China Daily
a few seconds
The Herald - Business
8 minutes
Bristol Post
16 minutes
The Government has reduced its stake in Lloyds Banking Group to less than 4 per cent as the lender moves a step closer to full private ownership.UK Financial Investments, which manages the stake in Lloyds, cut its holding by around 1 per cent.It means the taxpayer's stake in the bank stands at 3.89 per cent, with more than £19 billion being returned to Government coffers since the lender's £20.3 billion bailout.It is the latest in a series of share sales by the Government, which said...
Sky News - Business
35 minutes
Lloyds Banking Group has edged a step closer to full private sector ownership as the Treasury cut its stake in the lender to less than 4%.
Bristol Post
an hour
The Government has reduced its stake in Lloyds Banking Group to less than 4 per cent as the lender moves a step closer to full private ownership.UK Financial Investments, which manages the stake in Lloyds, cut its holding by around 1 per cent.It means the taxpayer's stake in the bank stands at 3.89 per cent, with more than £19 billion being returned to Government coffers since the lender's £20.3 billion bailout.It is the latest in a series of share sales by the Government, which said...
Daily Express - Finance
2 hours
Financial Times
2 hours
The Iran Project
3 hours
Al-Monitor- The administration of Iran’s President Hassan Rouhani made three decisions on Jan. 30 that officials say will financially shore up commercial banks until the end of the Iranian fiscal year on March 20. However, the moves are widely seen as not enough to enable banks to lend money to businesses. In their first decision, Cabinet members agreed that the Management and Planning Organization will allocate 146 trillion rials ($4.5 billion) in funds from the surplus account of the Central Bank of Iran (CBI) to the Keshavarzi, Melli, Refah, Sepah, Mellat, Saderat, Tejarat and Industry & Mine banks, as part of repayment of government debt to the banking system. The Cabinet also authorized the eight banks to collectively issue up to 100 trillion rials ($3 billion) worth of Islamic bonds in the Iranian debt market by the end of the fiscal year.
ABC News - Money
3 hours
The Week
3 hours
Amazon and Uber make 'gig economy' confession Amazon, Deliveroo and Uber have admitted their business models would remain viable without 'gig economy' workers. Senior executives of the trio, and the delivery company Hermes, told MPs that they would continue in business even if they were no longer allowed to rely on self-employed workers who do not receive sick pay, pensions or a guaranteed minimum wage. Lloyds shares rise after profits double Lloyds shares climbed to their highest since the Brexit referendum as the banking group reported a more than doubling of statutory profits and promised to hand back £2.2bn to shareholders. Michelle McGrade of TD Direct Investing led the delighted charge of analysts, saying that Lloyds was becoming "a lean, mean dividend-making machine for years to come". Staff and management bonuses were increased by 11% to £393m.
The Economic Times
3 hours
The Herald - Business
3 hours
South China Morning Post
3 hours
A potential interest rate rise, which may come as early as next month, is not good news for Chinese A-shares and Hong Kong property stocks, while banking and export stocks could be winners, according to analysts. An imminent increase in US interest rates now appears possible after US Fed Chair Janet Yellen last week said it would be unwise to wait too long to increase them. The remark helped ignite a recalibration in markets such that many now believe action may be taken at the...
Daily Express - Finance
3 hours
Asia Today
11 hours
Feb 23, 2017 Dubai, 22nd February: Retail banking today has already become a digital business, spurred by the rapid spread of broadband access and affordable smart mobile devices. Globally, an average of more than half of consumers' banking interactions took place through online or mobile channels, with an even greater share in digitally advanced markets like the Nordic countries and Australia. However, in the Middle East, despite all the interest in mobile banking and digital payments, banks have still not weaned off the brick-and-mortar model. Held at the Le Meridien Dubai Hotel from 4 to 5 April, this year’s edition, the 12th Annual Middle East Retail Banking Confex will be hosting top bankers from around the world to share their insights on how retail banking in the region is set to undergo a significant change. FinTech today, has empowered banks to pursue larger goals than mere banking, Kannan Ramasamy, CEO of Vayana, says: “While banks will continue to compete on products, services and margins, the more enlightened banks are likely to enhance their position by developing a differentiated customer experience.
Cnet
16 hours
Sky News
17 hours
But what Lloyds really has become, successfully, it is the simple, boring, earnings were seen that its takeover of a spouse was about to be 90 years ago. It has taken me a while to get here and it is there. It is very good results, much more of an interesting story about the banking industry in the UK today. -- 90 years. That is where, is a growing, on a mortgage side that really the big bread-and-butter of the industry, it looks like peak profitability may have happened.
Sky News
17 hours
I pointed out to Peter Hahn, Dean at the London Institute of Banking and Finance, that although pre-tax profits were sharply up, underlying profits were in fact down. On the revenue line, the new business line, it doesn't look like there is much growth there.
Sky News
17 hours
If that continues to abuse process, I would be concerned. It is that link to ongoing investment that is the key to future innovation and prosperity. Lloyds Banking Group has reported its highest annual profits since before the financial crisis. The bank made pre-tax profits of £4.2bn last year, the most since 2006, and a 158% increase on 2015. In a sign the bulk of PPI claims are behind it, it's reduced its provisions from £4 billion to £1 billion, meaning it's now paid out a total of £17 billion.
Android Police
18 hours
The Bank of America Android app had its material overhaul last year, so it already looks better than a ton of banking apps. However, today it's getting better, with the new ability to send, receive, or request money from almost anyone in your contacts. Left : before. Right : after. Previously, money could be sent, but it did not use your phone's address book, and requesting money was difficult. The new feature, however, uses your phone's address book to get emails of the person you want to send money to, or request money from. Read More Bank of America update adds sending or receiving money with almost anyone, using your phone's address book was written by the awesome team at Android Police .
Washingtons Blog
18 hours
TechCrunch
19 hours
Clinc hopes its AI personal assistant Finie will one day reduce the complexity and barriers many consumers face when attempting to understand their finances. The company claims the voice-controlled platform serves up financial data in impactful ways with minimal effort. And now, with an infusion of cash from mostly Midwest venture funds, the company has a bit more runway to advance its cause. Read More
Forex News DailyFX
19 hours
European markets are looking pretty lack luster this Wednesday afternoon despite some positive data releases including an above expectation rise in Britain’s GDP, Lloyds Banking Group reporting its highest annual profit in a decade and Eurozone inflation rising. The British economy grew faster than previously thought. The 2nd GDP estimate came in at 0.7% in the fourth quarter, above the preliminary reading of 0.6%. This uptick is due to the manufacturing industry performing better than first thought. In response Sterling rose to its highest level in two months against a weak euro. The pound gained slightly on the GDP release while the euro weakened as German 2-year bond yields hit a record low of minus 0.91%, making the single currency less attractive against higher yielding currencies including sterling and the US dollar. Lloyds Banking Group reported a huge increase in profit before tax.
Mashable
19 hours
For years, banks have watched as their youngest customers split restaurant checks, shared utility bills, and pitched in for parties using third-party payment apps such as Venmo. Now, they're trying to take back the person-to-person payments business by launching an app of their own. Nineteen banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, are teaming up to start Zelle, a web site and app that will let users send and request money much like Venmo does. Bank of America says it is the first to incorporate all of Zelle's capabilitiesincluding the ability to split bills between usersinto its own mobile app, starting today. A standalone Zelle payment app should be available to anyone with a debit card, regardless of where they bank, by the middle of the year. Read more... More about Mobile Payments , Zelle , Banking , Paypal , and Venmo