Daily Business Live

Lloyds confirms Embark deal, declares dividend


7am: Lloyds confirms Embark deal, moves into profit

Lloyds Banking Group has confirmed the £400 million acquisition of Embark, the privately-owned savings and retirement products group, and declared a return to dividend payments.

The bank swung to a first-half profit and announced an interim dividend, boosted by a surging house buying market and improved economic outlook in Britain.

Full story here

Global markets

Wall Street stocks were mixed on Wednesday after the FOMC meeting, which made only minor tweaks from June’s statement.

Chairman Jerome Powell acknowledged that the economy has made progress towards achieving the central bank’s long-term inflation and employment goals, but said “substantial further progress” is needed to require tapering to begin.

The Fed held interest rates unchanged and maintained asset purchases at $120 billion a month, in line with market expectations.

The Dow Jones closed 0.36% lower and the S&P 500 dipped just 0.01% while the Nasdaq rose 0.7%.

Markets in Asia rebounded strongly on reports that Chinese regulators have decided that Chinese firms would be allowed to list in the US as long as they meet listing requirements.

Japan’s Nikkei climbed 0.64% and Hong Kong’s Hang Seng advanced 3.1%. The Shanghai Composite rose 1.4%.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.