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
State-backed bank reports a statutory profit of £415 million ($689 million) for 2013 compared with last year's £606 million loss.
LONDON, Feb 13- State-backed Lloyds Banking Group said it was ready to return to private ownership after reporting a pretax profit for the first time in three years.
LONDON, Feb 13- State-backed Lloyds Banking Group paid 395 million pounds in bonuses last year, up 8 percent on the year before as it returned to profit for the first time since it was rescued by British taxpayers six years ago. Lloyds has more retail banking customers than any other bank in Britain, but needed a 20 billion pound bailout in the financial crisis.
CNBC's Helia Ebrahimi joins the Squawk Box team to comment on Lloyds Bank's results and highlights that the group¿s underlying numbers continue to be impacted by PPI provisions.
NEW YORK, Feb 5- Benjamin Lawsky, New York's financial services superintendent, has opened an investigation into manipulation of the currency markets by large banks and is requesting documents from more than a dozen institutions, according to a source familiar with the matter.
LONDON, Feb 5- The global head of foreign exchange at Citigroup, the world's second largest currency trader, is leaving the bank, according to an internal bank memo seen by Reuters on Wednesday.
LONDON, Feb 3- European stocks edged higher on Monday, led by low-cost airline Ryanair after an upbeat quarterly update, although weak results in the banking sector and ongoing jitters in emerging markets kept a lid on investor appetite.
Lloyds Banking Group has moved closer to repaying the U.K. taxpayer's investment in it after reporting better-than-expected profits for 2013.
Britain's financial watchdog fined State Street U.K. 22.9 million pounds ($38 million) for deliberately overcharging its clients.
U.K. companies' legal liabilities soared 12 percent in 2013, driven by the hefty fines slapped on banks, new analysis shows.
The European Commission has outlined plans to crack down on banks' risky trading activities in an effort to put an end to lenders deemed "too big to fail."
January lived up to its reputation as being the leanest month Tuesday as several of London's major financial institutions announced swinging cutbacks.
John Nelson, chairman at Lloyd's, explains that companies are starting to invest again but that it's still "at a brittle stage" and that political instability could "take us off tracks."
*Labour leader promises to cap banks' market share. LONDON, Jan 17- Britain's biggest banks will be forced to sell off branches to make room for new competitors if the opposition Labour party wins the next election, leader Ed Miliband said on Friday, aiming to create two new banks.
LONDON, Jan 8- British house prices fell unexpectedly last month in their first drop since the start of 2013, easing some pressure on a fast-rising market, but they are likely to rise further in 2014, mortgage lender Halifax said on Wednesday. But Halifax, part of Lloyds Banking Group, said property prices finished the year on a weaker note.
Big-name funds have struggled to make money in 2013, underperforming as stock markets rallied.
LONDON, Dec 23- For hedge funds that made money this year there was only one strategy that really mattered- latching onto the stockmarket rally.
LONDON, Dec 18- After a five-year slump in shipping, investors are betting on better times by taking over shipowners' debts from European banks keen to offload troubled loans to bolster their balance sheets.
The first sale of state-owned shares in Lloyds Banking Group resulted in a £230 million loss for taxpayers. The FT reports.
European equities closed lower on Wednesday after a U.S. budget deal added to expectations the Fed will scale back stimulus soon.