LONDON (AP) – Lloyds Banking Group PLC said Tuesday it expects to cut 1,750 jobs in its group operations and wholesale divisions over the next three years as it consolidates the merger of Lloyds TSB and Halifax/Bank of Scotland.
The partly nationalized bank said 2,100 posts would be cut, but that would be partly offset by [...]
WASHINGTON (AP) – Democratic leaders have committed to enacting by the end of the year the biggest regulatory revision to the U.S. financial system since the 1930s – an undertaking so ambitious it has some lawmakers worried about missteps.
“We have to evaluate it, weigh it, slow it down and make sure we do it right,” [...]
By TALI ARBEL
AP Business Writer
NEW YORK (AP) – The dollar sagged in volatile late trading Friday amid a huge sell-off in U.S. bank stocks and talk about further drastic actions the government may take in the financial sector.
The 16-nation euro swung in a big range Friday, trading at $1.2841 late in New York, up from [...]
By ELIANE ENGELER
Associated Press Writer
GENEVA (AP) – UBS AG shares plunged more than 14 percent amid concern over an ongoing tax evasion case in the United States, and commentators in Switzerland voiced their anger at the bank’s business practices and what they saw as heavy-handed treatment by U.S. authorities.
Thursday’s news that UBS and Swiss authorities [...]
By CARLO PIOVANO
AP Business Writer
LONDON (AP) – World stock markets dropped Wednesday as fears that mounting bank losses will deepen the world economic slump overshadowed the promises of recovery in President Barack Obama’s inaugural speech.
Stock markets in both Europe and Asia opened lower after a sharp drop overnight on Wall Street, where investors returning from [...]
By TOMOKO A. HOSAKA
Associated Press Writer
TOKYO (AP) – Asian stocks tumbled Tuesday, as a fresh round of jitters about the health of major banks eclipsed any optimism ahead of Barack Obama’s inauguration as U.S. president. European markets opened higher following a sell-off the day before.
Positive sentiment from hopes an Obama administration would act aggressively to [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – European stock markets declined Monday with banks in free fall as investors fretted over a second British government bailout of the sector in just over three months. Royal Bank of Scotland shares fell 60 percent after it announced massive losses.
Europe’s early gains were erased as the markets feared [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – European stock markets declined Monday with banks in free fall as investors fretted over a second British government bailout of the sector in just over three months. Royal Bank of Scotland shares fell 60 percent after it announced massive losses.
Europe’s early gains were erased as the markets feared [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – World markets were mixed Friday as early euphoria surrounding the bailout of Bank of America Corp. dissipated amid fears that other banks around the world will need fresh capital injections soon.
Britain’s Barclays PLC was the worst hit stock, closing 18 percent lower on the day, as dismal fourth [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – European stock markets fell sharply Wednesday amid renewed concerns about the financial well-being of the banking system and ahead of key Christmas trading news in the U.S.
The FTSE 100 index of leading British shares was down 100.57 points, or 2.3 percent, at 4,298.56 despite earlier gains in Asian [...]
