Take-up of the Bank of England's Funding for Lending scheme is still negative, despite billions lent to banks.» Read More
*May Day holiday mutes trading volume in Europe, Asia. Federal Reserve reiterated confidence on its economic outlook despite the slim 0.1 percent growth in U.S. gross domestic product in the first three months of 2014. "Internet is the place to be today," said Michael Matousek, head trader at U.S. Global Investors Inc. in San Antonio, Texas.
*May Day holiday mutes trading volume in Europe, Asia. NEW YORK, May 1- Wall Street stocks edged higher on Thursday, led by a resurgence in Internet shares, while disappointing data on Chinese manufacturing activity knocked oil prices to a three-week low.
*U.S., UK factory data beat forecasts; China PMI misses. *May Day holiday mutes trading volume in Europe, Asia. Equities markets overcame a brief hiccup after data on China's vast manufacturing sector missed forecasts.
U.K. banking group Lloyds has reported a rise in underlying profit for the first quarter of 2014 as the company plans to restart dividend payments.
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 Lloyds loans, one of the sources said.
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.