Bruce Packard

Barclays sank into the red in the first quarter on massive exceptional charges, the British bank said on Thursday as it prepared to face a shareholder backlash over high executive pay.

HONG KONG/LONDON (Reuters) - Standard Chartered Plc <STAN.L> said it had cut 800 jobs this year to restrain rising costs after making record first quarter profits and revenue on the back of strong Asian markets like India and Hong Kong.

HSBC in talks to buy majority stake in South Africa's Nedbank from Old Mutual for $6.8B. British bank HSBC Holdings PLC said Monday it is in talks with financial group Old Mutual PLC to buy a controlling stake in Nedbank Group Ltd. of South Africa in a deal worth as much as $6.8 billion.

Lloyds Banking Group H1 net profit down 92 pct but revenues rise, bad loans drop. Part-nationalized Lloyds Banking Group PLC reported Wednesday that first-half net profit fell 92 percent from a year ago, when it booked a big one-off gain, but revenue grew and bad loans were almost halved from a year ago.

LONDON (Reuters) - Bailed-out lender Lloyds Banking Group <LLOY.L> has agreed to sell its private equity business to buyout firm Coller Capital, accelerating its plan to offload peripheral units and refocus on its core lending activities.

Emerging markets bank Standard Chartered announced a big investment in Agricultural Bank of China's flotation in Hong Kong next month, saying on Wednesday it will buy 500 million dollars' worth of shares.

Barclays 1st quarter profit up 29 pct as bad loans ease, but investment banking income drops. British bank Barclays PLC reported Friday that profit rose 29 percent in the first quarter due to fewer bad loans, but its share price slumped as a drop in investment banking income alarmed investors.

LONDON (Reuters) - Britain launched a probe into alleged fraud by Goldman Sachs <GS.N> four days after the United States shocked markets by accusing Wall Street's most powerful investment bank of duping clients.

LONDON/FRANKFURT (Reuters) - Goldman Sachs <GS.N> may face legal action from German bank IKB <IKBG.N> and could be pursued by regulators in Germany and Britain after the U.S. investment bank was accused of duping clients.

Lloyds Banking Group expects to report a profit for 2010, says impairments less than expected. Britain's Lloyds Banking Group PLC said Friday it expects to report a profit this year as trading has so far been strong and provisions for bad assets are not as large as previously forecast.