This could have a 'ripple effect' and threaten the existence of hundreds of small businesses and jobs further down the supply chain. It feels like Groundhog Day when it comes to Brexit as we enter yet another ‘crunch week’. With demand for clothing & footwear plummeting this year due to a lack of social occasions, clothing specialists have been hard hit but some of Arcadia’s more digitally savvy competitors have thrived, posting impressive results as spend has shifted online. Whole Foods CEO John Mackey claimed capitalism cannot be replaced by socialism, stating it is 'the path to poverty'. This led to a collapse in loan growth along with accelerated losses from asset impairments in Lloyds’ non-core assets. I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner. One example is Lloyds Banking Group (LSE: LLOY), whose share price had fallen by almost 50% from the start of the year to 32p at the last close. Financial News Articles for Lloyds Banking Group Plc Ord 10P updated throughout the day. Andy Hornby, the former chief executive of HBOS, and Lord Stevenson of Coddenham, its former chairman, appeared before the Commons Treasury Committee to answer questions about the near-collapse of the bank. British and US regulators demanded the massive cash penalty for what even the bank admitted was “extremely serious” rate rigging. Arcadia’s UK clothing market share has slumped 1.8 percentage points since 2015, to 2.7% in 2020, leaving it at the bottom of the top 10 UK clothing players, from fourth just five years ago, held back by its cumbersome store estate (despite a CVA in 2019) and controversial owner. Lloyds TSB writes off £200m as a result of the US sub-prime mortgage crisis. The collapse came within hours of Philip Green’s Arcadia Group – owner of Topshop, Miss Selfridge and Dorothy Perkins - entering administration, threatening a further 13,000 jobs. If you require any personal advice or personal recommendation, please speak to an independent qualified financial adviser. I’m not sure it will happen, but the economy is grinding to a halt, which impacts credit offtake. The imminent collapse of Sir Phillip Green's Arcadia empire is thought to have played a signifcant part in the growing hesitance of JD Sports to complete the deal. This will impact LLOY. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Whilst there seems to be broad agreement on extending current level of cuts for some time beyond the start of the year, the United Arab Emirates and Kazakhstan are thought to be dissenting. Nunn, who is currently the head of HSBC's high street banking division, is set to take over once he finds an agreement over the date of his departure with HSBC. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under … TSB's future is up in the air after takeover talks between its Spanish owner Sabadell and rival BBVA collapsed. She would be the first woman to hold the post. It owned the plantation between about 1822 and 1854. Meanwhile, the FTSE 250 was down 0.24 per cent to 19,416.95. JUPITER EUROPEAN: Fund that scours the continent for the best businesses that our global winners, MIDAS SHARE TIPS UPDATE: Lockdown is music to ears of investors who bought into instrument retailer Gear4Music, MR MONEY MAKER: Airline shares are prepared for take-off in 2021, let's hope there's clear skies ahead, says JUSTIN URQUHART STEWART. The UK-focused FTSE 250 is also up 0.3 per cent at 19,529. Canadian predator Garda World has extended its £3billion offer to buy security giant G4S, it confirmed this morning. Lloyds Bank South Molton 9.30 AM - 3.30 PM 9.30 AM - 3.30 PM 9.30 AM - 3.30 PM 9.30 AM - 2.00 PM Closed Today Closed Today Closed Today 122 East Street It now has a price-to-earnings (P/E) ratio of 9.3 times and a dividend yield of 10.5%. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. Should the Company and the Arcadia Group's efforts to agree an emergency funding package fail and the Arcadia Group enter into administration, the Company would be interested in participating in any sale process. Lloyds ponies up £50m 'bailout' for clients hit by Carillion collapse. I think we should factor in the risk that dividends might cease to be paid altogether. These reports that the UK could approve the latest vaccine candidate from Pfizer, BioNtech vaccine as soon as this week, while positive, haven’t been enough to support an upbeat tone for markets here in Europe, despite a raft of positive economic numbers from the likes of Japan and China. No liability is accepted by the author, The Motley Fool Ltd or its Officers, or Richdale Brokers and Financial Services Ltd or its Officers, for any investment loss, or any other loss or detriment experienced by any individual for any investment decision, whether consequent to, or in any way related to this content, the provision of which is an unregulated activity. Some links in this article may be affiliate links. Meanwhile Bitcoin hit an all-time high as its surge of more than 170 per cent since the start of 2020 saw it break new ground, touching a peak of $19,808 a coin. President-elect Joe Biden plans to nominate former Fed Chair Janet Yellen to run the Treasury Department. Lloyds Bank Locations Lloyds Bank Norwich Gentlemans Walk 9.00 AM - 4.30 PM 9.00 AM - 4.30 PM 9.30 AM - 4.30 PM 9.00 AM - 2.00 PM Closed Today 9.00 AM - 1.00 PM Closed Today BUSINESS LIVE: FTSE and pound slump as new Covid strain crisis grips; Frasers Group warns on profits; Arcadia sells Evans to Australian firm, Arcadia break-up begins: Plus-size clothing brand Evans carved out of Philip Green's ailing retail empire in £23m deal with Australian group, Mike Ashley's Frasers Group forced to trim back profit forecasts as retailers face much leaner Christmas than had been hoped, Debenhams and Arcadia should NEVER have hit Covid iceberg: By the man who really knows - their ex-boss, Stock markets and pound set for fortnight of turmoil as Brexit deadlock and coronavirus wave threaten economy, Debt 'out of control' at British companies: City titan Xavier Rolet says it could kill the economy - and warns bank loans may have to be cancelled, 'Pure nectar! 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