Lloyds Banking Group Plc (LON: LLOY), the nation’s largest mortgage lender has surprised the street with better than expected profit numbers for the third quarter of 2020. The Group returned to profit, reporting statutory profit before tax of £1,036 million and statutory profit after tax of £688 million in the third quarter. The bank’s mortgage lending increased by £3.5 billion over the three months to September.
Royal Dutch Shell Plc increases dividend for the third quarter Royal Dutch Shell Plc (LON: RDSA) has announced an increased interim dividend for the Q3 of 2020 of US$ 0.1665 per A ordinary share and B ordinary share. With the announcement of around 4 percent increase in the dividend, the company has reinstated its decades-long commitment to increase shareholder payouts. However, it also marked that its oil production may never recover from the coronavirus pandemic. The company had planned to reduce net debt to $65 billion from $73.5 billion at the end of the third quarter of 2020.
* Pizza Express to cut another 1,300 jobs The restaurant chain, Pizza Express, bracing for a tough winter amid the fear of the second wave of the pandemic has announced to cut 1,300 jobs. The new redundancies are on top of 1,100 job cuts it had announced in August along with the closure of 73 of its restaurants. The latest announced job losses will be spread across the company’s remaining UK locations and will be affecting employees in a variety of roles.