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Lloyds "attractively valued" says UBS even after cutting targets
After disappointing third-quarter results and amid a tougher income outlook, UBS cut its earnings per share forecasts 2-5% for the next few years
Company
Lloyds Banking Group PLC
LON:LLOY
Lloyds Banking Group has many household names like Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. The Group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. The Group operates the UK’s largest retail bank and has a large and diversified customer base.
1365 stories · page 8 of 14
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Lloyds Banking profits crash 97% in third quarter after PPI hit
The lender's underlying profits were also lower, down 12% to £1.82bn as income fell
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Lloyds' PPI charge may scare the horses on Halloween, BT bounce-back eyed
The black horse-branded bank last month suspended its share buyback as it warned of likely £1.2bn-£1.8bn PPI compensation costs due to a spike in complaints
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Lloyds and HSBC continue Big Four banks results, with oil majors also on the corporate agenda
Away from the corporate numbers, the latest Federal Reserve rate decision and US jobs data are also due in the coming week
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Lloyds shares “less attractive” due to earnings risks, Citigroup says
“Previously the lowly valuation compensated investors for earnings risks, as well as the economic & political uncertainty, but post the recent bounce we believe the risk/reward is no longer as attractive”
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Lloyds and other banks surge on Brexit deal hopes
The chances of reaching a deal before 31 October are still fairly low, according to analysts
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Lloyds suspends share buybacks after surge in PPI claims result in further hit of up to £1.8bn
Lloyds warned that the unprecedented level of PPI claims means it will miss its capital build target of 170 to 200 basis points per year in 2019.
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Lloyds Banking, Barclays and HSBC 'increasingly likely' to unveil more PPI costs soon
Warnings from CYBG and RBS lead analysts to predict more provision for payment protection insurance misselling in run-up to last month's deadline
Lloyds to buy Tesco Bank's mortgage portfolio for £3.8bn
Lloyds said the deal was consistent with its strategy and would be “value accretive” to shareholders.
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HSBC to cap off earnings season for UK's big-four banks
The week ahead includes interim results from HSBC, Standard Life Aberdeen and William Hill along with UK economic growth data
Lloyds sets aside further £550mln for PPI claims in second quarter
Lloyds said it now expects capital build to be at the lower end of its guidance range in 2019
Investments and investor services
FTSE 100 closes in the red as traders await first US rate cut since recession
Investors are expecting a cut of 0.25% in the benchmark short-term rate
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Lloyds to post weaker profits as PPI claims deadline looms
The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
Investments and investor services
FTSE 100 closes lower but BP top gainer after Q2 results beat expectations
The FTSE 100 index closed 39.84 points lower on the day at 7,646, while the midcap FTSE 250 index plunged almost 112 points to close at 19,774
Investments and investor services
FTSE 100 romps to higher close as Just Eat delivers 22% share gain
Just Eat is poised to combine with Dutch rival Takeaway.com to form one of the world's largest food delivery firms
Standard Life Aberdeen confirms Lloyds Bank to pay £140mln to settle fund dispute
The bank cancelled the £104bn contract when Standard Life and Aberdeen merged
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Lloyds Banking and Standard Life Aberdeen agree £140mln settlement of fund dispute
Terms of the settlement are still to be finalised according to the reports but are said to include provision for SLA to manage £30bn of funds for Lloyds until 2022
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Lloyds Banking hit by JPMorgan downgrade due to 'rising chances' of no-deal Brexit
JPMorgan analysts downgraded their rating on Lloyds to ‘neutral’ and cut the share price target
Lloyds offers cheapest mortgage rates in UK banking, Jefferies survey reveals
Jefferies said RBS is its top pick among UK-focused banks
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Lloyds freezes 8,000 offshore customer accounts amid regulatory clampdown on money laundering
Global banks have come under increasing pressure to meet tighter rules on financial crime
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Lloyds fined £45.5mln by FCA for failing to disclose HBOS fraud suspicions
Lloyds chief executive, António Horta-Osório, said the bank takes the enforcement notice "very seriously"
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CYBG upgraded by RBC after unveiling plan to rename itself Virgin Money
RBC raised its recommendation on CYBG to ‘outperform’ from ‘sector perform’ and maintained its target price at 250p.
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Lloyds offers consistent dividend yield, says RBC as it keeps 'outperform' rating
RBC has cut target prices on Lloyds, Barclays and RBS
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Lloyds’ head of pay defends chief executive’s renumeration package before MPs: media report
"When I go out to see people who are on £22,000, £30,000, £40,000, they see Antonio as a winner, because he brought this bank back from the brink,” Stuart Sinclair told MPs
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Lloyds and banking rivals 'going nowhere' amid new pressures on revenue and margins
Adding to mortgage market competition, analysts now expect pressure on deposit pricing and declining contributions from structural hedges
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Lloyds remains Morgan Stanley's top pick of UK banks
Morgan Stanley left its recommendation on Lloyds at ‘overweight’ but lowered its target price on the shares to 70p from 78p
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Davy Research upgrades Lloyds to ‘outperform’, says preferred play in UK banking sector
The Irish broker also raised its target price for the FTSE 100-listed firm to 71p from 70p, citing strong capital return and a more resilient earnings forecast
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Lloyds bosses summoned by MPs to explain 'greedy' pensions policy
“Setting CEO pay becomes an expensive version of whack-a-mole where pay committees, for appearance-sake at least, hammer down on one element, such as base salary, only to allow other parts, such as pension entitlement, to pop up to reward t
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BofA Merrill Lynch expects Lloyds to see £2.0bn revenue headwind from competition in mortgage market
Analysts at the US bank pointed out that at £9.6bn of gross mortgage lending in the first quarter of 2019, Nationwide's 14.5% share of the market was "well ahead" of Lloyds's at 13.1%
Tesco Bank and Nationwide highlight impact of competitive pressures on wider banking sector
First-quarter results from Lloyds, Barclays, Royal Bank of Scotland and HSBC all revealed a drop in net interest margins - a key profit measure for banks.
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Lloyds to employ 500 staff for new digital hub in Edinburgh
The hub will develop new technology for Bank of Scotland, Lloyds Bank, Halifax and Scottish Widows customers
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Lloyds to start paying quarterly dividends from 2020 as shareholders approve pension policy
Lloyds shareholders approved the bank's remuneration policy at the AGM despite calls from MPs to vote against it due to the gap between pensions paid to executives and employees.
Investments and investor services
FTSE 100 closes firmly higher as Wall Street shares head north; sterling slides
The UK benchmark index closed over 56 points higher, at 7,353, aided by the fall in the pound
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MPs urge Lloyds shareholders to vote against pay policy at Thursday’s AGM
MPs have voiced their frustration at Lloyds, which makes a hefty contribution to the pension of senior executives, but doesn’t offer those same perks to other staff
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Burberry and Thomas Cook in the spotlight; ex-divs to take 26 points off the FTSE 100
Numbers from Countryside Properties, National Grid, and Wincanton will also be among Thursday's highlights.
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Shares in Clydesdale owner CYBG seriously undervalued, says analyst after interim figures
The bank's shares, up 9% initially, settled at 195.9p, ahead 2.4%
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Investor rebellions in store for Lloyds, Metro Bank and G4S meetings
Ahead of Metro Bank's AGM, American founder Vernon Hill urged investors to “meet with the directors and express your views by attending, raising questions and voting”
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Metro Bank, the sector's lightning rod, escapes the bolts ... for now
After another short-seller squeeze yesterday, shares in Metro Bank have opened little changed today but more trouble could be coming down the turnpike, with shareholder advisory groups exhorting investors to make their feelings known at the
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UK’s top 40 companies gain momentum at start of 2019 as profits sink for the rest
Higher earnings from blue-chip firms such as Lloyds and HSBC helped send overall profits for the UK's largest firms 11% higher in the first quarter, while the rest of the corporates saw theirs tumble 18%
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'Cash cow' Lloyds seen climbing the bank dividend rankings
Analysts at UBS think regulatory changes this week increase Lloyds’ capacity for a special dividend payout this year by £1bn
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Lloyds posts flat profit as it takes hit for ending Standard Life Aberdeen contract early
Lloyds maintained its financial targets for the year and said it remained confident on the outlook despite Brexit uncertainty
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FTSE 100 closes in the red after BoE keeps interest rates on hold
The UK blue-chip index finished down nearly 34 at 7,351, while its mid-cap cousin FTSE 250 lost over 127 points
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Bank of England rates decision to take macro spotlight on ‘Super Thursday’
On the corporate front there will be another big batch of blue-chip updates to digest, notably from oil major Shell and banking giant Lloyds
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Lloyds gets more room for dividends as regulator loosens risk buffer
Prudential Regulation Authority cuts lender's systemic risk buffer, allowing bank to lower its capital ratio target
FTSE 100 closes higher after US inflation data
It comes after latest data showed that core inflation in the US was flat last month (March) while consumer spending rose
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Barclays, Lloyds and RBS to report first-quarter earnings with margins, costs and bad loans in focus
Lloyds seems to be doing the best job of countering headwinds facing the sector, according to AJ Bell investment director Russ Mould
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Standard Life Aberdeen needs to cut costs after losing deal with Lloyds, says Barclays
Barclays downgraded its stance on Standard Life Aberdeen to ‘equal weight’ from ‘overweight’ and removed it as a "top pick"
Investments and investor services
FTSE 100 closes in positive territory, boosted by better-than-expected US March jobs figures as Brexit uncertainty continues
Mid-cap cousin FTSE 250 was also lower, shedding around 56 points at 19,507
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Lloyds and other ex-dividends to knock 11 points off FTSE 100 on quiet Thursday in the City
Away from the ex-divs, Saga, Electrocomponents and EntertainmentOne are all due to come to the market with trading updates or results
AA wins contract with Admiral after deals with Lloyds, Volkswagen and others boost revenues
AA said it is confident that its strategic plan will deliver “sustainable EBITDA growth” and “strong free cash flow generation”
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US jobs to provide main focus, though UK PMIs still key as Brexit SNAFU continues
Aside from the UK and US data - and Brexit - corporate news in the week ahead will include updates from blue-chip budget airline easyjet and Ladbrokes Coral owner GVC Holdings
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Barclays upgrades Virgin Money owner CYBG to 'equal weight' but still prefers Lloyds and RBS
Barclays also initiated coverage of Metro Bank at ‘underweight’
Henry Boot expects 'challenging' year for the UK property sector as Brexit looms
Henry Boot said the new year has “started well” and its expectations for 2019 remain unchanged despite Brexit uncertainty
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Lloyds in hot water as CEO the only employee to receive final salary pension
Lloyds faces a backlash from shareholders over its pension policy at the annual meeting on May 16
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Lloyds not entitled to end £100bn asset management deal with Standard Life Aberdeen, tribunal rules
Standard Life Aberdeen said it is considering its next steps and is "working constructively with Lloyds to bring the matter to resolution"
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Spring Statement to dominate on Wednesday amid fallout from Brexit deal vote
While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
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RBS teams up with Visa, Mastercard and Gemalto to trial biometric bank card
The biometric card RBS is developing would mean customers would not need to use a pin code to verify transactions over the £30 limit currently set on contactless payments
OneSavings Bank and Charter Court Financial Services confirm £1.6bn merger talks
OneSavingsBank and Charter Court Financial Services said a merger would create a specialised mortgage lender with greater scale and resources to take advantage of growth opportunities
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Schroders' 2018 profits fall as assets under management, fee income drop, impacted by weaker markets
For the year ended December 31, the FTSE 100-listed fund manager reported a 5% fall in pre-tax profit before exceptional items to £761.2mln, down from £800.3mln a year earlier
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Lloyds commences share buyback programme to acquire up to £1.75bn worth of stock for cancellation
The FTSE 100-listed lender said it has appointed with Morgan Stanley and UBS as joint brokers to conduct the share buyback programme on its behalf
As M&S and ITV unveil tie-in deals, is the plug-and-play/consolidation model becoming the default catch-up method for digital?
With M&S choosing to anchor itself to online grocer Ocado and ITV and the BBC pooling their efforts in online streaming, have tie-ins and consolidation become the best strategy to ward off the surge in digital competition?
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PPI provisions refuse to die for Lloyds, but cash returns make up for profit disappointment
The FTSE 100-listed lender set aside another £200mln in the fourth-quarter for PPI claims, having not made any further provisions in the third-quarter
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Barclays to round off trio of UK banking results on Thursday
Barclays will be a highlight in Thursday's schedule.
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Lloyds sees 2018 profits miss forecasts after a weak fourth-quarter but still hikes dividend, launches share buyback
The FTSE 100-listed bank reported statutory profit after tax of £4.4bn for the year to 31 December 2018, below the consensus estimate of £4.6bn but up 24% on 2017’s £3.5bn
FTSE 100 closes higher as markets more optimistic on US, China trade
BIg banking group Lloyds was among the top gainers on Footsie
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Lloyds to report 2018 numbers on Wednesday as bank results cycle grinds on
The black horse will be tasking the middle spot between HSBC and Barclays, with investors on the lookout for any news on cost-cutting and dividends
FairFX gains “significant endorsement” as it is granted access to Bank of England settlement accounts
The firm said access to the Real Time Gross Settlement accounts would now allow it to process payments made through its platforms in real-time as well as other benefits like instant transfers
Investments and investor services
FTSE 100 closes in red amid lower volumes but Reckitt Benckiser jumps
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
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Banking results to flow faster, with Barclays, Lloyds, and HSBC all set to report 2018 numbers
Aside from the banking results, the week ahead will bring updates from other blue-chips firms such as BAE Systems, Anglo American, Pearson, and Reckitt Benckiser
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Lloyds appoints Morgan Stanley banker William Chalmers as its chief financial officer
Chalmers joined Morgan Stanley in 2000, after six years at JP Morgan, and was promoted to managing director of the Global Financial Institutions Group in 2003
Investments and investor services
FTSE 100 joins global benchmarks to head higher on Friday on trade deal hopes
Britain's blue chip index closed up around 39, or 0.55% at 7,236 on the day
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Lloyds has to apologise to customers again after IT glitch affects online banking service
The group said the issues only affected Lloyds' customers, rather than the group’s Halifax and Bank of Scotland brands, and had not affected mobile logins
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FTSE 100 closes higher as investors buoyed by trade talk optimism
The UK's premier share index added almost 58 points at 7,129, while the FTSE 250 also gained ground
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Lloyds Banking renews contract with the AA
The AA will adapt its breakdown app, with bespoke functionality for Lloyds packaged bank account customers, providing them with the ability to report and track their breakdown digitally on their phones or tablets
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TSB slumps to annual loss after spending £330mln on IT meltdown
TSB executives will forgo their bonuses for 2018 in what the bank described as its "most challenging year"
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Lloyds to cut a further 292 jobs across several offices as part of its ongoing cost-cutting, says union
Unite said the redundancies will come at a number of the bank’s divisions and departments including sites in Fareham, Birmingham, London, Halifax and Chester
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Lloyds' offers 100% mortgages to first-time buyers but the catch is ‘Bank of Mum & Dad’ backing needed
The lender will only grant the 100% mortgage if the family member of the purchaser puts a sum equal to 10% of the value of the property into a Lloyds savings account
Santander to close a fifth of UK branches as more customers choose online banking
Santander will close 140 branches, leading to about 840 redundancies
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Metro Bank shares slump as 2018 profits miss expectations
Chief executive Craig Donaldson said 2018 was another strong year of growth for Metro Bank
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Lloyds and RBS drive FTSE 350 dividends to another record year, but is this trend sustainable?
High yields are often viewed as a warning that a company’s dividend is too high to maintain, but a new study thinks the issue lies with the value of unloved UK stocks and not their pay-outs
Lloyds added to JPMorgan Cazenove’s European Best Equity Ideas Overweight List
JPMorgan's European Best Equity Ideas list summarises the bank’s EMEA Equity research team’s views and top picks, covering both strategy and sector contributions
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Lloyds slammed by Labour MP for “gaming the system” on overdraft charges
Rachel Reeves, the MP for Leeds West, said it was “unacceptable” for financial institutions to try and “game the system at the expense of customers”, particularly those struggling financially
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Deutsche Bank downgrades HSBC to 'sell', prefers Barclays, RBS and Lloyds
Deutsche Bank’s top picks in order of preference are Barclays, RBS and Lloyds
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Deutsche Bank cuts target price on Lloyds, Barclays and RBS after 'annus horribilis'
“Our house view does not factor a recession until late-2020 although there are a number of geopolitical risks that could derail this - including the US-China trade war, Brexit, and Italy," Deutsche Bank said
Investments and investor services
FTSE 100 closes in red but nudges higher on the week; housebuilders gain on day
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
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Lloyds, RBS and Barclays hung up on Brexit dilemma
If the markets are right, Britain’s big four banks are in for a rough ride in 2019
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Lloyds, Barclays, RBS and other banks avoid cap on overdraft fees in FCA's new rules
Lloyds, RBS, Natwest and HSBC already made changes to their overdraft fees last year ahead of the FCA's high-cost credit review
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Lloyds, Vodafone, BP, GSK and Sirius Minerals the top traded companies of 2018
The Share Centre's Helal Miah said Lloyds' dividends have been restored to historic norms as profits have recovered after its restructuring
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Spanish lender Sabadell plans to sell IT crisis-hit TSB after turnaround
“The aim is that TSB enters into a process of consolidation in the future in Britain,” Sabadell’s chairman Josep Oliu said
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UK banks could raise dividends and buybacks, UBS suggests after stress test results
The Bank of England on Wednesday said all seven British banks and building societies passed could handle a 'disorderly Brexit'
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Lloyds, RBS, Barclays and other UK banks pass tough 2018 stress test ahead of Brexit
In the 2018 scenario, UK GDP falls by 4.7%, the UK unemployment rate rises to 9.5%, UK residential property prices fall by 33% and UK commercial real estate prices fall by 40%
FTSE 100 closes lower after another day of unease on Brexit and trade
The UK's premier blue-chip index closed down around 12 points at 7,004
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Morgan Stanley cuts price targets for RBS and Barclays, maintains stance on Lloyds
Morgan Stanley analysts expect the Bank of England to raise interest rates by 50bps in 2019 and another 75bps in 2020
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Lloyds confirms Deloitte as new auditor after reports of accountancy conflicts
In August it emerged that the bank may be forced to appoint Deloitte given that KPMG audited HBOS, which was bailed out by Lloyds, while EY audits rival RBS.
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Noel Edmonds to launch lawsuit against Lloyds and enter I'm a Celebrity this week
Edmonds will reportedly brave the Australian jungle as he prepares to go head to head with Lloyds over fraud at the bank's HBOS Reading unit
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Lloyds, RBS and Barclays shares drop as Theresa May faces no confidence vote over Brexit deal
“Lower interest rate hike expectations, coupled with the fear that a no-deal Brexit could bring chaos to trade, are raising worries over the performance of UK banks going forward,” said IG market analyst Joshua Mahony
UK's biggest supermarkets slapped with unequal pay lawsuit in wake of Lloyds pensions case
Female workers continue to march against discrimination in the workplace after a court ordered Lloyds to amend its pension schemes to make benefits equal for men and women
Sainsbury's profits drop as it takes hit related to proposed Asda merger
Sainsbury's continues to expect full-year underlying profit to meet market forecasts
Lloyds confirms plan to axe 6,240 jobs but create 8,240 new roles as part of digital revamp
Unions were understood to be discussing the changes with staff on Tuesday morning
Marcus by Goldman Sachs signs up 100K UK customers since September launch
“We must be one of the fastest growing banks in the UK right now," according to Des McDaid, managing director of Marcus.