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Iran tanker safety risks rise as ship audit firms quitWestern pressure that forced foreign ship classifiers out of Iran has increased safety risks including the danger of an Iranian vessel spilling oil on another country's coast, the chief executive of Lloyd's Register said. More… |
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Lloyds sets aside $609m for compensationLloyds warned of a long, hard economic recovery and set aside an extra £375 million ($609 million) to compensate people mis-sold insurance, underscoring the challenge facing Britain's banks as they battle to recover from financial crisis. More… |
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Lloyds in talks to offload UAE businessStruggling British lender Lloyds Banking Group is in talks to dispose of its operations in the UAE, with Abu Dhabi Commercial Bank emerging as the frontrunner to pick up the business, sources told Reuters on Monday. The bank, which is 40 p More… |
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Lloyds names ME corporate banking headLloyds TSB has appointed Bobby Liddell as its new head of corporate banking in the Middle East, the bank said in a statement on Sunday. Liddell, who was previously senior manager for corporates at the bank in Dubai, will report to Richard More… |
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Lloyds Aussie unit sells $1.65bn property loansLloyds Banking Group's Australian unit has sold A$1.7 billion ($1.65 billion) in distressed property loans to Morgan Stanley and Goldman Sachs to free up capital to focus on corporate lending and asset finance. A spokeswoman for L More… |
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Moody's cuts RBS and Lloyds ratingsCredit rating agency Moody's downgraded Britain's part-nationalised banks Lloyds and Royal Bank of Scotland on Friday, although Britain's finance minister said UK banks were well-placed to cope with a European debt crisis. The More… |
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Ireland, mis-selling push Lloyds $5.3bn into redLloyds slumped to a 3.25 billion pound ($5.3 billion) first half loss, hit by the cost of compensating customers mis-sold insurance and as losses on bad loans in Ireland continued to pile up. The loss compared with a 1.3 billion pound prof More… |
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New Lloyds CEO cuts 15,000 jobs in revival planLloyds will axe 15,000 jobs and halve its international presence, a plan its new boss hopes will save 1.5 billion pounds ($2.4 billion) a year by 2014 and return the part-nationalised British bank back to health. Chief executive Antonio Ho More… |
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Lloyds takes $5.3bn hit for insurance mis-sellingBritish bank Lloyds took a shock 3.2 billion-pound ($5.3 billion) charge on Thursday to compensate consumers for mis-selling debt repayment insurance policies and also suffered another hit from Ireland's woes. Lloyds, Europe's sixth bigges More… |
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Bahrain 1st choice for Lloyd's Mideast pushIf global insurance market leader Lloyd's decides to have a physical presence in the Middle East in the future, then Bahrain would certainly be one of the most likely places for such a venture. That was the claim made by Lloyd's de More… |
