Banks

Lloyds Banking Group (LSE:LLOY) share price closed at 68.47 as July trading came to a close yesterday.  The bank released its half-year report at 7:02 this morning.  By 8:22 am its share price has reached 72.98.  By 10:14 am, it was at 74.41.  At 13:00 it had ascended to 74.85.  Lloyds’ share price has not […]

Barclays plc (LSE:BARC) announced earlier today it will have a rights issue to raise funds needed to fill the gap as a result of new capital quota mandated by the Prudential Regulation Authority (PRA). In a statement, the British bank said it will raise £5.8 billion worth of new shares for its existing shareholders at […]

Sadly, the news was not posted on a golden easel outside of the Old Lady of Threadneedle Street. HM Treasury has announced that Her Majesty The Queen has agreed, on the recommendation of the Chancellor and Prime Minister, to appoint Sir Jon Cunliffe as Deputy Governor of the Bank of England with responsibility for Financial […]

Ratings agency downgrades Italian banks. Fitch Ratings has downgraded Banca Popolare di Sondrio’s (BPS) Long-term Issuer Default Ratings (IDR) to ‘BBB’ from ‘BBB+’, Banca Popolare dell’Emilia Romagna’s (BPER) to ‘BB+’ from ‘BBB and Banca Carige’s (Carige) to ‘BB’ from ‘BB+’. The agency has also placed...

Pound Sterling – At the start of the week the Pound was trading above a two-week high against the US Dollar as the UK awaited the birth of its future King. The currency found support by comments made by Prime Minister David Cameron that taxes could be cut in the near future as the UK economy […]

My first look at the FTSE charts at midday reminded me of Churchill’s “V for Victory” sign as it resembled the statesman’s forefinger and index fingers raised aloft.  The 100, the 250, and the TechMARK all resembled a huge “V” as an early morning slump reversed its course and the indices rose to opening heights. […]

Enough to buy an actual gold man? Perhaps! Goldman Sachs Group, Inc. (NYSE:GS) today reported net revenues of $8.61 billion and net earnings of $1.93 billion for the second quarter ended June 30, 2013. Diluted earnings per common share were $3.70 compared with $1.78 for the second quarter of 2012 and $4.29 for the first […]

Earnings per Share of $1.34; $1.25 Excluding CVA/DVA Citigroup Inc. today reported net income for the second quarter 2013 of $4.2 billion, or $1.34 per diluted share, on revenues of $20.5 billion. This compared to net income of $2.9 billion, or $0.95 per diluted share, on revenues of $18.4 billion for the second quarter 2012. […]

Pound Sterling Over the course of last week the Pound experienced pretty extensive fluctuations. As the week began, disappointing UK industrial production figures and speculation surrounding Federal Reserve chairman Ben Bernanke’s announcement saw Sterling slide against the US Dollar and Euro. To ask a currency expert a question direct, click HERE Or to receive a […]

One headline in particular blew me away this morning – “Banks Urged by Regulators to Adopt Tougher Internal Auditors.”  Well, duh.  While I am reasonably certain that the Chartered Institute for Internal Auditors expects its members to adhere to the highest possible standard of ethic and conduct, the way that the news is being reported. […]