Lloyds share price falls as government sells off one per cent stake March 9, 2015 Shares in Lloyds Banking Group opened at 80.9p this morning, 0.6 per cent lower, after the government announced it had sold off another one per cent stake in the bank, worth £500m. The sale means the stake owned by UK Financial Investments, the government body formed to manage part-nationalised banks, is now a relatively modest [...]
From Greece and Natalie Bennett to the banks and London’s skyline: Here’s what got us talking this week February 27, 2015 There was a lot of talk about a dress. And quite a bit about the llama drama. But here at City A.M. Towers, we were obsessing about plenty of other things. Greece finally managed to break the stalemate over its debt, negotiating a four month extension with Germany, and ending weeks of debate about a [...]
Lloyds share price edges up as it resumes dividend payments for the first time in six years February 27, 2015 The figures Shares in Lloyds Banking Group edged up just under two per cent this morning, after it announced it will start paying dividends for the first time since the financial crisis began back in 2008. The part state-owned bank reported profits before tax of £1.7bn – significantly up from last year's £415m. Dividend payments [...]
TSB share price edges up as profits double February 25, 2015 The figures TSB shares opened 1.5 per cent higher this morning, after it reported statutory profit before tax of £170m in 2014, over 100 per cent up on the previous year. The group is strongly capitalised with a Common Equity Tier one capital ratio of 19.7 per cent. TSB landed 500,000 new bank accounts over [...]
Bonuses down despite strong year for Britain’s biggest banks February 19, 2015 Payouts for top bankers have taken a tumble so far this year, according to industry data seen by City A.M., as the bonus cap combined with investor and political pressure takes its toll. Preliminary data from pay benchmarking site Emolument.com shows bonuses for front office staff falling precipitously this year compared with last year’s pay [...]
Barclays, HSBC, Standard Chartered, Lloyds and RBS credit ratings slashed as states promise no more bailouts February 3, 2015 Britain’s biggest banks saw their credit ratings chopped back last night by Standard and Poor’s, as the agency believes the government is serious in its promise to let bad banks fail. While ratings are normally cut when a firm performs poorly, in this case the move reflects the shift in risk from the taxpayer and [...]
Lloyds buys Birmingham’s NEC for £307m January 16, 2015 Brummie institution the National Exhibition Centre (NEC) has been sold along with its parent company to LDC, the investment arm of Lloyds Banking Group, in a deal valuing it at £307m. As well as a 125-year lease on the NEC itself, the deal also includes the Genting (formerly known as the LG) Arena and 25-year [...]
GQ includes Lloyds chief Antonio Horta-Osorio and Cheesegrater architect Richard Rogers on 2015 best-dressed businessmen list January 8, 2015 We've always known that suave Portuguese Lloyds chief, Antonio Horta-Osorio was a bit of a looker and a snappy dresser. Well, now we’ve all been proven correct by that bastion of style, men’s glossy GQ – it has voted him as the sixth best-dressed man in business. “He shines among his British peers as the [...]
Lloyds shares sale: Morgan Stanley takes £1 fee for bank sell-off December 17, 2014 The government is to drip-feed Lloyds shares to the market over the coming six months, cutting its stake in the bailed-out bank bit-by-bit ahead of the election. As much as £3bn of shares could be sold under the scheme. The investment bankers who are handling the sale could normally expect to make millions of pounds from [...]
Chancellor George Osborne confirms government will sell more Lloyds shares December 17, 2014 The chancellor has announced the government will sell more shares in Lloyds Banking Group within the next six months. The sale, to be managed by investment bank Morgan Stanley, will help the government raise up to £2bn, UK Financial Investments (UKFI), the body which manages the government's investments, confirmed. Presently it owns around 17.8bn ordinary [...]