Independence referendum: Lloyds, Standard Life and Clydesdale Bank say they’ll quit Scotland if it votes yes September 10, 2014 Lloyds, Standard Life and the Clydesdale Bank are planning to quit Scotland and move their headquarters to London if voters back independence in next week’s referendum, the firms said yesterday. RBS is also planning to move to the City, Treasury sources said. The contingency plans are aimed at reassuring investors they will be able to continue normal [...]
Scottish independence: Lloyds and RBS to move HQ to London if Scots vote Yes September 10, 2014 Lloyds Banking Group will move its official headquarters out of Scotland if the country votes for independence in next week’s referendum. The banking group which owns Lloyds Bank, Halifax and Bank of Scotland largely operate from its London headquarters, however the bank’s registered offices are in Edinburgh. Lloyds confirmed that its contingency plans in the [...]
Scottish independence: Lloyds’ contingency plans could see move to London if Scots vote yes September 3, 2014 Lloyds’contingency plans if Scots vote for independence could include moving its official offices from Edinburgh to London in order to avoid being classed as a Scottish bank. LATEST: Lloyds confirms move from Scotland to London and RBS to follow The banking group, which owns Lloyds Bank, Halifax and Bank of Scotland, has formed contingency plans [...]
George Osborne accused of obstructing MPs over Co-op and Lloyds Bank deal August 20, 2014 George Osborne was accused of unreasonably withholding information on ministers’ meetings with Lloyds and Co-op bankers in a series of confrontational letters published yesterday. He was accused of obstructing MPs trying to work out whether the government pressured bank executives into their ill-fated deal. The chancellor claims ongoing probes prevent him from telling the Treasury [...]
The government won’t sell Lloyds shares before the next election August 14, 2014 There will be no sale of the taxpayer's Lloyds shares before the next election. George Osborne has indicated that there will be no sale of share to the general public between now and next May, which is unsurprising given the recent performance of Lloyds' shares. The government would deal itself a significant political blow if [...]
Osborne awaits Lloyds share price rise before next stock sell off August 13, 2014 The Treasury is waiting for Lloyds’ share price to jump again before it sells the next tranche of shares in the bank. Lloyds’ share price has fallen by around seven per cent in the past two months, in line with the rest of the sector, putting the brakes on the privatisation of the bailed out [...]
Ex-Lloyds chairman Sir Win Bischoff hired by JP Morgan August 12, 2014 City veteran Sir Win Bischoff was yesterday hired as chairman of JP Morgan Securities, to oversee the giant US bank’s main corporate and investment banking operations in Europe, the Middle East and Africa (EMEA). He takes up the post in January 2015, replacing Tom Hoppe.
Lloyds backs HSBC against red tape choking bankers August 6, 2014 LLOYDS’ chief executive joined the flood of bankers speaking out against the damaging effects of over-regulation, yesterday warning that red tape risked squeezing the life of much of the industry. Antonio Horta Osorio warned that reversing the burden of proof when a problem arose – treating bankers as guilty until they can prove themselves innocent [...]
Lloyds accused of withholding information during HBOS takeover August 6, 2014 Investors have filed a lawsuit against Lloyds Banking Group, which they say withheld important information during its takeover of HSBC in 2008. The claimants, who own a 25 per cent stake in the bank, allege that the true financial health of HBOS was hidden from them during the government-backed takeover at the height of [...]
Lloyds’ share price tumbles as PPI compensation bill smashes through £10bn mark July 31, 2014 Lloyds’ profits were squeezed by new PPI provisions in the first half of the year, the bank reported yesterday. Its underlying profits climbed 32 per cent on the year to £3.8bn as bad loans dropped, and bad loan costs dived 58 per cent to £758m. But another £600m payment protection insurance mis-selling compensation bill – [...]