Sector movers: Banks rise as Goldman lifts targets
28th Jan 2013 15:27
Banking stocks were performing well on Monday afternoon after Goldman Sachs raised target prices across the sector. Goldman labelled HSBC as a 'conviction buy' and upped its target price from 820p to 860p. Even RBS was making gains despite the US bank downgrading the stock to 'sell'. Nevertheless,
Read moreFTSE 100 movers: Banks rise as miners head lower
28th Jan 2013 14:58
Banks were putting in a solid performance on Monday after Goldman Sachs raised target prices across the sector, led by the likes of Aberdeen Asset Management and Barclays, and offsetting declines in the mining sector. BAE Systems was higher after Societe Generale moved target price from 310p to 35
Read moreSunday newspaper round-up: Barclays, Carney, BP
27th Jan 2013 16:23
Barclays is planning a swoop on the financial markets to raise billions of pounds of new capital ahead of a showdown with the Bank of England. Sources close to the bank say it could launch the move within weeks to kill off questions about its financial strength. All Britain's banks are on edge as th
Read moreBarclays forced to reveal staff on LIBOR list, court hears
24th Jan 2013 14:54
A British judge declared 'the cat is out of the bag' as Barclays was forced to identify senior staff linked to investigation into rate fixing, reports revealed Thursday. Former Barclays Chief Executive Officers Bob Diamond and John Varley were among the group of 104 of those named in connection to
Read moreLondon midday: Markets boosted by economic data from Europe and China
24th Jan 2013 11:20
London's benchmark index was registering decent gains by Thursday lunchtime as earlier concerns about disappointing earnings from Apple were outweighed by better-than-expected economy data from Europe and China. Investors began today's session in a cautious fashion with the FTSE 100 struggling to
Read moreBarclays cuts at least 70 jobs in Asian investment banking, reports say
24th Jan 2013 09:05
Barclays is slashing at least 70 jobs in Asian investment banking as the company undergoes a major shake-up, according to reports Thursday. The cuts are part of a global strategic review started by new Chief Executive Antony Jenkins, sources told Reuters. It was understood total redundancies coul
Read moreWednesday broker round-up UPDATE
23rd Jan 2013 07:05
Aberdeen Asset Management: Societe Generale downgrades to hold, while its target price of 375p is not altered. Amara Mining: Investec reduces target price from 89p to 83p and reiterates a buy recommendation. Associated British Foods: Jefferies raises target price from 1365p to 1650p keeping a hold
Read moreWednesday newspaper round-up: Barclays, Rolls-Royce, Bank of England...
23rd Jan 2013 06:59
Barclays is planning to offshore hundreds of roles at its troubled investment banking unit to India in a bid to cut costs, The Independent has learnt. The bank is understood to have dispatched a team to recruit and train new staff there to replace workers in both London and New York. Separately, the
Read moreLondon midday: Markets edge higher on light volumes
21st Jan 2013 11:41
- Admiral leads Footsie higher - Wall Street closed for MLK Day - BoJ expected to announce stimulus; Eurogroup meet in Brussels Stock markets across Europe were making small gains on Monday morning with volumes said to be light in the absence of trading on Wall Street later on. "European equities
Read moreBarclays executive quits amid claims division is 'out of control'
21st Jan 2013 09:11
A Barclays executive has quit amid claims he destroyed an explosive report which labelled the bank 'out of control'. Andrew Tinney, Chief Operating Officer of the bank's private investment division, Barclays Wealth, is accused of shredding the document at his home in Surrey, the Mail on Sunday repo
Read moreMonday newspaper round-up: Barclays, RBS, Cyprus bailout...
21st Jan 2013 06:56
Barclays was hit by further damaging revelations about the culture that was allowed to flourish in certain parts of the bank yesterday after it emerged that a senior executive had suppressed a damaging report into Barclays Wealth in America. The report, compiled by consultancy firm Genesis Ventures,
Read moreAbide by new rules or leave, says Barclays boss
17th Jan 2013 09:28
Barclays Chief Executive Antony Jenkins has given employees an ultimatum - adhere to the bank's strict new ethical code of conduct or find another job. In a memo to the bank's 140,000 employees, obtained by Sky News, Jenkins outlined five core values to be followed: respect, integrity, service, ex
Read moreBroker tips: UK banks, Vodafone, Anglo American
16th Jan 2013 11:05
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. "In the context of the risk rally we see the UK domestic banks as well positioned relative to Italian and Spanish banks, but we would prefer to own
Read moreBroker snap: Nomura prefers French/Swiss banks over UK lenders
16th Jan 2013 11:02
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. Last month's Anchor report by Nomura highlighted its long-term reason to be cautious on the UK domestic bank sector and favour the UK Asia-focused
Read moreDaily Mail reports RBS facing prospect of 500m pound fine
16th Jan 2013 08:25
The Daily Mail's online incarnation, the Mail Online, has reported rumours that the Royal Bank of Scotland may be facing the prospect of a 500m pound fine over its alleged role in the LIBOR interest-rate rigging scandal. The news agency suggests that the bank is in talks with watchdogs in the UK an
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