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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:37 EDTLYGLloyds Banking to cut 645 additional jobs, ITV reports
Lloyds Banking says it plans to cut 645 jobs and close a telephone banking centre in Warington that will account for 180 of the job losses, reports ITV. In a statement by the company, it said "Compulsory redundancies will always be a last resort. In fact, since the strategic review in 2011 around only a third of role reductions have led to people leaving the group through redundancy." Total job losses have added up to 13,500 since it first announced its strategic review in 2011. Reference Link
News For LYG From The Last 14 Days
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December 18, 2014
06:38 EDTLYGU.K. says to reduce stake in Lloyds Banking, NY Times reports
The British government said it would cut its stake in U.K. bank Lloyds Banking (LYG) by gradually selling shares over the next six months, according to The New York Times. The government could begin selling shares soon, although the process may not kick off until 2015, the newspaper stated. Reference Link
December 17, 2014
13:24 EDTLYGMorgan Stanley gets GBP1 fee to sell stake in Lloyds, WSJ says
Morgan Stanley (MS) has landed a prestigious deal and will collect a fee of GBP1 or $1.57 to sell down a potentially large stake in Lloyds Banking Group (LYG), says the Wall Street Journal. Morgan Stanley has until June 30, 2015 to sell what may amount to GBP3B worth of stock, added the Wall Street Journal. Reference Link
09:50 EDTLYGUK Financial Investments announces intent to sell shares in Lloyds Banking
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December 16, 2014
06:56 EDTLYGRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTLYGBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
December 11, 2014
13:40 EDTLYGEuro zone banks accepted $160B in low interest loans, NY Times says
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