|Bid||3.02 x 309400|
|Ask||3.03 x 42300|
|Day's Range||2.98 - 3.03|
|52 Week Range||2.81 - 4.21|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||10.09|
|Forward Dividend & Yield||0.16 (5.36%)|
|1y Target Est||N/A|
Legendary investors such as Leon Cooperman and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don’t publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That’s why we analyze the […]
A British labour union criticised Lloyds Banking Group (LLOY.L) on Tuesday for cutting 6,000 jobs as part of a reorganisation that the lender said would actually create 2,000 posts overall. "This latest announcement will undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval," said Rob MacGregor, national officer for the Unite union. In a separate statement, Lloyds confirmed it is creating 2,000 net new jobs to help it provide more digital banking products and services.
Lloyds Banking Group confirmed on Tuesday that it would cut more than 6,000 jobs as part of an overhaul but said it would create 8,000 new roles as it moves to digitise its operations. It is understood that Lloyds believes the majority of staff being made redundant will secure new positions. Lloyds has already axed 50,000 staff and closed 500 branches in recent years.
David Brent: Well, there’s good news and bad news. The bad news is some of you will lose your jobs. Those of you who are kept on will have to relocate to Swindon if you wanna stay. I know, I know. Gutting, ...
(Reuters) - Lloyds Banking Group Plc (LLOY.L) will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 ...
Lloyds Banking Group Plc will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 ...
PLC unexpectedly posted the worst results in a stress test of European banks Friday, with a key capital measure dropping close to what investors consider the bare minimum needed to withstand a hypothetical economic crash. The results will amplify investor attention on another round of tests by the Bank of England in December and come as British and European banks attempt to plan for the potential impact of Brexit even as the terms of Britain’s separation from the European Union remain unclear. The capital measure in question, called the common equity tier 1 ratio, dropped as low as 6% at Barclays during the 2018-20 period covered by the test, which featured an adverse scenario that included double-digit unemployment and falling asset prices over the three years.
Britain's Barclays and Lloyds were the surprise laggards in a European Union bank health check on Friday, although none of the 48 lenders tested failed a major capital threshold. The EU's banking watchdog published results on Friday for its toughest "stress test" since 2009, when it began the exercise to identify capital holes and avoid any repeat of the government bailouts triggered by the 2008 financial crisis.
Barclays and Lloyds Banking Group were among the worst performers in the EU’s banking stress tests, in a blow to the British lenders as they struggle to improve their profitability and deal with the potential fallout of Brexit. The results nevertheless found that the region’s top 48 banks had enough capital to withstand the worst-case Brexit scenarios. This included a severe recession that would leave the bloc’s economy 8.3 per cent smaller than it otherwise would have been.
The data show that shares in the four largest UK-listed banks by market capitalisation have suffered during the past 12 months. Brexit-induced jitters have played a part in turning investors off Lloyds, RBS and Barclays, which have the biggest exposure to the fortunes of the UK economy. Meanwhile the threat of a raging trade war between China and the US has dented investor sentiment towards emerging markets, and in turn HSBC, which earned three-quarters of its underlying pre-tax profits from Asia during the first nine months of the year.
The company formed last year by the merger of Aberdeen Asset Management and Standard Life recently lost a 109 billion-pound ($139 billion) investment mandate from Lloyds Banking Group Plc, equivalent to about 18 percent of its assets under management. Like most active managers, the company is being squeezed by shrinking profit margins and is seeing investors flee amid threats from cheaper passive funds.
Lloyds Banking Group (LLOY.L) must amend its pension schemes to equalise benefits for men and women following a court ruling that could cost the bank up to 150 million pounds ($191.97 million) and affect thousands of other companies. In a case closely watched by the government, Judge Paul Morgan ruled that Lloyds' pension trustee had a duty to amend the schemes to equalise treatment after three female members claimed discrimination, with women's pensions increasing at a slower rate than those of men in the schemes. The case affects around 230,000 members of the bank's pension schemes, but union BTU has said it could have implications for as many as 7.8 million people in thousands of other schemes across the country, with the cost of equalising all affected pensions put at up to 20 billion pounds.
PLC to equalize pension benefits for men and women could have implications for thousands of other corporate pension plans, resulting in billions in additional costs. The court on Friday ruled that the British bank’s pension trustee has to amend a defined-benefit pension plan to retroactively increase payouts to address a dispute filed in 2016 by female claimants who pointed out that their pensions were increasing at a lower rate than those of their male counterparts. “The good news is that the issue has been resolved,” Mr. Scholefield said.
Judge Paul Morgan in London ruled that the trustee of the pension plan had a duty to amend the terms of the plan, saying that the issue has created uncertainties “for many years.” While the BTU union had initially estimated that the cost could top 500 million pounds ($640 million), after the ruling both the union and the bank put that figure at closer to 100 million pounds. Three female members of the pension plan had claimed they were discriminated against because their retirement payments increase at a lower rate than male colleagues. “The essential questions raised by this claim are likely to be the same for the very many contracted-out defined benefit occupational pension schemes that provide guaranteed minimum pensions,” Morgan said in a ruling Friday.
Britain's Lloyds Banking Group (LLOY.L) shrugged off fears of a chaotic, no-deal Brexit and pledged to keep pumping credit into the economy regardless of the outcome of negotiations between Brussels and London. The bank's finance chief George Culmer told reporters on Thursday that Lloyds remains hopeful that the two sides can secure a deal before Brexit day in March 2019, when the UK will undergo its biggest policy shift in four decades. Reuters this month reported that the Bank of England had laid out a contingency plan to ensure that banks such as Lloyds, Britain's biggest mortgage lender, do not suddenly slam the brakes on lending in the event of a no-deal Brexit.
Profits fell 7 per cent at Lloyds Banking Group in the three months to 30 September despite total income edging up by 1 per cent. The bank reported pre-tax profit of £1.8bn, beating forecasts of £1.7bn, in the third quarter, while profit for the first nine months of the year rose 10 per cent to £4.9bn. Lloyds chief executive António Horta-Osório said the group had “delivered a strong and sustainable financial performance, with increased profits and returns and continued strong capital build”.
Lloyds Banking Group and Schroders said on Tuesday they had struck a multi-billion pound wealth management deal aimed at changing the way Britons save and invest. Schroders, Britain's second largest listed fund management group by assets under management, and Lloyds, its biggest retail lender, said they would launch a financial planning joint venture after confirming earlier this month they were in talks. "The aim is to become a top three UK financial planning business within five years," said Antonio Lorenzo, director of insurance and wealth at Lloyds and chief executive of its subsidiary Scottish Widows.
Lloyds Banking Group has handed the world's biggest fund manager a £30bn investment contract after axing its deal with Standard Life Aberdeen.