Analyst of the year September 15, 2013 The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. This category’s nominees all stand out for their impressive foresight in their respective sectors and their revered reputations in the industry. Here is our pick of the analysts truly at the top [...]
Lloyds ready to grow branches as profits return August 1, 2013 LLOYDS Banking Group is preparing to open new branches after years of consolidation and balance sheet repair, the lender said yesterday, in a key indication its turnaround is complete. Its Halifax brand will enter Scotland for the first time this year with new branches in the biggest three cities. And the TSB Bank will be [...]
Coalition launches Lloyds shares sale September 16, 2013 THE RE-PRIVATISATION of Lloyds began last night, a major milestone in the UK’s economic recovery and an important step in unwinding the bailouts of the financial crisis. The government is selling a six per cent stake in the state-backed bank, in a deal worth around £3.3bn. Bankers and lawyers worked overnight to get institutional investors [...]
UK economic recovery heads to regions August 11, 2013 BRITAIN’S economic recovery is continuing to intensify, with a raft of surveys this morning revealing increased optimism, growing consumer spending and growth across the UK. In a remarkable development showing that the rebound is now no longer confined to London and its commuter belt, Lloyds TSB’s regional purchasing managers’ index (PMI) for July implied the [...]
UK economy heats up July 21, 2013 THE UK ECONOMY looks set to finally record robust growth this week, after a bundle of positive indicators from consumers and firms this morning all point to an expanding economy. All five of the latest surveys are positive, continuing a run of steadily strengthening data over the past few months and bolstering hopes that Thursday’s [...]
Why UK recovery could rescue the great British banking sector sell-off September 2, 2013 ROLL up, roll up. Britain’s banks are up for sale. This month and next, the Lloyds privatisation will compete for attention with Barclays’s £5.8bn rights issue. Then there’s the initial public offering triplets: Williams & Glyn, Virgin Money and TSB – all set to hit the market with aplomb. And that’s before RBS has turned [...]
Lloyds share price passes break even point for taxpayer as bank reports swing to profit August 1, 2013 Share prices in Lloyds Banking Group have surpassed what the City regards as the "real" break even point for the taxpayer as the group reports a swing to profit in the first half of the year. This morning, the Lloyds share price passed the 73.6p "real" break-even point, which represents the average price at which [...]
S&P revises Lloyds TSB rating outlook due to profit forecasts November 8, 2012 CREDIT rating agency Standard & Poor’s (S&P) yesterday downgraded its outlook on Lloyds TSB to negative from stable, citing the additional £1bn provision for payment protection insurance (PPI) mis-selling claims which the bank made at last week’s third quarter results. S&P said the additional provision makes it likely that Lloyds will see a pre-tax loss [...]
Remortgages up in January February 24, 2013 A JANUARY climb in remortgages has done little to reverse a steady slide in the market since the onset of the recession, two data releases said this morning. LMS’s remortgage report put lending up 6.2 per cent on December to reach £2.9bn last month. But Lloyds TSB pointed out that total 2012 remortgage activity was [...]
City Moves for 5 February 2013 | Who’s switching jobs February 4, 2013 Linklaters Simon Pritchard has been appointed partner in the law firm’s competition team. He is a former senior director of mergers at the Office of Fair Trading (OFT). Pritchard is also editor of UK Merger Control, and an external adviser to the OFT on international competition network matters. Lloyds TSB Commercial Finance Donald Kerr has [...]