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Lloyds is to sell a portfolio of UK corporate real estate loans to American private-equity firm Cerberus European Investments. The sale, which is part of the bank's continued non-core asset reduction programme, is for a cash consideration of £90m. The gross assets are £147m and are being sold to P
Read moreHSBC has sounded out investors about a flotation of its UK arm, in a move that would realise value from its high street banking business and address regulatory pressures. The bank has in recent weeks asked investors whether they would support the sale of a sizeable stake in the UK business. It has a
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LONDON, Dec 9 (Reuters) - Lloyds Banking Group said on Monday it had agreed to sell a portfolio of British corporate real estate loans to an entity affiliated with Cerberus European Investments for 90 million pounds ($147 million) in cash. The sale, part of the group's push to dispose of no
Read moreBy Steve Slater LONDON, Dec 6 (Reuters) - Britain's banks continue to make slow progress compensating small firms for mis-sold risky interest rate products and have paid out only 81 million pounds ($132 million) from more than 3 billion set aside, official data showed. Britain's Finan
Read moreLONDON, Dec 6 (Reuters) - U.S. private equity firm Apollo has bought a portfolio of Irish home loans from Britain's Lloyds Banking Group for 257 million pounds ($419.4 million), less than half their nominal value. Lloyds, which has lost billions of pounds in Ireland since the financial cri
Read moreUK banking group Lloyds has agreed to sell a portfolio of 'non-performing' Irish retail mortgages to Tanager Limited, part of US-listed firm Apollo Global Management. The portfolio is to be sold for a cash consideration of £257m. The disposal is expected to be complete in the second half of 2014.
Read more* UK announces sharp upgrades to growth forecasts * Says budget deficit will be wiped out by 2018/19 * Labour says Britons not benefiting from better economy By David Milliken and William Schomberg LONDON, Dec 5 (Reuters) - Finance minister George Osborne celebrated a shar
Read moreBy Steve Slater LONDON, Dec 5 (Reuters) - Britain increased the rate of a tax on banks for the sixth time in three years on Thursday as official data showed this has repeatedly failed to raise as much as the government expected. Finance Minister George Osborne said in his Autumn State
Read moreBy Huw Jones LONDON, Dec 5 (Reuters) - The Bank of England wants Britain's banks to be exempted from a European Union health check next year on the grounds that it will be conducting its own rigorous exam. The so-called stress tests are carried out by the EU's banking watchdog the Eur
Read moreLONDON, Dec 5 (Reuters) - For highlights of British finance minister George Osborne's half-yearly budget statement, click on:
Read more* Osborne to present upgraded budget forecasts at 1115 GMT * Government committed to deficit reduction * Living standards lag behind strong rebound in growth By David Milliken LONDON, Dec 5 (Reuters) - British finance minister George Osborne is set to announce a turning po
Read moreShaftesbury, the FTSE 250-listed real estate investment trust, has entered into a new five-year revolving credit facility with Lloyds Bank. The £125m loan replaces the existing one of the same value which was due to expire in April 2016. The weighted average maturity of the group's debt at Novem
Read more* Government on drive to boost private-sector investment * Power stations and transport infrastructure stretched * No commitment yet from insurers to specific projects By David Milliken LONDON, Dec 4 (Reuters) - British insurers plan to invest 25 billion pounds ($41 billio
Read moreJPMorgan Cazenove has trimmed its target price for savings and investment group Old Mutual from 228p to 223p. after adjusting for currency movements. However, the bank maintained its 'overweight' rating on the stock, highlighting attractive and improving returns from its emerging market life busin
Read moreBarclays is the top pick in the UK banking sector, according to Nomura, which retained its 'buy' rating for the stock on Tuesday morning. The broker also kept a positive stance on Standard Chartered, but downgraded its rating for HSBC and reiterated its negative position on RBS. Lloyds, meanwhile,
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