Lloyds announces more job cuts as part of digital drive
Lloyds and other traditional retail banks have been investing in their online services in response to rising competition from tech-based providers
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LON:LLOY
Lloyds Banking Group has many household names like Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. The Group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. The Group operates the UK’s largest retail bank and has a large and diversified customer base.
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Lloyds and other traditional retail banks have been investing in their online services in response to rising competition from tech-based providers
Aside from the price target changes for Lloyds and Barclays, HSBC analysts reckon market sentiment has shifted from overly optimistic to overly pessimistic
The report was completed back in 2013 and had been circulated among regulators, law enforcement officials and MPs but was never made available to the public
Analysts fear Virgin Money and CYBG could experience an IT crash like TSB in integrating its computer systems
The Swiss bank's analysts noted that Lloyds and Barclays PLC are trading at a 13-17% discount to a sector trading at the highest implied cost of equity since mid-2016
The regulator had been investigating Scottish Widows and five other insurers since March 2016 after conducting a review of their treatment of longstanding customers
The FTSE 100-listed bank said the shares sold, representing approximately 3.3% of Standard Life Aberdeen’s issued ordinary share capital, were sold at a price of 352.5p each
Footsie closed out down around 23 points at 7,681 and was also down on the week as a whole, off around 0.26%
The lender, which was bought in 2015 by Spanish bank Sabadell, had a major IT problem last month affecting its 1.9mln online customers
The UK's index of leading shares finished down around 54 points at 7,686 on Tuesday.
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The 2008 rights issue and bail-out mark a financial concussion from which shareholders have yet to recover.
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The UK blue-chip index had a surge near the close of play and added nearly 57 points
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The state-owned lender is reportedly considering asking for permission to restart dividends after making progress in resolving legacy issues and returning to an annual profit
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Week Ahead also includes full-year results from platinum refiner Johnson Matthey PLC, transport operator Firstgroup PLC, and discount retailer B&M European Value Retail SA
Shareholders of the FTSE 100-listed lender were quick to vent their anger over issues from fraud to the mistreatment of small businesses and the rates it charges "vulnerable" mortgage borrowers, the newswire said
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News that the President will now not be meeting North Korea leader Kim Jong-un next month as planned is weighing on global stocks
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Kingfisher, Tate & Lyle, Talk Talk Telecoms and United Utilities are among the stand-out names in Thursday's schedule.
Terra Firma bought the business – then known as The Garden Centre Group - in March 2012 from Lloyds Banking Group PLC in a deal that valued Britain’s then largest garden centres operator by revenue at £276mln
It's all speculation at the moment and the story in The Times might just be running the idea up the flagpole to see whether anyone salutes it and, if so, with how many fingers
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Aside from the retails, the week ahead includes results from utilities Pennon PLC, Severn Trent PLC, United Utilities PLC, and SSE PLC, plus updates from Ryanair PLC and Britvic PLC, and the latest UK inflation numbers