The ties between Britain’s banks and its economy have always been close, but they seem to have become even tighter in the post-banking bailout era.» Read More
LONDON, April 30- Lloyds Banking Group has reached an agreement to sell $500 million of shipping loans from its remaining ship finance portfolio, finance and banking sources familiar with the matter said on Wednesday. Bank of America and U.S. hedge fund Davidson Kempner Capital Management were expected to buy the loans, one of the sources said.
Chief executives in some of Europe's biggest banks saw huge gains in their pay packets in 2013, data compiled exclusively for CNBC reveals.
*Total compensation set to hit 20 bln stg. LONDON, April 28- British banks are unlikely to face hefty fines for mis-selling loan insurance products because the financial industry watchdog is more concerned about how they treat customers as they shell out 20 billion pounds in compensation.
Quitting the EU would cost London its title as the financial services capital of Europe, City heavyweight Win Bischoff warned on Tuesday.
*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.
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.
The returns for convertible bonds or "CoCos" - a hybrid of debt and equity - can be high, but so too can the carnage be that they cause.
*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.
Britain will sell a further 7.5 percent stake in Lloyds Banking Group, worth about 4.2 billion pounds ($6.9 billion).
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.
The U.K. economy is going to be back to its pre-recession peak this summer, three months earlier than expected.
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.