United Kingdom

Lawrence White

13 Feb 2017

Exclusive - Lloyds Bank closes in on Berlin as post-Brexit EU hub: sources

LONDON Lloyds Banking Group is close to selecting Berlin as a European base to secure market access to the European Union when Britain leaves the bloc, sources told Reuters.

09 Feb 2017

Banks, brokers face post-Brexit mis-selling claims over FX options

LONDON Banks and foreign exchange brokers in Britain face legal claims from small companies which allege they were mis-sold complex currency derivatives that soured when the pound fell after Britain's vote to leave the European Union, according to court filings and sources familiar with the cases.

07 Feb 2017

Lack of information on Tesco Bank hack frustrates fellow lenders

LONDON British banking executives and security experts are growing frustrated at the dearth of information available more than three months after 2.5 million pounds ($3.09 million) was stolen from Tesco Bank in the UK's biggest financial cyber heist.

05 Feb 2017

Barclays to overhaul back office operations to cope with ring-fencing

LONDON Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business.

27 Jan 2017

Elliott agrees exit to end bruising Alliance Trust tussle

LONDON Alliance Trust , one of Britain's oldest investment managers, agreed on Friday to buy back shares held by a U.S. activist hedge fund, bringing an end to a campaign that has forced it to reform how it is run.

26 Jan 2017

RBS sets aside $4 billion for 'painful legacy' of U.S. loan mis-selling

LONDON Royal Bank of Scotland has taken a 3.1 billion pound provision as it prepares to settle claims in the United States that it mis-sold toxic mortgage-backed securities in the run up to the 2008 financial crisis. | Video

20 Jan 2017

Exclusive: HSBC cutting around 100 senior banking jobs globally - sources

LONDON HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.

12 Jan 2017

HSBC risks losing advantage with year-long delay in Chinese banking push

LONDON HSBC's ambitions to establish an investment banking franchise in China have hit a roadblock, with the bank still waiting for approval for its partnership with a state-owned fund more than a year after it announced the venture.

09 Jan 2017

U.S. bank regulator fines HSBC $33 mln for past failings

LONDON A U.S. banking regulator fined HSBC $33 million on Monday for past failings in its administration of some bank accounts, and ended business restrictions it had placed on the lender because of the problem.

20 Dec 2016

Lloyds banks on credit card growth with £1.9 billion MBNA buy

LONDON Lloyds Banking Group is buying the MBNA UK credit card business from Bank of America for 1.9 billion pounds ($2.4 billion) in an effort to increase profit and reduce its reliance on mortgage lending.

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