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Share Price: 55.78
Bid: 55.82
Ask: 55.84
Change: -0.60 (-1.06%)
Spread: 0.02 (0.036%)
Open: 56.42
High: 56.66
Low: 55.72
Prev. Close: 56.38
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Monday newspaper round-up: Tax cuts, Lloyds, insolvencies

Mon, 25th Jul 2011 06:52

George Osborne has promised to cut "very high" tax rates this autumn to try to head off a row over poor growth figures and warnings from cabinet colleagues that the economy faces the biggest challenges for decades. Kenneth Clarke, the Justice Secretary, warned yesterday that "the [economic] icebergs are probably the worst in the lifetime of anyone now living," the Times reports.The proposed £2.5bn sale of 632 Lloyds Banking Group branches has been thrown into doubt after it emerged that only two formal bids have been filed. The lack of bidders has led advisers to consider plans to demerge the business and float what would become the UK's seventh largest bank, the Daily Telegraph reports.The dire situation facing many UK companies has been laid bare, with a survey finding that 12 per cent more businesses are on the verge of insolvency than just three months ago. The survey, by Begbies Traynor, the restructuring specialist, found that a total of 5,179 companies faced "critical" financial problems in the second quarter of the year, according to the Independent.More than 100 retailers fell into administration in the first half of this year, according to the latest figures to spell out the terrible conditions on the high street. According to Deloitte, a total of 43 retailers - an 8% increase from the same period last year - went into administration in the second quarter of the year, on top of the 60 that failed in the first quarter, the Daily Telegraph says.Tesco is poised to offer customers a free WiFi internet service in its stores, in what is thought to be a first for a British supermarket. The move comes as Britain's biggest retailer seeks to embrace customers' changing shopping habits, but also reinvigorate its domestic business, under new chief executive Philip Clarke, the Financial Times reports.Controversy over City pay is likely to be reignited by a new European directive that would force pay deals over €1m (£880,000) to be disclosed by banks. The requirement, buried in a 700-page document largely concerned with the amount of capital a bank must hold, was likened by pay experts to an idea raised by Sir David Walker, the City grandee who was commissioned to look at corporate governance in banks by the Labour government, the Guardian reports.Lonrho, the pan-African conglomerate, is believed to be closing in on a deal to supply US supermarket giant Wal-Mart with frozen fish. The £230m UK-listed company's seafood division Oceanfresh, which is approved by the Marine Stewardship Council and World Wildlife Fund, will supply hake caught from off the coast of South Africa in a move designed to tap into America's growing demand for sustainable fish, the Daily Express reports.
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19 Jul 2023 14:35

UK earnings, trading statements calendar - next 7 days

Thursday 20 July 
3i Group PLCTrading Statement
AJ Bell PLCTrading Statement
Anglo American PLCTrading Statement
Babcock International Group PLCFull Year Results
BHP Group LtdTrading Statement
Diploma PLCTrading Statement
Dunelm Group PLCFull Year Results
easyJet PLCTrading Statement
Howden Joinery Group PLCHalf Year Results
IG Group Holdings PLCFull Year Results
Intermediate Capital Group PLCTrading Statement
International Distributions Services PLCTrading Statement
Kier Group PLCTrading Statement
PensionBee Group PLCTrading Statement
Pharos Energy PLCTrading Statement
Premier Foods PLCTrading Statement
Premier Miton Group PLCTrading Statement
SSE PLCTrading Statement
Taylor Maritime Investments LtdFull Year Results
Vistry Group PLCTrading Statement
Volution Group PLCTrading Statement
Friday 21 July 
Close Brothers PLCTrading Statement
Glencore PLCTrading Statement
Petershill Partners PLCTrading Statement
Thruvision Group PLCFull Year Results
Monday 24 July 
discoverIE Group PLCTrading Statement
Cranswick PLCTrading Statement
Glantus Holdings PLCTrading Statement
MoneySupermarket.com PLCHalf Year Results
Ryanair Holdings PLCQ1 Results
Science Group PLCHalf Year Results
Shanta Gold LtdTrading Statement
South32 LtdTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 25 July 
City of London Investment Group PLCTrading Statement
Compass Group PLCTrading Statement
Croda International PLCHalf Year Results
Games Workshop Group PLCFull Year Results
Greencore Group PLCTrading Statement
Hummingbird Resources PLCTrading Statement
MITIE Group PLCTrading Statement
Paragon Banking Group PLCTrading Statement
Reach PLCHalf Year Results
Smart Metering Systems PLCTrading Statement
Tristel PLCTrading Statement
Tyman PLCHalf Year Results
Unilever PLCHalf Year Results
Unite Group PLCHalf Year Results
Wednesday 26 July 
Aptitude Software Group PLCHalf Year Results
Breedon Group PLCHalf Year Results
Conduit Holdings LtdHalf Year Results
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
FRP Advisory Group PLCFull Year Results
Gresham Technologies PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Lloyds Banking Group PLCHalf Year Results
Marston's PLCTrading Statement
Nichols PLCHalf Year Results
Primary Health Properties PLCHalf Year Results
Rathbones Group PLCHalf Year Results
Rio Tinto PLCHalf Year Results
Science Group PLCHalf Year Results
Van Elle Holdings PLCFull Year Results
  
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18 Jul 2023 08:59

SSP completes bank refinancing with new GBP300 million four-year loan

(Alliance News) - SSP Group PLC on Tuesday said it has completed the refinancing of its syndicated banking facilities, including a new GBP300 million four-year loan and undrawn GBP300 million revolving credit facility.

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12 Jul 2023 17:14

European shares jump as cooling US inflation boosts rate pause bets

STOXX 600 up for fourth straight session

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12 Jul 2023 12:08

LONDON MARKET MIDDAY: FTSE 100 boosted by banks ahead of US inflation

(Alliance News) - The FTSE 100 in London was lifted by banking stocks heading into Wednesday afternoon, after the Bank of England's latest stress test showed the sector to be "resilient".

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12 Jul 2023 11:04

Bank of England stress test finds top 8 UK banks have enough capital

LONDON, July 12 (Reuters) - Britain's eight largest lenders have enough capital to ride out a worse economic crisis than that seen in 2008, the Bank of England (BoE) said on Wednesday, as the sector faces sharply rising interest rates pummelling consumers and businesses.

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12 Jul 2023 08:45

LONDON MARKET OPEN: FTSE 100 higher as UK banks pass BoE stress tests

(Alliance News) - European markets were trading higher on Wednesday, in a sign of cautious optimism ahead of US inflation data.

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12 Jul 2023 08:39

TOP NEWS: Major UK banks "resilient" in BofE's annual stress test

(Alliance News) - The Bank of England on Wednesday said the major UK banks were "resilient to a severe stress scenario", in its latest cyclical stress test results, with all eight surveyed lenders passing.

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12 Jul 2023 08:26

UK bank shares rise after BoE stress test

MILAN, July 12 (Reuters) - A gauge of British banking stocks surged on Wednesday after the Bank of England said its annual stress test of eight major lenders showed each could cope with rising interest rates in a stressed environment.

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12 Jul 2023 07:21

UK bank pass annual stress tests, says BoE

(Sharecast News) - Eight major UK banks have passed annual capital stress tests and were well positioned to support households and businesses through a period of rising interest rates, the Bank of England said on Wednesday.

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12 Jul 2023 07:15

Stress test shows top 8 UK banks have enough capital, says Bank of England

LONDON, July 12 (Reuters) - The Bank of England said on Wednesday its annual stress test of eight major lenders showed that each could cope with rising interest rates in a stressed environment, and none would need to submit a revised capital plan.

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7 Jul 2023 11:13

British lender OSB shares slide on mortgage hit warning

LONDON, July 7 (Reuters) - British financial services group OSB's shares fell by more than 20% on Friday after it said it would take a net income hit of up to 180 million pounds ($229 million) as mortgage customers switched from higher rate products.

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6 Jul 2023 19:14

Banks recognise savers need help accessing best rates - UK regulator

(Alliance News) - The City regulator said it had held a "constructive" meeting after summoning UK banks to discuss concerns surrounding interest rates for savers lagging behind the cost of mortgages.

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6 Jul 2023 18:45

UK banks must accelerate rate rises for savers, says watchdog

LONDON, July 6 (Reuters) - British regulator the Financial Conduct Authority (FCA) said on Thursday that banks need to accelerate rate rises for savers, but said it was not up to the watchdog to dictate pricing.

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6 Jul 2023 16:41

Banks must provide value to savers, says UK watchdog

LONDON, July 6 (Reuters) - Britain's Financial Conduct Authority said on Thursday that banks need to ensure they are providing value to savers, but said it was not up to the regulator to dictate pricing.

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6 Jul 2023 07:43

LONDON BRIEFING: FTSE 100 to fall as more US rate hikes expected

(Alliance News) - Stocks are called lower in London on Thursday, after hawkish minutes from the US Federal Reserve once again gave rise to interest rate fears.

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