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Lti That's a good looking investment

Sorry jamesroo predictive text not kanga

Kangaroo """The world awaits a bear market""" https://www.cnbc.com/2018/10/20/chart-shows-how-everything-has-changed-since-trump-became-president.html

Lloyds Banking Group is drawing up plans to buy back almost £2bn of its own shares in 2019, double this year’s tally, in a sign of the lender’s confidence in its business despite the uncertain economic outlook.  Lloyds’ decision to prepare for a buyback at a time when the Brexit talks are entering a tense final stage suggests it is hopeful that Theresa May, UK prime minister, can secure a deal with the European Union.  Earlier this year, António Horta-Osório, the bank’s chief executive, said he was “strongly convinced that there is a strong possibility of a deal being reached by November”. It is also indicative of Lloyds’ relatively bullish stance on the outlook for the UK if a Brexit deal is reached, Lloyds also sold its Irish mortgage business to Barclays for about £4bn earlier this year, in a move that freed up capital that could be returned to shareholders. Financial Times - 17 minutes ago

Lloyds Banking Group PLC (LON:LLOY) will be the next up when it publishes its third-quarter update on Thursday.

UBS sees an “uneventful set of numbers despite the trees to be felled and ink spilled poring over the figures”.

In the first half, Lloyds took a fresh £460mln provision for its compensation scheme for the payment protection insurance (PPI) mis-selling scandal but pre-tax profit still increased 23% to £3.1bn on the back of higher income and lower costs.

For the third quarter, UBS predicts pre-tax profit of £1.96bn, including remediation costs of £100mln, compared to profit of £2.08bn last year. Lloyds is expected to generate total income of £4.68bn for the period, up from £4.62bn last year

STOCK WATCH: Big bank stocks 'scream cheap' ahead of results - should you take a look at Barclays and Lloyds? Analysts reckon share prices of many big banks could be on the verge of a hefty jump. Ahead of a spate of company results this week, one analyst says bank stocks look 'outrageously cheap'. Ian Gordon, banking analyst at Investec, said Barclays, Lloyds and Royal Bank of Scotland – all of which are set to post third-quarter numbers – were likely to produce 'relatively clean' figures, marginally ahead of the market's expectations. https://www.thisismoney.co.uk/money/investing/article-6298683/STOCK-WATCH-Big-bank-stocks-scream-cheap-ahead-results.html

Banking peer Lloyds will release its third quarter earnings report a day earlier, with analysts expecting bottom line pre-tax profits to drop to £1.7 billion, down from £1.95 billion last year. The bank enjoyed a bumper set of earnings a year earlier, when it took no additional charges to cover payment protection insurance (PPI). Some analysts are now pointing to a PPI provision of around £34 million. PPI claims have ramped up following a Financial Conduct Authority advertising campaign featuring Arnold Schwarzenegger as part of an effort to encourage people to come forward before an August 2019 deadline for final claims. However, Ian Gordon, an analyst at Investec, does not expect Lloyds to book further PPI charges in the third quarter. “Lloyds took an extra £550 million for PPI in H1 2018. We anticipate no top-up in Q3 2018, and we model only a further £500 million through Q4-Q3 2019,” he said. However, he is forecasting some charges around exceptional items, “most likely in relation to our assumptions around restructuring costs and non-PPI conduct issues”. https://www.eveningexpress.co.uk/news/business/rbs-lloyds-and-barclays-to-report-in-bumper-week-for-banks/#r3z-addoor

Banks can handle leaving with no deal, MENU saturday october 20 2018 Banks can handle leaving with no deal, says Carney Katherine Griffiths, Banking Editor October 20 2018, 12:01am, The Times Mark Carney has been criticised by Brexiteers for producing economic forecasts that they believe are too gloomy Mark Carney has been criticised by Brexiteers for producing economic forecasts that they believe are too gloomy REUTERS Share Save Banks could withstand a hard Brexit and tough trade relations after Britain leaves the European Union, according to the governor of the Bank of England. The judgment is part of the Bank’s preparations for Brexit, which include preparing for the consequences of a “disorderly, cliff-edge” event, Mark Carney said yesterday. The Bank does not see the scenario as the most likely outcome in March next year, when Britain formally leaves the EU, but it is still possible. “We aren’t hoping for the best, we’re preparing for the worst in several ways,” Mr Carney said. The governor has been criticised by Brexiteers for producing economic forecasts related to the UK’s withdrawal that they believe are too gloomy. Speaking at The Economic Club of New York, the debating forum, Mr Carney warned again about the risks posed to 16 million customers in Britain and 38 million in Europe whose insurance policies might not be valid after March. About £100 trillion of cross-border derivative contracts may also be disrupted by the loss of the regulatory permissions for clearing houses. The Bank has called on European leaders to give political support to the Continent’s regulators to make contingency plans for contracts to remain valid. So far, the EU has made only “limited progress” in addressing the risks, Mr Carney said. https://www.thetimes.co.uk/article/banks-can-handle-leaving-with-no-deal-says-carney-dv090lwwx

Rumour

I heard the same man down the pub said

U.K. Banks Priced In No-Deal Brexit

Though Citi still thinks a deal is likely at some point, a failure to reach one would hit profits for U.K. domestic lenders by up to 25 percent, analysts wrote in a note. However, the banks’ implied equity risk premiums are already at elevated levels, they said.

“Current valuations are already pricing in a ‘no deal’ outcome to some extent, which could help to moderate some of the share price impact from consensus EPS downgrades,” Citi analysts, including Andrew Coombs, wrote in a note. “Despite subdued industry loan growth, competitive pressures and a credit cycle that looks set to gradually turn, bank earnings have proved remarkably resilient since the referendum.”

https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2018-10-17/citi-says-good-news-is-that-u-k-banks-priced-in-no-deal-brexit

UK Oil & Gas declares Horse Hill’s Portland reservoir “commercially viable”

A development of the Portland would comprise up to three production wells and two pressure support wells
It is envisaged that long-term production operations could begin during 2019. The development – of the Portland and Kimmeridge zones - will require additional planning permission. UKOG said the application is nearing completion, and, submission is anticipated before the end of 2018.

UKOG holds an indirect 46.735% beneficial interest in Horse Hill, via its shareholding in the HHDL vehicle which in turn owns 65% of the asset.

"HHDL's declaration of Portland commercial viability is a significant milestone for the Company,” said UKOG chief executive Stephen Sanderson.

“It transforms Horse Hill from solely exploration into a fully-fledged field development with a full-scale oil production start-up targeted in 2019.”

He added: “The better than expected EWT results have robustly demonstrated that the Portland has significant daily production potential in its own right, which could see the first planned horizontal producer attain sustained oil rates of 720-1,080 bopd.

“If realised, these rates could make the Horse Hill Portland oil field one of the UK onshore's top producers.”

Kimmeridge testing continues
Sanderson also highlighted that the Portland conventional oil field project could be combined with the development of the deeper, unconventional Kimmeridge zones – which are presently on the extended test.

Latest results, released earlier this week, exceeded those seen in the previous tests back in 2016.

The first Kimmeridge test has seen oil flow continuously and naturally from the KL3 zone to surface.

Test flows measured production rates between 563 and 771 barrels of oil per day, before further testing programme resumed with pressure build up, clean-up, flow stabilization, oil sampling.

After that, the programme moves on to test production from the KL4 zone where, in 2016, a rate equivalent to 901 bopd was measured over a four hour period.

Lloyds says technical outlook for Sterling bullish https://www.poundsterlinglive.com/eur/10147-pound-to-euro-exchange-rate-outlook-trapped

Lloyds Banking Group PLC ADR (NYSE:LYG) To Set Up Third European Union Subsidiary In Luxembourg To Serve Insurance Customers
By Neha Rathod - October 18, 2018054


Lloyds Banking Group PLC ADR (NYSE:LYG) is setting up its third European Union subsidiary in Luxembourg with the aim to serve its longstanding customers in the life insurance sector. The bank is taking this step as Britain is now quitting the bloc. Incidentally, Lloyds Banking is the largest mortgage lender of the UK. Right now it is waiting to get a license in the city of Luxembourg so that the company can continue providing service to the customers from the EU-based countries.

Luxembourg is one of the most flourishing insurance communities in Europe. That is why Lloyds is doing every possible effort to ensure that it gets a good standing in its insurance market. The company recently completed initial discussions with Luxembourg’s regulators and further talks will take place in the coming weeks.

Lloyds increase its chances of opening third European Union subsidiary
If the regulators from Luxembourg accept the application Lloyds’ dream of having a third European Union subsidiary will become true. The bank will then have legal bases located in Berlin, Britain, Frankfurt and the Duchy which is of great importance now that the reorganization of the UK-based banks is in the process as the Brexit deadline is coming nearer.

LYG 3.01 (0.00 0.00%)

The bank as of now is not planning to shift the UK-based employees to work in Luxembourg. Instead, Lloyds is planning to employ around a dozen employees who could fulfill the requirements of its Scottish Widows policyholders based in the European Union. These widows hold the closed book policies that insurance companies do not sell anymore.

Edinburg-based British business will continue to serve the Scottish Widows policyholders in bulk. Similar to its subsidiary in Germany, the entity in Luxembourg will require capital. However, the bank is yet to decide the total sum required with the local regulators.

Lloyds issuing new credit cards post-Ticketmaster data breach
Apart from the plans to set up a third European Union subsidiary in Luxembourg, the bank is also issuing new credit cards post-Ticketmaster data breach. Other banks affected due to the breach include Halifax and Bank of Scotland. As per the report, the Ticketmaster data breach compromised details of tens of thousands of customers of these banks.

Lloyds Banking Group

EPS growth is an important number as it indicates the future prospects of Lloyds Banking Group. It is typically displayed as a percentage and called the EPS growth rate, which is 12.50%. Growth in EPS is an important measure of administration performance because it shows how much money Lloyds Banking Group is making for it’s investors or shareholders.

https://reagentsglobalmarket.com/2018/10/17/stock-to-track-lloyds-banking-group-nyse-lyg/

Conflicts leave Lloyds audit heading for Deloitte
October 16, 2018
Sky News has learnt that Lloyds Banking Group‎ is preparing to ask Deloitte to put itself in a position to take on its audit from 2021, with a formal tender process expected to get underway in the coming months.

https://hermannherald.com/conflicts-leave-lloyds-audit-heading-for-deloitte/12096/

£340k penalty for office affair Daily Mail 16 Oct 2018 LLOYD’S of London’s new boss had his pay docked by £340,000 last year for failing to reveal an affair. John Neal – who took charge of the 330-year-old insurance market this week – was criticis. https://www.pressreader.com/uk/daily-mail/20181016/282827897112946 All the lloyds bosses are having affairs and shagging the office secretary this time it's Lloyd's insurance boss. He's been caught out and had 340k pay docked maybe antonio horta osorio should of had his pay or bonuses docked . 5 years ago he got awarded a bonus worth 2.3 million pounds for keeping the share price above 73.6p for 30 consecutive trading days. Today's share price is 57.36 that's a Decrease of -22.07 %

Lloyds Banking Group, chief executive Antonio Horta-Osorio has pocketed £45million in pay, bonuses and incentives since he took the helm in 2011 https://www.thisismoney.co.uk/money/markets/article-6279031/FAT-CATS-NAMED-SHAMED-Two-FTSE-bosses-paid-40m-twelve-10m.html

The boss of a supplier of contract staff to Lloyds Banking Group’s multibillion- pound payment protection insurance compensation scheme paid himself up to £5.8 million last year.

John Turner, 53, chief executive and founder of Regulatory Finance Solutions, is likely to have received pay last year worth just under £1.7 million, topped up this June with a £4.1 million dividend.

Mr Turner is the 100 per cent shareholder of the Swindon-based contract staff supplier, which has a lucrative niche providing short-term employees to work on Lloyds’ PPI redress scheme.

https://www.thetimes.co.uk/article/compensation-work-pays-for-lloyds-supplier-nslrf0sw5

John Turner, the chief executive of the company that supplies contract staff to Lloyds Banking Group PLC’s (LON:LLOY) compensation scheme for payment protection insurance claims, earned £5.8mln last year.

In comparison, the chief executive of Lloyds, Antonio Horta-Osorio, earned £6.4mln in 2017.

Turner, who owns 100% of the firm, was paid the dividend as the company undertook a restructuring that was funded in part by a £11mln loan from Lloyds, accounts filed with Companies House showed.

https://www.proactiveinvestors.co.uk/companies/news/207072/lloyds-helps-pay-for-58mln-earned-by-boss-of-ppi-redress-scheme-staff-supplier-207072.html

BlackRock Gets GBP30 Billion Chunk of Giant Lloyds Mandate -Financial News Envoyer par e-mail 10/12/2018 | 09:48 am By David Ricketts Of Financial News Lloyds Banking Group has handed BlackRock, the world's largest asset manager, a slice of the 109 billion-pound ($144.1 billion) mandate it is in the process of pulling from Standard Life Aberdeen PLC (SLA.LN). The U.K. banking group said Friday that U.S.-based BlackRock will manage GBP30 billion worth of index strategies on behalf of its Scottish Widows division. The transfer will happen once an ongoing legal dispute with Standard Life Aberdeen has completed, or when the existing contract expires in February 2019. Aberdeen Asset Management had previously managed the entirety of the mandate for Scottish Widows, but Lloyds decided to pull the contract following the asset manager's merger with Standard Life in 2017. Lloyds argued that the money couldn't be managed by a rival insurer and deemed Standard Life Aberdeen a competitor. In May, the Scottish investment group said it didn't agree with Lloyds's decision to terminate the contract and began a dispute resolution with the bank that is in process.