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Share Price Information for Lloyds (LLOY)

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Share Price: 54.80
Bid: 54.84
Ask: 54.88
Change: -0.84 (-1.51%)
Spread: 0.04 (0.073%)
Open: 55.66
High: 55.68
Low: 54.52
Prev. Close: 55.64
LLOY Live PriceLast checked at -

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Government accused of influencing Lloyds and Co-op deal

Mon, 25th Nov 2013 09:57

The failed deal between Lloyds Banking Group and the Co-op Bank is under investigation for political interference. The government has been accused of favouring the Co-op Bank in the part sale of Lloyds TSB before the deal eventually fell through. Lord Levene, who headed up a rival bid to buy the branches, said he was told by former Bank of England head Lord King that it was a political decision to back the Co-op's bid to buy 632 Lloyds bank branches which was announced in 2011.Co-op Bank backed away from its offer for the branches in April, citing a difficult economic environment and regulatory hurdles. The bank was later found to have a capital shortfall of £1.5bn.Lord Levene's bank NBNK had hoped to buy the TSB branches to enter the UK market. "Lord King advised me that we would not be the winners in this bid because a political decision had been made to favour the Co-op, and that the only way, at the 11th hour, that we could do this would be to talk directly to the politicians about this. Which we did. And they told us it wasn't true," he told the BBC.Lloyds now plans to float TSB on the London Stock Exchange with an initial sale of a stake between 30% and 50%. The lender will reduce its stake in further tranches over time.The European Commission has ruled that Lloyds must sell TSB following the government's £20bn bailout.The Commission had initially set a November 2013 deadline which was missed due to the aborted sale with the Co-op. Shares in Lloyds were up 0.86% to 75.26p at 10:39 on Monday.RD
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28 Apr 2023 16:14

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26 Apr 2023 14:49

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Veteran banker Win Bischoff dies at 81 - Sky News

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Lloyd's expects insurer settlements on planes stuck in Russia -Irish Independent

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26 Apr 2023 07:16

Wowed by tech, worried by banks

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

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25 Apr 2023 17:40

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21 Apr 2023 20:59

UPDATE: UK's CBI suspends policy and membership activities amid exodus

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21 Apr 2023 17:43

CBI future in doubt as firms pull membership after second allegation

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20 Apr 2023 10:11

UK watchdog to ensure savers benefit from interest rate rises

LONDON, April 20 (Reuters) - Britain's financial watchdog said on Thursday it would use new, tougher consumer protection powers from July 31 to ensure banks pass on increases in interest rates to savers, and further action was not ruled out.

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20 Apr 2023 09:21

British watchdog to ensure savers benefit from interest rate rises

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Britain seeks to boost banking services from fintechs

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17 Apr 2023 10:19

Britain sets out steps to extend 'open banking' services

LONDON, April 17 (Reuters) - Britain's financial regulators said on Monday they will set up a new body to encourage more competition in banking services through the use of third-party apps.

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13 Apr 2023 17:27

London's FTSE 100 gains on healthcare, mining boost; GDP data disappoints

Feb UK GDP flat vs estimates of 0.1% growth

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