|Bid||58.61 x 2429200|
|Ask||58.63 x 2154700|
|Day's Range||58.10 - 58.83|
|52 Week Range||49.51 - 66.79|
|Beta (3Y Monthly)||0.38|
|PE Ratio (TTM)||10.66|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||0.03 (5.13%)|
|1y Target Est||75.37|
I have a mortgage with Tesco. The terms and conditions which underpin your mortgage agreement will remain in place, and that includes the rate of interest you pay if you have a fixed-rate mortgage.
of London Capital & Finance, which sold unregulated “mini-bonds” to retail customers, must not be “kicked into the long grass”. Nicky Morgan, the chair of the select committee to which the Treasury is answerable, expressed dismay that an independent investigation of the scandal will not be concluded for another year. LCF’s collapse has left more than 11,500 bondholders, many of whom were first-time investors or pensioners, wondering if they will ever get their money back.
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.
Lloyds Banking Group chief executive António Horta-Osório has been called before MPs to defend the bank’s pension policies after it was criticised for giving executives substantially higher payments than were available to other staff. Parliament’s work and pensions committee said it had invited Mr Horta-Osório and Stuart Sinclair, chair of Lloyds’ remuneration committee, to give evidence at some point before the summer recess, which starts in July. The bank has been in the spotlight for several months over the size of its executive pension payments.
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.
As he stood outside the West Wing waiting to meet Swiss president Ueli Maurer on Thursday, Mr Trump was asked by a reporter whether the US was going to war with Iran. How can we tell if Google is serious about privacy? The president’s retort followed growing speculation that he was less supportive of engaging Iran than his hawkish advisers.
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.
A whistleblower has heavily criticised the head of the Financial Conduct Authority for failing to investigate her complaints against Lloyds Banking Group, despite his assurances about the seriousness of the case. Sally Masterton wrote last June to FCA chief executive Andrew Bailey — the bookies’ favourite in the race to succeed Mark Carney as Bank of England governor — to protest about her treatment by Lloyds. A one-time employee in its high risk division, she was pushed out of the bank in 2014 after writing an internal report that criticised its handling of a scandal at HBOS, which Lloyds bought in 2009.
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.
Lloyds Banking Group’s chairman defended the lender’s generous pay policies on Thursday, arguing they were essential to hold on to top executives after MPs accused the bank of “boundless greed”. “Not many people would do the arduous hours and arduous tasks they do for free”, Norman Blackwell told Lloyds shareholders in Edinburgh. Earlier this week two parliamentary committees had called on investors to vote against Lloyds’ remuneration report, criticising the size of pension payouts for chief executive António Horta-Osório and incoming finance director William Chalmers.
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.
Britain will keep one penny and two pence coins in circulation, finance minister Philip Hammond announced on Friday, a year after saying they were obsolete and usually hoarded in jam jars or even binned. The ministry estimates that 2.2 million people in Britain rely on cash because they don't have a bank account or for other reasons. Debit cards overtook cash for the first time in 2017 as the most frequently used payment method in Britain, and some outlets no longer accept cash as a form of payment.
Senior lawmakers have questioned whether Britain's highest paid bank CEO, Lloyds boss Antonio Horta-Osorio, is receiving too generous pension and share awards. The heads of Britain's work and pensions and business committees wrote a joint letter to Lloyds querying whether the level of awards were fair. The intervention from lawmakers comes as pay levels for the bosses of Britain's lenders come under renewed scrutiny and ahead of Lloyds' annual general meeting on May 16, when investors will vote on whether to approve the bank's pay policy.
Lloyds Banking Group has given up hope of a profit-boosting rise in interest rates before 2020, Britain's biggest mortgage lender said on Thursday, after surprise one-off costs led it to miss quarterly earnings forecasts despite robust underlying profits. A drop in home loans and a 339 million pounds one-off charge for "volatility" - that included costs linked to a legal dispute with asset manager Standard Life Aberdeen - sent Lloyds shares down more than 2 percent in early trading. Lloyds also reported a further 100 million pound charge to cover administrative costs linked to a fresh surge in requests for information on possible payment protection insurance claims ahead of an August deadline for payouts.
This is lower than a consensus of 1.88 billion pounds compiled by the bank, which said it was due to one-time items including a break fee for moving some wealth funds out of Standard Life Aberdeen after a British tribunal ruled against the bank in March. Lloyds is looking to diversify its revenue streams, particularly in wealth and insurance, while its core loans and savings accounts tread water. Last year it awarded Schroders Plc and BlackRock Inc. a mandate to oversee about 109 billion pounds, aiming “to create a market-leading wealth management proposition.” However, the company on Wednesday flagged break fees to move the funds, contributing to a 339 million-pound charge.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! António de Sousa Horta-Osório became the CEO of Lloyds Banking Group plc (LON:LLOY) in 2011...
The FTSE 100 ended 0.4 percent lower and the more domestically-focused FTSE 250 inched down 0.1 percent. Shell shed 1.4 percent to a month low and BP gave up 2.1 percent, as crude prices weakened after U.S. oil inventories rose more-than-expected with output reaching a new record of 12.3 million barrels per day. As sterling rose to multi-week highs with lingering hopes of progress in cross-party Brexit talks and ahead of Bank of England interest rate meeting on Thursday, exporter companies bore the brunt as much of their revenue is earned in dollars.