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
*FTSE 100 down 0.4 percent. *US metals firm Alcoa starts earnings on downbeat note. *Smith& Nephew falls on earnings worries.
LONDON, Oct 10- Britain's financial regulator has relaxed capital and liquidity rules on banks in an effort to stimulate lending and boost the economy, lifting bank shares. The Financial Services Authority said on Wednesday the shift in policy was set out in the Bank of England's Financial Policy Committee in September, and banks were aware of the changes.
*FTSE 100 down 0.2 percent, yo-yoing around 5,800. LONDON, Oct 10- Britain's top shares edged lower on Wednesday, tracking falls on Wall Street and in Asia on concerns over the global growth outlook, although gains in heavyweight miners and banks provided a floor under the FTSE 100 index around the 5,800 level. At 0805 GMT, the FTSE 100.
Capital and liquidity rules for the biggest UK banks have been quietly relaxed in an effort to stimulate lending, a move that puts Britain at the forefront of a global experiment to use bank regulation to moderate the economic cycle.
*FTSE 100 down 0.6 percent. LONDON, Oct 10- Global growth worries prodded Britain's top share index lower on Wednesday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems.
Sunday Times GERMAN THREAT TO BLOCK BAE DEAL Germany has threatened to scupper the 28 billion pound merger of BAE Systems and EADS unless the headquarters of the combined company is located in Munich.
LONDON, Oct 7- Part state-owned Lloyds Banking Group is embroiled in a dispute with Britain's financial watchdog over its plans to return cash to shareholders, the Sunday Times reported.
LONDON, Oct 4- British house prices fell unexpectedly in September, figures from mortgage lender Halifax showed on Thursday, as the weak economy weighed on demand. "The generally weak economic climate remains a significant constraint on housing demand," Halifax economist Martin Ellis said.
LONDON, Oct 4- The failure of one Britain's big banks would still wreak market havoc and leave taxpayers on the hook as more needs to be done to curb their complexity and risks, the country's top banking supervisor said on Thursday.
*UBS cuts Lloyds Banking Group PLC to neutral from buy. *UBS cuts Barclays PLC to neutral from buy. Reuters Station users, click. 1580.
Shares in Barclays, Lloyds Banking Group and Royal Bank of Scotland rise as much as 2.5 percent after Liberum Capital upgrades its rating on all three lenders in a note on the UK banking sector, citing reduced tail risks for UK banks leading to lower cost of equity.
*Liberum Capital raises Barclays PLC Lloyds Banking Group. and Royal Bank of Scotland to buy. Reuters Station users, click. 1580.
HSBC is to apologize to US lawmakers for failing to have appropriate controls in place to ensure it did not facilitate the financing of terrorism and other criminal activities, transgressions that analysts estimate may cost it up to $1 billion in fines.The FT reports.
An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
U.S. stock index futures jumped Friday after European leaders unexpectedly agreed to take action to bring down Italy and Spain’s borrowing costs and create a single banking supervisory body.
Bob Diamond, chief executive of Barclays, has “very serious questions” to answer about the growing scandal around attempts to manipulate the London Interbank Offered Rate (Libor), UK Chancellor George Osborne said Thursday.
Top U.S. and European bankers, including JPMorgan Chase’s Jamie Dimon and Citigroup’s Vikram Pandit, have enjoyed double-digit annual pay rises averaging almost 12 percent, despite widespread falls in profits and share prices, FT research shows.
As bonus season in the City of London gets underway in earnest next week the first of the UK’s major banks, Royal Bank of Scotland (RBS), announced the bonus package for its chief executive Stephen Hester on Thursday evening and immediately came in for criticism.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
I had been wondering how on earth European banks were going to be able to raise enough capital to meet new regulatory requirements.