After the tech sector's brutal selloff and this year's strong run for utility and healthcare stocks, investors are now eyeing a shift into "cyclical" names.» Read More
*Loss includes bank recapitalisation, Somerfield charge. LONDON, April 17- Britain's Co-operative Group made a loss of 2.5 billion pounds in 2013, capping the worst 12 months in the mutual's 150- year history and ramming home the need for radical reform if it is to survive.
LONDON, April 9- Royal Bank of Scotland has agreed to pay 1.5 billion pounds to cancel an arrangement that gives the government priority over dividends, clearing an obstacle to the lender's eventual privatisation.
*FTSE 350 companies seen paying £75.1 bn in dividend, highest since 2008. *Banks to drive increase as Lloyds, Barclays resume payouts. Companies in the FTSE 350 index are expected to pay 75.1 billion pounds in ordinary dividends in the next financial year, up 4.4 percent annually.
LONDON, April 3- Global private equity firm KKR has bought $150 million worth of shipping loans from two European banks amid a surge of interest in the industry as world trade in goods picks up along with the global economy.
BANGALORE, March 27- The European Union's banking reforms will boost interbank business but won't end bailouts of failing lenders, economists polled by Reuters say.
*UK sells 7.8 pct stake in Lloyds Banking Group at 75.5 p/share. LONDON, March 26- The UK government has sold 4.2 billion pounds worth of shares in Lloyds Banking Group to cut its stake in the country's largest retail bank to under 25 percent and putting it on course for a complete exit in the next year.
LONDON, March 21- Britain's government may have damaged its own ambitions to revamp the country's infrastructure using private sector money after new economic policies hobbled a key industry's incentive to invest.
Industry-wide investigations into alleged exchange rate manipulation, trading scandals at UBS, Societe Generale and JPMorgan and HSBC's $1.9 billion fine for lax money-laundering rules have upped the ante for banks already under pressure to curb reckless behaviour that led to the financial crisis.
Banks will face security fees for not updating Windows XP-run automated teller machines as Microsoft withdraws support for the software on April 8.
*Microsoft withdraws support for Windows XP on April 8. LONDON/ NEW YORK, March 14- Banks around the world, consumed with meeting more stringent capital regulations, will miss a deadline to upgrade outdated software for automated teller machines and face additional costs to Microsoft to keep them secure.
LONDON, March 11- British oil company BP said none of its currency traders had engaged in inappropriate trading activity, after a media report alleged one of them had received information from a dealer at Lloyds Banking Group.
LONDON, March 6- Royal Dutch Shell Plc has become the second oil heavyweight to urge Scotland to stay in the United Kingdom, a new setback for the campaign for Scottish independence.
The CEO of Royal Dutch Shell, the U.K.'s largest listed company has become the latest chief executive to wade in on the Scottish independence debate.
*Barclays CEO Jenkins could get 7.2 mln stg. *Barclays says 57 pct of its 1 mln stg club work in U.S. LONDON, March 5- Barclays paid almost 500 staff more than 1 million pounds last year, prompting criticism that pay is still too high and that banks have not changed their ways since the financial crisis.
LONDON, March 3- British manufacturing strengthened last month and mortgage approvals hit their highest level in January since November 2007, data showed on Monday, underlining the momentum behind the country's economic recovery.
*Job cuts include planned Citizens sale, UK branch sales. LONDON, Feb 21- Royal Bank of Scotland is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said on Friday.
*Job cuts include planned Citizens sale, UK branch sales. LONDON, Feb 21- Royal Bank of Scotland is to shrink its investment banking and international operations in a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said.
Royal Bank of Scotland is preparing a dramatic retrenchment that would see it become a much smaller U.K. retail and commercial bank. The FT reports.
Spain will probably begin the privatization of bailed-out Bankia with the sale of a 5 to 10 percent stake to institutional investors.
Malpractice continues in the banking world and "bag eggs" remain, warned Bill Winters, former JPMorgan executive.