3.0700 +0.06 (1.99%)
Pre-Market: 7:15AM EST
|Bid||3.0500 x 308300|
|Ask||0.0000 x 309400|
|Day's Range||2.9900 - 3.0300|
|52 Week Range||2.3000 - 3.5800|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||10.03|
|Forward Dividend & Yield||0.11 (3.62%)|
|Ex-Dividend Date||Aug 07, 2019|
|1y Target Est||2.61|
Britain's regulators should have a formal role after Brexit to keep the financial sector globally competitive and less prone to "gold-plating" international norms, an industry think tank said on Thursday. The International Regulatory Strategy Group (IRSG) said new thinking and targeted reforms were required after Britain leaves the European Union on Jan. 31.
Britain's Lloyds Banking Group plans to scale down its foreign exchange business by the end of the year, stung by low profitability and rising competition from its rivals, three sources familiar with the matter said. As part of a global strategic review announced in early 2018, Britain's biggest mortgage lender, which is widely seen as a bellwether for the UK economy, announced plans to focus more on its digital offering and the small- and medium-sized sector. About 10 jobs are "at risk", one ex-employee said, noting that Lloyds had already been trimming its foreign exchange team, especially on the corporate sales desk.
The following are the top stories on the business pages of British newspapers. UK PM Boris Johnson will scrap a 30,000 pounds minimum salary threshold for immigrants arriving after Brexit under his plans for an Australian-style points system. Britain's Talktalk Telecom Group Plc has agreed the delayed sale of its fledgling fibre broadband infrastructure business for 200 million pounds ($260.96 million) to Goldman-Sachs backed CityFibre.
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Britain's Lloyds Banking Group suffered an outage on Wednesday that left customers of its Lloyds, Halifax and Bank of Scotland operations unable to access accounts online for several hours. Disruption to online services is a periodic problem for Britain's banks, and last month regulators told lenders they needed to resolve problems more swiftly. Customers of Lloyds Banking Group said on social media that they were unable to use mobile apps or websites to access their accounts since early morning on New Year's Day, a public holiday when bank branches are shut.
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Zacks.com featured highlights include: The Bancorp, CRH Medical, Intellicheck, Luna Innovations and Lloyds Banking
Major U.K. based banks clear the annual stress test and show their ability to withstand severe economic downturn, including disorderly Brexit.
Shares in Lloyds and Royal Bank of Scotland tumbled on Tuesday after failing to impress in the 2019 stress test of Britain's biggest banks, while new capital rules are expected to hit their multi-billion pound investor payout plans. The UK's largest domestic banks both passed the Bank of England's annual assessment of balance sheet strength but plans to double a 100 basis point capital buffer designed to protect lenders in a depressed economy could put both banks' 2020 share buyback plans in jeopardy, analysts said. The BoE said the financial system was sufficiently well capitalized to endure a "no-deal" Brexit but some economists suggested Britain's imminent exit from the European Union could still crimp credit demand and lead to a spike in bad debts.
Stocks in Europe rallied on Friday on relief the Conservatives won the U.K. general election as well as anticipation a U.S.-China trade deal will be announced.
The U.K. election Thursday could give Boris Johnson the ammunition he needs to secure a Brexit deal, sending a basket of undervalued domestic stocks soaring.
Investing.com -- European stocks surged in early trading on Friday on a combination of the U.K. election result, signs of an imminent trade deal between the U.S. and China, and the Federal Reserve's plans to prevent a repeat of the year-end volatility seen in 2018.
Deutsche Bank's (DB) transformation strategy is in line with the bank's plan and as well ahead in various areas as announced at its Investor Deep Dive.
Lloyds Banking Group has been heavily criticised for mishandling a compensation scheme for victims of one of Britain's biggest banking scandals in a report published on Tuesday. The fraud at Halifax Bank of Scotland's Reading branch led to six people being jailed in 2017 for a combined 47 years. The bank's compensation scheme for victims had 'serious shortcomings', retired judge Ross Cranston said in a review.