Lloyds agrees sale of 632 branches to Co-Op July 19, 2012 Lloyds Banking Group has agreed the sale of 632 branches to the Co-Operative Group, concluding a process aimed at boosting competition in British high-street banking and streamlining its business at the behest of regulators. Lloyds – which is 40 per cent owned by the government – said the Co-Op would pay £350m for the branches [...]
02 compensates customers for signal failure July 18, 2012 Mobile phone operator O2 said it would compensate customers who were left without service for up to 24 hours a week ago when it suffered a major network fault. The company, which is owned by Spain’s Telefonica, is offering contract customers 10 per cent off their July subscription, while pay as you go customers will [...]
Homeserve shares up 13pc despite denial over takeover talks July 18, 2012 HomeServe shares leapt by 13 per cent on Wednesday on speculation that the troubled British repair and insurance group was in takeover talks with private equity firms, despite a denial from the company. The first sign of market optimism for Homeserve since concerns surfaced last year about mis-selling of its policies came after the Daily [...]
FTSE edges up as UK unemployment falls July 18, 2012 The FTSE 100 tracked gains on Wall Street as investors were given hope that the US Federal Reserve could pump in more monetary stimulus. Fed chairman Ben Bernanke will deliver further testimony to the US Congress today, having already indicated that more aid to the economy was possible. Meanwhile UK unemployment dropped by 65,000 in [...]
UK unemployment falls July 18, 2012 The total number of Britons without a job dropped in the March to May period as the Olympics in London created extra work, data showed, providing a rare bit of positive news from the recession-hit British economy. The number of people claiming unemployment benefits, however, rose slightly more than forecast in June, but the Office [...]
Insurer RSA to take £50m hit from rain July 18, 2012 RSA, Britain’s biggest commercial insurer, expects to take a hit of at least £50m from the recent heavy rainfall and flooding in the UK, it said on Wednesday. “Following the wettest June on record in the UK … the net loss across the group’s UK household, motor and commercial property portfolios from last month’s adverse [...]
Credit Suisse boosts capital by $9bn July 18, 2012 Credit Suisse unveiled a string of measures to boost its capital base as it battles to restore investor confidence following damaging criticism from the Swiss central bank. Credit Suisse said it would issue convertible bonds, sell assets and cut more costs, and that immediate steps would add 8.7 billion Swiss francs (£5.68bn) to its capital. [...]
Booker sales slow July 18, 2012 Britain’s biggest cash and carry wholesaler Booker (BOK.L) said it was on course to make profit expectations for the 2012-13 year even though sales growth slowed in its first quarter, dragged back by falling tobacco sales. The firm, which runs over 170 branches supplying convenience stores, restaurants, pubs, schools and prisons, said on Wednesday its [...]
BP in North Sea gas find July 18, 2012 British oil major BP has made a small gas find in the Norwegian Sea, with reserves preliminary estimated at between 1.2 and 2.3 billion cubic metres, the Norwegian Petroleum Directorate said on Wednesday. The wildcat well drilled to a total vertical depth of 2,923 metres below the sea surface proved gas about 20 kilometres north [...]
LSE hits revenue target thanks to FTSE boost July 18, 2012 The London Stock Exchange shrugged off weak trading in its main capital markets business to hit quarterly growth forecasts, driven largely by the addition of the FTSE index unit acquired last year. The British exchange said on Wednesday revenue rose 10 per cent to £209.5m in the three months to end-June, in line with a [...]
