JLH.L Share News (JLH)

The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall.A powerful combination of investors as well as business and political leaders are arguing that the superbank should be demerged, on competition grounds and to enhance shareholder value, reports the Telegraph.Meanwhile, Lord Leitch emerged as a strong candidate to succeed Sir Victor Blank as chairman of Lloyds Banking Group yesterday after being elevated to deputy chairman. Already lined up to become senior independent director at Lloyds next month, Lord Leitch has the necessary banking and political experience, having previously headed Zurich Financial Services and acted a government adviser on several subjects, reports the Times.The Government has underestimated the cost of a nationwide rollout of smart meters by as much as £6.4bn, according to Ernst & Young. Last week ministers gave a green light to install 47m new gas and electricity meters, which can monitor energy use in real time, in every household in Britain, reports the Times.Shareholders in Royal Dutch Shell have increased the pressure on the Anglo-Dutch oil and gas group to reconsider its pay policy as a second institutional investor promised to vote against the directors' remuneration report at tomorrow's annual meeting. Co-operative Asset Management, the ethically styled investment division of the Co-op, is the latest to voice its disapproval of Shell's decision to hand share awards to directors who missed key performance targets, reports the Times.AIM-listed Japan Leisure Hotels aims to raise up to £50m to fund an unprecedented buying spree of Japan's "love hotels" ? exotic hostelries that have, for decades, offered convenience and fantasy to couples at a competitive hourly rate, reports the Times.Several executives lined up for senior positions at British financial institutions have withdrawn after the Financial Services Authority questioned their competence for the job. The news is further evidence of the City regulator's increasingly hands-on approach in vetting executives and directors of large banks following the near-collapse of several large lenders, writes the FT.Ian Livingston, the chief executive of BT, could be paid a cash bonus of more than £680,000 this year, despite the loss-making company slashing its dividend and axing a further 15,000 jobs. Livingston could also receive the same amount in shares if he stays at the company for three years, reports the Telegraph.Workers at Qinetiq, the UK defence research company, could be on strike in a matter of weeks, potentially disrupting key military equipment programmes, after discussions with the management over pay broke down last week, reports the FT.Marks & Spencer's board will meet at the company's Paddington headquarters on Monday to decide whether to cut its dividend to shareholders. The high street retailer is widely expected to follow BT by slashing its payout when it announces full-year results on Tuesday, with City analysts arguing it has little option but to cut the payment after six consecutive quarters of sales decline, reports the Telegraph. Primark is expected this week to step up efforts to ensure clothes are sourced more ethically at the discount fashion chain after allegations over its supply network. Paul Lister, company secretary at Associated British Foods which owns the chain, acknowledged the group needed to catch up with some competitors, but said it had taken a number of initiatives to improve Primark's ethical sourcing, reports the FT.The West Bromwich building society yesterday said it had a "long-term future as an independent", adding it had "no knowledge" of reports that the UK regulator was looking to sell it off. Reports emerged at the weekend that the FSA had secretly offered West Brom to potential suitors, and had considered nationalising parts of the loan book. This comes over fears of huge losses on its commercial property loans, reports the Independent.