turners have suffered and acknowledges their vital role, over more than a decade, campaigning tirelessly for justice for all the victims of the criminal conduct at HBOS Reading Impaired Assets Office," the joint statement said.

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