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Banks

Barclays Bank named Culprit in £500M Tax Avoidance Schemes

Feb 28 2012 @ 09:11
Barclays (LSE:BARC) confirmed they are the bank involved in the crackdown of HM Revenue & Customs for tax avoidance schemes, which was announced the day before. Exchequer Secretary David Gauke, announced on Monday, 27th February they had stopped two schemes of an unnamed bank, which could have generated £500 million in taxes, in a rare act of “retrospective […]
 

Lloyds Banking Group Suffers £3.5 billion losses in 2011

Feb 24 2012 @ 10:24
Lloyds Banking Group (LSE:LLOY) reported an annual loss of £3.542 billion in 2011, a very steep downfall from the £281 million profit it made in 2010, citing the £3.2 billion Payment Protection Insurance (PPI) provision as the single biggest factor behind the loss. Still, Chief Executive António Horta-Osório said the Group delivered “a resilient performance […]
 

Barclays Suffers Mixed Results

Feb 10 2012 @ 10:14
Barclays (LSE:BARC) saw its adjusted profits before tax in the UK retail and business banking operation to rise sharply at 60% to £1.42 billion compared with £889 million it posted in 2010, figures shown in the last reported fiscal year. Barclays were able to increase profits in the retail and business banking division by 48% from £2.235 […]
 

RBS succumbs to Public Pressure

Jan 30 2012 @ 09:03
Royal Bank of Scotland Group (LSE:RBS) Chief Executive Officer Stephen Hester will no longer receive his £970,000 worth of RBS shares bonus. The decision came after the Labour Party leader Ed Miliband declared they will rouse the House of Commons to a vote over the controversial remuneration package. The news first broke out on Thursday, […]
 

RBS Executive Receives Hostile Public Reception for Hefty Bonus

Jan 27 2012 @ 03:36
Royal Bank of Scotland (LSE:RBS) CEO, Stephen Hester bonus of £963,000 in shares has come under scrutiny from various parties. To the anger of many Britons, the board of directors of the state-owned bank awarded Mr. Hester with the annual bonus which a majority of ordinary workers struggle to earn in a lifetime. The move […]
 

HSBC: Under Investigation for Money Laundering

Jan 26 2012 @ 08:49
HSBC (LSE:HSBA) has confirmed an investigation has been launched by the US regulators on possible breaches in the Anti-Money Laundering and Bank Secrecy Acts. Spokersperson for HSBC, Robert Shermann, stated the US division of the UK-based bank is having ongoing discussions with officials on a number of regulatory and compliance matters. “The nature of these […]
 

Lloyds' Banking Group CEO Planning to Return

Dec 12 2011 @ 08:22
According to Stocks & Shares TV, the board of Lloyds Banking Group will be making a decision soon as to approving the return of CEO; António Horta-Osório, who has been on medical leave since November, due to extreme fatigue.  UK Financial Investments has already indicated it is in favor of Horta-Osório’s return. UK Financial Investments […]
 

Lloyds' Interim CEO To Leave

Nov 04 2011 @ 11:24
Tim Tookey, the man who was named interim CEO of Lloyds on Wednesday has announced today his plans to leave the bank by March 2012 for insurance company Resolution. Tookey replaced the full time CEO António Horta-Osório, who was forced to take a leave of absence this week after being hospitalised for stress and exhaustion. […]
 
 
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