Individual banks buck dreary session as volumes stay thin August 4, 2010 LONDON equities ended flat yesterday as better-than-expected US services and private sector employment figures offset weaker retail shares that fell on concerns of a decline in consumer demand. The choppy session witnessed weaker banks, with the STOXX Europe 600 banking index down 0.4 per cent. Standard Chartered fell 5.2 per cent despite forecast-beating earnings, as [...]
BANK SHARES FALL AS LLOYDS TESTS MARKET October 28, 2009 SHARES in Lloyds and Royal Bank of Scotland fell yesterday on fears that this week’s break-up of Dutch bank ING by European regulators is an example of how UK banks that have accepted state aid will be treated. Meanwhile, chancellor Alistair Darling looks set to give Lloyds the go-ahead to market-test its plan for a [...]
BANK SHARES FALL AS LLOYDS TESTS MARKET October 28, 2009 SHARES in Lloyds and Royal Bank of Scotland fell yesterday on fears that this week’s break-up of Dutch bank ING by European regulators is an example of how UK banks that have accepted state aid will be treated. Meanwhile, chancellor Alistair Darling looks set to give Lloyds the go-ahead to market-test its plan for a [...]
State-owned banks lag their peers February 21, 2010 BANKS were the star performers in the FTSE 100 last week, after Barclays reported its best ever profit of £11.6bn in 2009, an increase of 92 per cent in just 12 months. This week the focus shifts to RBS and Lloyds Banking Group, who will announce earnings on Thursday and Friday respectively. After the turmoil [...]
Goldman sees profits plunge July 20, 2010 GOLDMAN Sachs was yesterday accused of massaging its figures downwards to ease political pressure as it reported an 83 per cent collapse in second quarter net income. In what one observer described as a “well-orchestrated earnings announcement”, Goldman said net income for the three months to June came in at $453m (£297m), or 78 cents [...]
Goldman sees profits plunge July 20, 2010 GOLDMAN Sachs was yesterday accused of massaging its figures downwards to ease political pressure as it reported an 83 per cent collapse in second quarter net income. In what one observer described as a “well-orchestrated earnings announcement”, Goldman said net income for the three months to June came in at $453m (£297m), or 78 cents [...]
Germany’s bonds in EU stress tests July 11, 2010 THE most dramatic stress scenario for tests being applied to European banks envisages write-downs of 2.3 per cent on German government bonds, 20 per cent on Greek sovereign debt and between five and 11 per cent apiece in the case of other periphery Eurozone countries such as Portugal and Italy, reports suggested yesterday. The “shock” [...]
Germany’s bonds in EU stress tests July 11, 2010 THE most dramatic stress scenario for tests being applied to European banks envisages write-downs of 2.3 per cent on German government bonds, 20 per cent on Greek sovereign debt and between five and 11 per cent apiece in the case of other periphery Eurozone countries such as Portugal and Italy, reports suggested yesterday. The “shock” [...]
UKFI slashes director pay by 5 per cent July 26, 2010 DIRECTORS at UKFI, the body set up to manage the taxpayers’ stakes in the banks, have agreed to take a voluntary five per cent pay cut, in a nod to the government’s public sector austerity drive. The pay cut for UKFI’s seven board members amounts to a saving of over £20,000 for the Treasury. Robin [...]
HBOS extends hotel loan January 24, 2010 A CASHFLOW crisis threatening luxury hotel group the Rocco Forte Collection has been averted by a £300m loan extension from HBOS, part of Lloyds Banking Group. The 18-month extension, which pre-empts a long-term solution, follows urgent talks between owner Sir Rocco Forte and the bank, the Times reported. It is understood the hotel group, whose [...]