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(In second paragraph corrects to "chairman" from "chief executive") * Bischoff will step down by May 2014 * Anthony Watson to lead search for replacement May 13 (Reuters) - Lloyds Banking Group said on Monday its chairman Win Bischoff, who has overseen a major restructuring of t
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Sir Win Bischoff, the Chairman of Lloyds since September 2009, is expected to announce his resignation ahead of Thursday's shareholder meeting as the bank readies for privatisation, reports The Guardian. The Financial Times says that May 17th is the deadline for a bidding consortium - made of a "tr
Read moreMay 13 (Reuters) - Win Bischoff is stepping down as chairman of British state-backed Lloyds Banking Group, the Financial Times reported on Sunday, citing sources familiar with the plan, set to be announced ahead of Thursday's annual shareholder meeting. With a strong executive team in place
Read moreLONDON, May 10 (Reuters) - Britain's Lloyds Banking Group said it will next week repay the remaining 3.5 billion euros ($4.6 billion) it took under the European Central Bank's long-term funding plan. Lloyds took 13.5 billion euros of cash from the ECB's 3-year long-term refinancing operati
Read moreLloyds Banking Group has agreed to sell its portfolio of UK commercial real estate loans to Promontoria Thames, which is affiliated to Cerberus Global Investments. The portfolio, which generated losses of £47m in 2012, was sold for £325m as part of the group's non-core asset reduction. In a stat
Read moreLONDON, May 10 (Reuters) - Lloyds Banking Group L> has sold a portfolio of soured property loans to U.S. private equity firm Cerberus Global Investments for 325 million pounds ($504 million), as the state-backed bank continues to purge its balance sheet of bad debt. The price tag reflect
Read moreCredit checking giant Experian topped the FTSE Thursday after reporting full-year sales growth across all its global markets, particularly in Latin and North America. In the year to end-March, the company saw revenues from continuing activities rise six per cent to 4.7bn dollars, with earnings befor
Read moreBanking giant Lloyds has announced plans to slash 850 jobs in a bid to lower costs, it was reported Thursday. The bank, which is 39% owned by the UK taxpayer, will make the cuts across a number of its operations, including commerical banking and retail. According to Reuters, Lloyds is making the
Read more* Around 35,000 jobs have gone since 2008 bailout * 2,340 jobs have been cut so far this year * Union says cuts bad for UK economy By Matt Scuffham LONDON, May 9 (Reuters) - State-backed Lloyds Banking Group is cutting another 850 jobs to reduce costs, bringing the total
Read more(Corrects to state Lloyds 39 pct owned by taxpayer, not 81 pct) LONDON, May 9 (Reuters) - State-backed Lloyds Banking Group said on Thursday it would cut 850 jobs in commercial banking, retail, and other operations as part of plans to reduce costs. Lloyds, 39 percent owned by the Bri
Read more* CEO Justin King sees "a few more years" at Sainsbury's * 2012-13 underlying pretax profit 756 mln stg, up 6.2 pct * Dividend 16.7 pence, up 3.7 pct * Sees no change in UK economic outlook * Sees 2013/14 like-for-like sales up 1-1.5 pct * Shares down 4 pct By
Read moreStandard Chartered falls 4.8 percent to the bottom of a flat FTSE 100 index as the Asia-focused bank reports an operating profit fall in its consumer and wholesale businesses, casting a shadow on its full-year (FY) performance. "STAN's management indicated that they remain comfortable with
Read more* Sainsbury in talks to buy out Lloyds' 50 pct stake * Deal would give Sainsbury full control of bank * Retailers looking to take on UK's unpopular banks * Lawmakers keen to encourage competition in industry (Recasts, adds detail, background) By James Davey and Matt Scuf
Read more* Employers feeling "cautiously optimistic" * Applicant numbers fall as bonuses shrink LONDON, May 7 (Reuters) - Jobs available in London's financial district jumped by almost one fifth in April as employers took heart from strong results at banks and some confidence returned after th
Read moreMay 7 (Reuters) - (The following statement was released by the rating agency) UK banks' use of funding from US prime money market funds (MMF) has continued to decline in early 2013, consistent with their ongoing efforts to reduce reliance on wholesale funding, Fitch Ratings says. Overall,
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