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 [...]
Bottom Line: Don’t get greedy, chancellor – this bank is fixed so sell it now August 1, 2013 IT DID not always look like the taxpayer would make a profit on Lloyds’ bailout – in fact for many years, quite the opposite. Just a year ago the share price was 25p, less than half the 62p breakeven point for the UK’s stake. Now it has tripled, hitting 74p yesterday. Chief executive Antonio Horta-Osorio [...]
Investors Shell shocked after profits fall 60pc August 1, 2013 ROYAL Dutch Shell’s share price plunged yesterday after second-quarter results missed expectations due to rising costs, oil theft in Nigeria and weak US shale liquid production. The oil giant’s profits fell 60 per cent over the quarter to $2.39bn (£1.57bn). Both tranches of Shell shares fell five per cent during the day’s trading, closing around [...]
Analyst Views: Will Shell’s mammoth write down prove to be a long-term issue? August 1, 2013 RICHARD CURR | PRIME MARKETS“Shell is suffering a bit. The huge writedown is the main thing that has unsettled investors, as people did not expect it to be this size. At least they’ve been open about it so now they should be able to draw a line under it. I think a lot of the [...]
Boris could use Ken precedent for MP return August 1, 2013 BORIS Johnson is considering whether Ken Livingstone set a precedent that could allow the Mayor to make an early return to the House of Commons, City A.M. understands. Livingstone spent 13 months as both Mayor of London and MP in 2000-2001, which could make it easier for Johnson to justify a return to parliament at the [...]
Exxon Mobil disappoints August 1, 2013 EXXON Mobil yesterday reported a sharp fall in quarterly profit on lower oil and gas output production and weaker earnings from its refining business. The world’s largest publicly traded oil firm reported profit at $6.9bn (£4.6bn), or $1.55 per share, down 57 per cent from $15.9bn, or $3.41 per share a year earlier.
BAE up on Saudi hope August 1, 2013 SHARES in BAE Systems yesterday climbed to near the top of the FTSE 100, as the defence firm shrugged off a six per cent decrease in half-year earnings by signalling that it is close to sealing a long-awaited Saudi deal. The firm has been embroiled in pricing negotiations with Saudi Arabia over the purchase of [...]
Aggreko remains cautious for year ahead as earnings slide August 1, 2013 FTSE 100-listed temporary power provider Aggreko yesterday posted a two per cent fall in first-half profits to £144m and gave a cautious outlook for the year ahead, causing shares to fall more than five per cent. Underlying revenues rose five per cent to £760m in the six months, below analysts’ forecasts of £775m. Aggreko said [...]
Markets cheer surprise leap in SocGen profits August 1, 2013 INVESTORS surged into Societe Generale stock yesterday sending the share price soaring by 10.4 per cent after the bank’s profits more than doubled in the second quarter. The French lender reported strong trading volumes, falling costs and improving capital buffers for the three-month period. Profits came in at €955m (£833.6m), up 119 per cent on [...]
Recruiter sees the domino effect of bored workers switching jobs August 1, 2013 RECRUITMENT firm Robert Walters has seen an upswing in the jobs market as workers become “bored of recession”, its chief executive said yesterday. “For the first time in a while we’re able to be markedly upbeat, and there’s a degree of optimism returning in a number of markets,” Robert Walters told City A.M. “People get [...]
