Chris Wheeler, bank analyst at Mediobanca, expects the U.K. Chancellor to outline his plans for the privatization of Lloyds and RBS next week.» Read More
LONDON, June 19- The fate of Britain's two state-controlled banks will become clearer on Wednesday, when finance minister George Osborne is likely to start the clock ticking for the sale of the government's stakes.
LONDON, June 19- Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday.
*Co-op Bank to be listed on London Stock Exchange. LONDON, June 17- Britain's Co-operative Group has agreed a plan to plug a 1.5 billion pound capital hole at its bank which forces bondholders to pay part of the bill, avoiding a repeat of the taxpayer-funded bailouts staged during the financial crisis.
*Standard Chartered's Meddings, Sainsbury's King possible candidates. LONDON, June 13- Royal Bank of Scotland will struggle to recruit a suitable replacement for ousted chief executive Stephen Hester, someone who must steer it through privatisation and accept that political interference comes with the job.
*Manufacturing set to contribute to UK recovery in Q2. LONDON, June 3 (Reuters- A strong rise in new orders helped British manufacturing grow at its fastest pace in over a year last month, a survey showed on Monday, and revised data for April meant UK factories have now had a two-month expansion.
LONDON, May 22- Britain's government should spend more now to fund investment and steer its economy back to recovery, the International Monetary Fund said on Wednesday, a call unlikely to be heeded by finance minister George Osborne.
LONDON, May 22- The International Monetary Fund called on Britain's government on Wednesday to do more to speed up slow economic recovery, hinting that the country might be able to afford to borrow more to fund investment.
LONDON, May 13- Lloyds Banking Group Plc Chairman Win Bischoff is to retire in the next year, handing the reins to a successor who must steer it through a potentially risky multi-billion pound government share sale.
*Anthony Watson to lead search for replacement. LONDON, May 13- Lloyds Banking Group Plc said its chairman Win Bischoff would retire in the next year having overseen the rebuilding of Britain's biggest retail bank following a 2008 government rescue.
*Anthony Watson to lead search for replacement. May 13- Lloyds Banking Group said on Monday its chairman Win Bischoff, who has overseen a major restructuring of the business since it was rescued by the government in 2008, will retire in the next year.
May 13- Win Bischoff is stepping down as chairman of British state-backed Lloyds Banking Group, the Financial Times reported on Sunday, citing sources familiar with the plan, set to be announced ahead of Thursday's annual shareholder meeting.
*Current CFO Van Saun to take helm at U.S. business Citizens. LONDON, May 9- Royal Bank of Scotland's chief executive Stephen Hester has moved two of his key lieutenants into new roles as he prepares for a sale of shares in its U.S. arm Citizens Financial Group.
Now these same funds may be poised to descend on another landscape: struggling cities and counties- and no place beckons more than Detroit.
Investors cheered HSBC first quarter results on Tuesday, but analysts said the bank's profit-beat was misleading, and recommended RBS and Lloyds shares.
Cormac Leech, bank equity researcher at Liberum Capital, says HSBC's results are disappointing and advises switching to Lloyds and RBS.
LONDON, May 3- State-backed Royal Bank of Scotland on Friday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers.
LONDON, May 3- State-backed Royal Bank of Scotland said on Friday the British government might have to take a hit when it starts selling its stake in the bank, which could happen as early as next year. Britain pumped 45.5 billion pounds into RBS to keep it afloat during the 2008 financial crisis, leaving it with an 82 percent stake.
Royal Bank of Scotland is expected to report its first quarterly profit in 18 months on Friday, the fruit of efforts to focus on bread and butter lending.
John Nelson, Lloyd's of London chairman, explains why the insurance sector as a whole is returning to profitability, despite several global catastrophes.
After five long years of deleveraging, the U.K. banking sector finally looks ready to make a comeback, with 2013 set to be a turnaround year.