News in brief: Australian banks line up for Lloyds, Synthomer paints it black as profits sink
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At least five big Australian banks have emerged as potential buyers of Lloyds’ major operations in the country with a price tag of at least A$1 billion (£590 million).
Westpac, National Australia Bank, ANZ, Commonwealth Bank and Macquarie have expressed interest in Lloyds’ asset finance and commercial lending units. The state-backed bank is selling non-core businesses.
Synthomer paints it black as profits sink
Paint chemicals firm Synthomer today admitted weak demand from Europe had hit first-half profits.
The company, formerly known as Yule Catto, said pre-tax profits had fallen to £48.6 million from £54.2 million in the same period in 2012, a drop of over 10%. Underlying sales fell 7.5% to £558.3 million. However, shares in the FTSE 250 company rose 2.3p to 208.3p.