|Bid||2.58 x 45100|
|Ask||2.84 x 309400|
|Day's Range||2.5700 - 2.6200|
|52 Week Range||2.5100 - 4.2100|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||8.60|
|Forward Dividend & Yield||0.16 (6.05%)|
|1y Target Est||2.90|
Pindrop uses machine-learning technology that is fed large amounts of data to learn the difference between a legitimate and fraudulent phone call.
Vitruvian led the $90 million round, while Goldman Sachs and Singapore's EDBI also participated. Pindrop said it would use the latest funding to boost its European expansion plans and its drive into IOT. CEO Vijay Balasubramaniyan said he sees an initial public offering down the line for the company.
Per the U.K. stress test results, the Bank of England claims that British banks will be able to withstand even a disorderly Brexit.
Britain's bank bosses are hoping for the green light to return more capital to long-suffering investors when the Bank of England publishes results next week from its annual stress test of leading lenders. A decade after the financial crisis that triggered taxpayer-funded bank bailouts, the central bank has said repeatedly that they now hold enough capital to withstand extreme theoretical shocks such as Britain crashing out of the European Union next March without a deal. The Bank of England has acknowledged that there was no need, therefore, to make the tests any tougher than last year, raising hopes of positive outcomes when the numbers are delivered at 0700 GMT on Nov. 28.
“Our concerns relate to the allegations of the cover-up of the fraud, rather than the fraud itself,” Kevin Hollinrake, a lawmaker who co-chairs the all-party parliamentary group on fair business banking, wrote in a letter to Antonio Horta-Osorio. While the incidents that led to criminal convictions occurred years ago, scrutiny of how Lloyds handled the affair has grown as the bank settled last week with the whistleblower, former risk officer Sally Masterton. It claimed some executives at HBOS hid the fraud at one of that bank’s branches before Lloyds acquired the lender at the peak of the financial crisis.
Antonio Horta-Osorio, who took the helm in 2011, didn’t immediately flag that he received an extensive document in early 2014 stating that fraud at the bank’s HBOS unit was concealed, according to Anthony Stansfeld, an elected official who provides police oversight in the Thames Valley region west of London. The report, which was written about five years ago and only made public last summer, claimed that some HBOS executives hid the fraud at a branch in southern England before Lloyds acquired the bank at the peak of the financial crisis. It also said that Lloyds had evidence of the incident in late 2008, but didn’t disclose details to its shareholders.
European stocks were lower Friday afternoon, as investors continued to closely monitor the ongoing political turmoil in the U.K.
Investing.com - The European financial sector was among the worst performers in midday trade on Thursday, as shares of British banks were slammed after UK Brexit Minister Dominic Raab resigned.
Lloyds Banking Group said on Wednesday it had settled with an ex-employee who accused former bosses of concealing a massive fraud at its HBOS Reading unit, prior to a record-breaking cash call needed to keep the combined group afloat in 2009. The bank apologised to Sally Masterton, a former senior risk officer at Lloyds, and said that it had agreed to pay her financial compensation. Britain's biggest mortgage lender, which took over HBOS in 2009, reopened Masterton's case earlier this year after coming under pressure over its treatment of her and how it handled her allegations.
A British labour union criticised Lloyds Banking Group on Tuesday for cutting 6,000 jobs as part of a reorganisation that the lender said would actually create 2,000 posts overall. "This latest announcement will undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval," said Rob MacGregor, national officer for the Unite union. In a separate statement, Lloyds confirmed it is creating 2,000 net new jobs to help it provide more digital banking products and services.
Lloyds Banking Group is to refocus its operations on digital technology. Lloyds Banking Group is planning a major restructuring of its workforce, adding 2,000 jobs as it refocuses its operations on digital technology. The job losses will be spread across the group transformation division, corporate banking, retail and community banking, Sky News reported.
Lloyds Banking Group Plc will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 ...
European stocks lacked an overall direction in late Monday trading, closing mixed as investors digested different political events.
PLC unexpectedly posted the worst results in a stress test of European banks Friday, with a key capital measure dropping close to what investors consider the bare minimum needed to withstand a hypothetical economic crash. The results will amplify investor attention on another round of tests by the Bank of England in December and come as British and European banks attempt to plan for the potential impact of Brexit even as the terms of Britain’s separation from the European Union remain unclear. The capital measure in question, called the common equity tier 1 ratio, dropped as low as 6% at Barclays during the 2018-20 period covered by the test, which featured an adverse scenario that included double-digit unemployment and falling asset prices over the three years.
Lloyds Banking Group must amend its pension schemes to equalise benefits for men and women following a court ruling that could cost the bank up to 150 million pounds ($191.97 million) and affect thousands of other companies. In a case closely watched by the government, Judge Paul Morgan ruled that Lloyds' pension trustee had a duty to amend the schemes to equalise treatment after three female members claimed discrimination, with women's pensions increasing at a slower rate than those of men in the schemes. The case affects around 230,000 members of the bank's pension schemes, but union BTU has said it could have implications for as many as 7.8 million people in thousands of other schemes across the country, with the cost of equalising all affected pensions put at up to 20 billion pounds.
PLC to equalize pension benefits for men and women could have implications for thousands of other corporate pension plans, resulting in billions in additional costs. The court on Friday ruled that the British bank’s pension trustee has to amend a defined-benefit pension plan to retroactively increase payouts to address a dispute filed in 2016 by female claimants who pointed out that their pensions were increasing at a lower rate than those of their male counterparts. “The good news is that the issue has been resolved,” Mr. Scholefield said.
Britain's Lloyds Banking Group shrugged off fears of a chaotic, no-deal Brexit and pledged to keep pumping credit into the economy regardless of the outcome of negotiations between Brussels and London. The bank's finance chief George Culmer told reporters on Thursday that Lloyds remains hopeful that the two sides can secure a deal before Brexit day in March 2019, when the UK will undergo its biggest policy shift in four decades. Reuters this month reported that the Bank of England had laid out a contingency plan to ensure that banks such as Lloyds, Britain's biggest mortgage lender, do not suddenly slam the brakes on lending in the event of a no-deal Brexit.
Lloyds Banking Group has handed the world's biggest fund manager a £30bn investment contract after axing its deal with Standard Life Aberdeen.
Lloyds Banking Group has awarded BlackRock a 30 billion pound ($40 billion) slice of one of Europe's biggest investment contracts to be invested using the U.S. company's various index strategies. The award to the world's biggest asset manager follows a high-profile bidding competition kick-started early this year after Lloyds said it was yanking 109 billion pounds in assets from current manager Standard Life Aberdeen . Lloyds on Friday said that it would also look to agree a strategic partnership with BlackRock to collaborate in alternative asset classes, risk management and investment technology.