Lloyds cuts a further 1,200 jobs July 16, 2009 LLOYDS Banking Group said it is cutting 1,200 jobs in its group operations and insurance business, taking its layoffs to over 8,000 since it bought rival HBOS in January. Lloyds, 43-per cent owned by the government, yesterday announced a net reduction in staff of around 650 permanent roles by the end of March 2010. The [...]
Lloyds makes loss but sees a ray of light August 5, 2009 LLOYDS Banking Group sank to a £4bn pre-tax loss in the first half, due to writedowns on the property loan portfolio it inherited from HBOS, but said that it believed impairments had reached their peak and would decline rapidly. The bank saw impairment rise from £2.5bn in the first half of 2008 to £13.4bn, 80 [...]
Lloyds makes loss but sees a ray of light August 5, 2009 LLOYDS Banking Group sank to a £4bn pre-tax loss in the first half, due to writedowns on the property loan portfolio it inherited from HBOS, but said that it believed impairments had reached their peak and would decline rapidly. The bank saw impairment rise from £2.5bn in the first half of 2008 to £13.4bn, 80 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 3, 2009 FINANCIAL TIMES INTEL SEES WINDOWS OF OPPORTUNITYAn ageing line-up of PCs and the arrival of Windows 7 will cause companies to start spending again on computers next year, according to the head of the world’s largest chipmaker. The comments by Paul Otellini, chief executive of Intel, underscore growing optimism in the technology industry that next year will see a return [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 3, 2009 FINANCIAL TIMES INTEL SEES WINDOWS OF OPPORTUNITYAn ageing line-up of PCs and the arrival of Windows 7 will cause companies to start spending again on computers next year, according to the head of the world’s largest chipmaker. The comments by Paul Otellini, chief executive of Intel, underscore growing optimism in the technology industry that next year will see a return [...]
UFKI to reveal strategy for exit from stakes in RBS and Lloyds July 12, 2009 UK Financial Investments – the body which manages the government’s stakes in recapitalised banks – will unveil its exit strategy for Royal Bank of Scotland (RBS) and Lloyds Banking Group today. John Crompton, UKFI’s head of market investment, will outline its plans to return the stakes to the public sector at a meeting this morning, [...]
Eurasian leads the miners higher while Lloyds shines August 19, 2009 THE FTSE 100 share index inched higher yesterday, helped by oil producers, which gained on firmer crude prices as US demand recovered, but banks fell after HSBC traded ex-dividend. The index closed up by 3.89 points, or 0.1 per cent, at 4,689.67, after trading as low as 4,625.44 earlier in the day. Volumes on the [...]
Insight sold to BNY Mellon August 12, 2009 LLOYDS Banking Group has confirmed that it is to sell its Insight Investment unit to Bank of New York Mellon in a £235m cash-plus-shares deal. The bank, which has been conducting a review of its asset management businesses with an eye to disposals, said it had reached an agreement in principle with BNY Mellon, ending [...]
Insight sold to BNY Mellon August 12, 2009 LLOYDS Banking Group has confirmed that it is to sell its Insight Investment unit to Bank of New York Mellon in a £235m cash-plus-shares deal. The bank, which has been conducting a review of its asset management businesses with an eye to disposals, said it had reached an agreement in principle with BNY Mellon, ending [...]
WAR ON BANKS AFTER BONUS ROW EXPLODES December 3, 2009 POLITICIANS rounded on bankers yesterday amid fears a windfall tax on bank profits is on the cards for the pre-budget report next week. The concerns came as a report from the National Audit Office (NAO), released today, revealed for the first time that the government has spent £117bn bailing out the banks. Lord Myners, the [...]