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Stock Market & Financial Investment News

News Breaks
January 8, 2014
06:12 EDTLYGLloyds Banking inches closer to government stake sale, Guardian says
A sell-off of the U.K. government's 33% stake in Lloyd's Banking has inched closer after U.K. Financial Investments asked management of the bank to draw up the information necessary for a sale, reported the Guardian. Reference Link
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October 24, 2014
08:44 EDTLYGECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded EU 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).
October 22, 2014
13:39 EDTLYGLloyds plans 9,000 job cuts over three years, Mark Kleiman says
Mark Kleiman of Sky News said in a tweet that Lloyds will cut 9,000 jobs over three years, or 10% of its workforce. An announcement is expected next week. Reference Link
October 21, 2014
08:18 EDTLYGBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU 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
October 16, 2014
06:50 EDTLYGEuropean regulator rejects bonus loophole, NY Times says
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October 14, 2014
06:45 EDTLYGData says UK banks paid less than 40% to cover mis-selling, Reuters says
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