Six parties in Lloyds talks for branches July 24, 2011 LLOYDS is in talks with six interested parties over the sale of its 632 branches, City A.M. understands, despite only two of them having submitted formal bids so far. However, some of those involved are only interested in chunks of the £68bn in assets on sale, which could prove a headache for regulators who want [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 22, 2011 FINANCIAL TIMES LLOYDS LOOKS TO EASE DISPOSAL Lloyds Banking Group is in early talks with the City regulator about easing the capital burden for prospective buyers of some of its branches in an effort to remove one of the biggest obstacles to the sale. It hopes to pave the way for a bidder to qualify [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 22, 2011 FINANCIAL TIMES LLOYDS LOOKS TO EASE DISPOSAL Lloyds Banking Group is in early talks with the City regulator about easing the capital burden for prospective buyers of some of its branches in an effort to remove one of the biggest obstacles to the sale. It hopes to pave the way for a bidder to qualify [...]
Varde in deal to take Crest Nicholson on August 7, 2011 HOUSING firm Crest Nicholson will be taken over by a US distressed debt specialist within the next few weeks, a source close to the firm confirmed yesterday. Minneapolis-based Varde Partners has been working for months with advisers Lazard and Bingham McCutchen to assess the options for the firm, which became 90 per cent owned by [...]
FTSE commodities drop on fear over Fed announcement September 21, 2011 BRITAIN’S top shares dropped back yesterday, led by weakness in commodity issues as investors nervously awaited the outcome of a US Federal Reserve meeting with expectations for further economic stimulus seen as already discounted. The FTSE 100 closed down 75.30 points, or 1.4 per cent at 5,288.41, retreating after a two per cent bounce on [...]
CITY MOVES | WHO’S SWITCHING JOBS July 25, 2011 Lloyds TSB Commercial Finance The asset-based finance providers has appointed Ian Larkin as managing director, to replace the departing Simon Featherstone. Larkin will head up the business that provides a range of asset based finance facilities and complementary products. He joins from the commercial banking division of Lloyds Banking Group, and was previously managing director [...]
Banking on surprising the markets July 31, 2011 THIS week sees the release of interim figures from a number of UK banks, and few are holding out hope for particularly strong results. A generally weak UK economy that grew an anaemic 0.2 per cent in the second quarter, coupled with concerns about the risk of UK bank exposure to possible European default, have [...]
FTSE in tailspin as recession fears grip markets August 19, 2011 The FTSE 100 continued its downward spiral this morning as banking stocks plunged amid escalating fears that the global economic recovery was being derailed. Investors piled into gold to take it to yet another record price as equities took a hammering across the globe. A raft of grim economic data plus the ongoing eurozone debt [...]
Short selling ban fails to halt volatility in markets August 12, 2011 European stocks failed to rally significantly this morning after a ban on short selling in four pivotal Eurozone nations failed to stem the tide of losses seen over the week. The assault on short sellers, triggered by a collapse in confidence in banks including Societe Generale, had been hastily introduced in an attempt to stop [...]
FTSE crashes to lowest level in 11 months on Euro turmoil August 4, 2011 BRITAIN’S top share index tumbled and closed lower for the fifth consecutive trading day yesterday, depressed by global growth concerns and sovereign debt worries ahead of key US jobs data. Inmarsat shares plunged 19.3 per cent, hitting their lowest level in more than two and a half years after the satellite operator abandoned growth forecasts [...]