Lloyds Banking Group, in which taxpayers have a 9% stake, is facing questions from the City about any plans to step up its cost-cutting measures. The bailed-out bank is among a number of high street banks reporting their results this week. In February, at the time of its results for 2015, Lloyds said it was ahead of its October 2014 plan to cut costs but provided no further detail. This is because it is more closely linked to the UK economy than rivals with international operations. Analysts at Morgan Stanley said: “We think the focus will be updates to guidance for core UK earnings post-referendum.

Source: The Guardian July 24, 2016 15:43 UTC