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CloseBrothers

News

Reuters - 13 hours ago

Close Brothers Says All Resolutions Put To Shareholders Duly Passed At AGM

BRIEF-Close Brothers Says All Resolutions Put To Shareholders Duly Passed At AGM Nov 21 (Reuters) - Close Brothers Group PLC CBRO.L : CLOSE BROTHERS GROUP PLC - ALL RESOLUTIONS PUT TO SHAREHOLDERS WERE DULY PASSED AT AGM Further company coverage: CBRO.L
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Reuters - 20 hours ago

UK's Close Bros falls after flagging potential hit to 2025 outlook

BUZZ-UK's Close Bros falls after flagging potential hit to 2025 outlook ** Shares of Close Bros CBRO.L down 2.3% at 210p ** The British lender expects potential motor finance redress claims to impact its 2025 outlook ** Says it had resumed a portion of its motor finance lending business in early November and expects a full resumption soon ** Co sai
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Reuters - 21 hours ago

Britain's FCA consults on motor finance complaints extension

UPDATE 1-Britain's FCA consults on motor finance complaints extension Adds quotes, additional detail in paragraphs 2-6, 10 LONDON, Nov 21 (Reuters) - The Financial Conduct Authority is seeking feedback on proposals to give lenders more time to handle complaints on non-discretionary motor finance commissions, after a landmark ruling widened the number of customers they may need to compensate.
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Reuters - 22 hours ago

UK Stocks-Factors to watch on Nov 21

UPDATE 1-UK Stocks-Factors to watch on Nov 21 Adds new items, updates futures Nov 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0.25%. * JD SPORTS: British sportswear retailer JD Sports Fashion JD.L warned annual profit would come in at the lower end of its guided range after a tough October of discounting, unseasonable weather and consumer caution.
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Reuters - 22 hours ago

Europe before the bell: busy busy

LIVE MARKETS-Europe before the bell: busy busy Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com . EUROPE BEFORE THE BELL: BUSY BUSY There's plenty for investors to digest on Thursday, with earnings from Nvidia overnight and Novartis early Thursday, as well as geopolitics, the latest Trump appointments , bitcoin heading towards $100,000, and Indian billionaire Gautam Adani's indict
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Reuters - 22 hours ago

UK's Close Bros expects potential motor finance redress claims to hit 2025 guidance

UPDATE 1-UK's Close Bros expects potential motor finance redress claims to hit 2025 guidance Adds background in paragraphs 3-4, CET1 details in pargraph 5-6 Nov 21 (Reuters) - Close Brothers Group CBRO.L flagged a hit to its 2025 forecast on Thursday and said it expects to fully resume its motor finance lending business soon, as the British lender assessed the impact of a recent ruling on car loan commissions.
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Reuters - 22 hours ago

Close Bros Flags Hit To 2025 Forecast From Potential Motor Finance Redress Claims

BRIEF-Close Bros Flags Hit To 2025 Forecast From Potential Motor Finance Redress Claims Nov 21 (Reuters) - Close Brothers Group PLC CBRO.L : TRADING STATEMENT REMAIN CONFIDENT THAT GROUP'S CET1 CAPITAL RATIO WILL BE BETWEEN 14% AND 15% AT END OF 2025 FINANCIAL YEAR CONTINUE TO ANALYSE ANY ADJUSTMENTS TO TIMING AND STRUCTURE OF A POTENTIAL TRANSACTI
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Reuters - 22 hours ago

Close Bros warns of hit to 2025 forecast from potential motor finance redress claims

Close Bros warns of hit to 2025 forecast from potential motor finance redress claims Nov 21 (Reuters) - Close Brothers Group CBRO.L flagged a hit to its 2025 forecast on Thursday and said it expects to fully resume its motor finance lending business soon, as the British lender assesses the impact of a recent ruling on car loan commissions. The UK's Financial Conduct Authority (FCA) has been pressing the Supreme Court to expedite a decision to permit lenders to appeal a crucial judgement that may
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Reuters - 22 hours ago

Britain's FCA consults on motor finance complaints extension

Britain's FCA consults on motor finance complaints extension LONDON, Nov 21 (Reuters) - The Financial Conduct Authority is seeking feedback on proposals to give lenders more time to handle complaints on non-discretionary motor finance commissions, after a recent legal ruling widened the number of customers they may need to compensate. The regulator has previously extended the time firms have to respond to motor finance complaints involving a discretionary commission arrangement (DCA).
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Reuters - 1 day ago

UK Stocks-Factors to watch on Nov 21

UK Stocks-Factors to watch on Nov 21 Nov 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0.27%. * PAY GROWTH: Growth in pay awards by British employers held steady in the three months to October but is expected to cool in 2025, according to a survey on Thursday that showed firms under pressure from the new government's decisions on tax and wages.
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Reuters - 3 days ago

Britain's motor finance probe could cost financial industry $38 billion, Moody's says

Britain's motor finance probe could cost financial industry $38 billion, Moody's says LONDON, Nov 19 (Reuters) - Total industry costs for Britain's probe into historic motor finance sales practices by some banks and specialist lenders could reach 30 billion pounds ($38 billion), ratings agency Moody's said on Tuesday, as liabilities estimates continue to rise.
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Reuters - 1 week ago

UK watchdog urges Supreme Court to act as $21 billion motor finance scandal looms

UPDATE 1-UK watchdog urges Supreme Court to act as $21 billion motor finance scandal looms FCA to consult on extending complaint response time for firms Regulator probing misconduct related to discretionary commission arrangements before 2021 ban FCA urges banks to consider financial provisions to cover potential claims Motor finance concerns weighing on some banking sector stocks Recasts, adds further details in paragraphs 3 and 6-8, impact on bank stocks in paragraphs 12-16 By Sinead Cruise an
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Reuters - 1 week ago

Britain's FCA proposes motor finance complaints extension

Britain's FCA proposes motor finance complaints extension LONDON, Nov 13 (Reuters) - Britain's Financial Conduct Authority said it would consult on extending the time firms have to respond to complaints about motor finance commissions, pending a legal appeal that could pave the way for a multi-billion pound consumer redress scheme. The watchdog said on Wednesday it would write to the Supreme Court asking it to decide quickly whether it will permit lenders to appeal a crucial recent Court of Appe
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Reuters - 2 weeks ago

Direct Line Insurance, Equals Group, Holmen AB

EUROPE RESEARCH ROUNDUP-Direct Line Insurance, Equals Group, Holmen AB Nov 5 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Direct Line Insurance, Equals Group and Holmen AB on Tuesday. HIGHLIGHTS * Cab Payments Holdings Plc CABP.L : Peel Hunt cuts target price to 115p from 130p * Deutsche Boerse AG DB1Gn.DE : JP Morgan cuts target price to EUR 194 from EUR 196 * Direct Line Insurance DLGD.L : JP Morgan cuts target price to 200p f
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Reuters - 3 weeks ago

Secure Trust Bank warns on profit after UK motor finance ruling

UPDATE 2-Secure Trust Bank warns on profit after UK motor finance ruling Secure Trust sees annual profit 10-15 mln stg below expectations Metro Bank says has finished review, operations back to normal STBS shares hit record low Recasts with detail, background on other companies, adds Metro Bank's response By Yamini Kalia Nov 1 (Reuters) - Britain's Secure Trust Bank STBS.L issued a profit warning on Friday after a court ruling on motor finance sparked uncertainty across the industry, prompting s
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Reuters - 3 weeks ago

Santander UK delays Q3 results to assess motor finance ruling impact

UPDATE 1-Santander UK delays Q3 results to assess motor finance ruling impact Adds details on ruling, Santander UK release, comments from spokesperson MADRID, Oct 28 (Reuters) - The UK arm of Spain's Santander SAN.MC on Monday postponed the release of its third-quarter results while it assesses the impact of a court ruling on motor finance commissions, although the parent bank said it did not expect a hit to financial targets in 2024. A London court ruled last week that motor finance brokers mus
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Reuters - 4 weeks ago

Lloyds and Close Brothers shares fall on motor finance ruling

Lloyds and Close Brothers shares fall on motor finance ruling By Lawrence White LONDON, Oct 28 (Reuters) - Shares in British lender Close Brothers CBRO.L dropped 6.5% on Monday, while those of bigger rival Lloyds LLOY.L fell 3% as bank stocks with exposure to motor finance suffered further following an adverse court of appeal judgment on Friday. A London court ruled that motor finance brokers must fully inform customers about the existence and size of commissions when taking out car loans, amid
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Reuters - 4 weeks ago

Lloyds, Secure Trust Bank extend losses; Close Brothers hits 29-year low

BUZZ-Lloyds, Secure Trust Bank extend losses; Close Brothers hits 29-year low Updates ** Shares of British lenders Lloyds Banking Group LLOY.L , Close Brothers CBRO.L and Secure Trust Bank STBS.L extend previous session's losses ** LLOY down 2.8% at 56.06p; stock biggest pct loser on FTSE 100 .FTSE ** CBRO falls 8% at 254.40p to its lowest level since 1995 - among top pct losers on FTSE 250 .FTMC index, which is up 0.1% ** STBS down 14.3% at 670p; biggest pct loser across FTSE All Shares .FTAS *
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Reuters - 4 weeks ago

Lloyds, Close Brothers extend losses; Close Brothers hits 29-year low

BUZZ-Lloyds, Close Brothers extend losses; Close Brothers hits 29-year low ** Shares of British lenders Lloyds Banking Group LLOY.L , Close Brothers CBRO.L extend previous session's losses ** CBRO falls 6.8% at 257.8p to its lowest level since 1995 ** LLOY down 1.8% at 56.6 pence - among top losers on FTSE 100 index .FTSE , which is down 0.05% ** On Oct.
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Reuters - 4 weeks ago

FTSE indexes post weekly losses on mixed earnings, budget angst

UPDATE 1-FTSE indexes post weekly losses on mixed earnings, budget angst Close Brothers, Lloyds slide on motor finance ruling NatWest climbs on raising FY forecast Abrdn down for second day after deep Q3 outflows FTSE 100 down 0.3%, FTSE 250 up 0.1% Updated at 1604 GMT By Ankika Biswas Oct 25 (Reuters) - London's blue-chip stock index slipped on Friday as investors assessed a mixed bag of corporate earnings ahead of a highly awaited first budget from the country's new government next week.
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