Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
* Lloyds Q1 profit 1.2 bln stg (consensus: 1.39 bln stg)
* Bank says no decline in credit quality despite Brexit fears
* Core capital climbs after Bank of England boost
LONDON, May 2 (Reuters) - Britain's biggest mortgage lender Lloyds Banking Group has posted robust first quarter profits against a backdrop of cooling house prices and dwindling confidence among its business borrowers.
Lloyds reported an after tax profit of 1.2 billion pounds ($1.57 billion) for the period, slightly below expectations of 1.39 billion pounds according to a company-provided average of analyst forecasts, but up from 1.15 billion pounds the previous year.
The bank reported underlying profit of 2.2 billion pounds, up 8 percent on the previous year and beating expectations of 2.05 billion pounds.
The results follow disappointing first quarter results from Royal Bank of Scotland and Barclays, who blamed their falling margins on intensifying competition in mortgages and slowing business investment due to Brexit uncertainty.
Lloyds said that while continuing uncertainty over Brexit could further impact the economy, it had seen no deterioration in the quality of assets on its loan book and reaffirmed all its financial targets.
The bank's core capital ratio - a key measure of a bank's financial strength - increased three basis points to 14.2 percent quarter-on-quarter.
Lloyds received a boost on Wednesday after regulators at the Bank of England said it could hold a lower capital buffer against future risks, giving Lloyds a further 1 billion pounds of excess capital which analysts speculated could be returned to investors. The bank has been ramping up payouts for shareholders over the past two years as profits have improved and after returning to private ownership in 2017 following a state bailout during the financial crisis. ($1 = 0.7662 pounds) (Reporting by Iain Withers and Lawrence White, editing by Sinead Cruise)