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British Business - Aug 12

PRESS DIGEST-British Business - Aug 12 Aug 12 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Elon Musk has thrown the tech industry's main anti-terror organisation into turmoil amid claims X has become the top platform for hosting Hamas videos.
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Taylor Swift cancellations deal blow to insurers, sources say

Taylor Swift cancellations deal blow to insurers, sources say By Carolyn Cohn, Alexander Hübner and Noor Zainab Hussain LONDON, Aug 9 (Reuters) - Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be cancelled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters.
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UK's Hargreaves Lansdown agrees $6.9 bln takeover by consortium

UPDATE 4-UK's Hargreaves Lansdown agrees $6.9 bln takeover by consortium Shareholders to get 11.40 pounds per share in cash Consortium says offer is final Deal has backing of co-founders Adds more detail, context, analyst comment By Yadarisa Shabong and Yamini Kalia Aug 9 (Reuters) - Britain's largest investment platform Hargreaves Lansdown HRGV.L on Friday agreed to a 5.4 billion pound ($6.9 billion) takeover by an international consortium, which is betting on grabbing market share in the compe
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NatWest eyes loan risk transfers to spur new lending and protect dividends

RPT-FOCUS-NatWest eyes loan risk transfers to spur new lending and protect dividends Repeats story that ran on Aug. 8 with no changes to text By Sinead Cruise LONDON, Aug 9 (Reuters) - NatWest NWG.L wants to bolster its lending firepower. To do so it plans to cut deals with investors to offload some of its loan risk, to make its capital go further and preserve dividends, executives told Reuters.
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NatWest eyes loan risk transfers to spur new lending and protect dividends

RPT-FOCUS-NatWest eyes loan risk transfers to spur new lending and protect dividends Repeats story that ran on Aug. 8 with no changes to text By Sinead Cruise LONDON, Aug 9 (Reuters) - NatWest NWG.L wants to bolster its lending firepower. To do so it plans to cut deals with investors to offload some of its loan risk, to make its capital go further and preserve dividends, executives told Reuters.
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NatWest eyes loan risk transfers to spur new lending and protect dividends

FOCUS-NatWest eyes loan risk transfers to spur new lending and protect dividends Adds details on shareholder distributions in paragraph 17, recasts headline By Sinead Cruise LONDON, Aug 8 (Reuters) - NatWest NWG.L wants to bolster its lending firepower. To do so it plans to cut deals with investors to offload some of its loan risk, to make its capital go further and preserve dividends, executives told Reuters.
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NatWest to tap investors to shed loan risk and protect dividends, executives say

FOCUS-NatWest to tap investors to shed loan risk and protect dividends, executives say By Sinead Cruise LONDON, Aug 8 (Reuters) - NatWest NWG.L wants to bolster its lending firepower. To do so it plans to cut deals with investors to offload some of its loan risk, to make its capital go further and preserve dividends, executives told Reuters. The domestically-focused bank, still 19% taxpayer-owned since its 2008 bailout, joins a wave of peers seeking to shed some loan exposure using behind-the-sc
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London's FTSE 100 extends recovery to second day on financials, corporate earnings boost

UPDATE 1-London's FTSE 100 extends recovery to second day on financials, corporate earnings boost For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 up 1.8%, FTSE 250 adds 1% Banks and financial services stocks lead broad gains TP ICAP surges after a rise in half-year pre-tax profit Updated at 1600 GMT By Pranav Kashyap and Medha Singh Aug 7 (Reuters) - London stocks broadly rose for a second straight session on Wednesday, with gai
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Top UK lenders could be wound down in a crisis without bailouts, BoE checks show

UPDATE 3-Top UK lenders could be wound down in a crisis without bailouts, BoE checks show Adds more detail on outcome of checks in paragraphs 6-8 By Huw Jones LONDON, Aug 6 (Reuters) - Britain's top eight banks including HSBC, Barclays, Lloyds and NatWest could be wound down in a crisis without the immediate need for taxpayer cash, the Bank of England said on Tuesday following its second 'resolvability' check of the lenders.
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Britain's top lenders could be dismantled smoothly in a crisis, says Bank of England

Britain's top lenders could be dismantled smoothly in a crisis, says Bank of England LONDON, Aug 6 (Reuters) - Britain's top eight banks could be wound down in a crisis without the immediate need for taxpayer cash, the Bank of England said on Tuesday following its second 'resolvability' check of the lenders. Being able to "resolve" or shutter an ailing major bank without destabilising the financial system or calling on taxpayers was a core lesson from the global financial crisis of 2007-09, when
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Lloyds hires Amazon Web Services executive Rohit Dhawan as its new AI chief - FT

MEDIA-Lloyds hires Amazon Web Services executive Rohit Dhawan as its new AI chief - FT -- Source link: https://on.ft.com/46voJmJ -- Note: Reuters has not verified this story and does not vouch for its accuracy
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Hedge fund tycoon Marshall closes in on deal for Spectator, say sources

Hedge fund tycoon Marshall closes in on deal for Spectator, say sources By Paul Sandle and Nell Mackenzie LONDON, Aug 1 (Reuters) - Hedge fund tycoon Paul Marshall is closing in on a deal to buy the Spectator magazine from Abu Dhabi-backed RedBird IMI which is selling the title as well as the Telegraph newspapers, according to two people with knowledge of the situation.
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Schroders shares slide as fee pressure leads to profit miss

UPDATE 3-Schroders shares slide as fee pressure leads to profit miss Adds CEO comments, context, updates shares By Iain Withers LONDON, Aug 1 (Reuters) - British fund manager Schroders SDR.L missed profit forecasts and flagged pressure on its margins in half-year results on Thursday, sending its shares sharply lower despite reporting record assets.
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Britain regulator says payment scams totalling 341 mln pounds reported in 2023

Britain regulator says payment scams totalling 341 mln pounds reported in 2023 Britain's Payment Systems Regulator (PSR) said on Thursday that 252,626 cases of authorised push payment (APP) scams worth almost 341 million pounds ($438 million) in total were reported in 2023. The PSR, in its latest report tracking the performance of payment firms in tackling such scams and reimbursing victims, said reimbursement rates increased, while fraud value decreased.
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Barclays announces $960 mln buyback, lifts outlook as investment bank shines

UPDATE 4-Barclays announces $960 mln buyback, lifts outlook as investment bank shines First half profit falls 9%, less than feared Investment bank equities revenue up 24% in Q2 Bank upgrades 2026 returns guidance Adds shareholder distributions plan in paragraph 3, updates shares in paragraph 4 By Lawrence White and Sinead Cruise LONDON, Aug 1 (Reuters) - Barclays BARC.L announced a new 750 million pound ($957 million)share buyback and upgraded its longer term earnings guidance on Thursday, drive
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UK Stocks-Factors to watch on August 1

UK Stocks-Factors to watch on August 1 Aug 1 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0.3%. * INTEREST RATES: The Bank of England looks in a position to cut interest rates on Thursday after holding them at a 16-year high of 5.25% for the past year, though markets and economists are far from certain the British central bank will take the plunge.
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Bodycote, Croda, Spectris

EUROPE RESEARCH ROUNDUP- Bodycote, Croda, Spectris July 31 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Bodycote, Croda and Spectris, on Wednesday. HIGHLIGHTS * Bodycote Plc BOY.L : HSBC cuts target price to 940p from 950p * Bucher Industries AG BUCN.S : Berenberg cuts target price to CHF 464 from CHF 470 * Croda CRDA.L : HSBC cuts target price to 4400p from 4800p * Spectris Plc SXS.L : JP Morgan raises target price to 2,950p fr
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Optimism floods UK firms in wake of election result, Lloyds survey shows

Optimism floods UK firms in wake of election result, Lloyds survey shows July 31 (Reuters) - Optimism in British companies soared in July to hit its highest in more than seven years, adding to signs of improved corporate sentiment following Prime Minister Keir Starmer's election landslide, a survey showed on Wednesday. The monthly Lloyds Bank Business Barometer's gauge of trading prospects for the next 12 months rose to 56% this month from 44% in June, its highest level since April 2017. Optimis
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Posh UK wealth group flaunts takeover credentials

BREAKINGVIEWS-Posh UK wealth group flaunts takeover credentials The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Neil Unmack LONDON, July 30 (Reuters Breakingviews) - St. James’s Place SJP.L shareholders are finally enjoying some good news. The wealth manager, which caters to well-off Brits, drew in more new client money than investors expected so far this year, helping to put aside a long-lasting controversy over its fees.
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Euronext, Pearson, Saint-Gobain

EUROPE RESEARCH ROUNDUP- Euronext, Pearson, Saint-Gobain July 30 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Euronext, Pearson and Saint-Gobain on Tuesday. HIGHLIGHTS * Adyen NV ADYEN.AS : HSBC cuts target price to EUR 1600 from EUR 1900 * Deutsche Boerse AG DB1Gn.DE : JP Morgan raises target price to EUR 198 from EUR 194 * Euronext NV ENX.PA : JP Morgan cuts target price to EUR 107 from EUR 108 * Pearson PSON.L : JP Morgan cut
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