Business attitudes improving

Nearly three quarters of UK businesses surveyed in a recent Barclays Commercial Bank poll now describe their attitude towards the economy as either hopeful or excited, while a similar amount are either continuing to grow or predict they will return to growth within the next 12 months.

The Connecting Business survey, carried out at Barclays Commercial events held at locations across the UK, found that 57% of respondents characterised their outlook towards the economy as hopeful, with a further 17% describing their attitude as excited.

Only 11% stated they were worried by the general state of the economy.

The research also revealed a confident stance towards recovery, with 15% of respondents believing their company will move back into a sustained growth phase within the next six months and 28% believing this will occur within 6 to 12 months. Additionally, 29% claimed their business continues to grow.

Ian Stuart, Managing Director, Barclays Commercial Bank, said: 'Confidence is key to recovery and the results of this survey demonstrate a real and growing confidence in UK businesses. The past 18 months have provided an extremely testing environment for many organisations; however, after evolving to meet the challenges of this new commercial landscape we are now seeing the beginnings of a renewed drive for growth.

'We believe there is a long way to go before we see a full economic
recovery, but it is encouraging to see so many businesses displaying such a positive mindset.'

A significant number of business leaders also stated that the current recession was positively affecting motivation levels of staff and management within their organisation, with 30% of respondents claiming that motivation was increasing and 54% stating that motivation was holding steady.

42% of respondents found business organisations and federations an important partner in meeting the challenges posed by the
recession.
Only 5% of respondents believed it would take more than 18 months for their company to move back into a sustained growth phase.

A significant majority (70%) of business leaders are working towards creating or sustaining a profitable niche, as opposed to the 9% who are focusing on just surviving.

The research was conducted as part of Barclays Commercial's Turning the Corner initiative which combines practical guidance, workshops, industry discussions and networking events to offer business owners and managers specific skills and knowledge that will help them in meeting the unique challenges, and identifying potential opportunities, the current recession presents.

From The Times August 22, 2009

Lloyds could face 1bn bill as it eyes exit from protection schemeKatherine Griffiths, Banking Editor

Lloyds Banking Group may have to pay about 1 billion to the Government if it opts out of the taxpayer-funded insurance scheme for toxic assets. The payment would represent recognition that Lloyds has been stabilised by the Governments special asset protection scheme (APS), announced in February.

Lloyds, which is 43 per cent-owned by the taxpayer and which has been planning to place up to 260 billion of toxic assets into the APS, is thinking of walking away from the the scheme or cutting its participation. It no longer thinks that it needs the scheme because bad debts have peaked and the economy is improving.

If Lloyds does tear up the agreement, the Treasury is likely to insist on a fee recognising that the announ- cement of the APS provided crucial stability for the bank. The European Commission is also likely to say that Lloyds would have to pay a fee because the deal over the APS has been part of the state aid for the bank.

Lloyds is due to pay the Government almost 15.6 billion for using the APS, a sum that the bank and its shareholders believe is punitive.

Lloyds wants to keep the Governments stake as low as possible another reason for bypassing the APS. Under the existing agreement, Lloyds would pay for the scheme in new B shares issued to the Government, which would increase the States stake to 60 per cent, although the Governments voting rights would be capped at 43 per cent.

The bank is planning to pay the fee over seven years, making its annual cost slightly more than 2 billion. That could mean that the Government demands about 1 billion from Lloyds for the benefit it has felt over the first six months of the year.

Lloyds is still considering its options and many of its large shareholders are wary about walking away from the APS. They also do not want to support a rights issue for about 20 billion, the sum that analysts believe Lloyds would have to raise so that it would have enough capital to stay outside the APS.

The bank might be able to persuade shareholders to back a rights issue of about 10 billion, enabling it possibly to cut its use of the APS in half.

The Government would probably take up its own rights in a capital raising, it is thought, which would mean that institutional shareholders would have to provide only 6 billion. As well as getting shareholders on board, Lloyds would have to persuade the Financial Services Authority that it could pass the regulators stress tests without the APS. The FSA is likely to take a very conservative approach to making an assessment.

There is rising speculation that Lloyds is considering another option to issue some of the new B shares for the APS to institutional investors, rather than to the Government. This would allow the bank to keep state ownership at its lowest level. Investors would pay for the B shares, providing cash that Lloyds could use to pay a fee to the Government.

Adding a further layer of complexity, Lloyds is waiting to hear what measures the European Commission will insist it takes to mitigate the billions of pounds of state aid that it has received since the Governments bailout of banks last October. Among the expected remedies are forced sales of some of its assets, which might include Bank of Scotland or the Lloyds TSB franchise in Scotland.

The Government rushed out the APS scheme to stop the implosion of Lloyds and Royal Bank of Scotland (RBS), by promising that the taxpayer would pay for both banks losses beyond a certain point.

RBS, which is 70 per cent-state controlled, is putting in 325 billion of toxic debt. Both banks have signed agreements in principle.

What a load of journo rubbish, completely forgot to mention LLOY saved the government from having to takeover HBOS.

1bn is fuck all anyway considering what hbos cost them...look at the chart ,this is going only one way...north bigtime..200p by end of september...trust me

Isn't that what Bernard Madoff & Allen Stanford said?

From The Times August 22, 2009

Lloyds could face 1bn bill as it eyes exit from protection schemeKatherine Griffiths, Banking Editor

Lloyds Banking Group may have to pay about 1 billion to the Government if it opts out of the taxpayer-funded insurance scheme for toxic assets. The payment would represent recognition that Lloyds has been stabilised by the Governments special asset protection scheme (APS), announced in February.

Lloyds, which is 43 per cent-owned by the taxpayer and which has been planning to place up to 260 billion of toxic assets into the APS, is thinking of walking away from the the scheme or cutting its participation. It no longer thinks that it needs the scheme because bad debts have peaked and the economy is improving.

If Lloyds does tear up the agreement, the Treasury is likely to insist on a fee recognising that the announ- cement of the APS provided crucial stability for the bank. The European Commission is also likely to say that Lloyds would have to pay a fee because the deal over the APS has been part of the state aid for the bank.

Lloyds is due to pay the Government almost 15.6 billion for using the APS, a sum that the bank and its shareholders believe is punitive.

Lloyds wants to keep the Governments stake as low as possible another reason for bypassing the APS. Under the existing agreement, Lloyds would pay for the scheme in new B shares issued to the Government, which would increase the States stake to 60 per cent, although the Governments voting rights would be capped at 43 per cent.

The bank is planning to pay the fee over seven years, making its annual cost slightly more than 2 billion. That could mean that the Government demands about 1 billion from Lloyds for the benefit it has felt over the first six months of the year.

Lloyds is still considering its options and many of its large shareholders are wary about walking away from the APS. They also do not want to support a rights issue for about 20 billion, the sum that analysts believe Lloyds would have to raise so that it would have enough capital to stay outside the APS.

The bank might be able to persuade shareholders to back a rights issue of about 10 billion, enabling it possibly to cut its use of the APS in half.

The Government would probably take up its own rights in a capital raising, it is thought, which would mean that institutional shareholders would have to provide only 6 billion. As well as getting shareholders on board, Lloyds would have to persuade the Financial Services Authority that it could pass the regulators stress tests without the APS. The FSA is likely to take a very conservative approach to making an assessment.

There is rising speculation that Lloyds is considering another option to issue some of the new B shares for the APS to institutional investors, rather than to the Government. This would allow the bank to keep state ownership at its lowest level. Investors would pay for the B shares, providing cash that Lloyds could use to pay a fee to the Government.

Adding a further layer of complexity, Lloyds is waiting to hear what measures the European Commission will insist it takes to mitigate the billions of pounds of state aid that it has received since the Governments bailout of banks last October. Among the expected remedies are forced sales of some of its assets, which might include Bank of Scotland or the Lloyds TSB franchise in Scotland.

The Government rushed out the APS scheme to stop the implosion of Lloyds and Royal Bank of Scotland (RBS), by promising that the taxpayer would pay for both banks losses beyond a certain point.

RBS, which is 70 per cent-state controlled, is putting in 325 billion of toxic debt. Both banks have signed agreements in principle.

Nar1

Is your memory faulting?

It must be, if repeating the the same -copy and paste - the same day

Resolution, Lloyds in talks over C. Medical -- Sun 23 Aug, 2009

LONDON (Reuters) - Entrepreneur Clive Cowdery's Resolution (RSL.L) has held early stage talks with Lloyds Banking Group (LLOY.L) over the sale of its Clerical Medical unit, the Mail on Sunday reported, citing an unnamed source.

Industry observers suggest the sale of Clerical Medical, which Lloyds acquired when it bought HBOS, could fetch up to 4 billion pounds, the paper said.

Lloyds and Resolution declined to comment.

Resolution, which raised 600 million pounds in a stock market listing last December to buy and restructure life insurers and asset managers, is the leading candidate to buy unwanted businesses from Lloyds.

-------------------------
HBOS was board's deal - Lloyds' chair -- Sun 23 Aug, 2009

LONDON (Reuters) - Victor Blank, outgoing chairman of Lloyds Banking Group (LLOY.L), said the bank's board was behind the decision to buy HBOS, not the UK government.

"There is a perception that the government was involved, but let me say very clearly: this was not Gordon Brown's deal," he said in an interview with the Sunday Times newspaper.

"It was the Lloyds board's deal, done with the right investigation, right process, right discussion -- and the board made a decision."

Lloyds agreed to buy HBOS in the depths of the banking crisis last September and weeks later was forced to surrender a 43 percent stake to the government in return for a 17 billion pound bailout. It posted a first-half loss, battered by bad debts from HBOS.

The paper also reported that incoming chairman Win Bischoff is facing pressure from some investors to clear out the boardroom.

A spokesman for Lloyds declined to comment on the report.

Bischoff is due to start as chairman on September 15.

TOP performer today, up to 108.50p at one time, now FTSE is taking a rest and the shares are at the moment 107.12 +5.54p

Naturally breaking the last high of 105p

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Anybody else see this hitting 2

maybe 3p but not 2

very good

when is the ceo going to tell holders the direction of the company the PR is piss pour. complete shite

are we about to get a RI AGAIN IN LLOYS that is now the latest

Awesome! Bought the last lot @ 38.5p and sold them at 98p. Keep 'em coming I say!

Lloyds cuts 200 jobs in general insurance

LONDON (Reuters) - Lloyds Banking Group, 43 percent owned by the government, will cut 200 jobs in its general insurance division by the end of January in a shake-up of back office functions, the bank said on Tuesday.

Lloyds, which agreed to buy rival HBOS last year, said it was combining the support operations of Lloyds TSB and HBOS General Insurance, including sales, marketing, actuarial and underwriting operations.

The bank said the jobs would be cut in locations including Wales and Yorkshire.

Analysts have estimated that over 30,000 jobs could be cut as Lloyds integrates HBOS.

Breaking new highs today now 111.50p +3.75p

How high are they going to go??????

They lost at this moment everything gain earlier and they are on the red now, but long term the market will say as the economy is recovering.

Money is safe here

I you you want a faster recovery stock then NTG is doing that now and I am in since yesterday, the debt problen is now solved after the placing.

------------------------------Intraday --------------------------------------------------- 12 month ------------------------

    

The way the gov has dealt with Lloyds is criminal .... 12% preference .... ? % for support over toxic debt .... can they realy be so stupid? with a sensible [fair] rate Lloyds would in double quick time buy back the 43% share holding, pay dividends and instead of being a liability gov would reap lots of luvly tax lolly while you and I fellow share holders would also contribute almost ungrudgingly.

It is at least possible the premium money might mostly be profit to gov!

ever hopeful tipton