Co-Operative Bank Plc, a customer- owned British lender, said it still intends to buy branches from Lloyds Banking Group Plc even as it reported a loss on surging loan impairments and weaker capital levels.
Co-Operative Group Ltd. Chief Executive Officer Peter Marks said there are “very material regulatory issues” to its proposed purchase of branches from Lloyds Banking Group Plc, fueling concern the deal may collapse.
Co-Operative Bank Plc Chief Financial Officer James Mack quit after less than two years, fueling speculation the firm’s 750 million-pound ($1.2 billion) purchase of Lloyds Banking Group Plc branches is foundering.
Edith O’Brien, the MF Global Holdings Ltd. assistant treasurer who has become a key figure in tracing the disappearance of as much as $1.6 billion in customer funds, declined to answer questions from House lawmakers.
Micromet Inc. , a 17-year-old biotechnology company with no medicines on the market, is attracting attention from product-hungry drugmakers. The lure: a technology for fighting cancer without using toxic chemicals.
Pfizer Inc. will withdraw its blood cancer drug Mylotarg after 10 years on the U.S. market because studies didn’t prove it works and the treatment was linked to deaths from liver and lung complications.
Co-operative Group Ltd., a mutually owned U.K. food retailer and financial company, is introducing an ethical operating plan that it hopes will set new standards for corporate responsibility on carbon reduction, fair trade and community involvement, the Guardian reported, citing Chief Executive Officer Peter Marks.