Sunday, 19th April 2015

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News & Reports

Sunday newspaper round-up: Lloyds, HSBC, Tesco, Moneysupermarket

Sun 19th Apr 15, 16:45:36

Lloyds Banking Group is facing a legal attack over its calamitous takeover of HBOS in 2008. A class action lawsuit, bringing together more than 6,000 investors that owned shares at the time, has been planned to force the company to release emails and other documents dating back to the deal, "to find out who knew what", according to an inside source cited by the Sunday Times. The claimants, including major UK pension funds and asset managers, believe they lost 400m through the acquisition as they were duped into approving the merger as crucial information about the health of HBOS was withheld to ensure the deal went ahead.

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Sunday share tips: Associated British Foods, SABMiller, Keywords Studios

Buy shares in Associated British Foods, the owner of the Primark budget fashion retail chain, wrote Danny Fortson in the Sunday Times. This autumn, Primark will open its first location across the pond in Boston, with seven more planned in the States and no tweaking of its offering to American tastes in view of the US consumer love of shopping for budget clothes in big box stores, such as Target. Credit Suisse last month cut its forecasts but still set a higher target price at 32.50. America will be a key test, yet something tells me Primark will go down a storm there, Fortson concluded. 5 hours ago

US close: stocks close lower on Chinese regulations and inflation concerns

US stock plummeted on Friday as new Chinese stock-market regulations, rising inflation and fears of a Greek default spooked investors. 2 days ago

Bonds: Yields unchanged as traders digest raft of remarks from Fed speakers

Longer-term US government debt finished the session little changed as traders keyed off of speeches from a raft of Fed policymakers. 2 days ago

FX round-up: Soft data takes edge off dollar strength

Euro/dollar stabilised itself further on Thursday as investors digested the ECB's policy decisions taken on the previous day and a raft of Fed rate-setters weighed in with their individual views on the current outlook for policy. 2 days ago

Matchtech's CEO buys shares showing confidence

The chief executive of Matchtech bought some shares showing confidence in the recruitment agency one week after it reported a drop in its full-year profits. 2 days ago

Week ahead: Greece and Eurogroup meeting in focus

The coming week will see markets focus on the result of the International Monetary Fund-World Bank's spring meetings in Washington D.C.. 2 days ago

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