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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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March 26, 2015
07:18 EDTLYGU.K. lowers stake in Lloyds Banking by 1%, WSJ reports
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March 20, 2015
06:21 EDTLYGLloyds Banking confirms sale of shares to Sabadel
Lloyds Banking notes the announcement by TSB Banking in relation to the agreed terms of the recommended cash offer for TSB Banking by Banco de Sabadell, pursuant to which Sabadell will acquire the entire issued and to be issued share capital of TSB. The Group has agreed to sell a 9.99% interest in TSB to Sabadell, and the Group has entered into an irrevocable undertaking to accept the Offer in respect of its entire remaining 40.01% shareholding in TSB. Under the terms of the Offer, TSB Banking Group plc shareholders will receive 340 pence per share in cash for each TSB share, which values the entire issued share capital of TSB at approximately GBP 1.7B. Reference Link
05:57 EDTLYGLloyds to sell 50% stake in TSB to Sabadell, Financial Times reports
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March 16, 2015
14:08 EDTLYGEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link

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