Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
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Kevin Winter/Getty Images
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Michaels confirms security breach; says about 2.6M cards used in its stores may be affected Apr 17th
NEW YORK, N.Y. – Michaels Stores Inc. said Thursday that about 2.6 million cards, or about 7 per cent of all debit and credit cards used at its namesake stores, may have been affected in a security breach.
The nation’s largest arts and crafts chain said its subsidiary Aaron Brothers was .... More »
UK investment authorities give go ahead for Lloyds share sale
– canadianbusiness.com
LONDON – Britain’s investment authority says it has given the go-ahead for more shares to be sold in Lloyds — a banking group that had to be bailed out during the financial crisis.
U.K. Financial Investments, the arm of the British government which manages the country’s stakes in Lloyds and the Royal Bank of Scotland, announced Tuesday it was selling 7.5 per cent of Lloyds’ ordinary share capital. Following its second stake sale to financial institutions, the government will own only 25 per cent of Lloyds.
At the current share price, the government stands to raise 4.2 billion pounds ($6.7 billion).
The British government injected billions of pounds into its banks to shore up the system during the financial crisis. Lloyds has been expressing confidence recently that its recovery is ahead of schedule.
The post UK investment authorities give go ahead for Lloyds share sale appeared first on Canadian Business.
U.K. Financial Investments, the arm of the British government which manages the country’s stakes in Lloyds and the Royal Bank of Scotland, announced Tuesday it was selling 7.5 per cent of Lloyds’ ordinary share capital. Following its second stake sale to financial institutions, the government will own only 25 per cent of Lloyds.
At the current share price, the government stands to raise 4.2 billion pounds ($6.7 billion).
The British government injected billions of pounds into its banks to shore up the system during the financial crisis. Lloyds has been expressing confidence recently that its recovery is ahead of schedule.
The post UK investment authorities give go ahead for Lloyds share sale appeared first on Canadian Business.
