The U.K. economy is going to be back to its pre-recession peak this summer, three months earlier than expected.» Read More
Exxon Mobil, the world's largest publicly traded oil company, reports a lower profit that topped expectations, as higher results from its refining arm counters a 7.5 decline in oil and gas output. (EXXON-EARNINGS/ moved, by Anna Driver, 320 words).
BEIJING/ LONDON- Big Asian economies are slowly picking up after a year spent battling against global headwinds, according to business surveys and data released that showed renewed vim from China's factory sector and a rebound in South Korean exports (GLOBAL-ECONOMY/PMIS,, moved, by Lucy Hornby and Se Young Lee, 950 words).
LONDON-- Britain's financial regulator has imposed a fine of 4.2 million pounds on a unit of Lloyds Banking Group for having inaccurate mortgage records for 250,000 customers.
LONDON-- Barclays PLC has set aside another 700 million pounds to compensate customers who bought payment protection insurance which they didn't need. The unscheduled announcement came ahead of the bank's third-quarter earnings report due on Oct. 31.
LONDON, Oct 12- Britain's main financial regulator will decide what activities the country's retail banks are able to carry out under a new reform aimed at shielding taxpayers from having to bail out the industry again.
Morgan Stanley sees Barclays and HSBC as set for encouraging results from the third quarter, rating both "overweight", while it gives Lloyds an "underweight" rating based on a more cautious outlook. However, Morgan Stanley is more cautious heading into Lloyds' results.
TOKYO, Oct 12- Bank of England Deputy Governor Paul Tucker said on Friday that he was confident the central bank's new scheme to boost bank lending would help lower interest rates faced by businesses and households.
*FPC member Jenkins says banks may need more capital* Industry says mixed messages on capital add to uncertainty* Lloyds shares up 4.5 pct, UK bank shares rise.
*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.