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Stock Market & Financial Investment News

News Breaks
June 4, 2014
06:23 EDTLYG, BPLloyds withdraws from finance deal to help BP acquire oil, The Independent says
Lloyds (LYG) has withdrawn from a trade finance deal work between GBP 895M to GBP 1.2B that would involve Russian oil company Rosneft, reports The Independent. Lloyds was among the banks that was a mandated lead arranger on the loan to finance BP's (BP) purchase of crude oila nd refined products from Rosneft. Reference Link
News For LYG;BP From The Last 14 Days
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July 29, 2014
13:18 EDTBPEU to hit Russia with new sanctions, Washington Post says
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07:41 EDTBPBP core business performed well in Q2, says Jefferies
Jefferies says BP's core businesses generally performed well in Q2 and that its view of the stock is unchanged following the quarterly results. It keeps a Buy rating on BP shares with a $55 price target.
05:53 EDTBPBP sees Q3 reported production lower than Q2
BP said, "The end of the Abu Dhabi concession in January 2014 together with divestment impacts, however, meant that reported Upstream production, at 2.1 million barrels of oil equivalent a day (mmboed), was 6% lower. Reported production in the third quarter is expected to be lower due primarily to turnaround and seasonal maintenance activities."
05:52 EDTBPBP reports Q2 EPS $1.18, consensus $1.12
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July 28, 2014
08:41 EDTLYGLloyds confirms settlements totalling GBP218M to resolve LIBOR charges
Lloyds Banking announces that it has reached settlements totalling GBP218M to resolve with U.K. and U.S. federal authorities legacy issues regarding the manipulation several years ago of Group companies' submissions to the British Bankers' Association London Interbank Offered Rate and Sterling Repo Rate. "The Group condemns the actions of the individuals responsible for the conduct in question, which it regards as totally unacceptable and unrepresentative of the cultural changes that the Group has implemented. The actions will be deplored by all employees. The manipulation of submissions covered by the settlements took place between May 2006 and 2009 and the individuals involved have either left the Group, been suspended or are subject to disciplinary proceedings. The Group's Board will now consider all the remuneration implications and potential actions available to it. The issues subject to the settlements were restricted to a specific area of the business and were not known about or condoned by the senior management of the Group at that time. In March 2011, Lloyds Banking Group's management proactively strengthened the systems and controls governing its LIBOR submissions. The Group further supplemented these systems and controls following the publication of the Wheatley Review," Lloyds stated.
08:38 EDTLYGLloyds agrees to settlements with CFTC, DOJ, FCA over LIBOR rigging charges
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06:12 EDTLYGLloyds to probe 15 staff members over Libor rigging accusations, Daily Mail says
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July 27, 2014
16:03 EDTLYGUK's stake in Lloyds Banking may be sold as early as October, Mail Online says
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July 25, 2014
06:40 EDTLYGLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
06:03 EDTLYGLloyds confirms late stage settlement discussions with agencies
Lloyds Banking Group notes the recent media coverage regarding potential settlements with a number of government agencies and their investigations into submissions, communications and procedures around the setting of Interbank Offered Rates and other benchmarks. LBG confirms that it is in late-stage settlement discussions with a number of agencies. The settlements remain to be agreed and LBG expects they will include the payment of penalties. LBG will update the market on these issues as appropriate.
July 24, 2014
15:00 EDTLYGLloyds to announce Libor fines of up to GBP300M next week, FT says
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July 23, 2014
07:58 EDTBPBP management to meet with ISI Group
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06:36 EDTBPEU fails to impose tough sanctions on Russia, NY Times says
EU foreign ministers failed to impose any tough sanctions against Russia during a meeting of the bloc's foreign ministers yesterday, according to The New York Times. Given their dependence on Russia's energy, EU countries have "largely decided" they "have to live with" Russia, the newspaper stated. Significant Russian companies include Gazprom (OGZPY), Lukoil (LUKOY) and Yandex (YNDX), while BP (BP) has a 20% stake in major Russian energy company Rosneft. Reference Link
July 22, 2014
06:29 EDTBPEU weighing new sanctions on Russia, NY Times says
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July 21, 2014
08:16 EDTBPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
11:21 EDTLYGBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
06:33 EDTBPChinese helping Russia blunt sanctions' impact, NY Times says
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July 16, 2014
13:18 EDTBPBP aims to invest $10B in Egypt gas project, Daily News Egypt says
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10:24 EDTLYGHigh option volume stocks:
High option volume stocks: AMSC FTNT LYG TSEM FOXA HCA BKE XON LCI ASML
06:27 EDTBPBP retirement-plan case reintroduced by U.S. court, Reuters says
The 5th U.S. Circuit Court of Appeals in New Orleans brought back a case in which participants in four BP worker retirement savings plans alleged they were tricked into purchasing and holding BP stock before and after the 2010 Deepwater Horizon disaster, according to Reuters, citing comments from BP spokesman Geoff Morrell. Reference Link

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