lloyds

British banks may require further taxpayer funds, with borrowing needs potentially hitting £25 billion pounds ($39.5 billion) a month, according to a think-tank. The independent New Economics Foundation said that central bank data indicated the banks are facing major funding problems,...

Faced with the news that Britain is still in the midst of a recession, the government announced a new round of stimulus today. The Bank of England will add another 25 billion pounds ($41 billion) to the economy and keep its main interest rate at 0.5 percent for an eighth consecutive month. This...

Bank of England Governor Mervyn King won the fight in Britain to break up the banks that were "too big to fail." Now the big question is: Will Paul Volcker (pictured) get the Obama administration to follow suit? King got a lot of help from European regulators, who called for more and smaller banks...

Merck (MRK) said on Monday that it would acquire Schering-Plough (SGP) for $41.1 billion. Schering-Plough shareholders will receive $23.61 a share, representing a premium of about 34 percent over Schering's Friday's close. The benefits: a bigger pipeline, joint R&D, strategic alliances, and of...

The British government now owns about 65% of Lloyds Banking Group. It has guaranteed almost $360 million in the firm's risky assets in exchange for its stake. According to the AP, "As a condition of the deal, the bank promised to increase lending by 28 billion pounds ($39 billion) over the next two...