The Treasury is to sell off a stake of up to 5% in Lloyds Banking Group over the next six months raising about �3 billion. Taxpayers still own 25% of the group, which also includes Halifax, after its �20 billion rescue during the financial crisis.
Wage growth in the UK is picking up, figures from the Office for National Statistics (ONS) indicate. In the August-to-October period, average earnings excluding bonuses were up 1.6% from a year earlier.
George Osborne hopes to raise �3bn by selling another chunk of the government's stake in Lloyds Banking Group in a move that will test investor appetite for shares in the part-nationalised bank.
(Adds bonus comments from FT interview). Dec 17 (Reuters) - The 500 million pounds (US$783.70 million) Barclays PLC set aside to settle allegations of rigging the foreign exchange market will not be enough, the bank's Chief Executive Antony Jenkins said ...
WASHINGTON - Janet L. Yellen, the Federal Reserve chairwoman, said Wednesday that the Fed still plans to start raising interest rates next year, but it will be patient and does not expect to begin the process any earlier than April.