Wednesday 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
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreTuesday broker round-up UPDATE
15th Jan 2013 07:17
African Barrick Gold: Investec lowers its target price from 526p to 405p, while upgrading from hold to buy. ARM Holdings: Morgan Stanley raises its target price from 725p to 911p, while downgrading to equal-weight. Investec ups target price from 800p to 900p and downgrades from buy to hold. Aurum
Read moreBarclays to cut bonus payouts
14th Jan 2013 15:08
Barclays is set to slash investment bankers' bonuses for 2012 in order to cut back total pay for the year by up to 20 per cent on average, Reuters reported Monday. The UK-based bank is finalising bonuses for last year as its new boss seeks to tackle high costs, sources told the news agency. The ov
Read moreLondon close: Markets end the week with slight gains
11th Jan 2013 17:04
- Japan launches new stimulus package - Chinese inflation rises in December - Tullow misses production forecasts in 2012 UK stocks finished with slight gains on Friday on the back of plans for economic stimulus in Japan, as markets were able to shrug off some weakness in the mining sector. The F
Read moreFTSE 100 movers: IAG performs strongly after upgrade
11th Jan 2013 14:31
British Airways and Iberia owner IAG was in demand throughout the day after UBS upgraded the stock from 'neutral' to 'buy', following its underperformance against other European airline shares under the broker's coverage. "We think that IAG could be the laggard most likely to outperform in 2013 sh
Read moreLondon midday: Stocks rise as Japan attempts to boost growth
11th Jan 2013 11:31
- Japan launches new stimulus package - Chinese inflation rises in December - UK production misses the mark in November Markets were making small gains on Friday morning as hopes for the Japanese economy offset concerns about price rises in China and a downbeat reading of UK production. News from
Read moreLondon open: Markets cautious after Chinese inflation figures
11th Jan 2013 08:24
UK markets opened tentatively on Friday morning, making only slight gains as investors digested inflation data in China and economic stimulus in Japan. Chinese inflation rose to 2.5% in December as cold weather resulted to a increase in food prices. "While the figure remains well below the inflatio
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