LLOYDS TO OFFLOAD CUMMINGS’ LEGACY May 25, 2009 Lloyds Banking Group has appointed UBS to advise on the potential sales of its stakes in a slew of household name companies, including David Lloyd Leisure and House of Fraser. Lloyds inherited the stakes from the Integrated Finance unit of HBOS, which was headed up by Peter Cummings (above). but their value has since plummeted.
BEST OF THE BROKERS May 25, 2009 LLOYDS BANKING GROUPExane BNP Paribas upgrades Lloyds Banking Group to “neutral”, saying the shares have fallen too far in reaction to the threat that the European Commission could force it to exit core businesses. But continues to believes the outlook for 2009-10 is “dire” and warns that the impact of higher liquidity and capital ratios [...]
FTSE gains on broad-based rally led by banks and miners July 20, 2009 A BROAD-BASED rally in the stock market saw Britain’s top share index recording gains for a sixth straight day, with banks leading the surge and commodity shares jumping on stronger crude oil and metal prices. The FTSE 100 index ended 54.87 points, or 1.3 per cent, higher at 4,443.62 — the highest close since 11 [...]
Investors urged to back Lloyds October 20, 2009 Shareholders are being urged to back an expected rights issue at Lloyds as the “lesser of two evils”. Paul Mumford, of Cavendish Asset Management, said investors should support the bank in its bid to escape the Asset Protection Scheme. Lloyds is expected to launch a £11bn rights issue in the next few days following a [...]
WHAT GOD COMPLEX? BLANKFEIN IS JUST FEELING A WEE BIT LONELY November 8, 2009 One could feel a bit sorry for Goldman Sach’s chairman and chief executive Lloyd Blankfein. Push aside the fact that he earns more than the GDP of a small country for doing “God’s work”, and life on the 30th floor starts to look very lonely. “People are pissed off, mad and bent out of shape. [...]
CITY MOVES | WHO’S SWITCHING JOBS December 20, 2009 PricewaterhouseCoopers The accountancy firm has appointed Martin Caddick to lead its risk and business continuity management services team. Caddick joins from insurance broking and risk advisory firm Marsh, where he developed a successful business continuity practice and worked with numerous Fortune 500 companies in the UK and overseas. He also previously held director roles at [...]
Falls in mining and energy halt FTSE’s winning streak July 28, 2009 THE FTSE 100’s two-week winning streak finally came to an end yesterday, with the benchmark index closing 1.3 per cent down on the day. The blue chip index had looked set to put in another consecutive day’s gain in earlier trading, but profit taking in mining and energy stocks dragged it lower. The FTSE 100 [...]
Lloyds unveils fresh job cuts June 3, 2009 LLOYDS Banking Group continued its drip-feed of job cut announcements yesterday, revealing 530 fresh redundancies and one site closure. The bank said 210 people would lose their jobs with the closure of a customer service unit in Kent, while 320 more will go in retail banking. The latest round of cuts come just a month [...]
UKFI backs Lloyds ahead of crucial annual meeting June 2, 2009 UK FINANCIAL Investments (UKFI) – the body which manages the government’s 43 per cent stake in Lloyds Banking Group – has confirmed it will not oppose resolutions at Lloyds’ annual meeting on Friday. The bank is likely to face significant shareholder ire over the takeover of HBOS, with some expected to vote against the re-election [...]
WILL DITCHING CHELTENHAM & GLOUCESTER HELP LLOYDS RECOVER? June 9, 2009 ALEX POTTER COLLINS STEWART“Lloyds Banking Group was close to dominating the British high street and I’m sure that’s a concern for European anti-trust authorities, so closing these branches may be a practical move to help with that. It will also help a little with streamlining. There’s a recession on and they need to cut their [...]