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.

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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

Lloyds mulls alternatives to toxic asset scheme28-08-2009 06:52

Lloyds Banking is said to be considering alternatives to joining the government's toxic asset protection scheme (APS), including a potential rights issue or the sale of Scottish Widows.

The part-nationalised lender may also sell Clerical Medical, a provider of investment products and pensions, Bloomberg is quoting two people familiar with the talks as saying.

Lloyds, which is 43% owned by the UK government, has already tapped shareholders a number of times recently, but management is said to be concerned that the cost of taking part in the scheme is just too high.

The bank agreed to put 260bn of troubled loans into the APS scheme as part of its initial deal in March, but is baulking at the 15.6bn in fees. Talks about the details are still ongoing.

Is going places today over 4p to the good so far

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daniels must go the citywill not back a loser and he is a loser

Stopped out of the last % of long today (spread bet) but still hold some shares - although sadly not many. 25 MA breached on good volume - I'm going to leave this one for now as I'm not sure (enough) which direction from here.

Lloyds' shares set for falls, say experts
Tanya Powley -- 02.09.09

Lloyds Banking Group's (LLOY) share price could fall by 40% to 60p if the bank goes ahead with plans to raise 10 billion to reduce its dependence on the taxpayer, say industry experts today.

Reports suggest Lloyds has received the requisite support from some of its biggest backers in the City such as institutions and fund managers to raise 10 billion in order to make a partial withdrawal from the government's insurance scheme.

However, news service Reuters reported that Lloyds has not been actively seeking shareholder support.

Currently, this would cost the group a 15 billion fee to insure its 260 billion worth of toxic loans and also mean the government would increase its stake from 43% to 60%.

Chief executive Eric Daniels is said to be looking into an alternative that would see Lloyds insuring against just 130 billion worth of bad loans, therefore reducing the bank's fees.

Over the past year, Lloyds' shares have ranged from 33p to 298p. Shares in the group were down 5% this morning to 100.65p.

Market makers are predicting a spread of between 60p and 70p. One suggested Lloyds' target share price, if a rights issue went ahead, could be heavily discounted by as much as 40%, down to 60p.

"Lloyds has had a pretty good run on its shares recently. A rights issue would put pressure on the share price," he said.

David Buik, spokesman for BGC Partners, said he would prefer Lloyds to sell assets such as Cheltenham & Gloucester, Clerical Medical and Scottish Widows rather than go ahead with a rights issue.

This would downsize the balance sheet by a similar amount, he added.

"By selling these assets Lloyds could get at least 10 billion and that would be the job done. Private investors are already angry with what has happened with Lloyds. It has always been a boring bank until it got sucked into the deal with HBOS, which saw its share price plummet," he said.

A spokeswoman for Lloyds declined to comment.

I have shorted LLOY yesterday, RSI. I guess u r shorting it as well.

more journo rubbish they certainly know how to make it up, LLOY has so many great options now it certainly won't be a boring bank in future.

It will take time for LLOY to remove all surplus costs in the business post HBOS (not least for political reasons) but once they have done so, the ongoing business should be extremely profitable. With negligible interest currently being paid to depositors and lending margins becoming much healthier across all sectors, their future imo looks bright until the next banana skin appears - and without a large investment banking arm this would seem less likely for LLOY than for RBS or BARC. Always DYOR.

Agree LLOY has much more potential than the others, of course journos with little or no financial expertise can't see it... yet.

hlyeo98

re -I have shorted LLOY yesterday

I do not know how do you managed to do it at the top.

Maybe I shoud not believe a word of your postings

It appears Turner is determined to damage our banks as much as possible before he and his minnions are sent to the dustbin of history. The sooner responsibility for regulation of the financial sector is returned to the Bank of ENGLAND the better.

Another rights issue on the cards - bad news for long term holders - speculators will have a field day!