Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Lloyds Banking Group said on Tuesday it will float about 25 percent of its TSB business on the London Stock Exchange, with the remainder sold before the end of 2015.
Banking industry sources said last week they expect TSB to be priced at less than its book value of 1.5 billion pounds ($2.53 billion), meaning Lloyds would make a loss on the sale of the 200-year old brand.
Lloyds is required to sell the 631 branches making up TSB because of a European Union requirement that Lloyds creates more competition in the UK market after receiving state aid in the financial crisis.
"TSB has a national network of branches, a strong balance sheet and significant economic protection against legacy issues," Lloyds' chief executive Antonio Horta-Osorio said in a statement.
The offer is expected to take place in June, with the publication of a prospectus mid-June.
Industry sources said last week the pricing of the TSB offer is expected to be at the bottom end of guidance on how much the bank would sell, reflecting a cooling of investor interest in UK company flotations after a flurry of activity earlier in 2014.
The sources said they expect TSB to be priced at less than its book value of 1.5 billion pounds ($2.53 billion), meaning Lloyds would make a loss on the sale of the 200-year old brand.
TSB has 4.5 million high street customers, making it Britain's seventh largest retail banking group by branch network, equivalent to 6 percent of Britain's retail bank branches.
Lloyds said TSB has a core Tier 1 capital adequacy ratio of about 17 percent of its assets, which Lloyds said is the strongest of the major high street UK banks.
The TSB board is aiming to expand the bank's balance sheet by 40 to 50 percent over the next five years and pay an inaugural dividend in respect of the 2017 financial year.
On 31 March 2014 TSB had 23.3 billion pounds of deposits and 19.7 billion of assets.
Follow us on Twitter: