|Bid||58.24 x 2429200|
|Ask||58.24 x 2154700|
|Day's Range||57.24 - 58.41|
|52 Week Range||49.51 - 66.79|
|Beta (3Y Monthly)||0.48|
|PE Ratio (TTM)||10.56|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||0.03 (5.13%)|
|1y Target Est||75.37|
One of Philip Green’s longstanding backers has sold its remaining shares in the group that owns his troubled Arcadia retail business for just £1, company filings reveal. Taveta Investments, the holding company controlled by Sir Philip’s wife Tina, bought back 8m shares, or 7.76 per cent of its equity, according to documents lodged at Companies House. The documents did not reveal the identity of the seller but a spokesperson for Lloyds Banking Group confirmed they belonged to a division of the lender.
PwC has been hit with the second multimillion pound fine in a year for audit work by its Leeds office, prompting the regulator to order a strengthening of special monitoring measures at the regional office. In a ruling on Thursday the accounting watchdog said PwC and two of its partners, Jaskamal Sarai and Arif Ahmad, had shown a “serious lack of competence” in their 2015 and 2016 audits of Redcentric, the Harrogate-based IT services group. PwC has paid a £4.6m fine while the two partners, who could not be reached for comment, were fined £140,000 each.
More than a decade later, banks are growing worried about the party’s latest promise to nationalize utility firms -- a policy that could trigger a fresh set of multibillion pound losses. Lloyds Banking Group Plc, one of the country’s largest business lenders, has multiple exposures to the utility sector through swaps, derivatives and revolving credit facilities, according to people with knowledge of the matter. While Jeremy Corbyn’s Labour has promised to honor the debts of any businesses it takes into public hands, executives at Lloyds have worked on scenarios under which a future government nationalizes the utilities at less than market value, said the people, who asked not to be named.
Britain's banks and building societies will have to charge the same amount for all overdrafts from April 2020, the Financial Conduct Authority (FCA) said on Friday, in a radical change that will raise questions about the future of free in-credit banking. The changes will make overdrafts simpler, fairer and easier to manage, protecting the millions of consumers who use overdrafts, particularly more vulnerable consumers, the watchdog said. "The overdraft market is dysfunctional, causing significant consumer harm," FCA Chief Executive Andrew Bailey said in a statement.
If you want to know who really controls Lloyds Banking Group plc (LON:LLOY), then you'll have to look at the makeup of...
The issue of stress at work has become more prominent in recent years, as people become aware of the physical and mental toll a stressful job can take on someone’s wellbeing, and how it places a strain ...
Regulators are watching a price war in mortgages "like a hawk" and may need to impose stricter minimum capital requirements on lenders, Bank of England Deputy Governor Sam Woods said on Friday. The price war over the past two years may be good news for consumers wanting to buy their first home, but it was less good for a bank or building society concentrated in mortgages, Woods told the Building Societies Association. High loan-to-value ratios and higher loan-to-income home loans can be well captured by the BoE's capital requirements.
Lloyds Banking Group Chief Executive Antonio Horta-Osorio has been asked to explain in parliament the pension contributions paid to the lender's executives. Earlier this month senior lawmakers accused executives at Britain's biggest domestic lender of "boundless greed" for failing to give up generous pension perks that eclipse those offered to its broader workforce. Lloyds said it had received the letter from the committee and will respond in due course.
The FTSE 100 was up 0.3%, while the FTSE 250 rose 0.5%, with builder Galliford Try leading gains after announcing job cuts. After weeks of waiting for significant updates on Brexit, investors welcomed a "new deal" for Britain's departure from the European Union set out by Prime Minister Theresa May, which offered the prospect of a possible second referendum on the agreement.
Britain's Nationwide Building Society reported a 15% fall in profits for the year to April 4, as intense competition in the home lending market and increased spending on digital banking services ate into its margins. The bellwether mortgage lender said its net interest margin - a closely-watched measure of underlying lender profitability - fell to 1.22%, down from 1.31% the previous year and down from 1.26% the prior quarter. Nationwide CEO Joe Garner said that the British economy had slowed but was proving robust, adding that he expected economic activity to pick up once uncertainty about Britain's departure from the European Union was resolved.
Lloyds Banking Group has defended the 6.3 million pound pay package awarded to chief executive Antonio Horta-Osorio, after criticism from politicians and investor trade bodies. Horta-Osorio's pay in 2018 has drawn harsh commentary, with particular focus on the generous pension perks that eclipsed those on offer to Lloyds' broader workforce. Addressing questions at the company's annual general meeting, Lloyds Chairman Norman Blackwell insisted executive awards were "fair" and justified given the bank's turnaround in recent years from the brink of insolvency to becoming one of Europe's most profitable lenders.
Britain's biggest domestic lender Lloyds Banking Group said on Thursday it would pay dividends quarterly from the first quarter of 2020, in a move aimed at distributing income to its 2.4 million shareholders more regularly and efficiently. The new approach will see the lender adopt three equal interim ordinary dividend payments for first three quarters of year followed by, subject to performance, a larger final dividend in the fourth quarter, the bank said in a statement. Lloyds is one of Britain's biggest dividend payers and distributed around 4 billion pounds to investors in 2018.
Senior UK lawmakers have accused executives at Britain's biggest domestic lender Lloyds Banking Group of "boundless greed" for failing to give up generous pension perks that eclipse those on offer to its broader workforce. On the eve of the bank's annual general meeting, the heads of parliament's work and pensions and business committees said attempts by Lloyds to win backing for the policy from employees who also hold the bank's stock "smacks of feverish desperation". "Senior executives at Lloyds could bring this sorry episode to an end, today: just give it up," lawmaker Frank Field said in a statement on Wednesday.
A legal duty for banks to act in the best interests of their customers may be needed, British lawmakers said on Monday, piling pressure on regulators to step up protection of consumers after a string of mis-selling scandals spanning decades. British lenders have paid more than 30 billion pounds since 2007 in redress to customers missold endowment mortgages, pensions and payment protection insurance. Banks and other financial firms are not legally required to put customers' interests ahead of their own.
Momentum is building for independent checks on the capital buffers of banks, a senior accounting executive has said, with Metro and Co-operative banks a reminder of what happens when things go wrong. Following a request from the Bank of England, the ICAEW, a professional accounting body, designed a framework for independent checks on how banks calculate their ratio of capital to risky assets, a closely-watched measure of health. Michael Izza, chief executive of the ICAEW, said the idea of independent checks was gathering momentum.
A retired High Court judge has been appointed to review a compensation scheme set up by Lloyds Banking Group to pay redress to victims of one of Britain's biggest banking scandals. Sir Ross Cranston, who is also a former MP and solicitor general, will assess whether the scheme that has awarded millions of pounds in compensation was conducted fairly. A representative for Cranston said he had been appointed by Lloyds after City minister John Glen called for a review into the scheme in December, after campaigners raised major concerns.