Barclays lands record fine for fund mis-selling
18th Jan 2011 10:53
Barclays Bank has been fined £7.7m and will have to make redress of £60m to customers after "very serious" mis-selling of two investment funds. The Financial Services Authority says it is the largest fine it has ever imposed for retail failings. "The fine reflects Barclays' position as one of the
Read moreTuesday newspaper round-up: BRICs, Inflation, GlaxoSmithKline...
18th Jan 2011 06:33
Goldman Sachs has issued a short-term alert on China and India as inflation rears its ugly head, advising clients to rotate into Wall Street and Old World bourses as a safer bet over coming months. "We're not as tactically positive on the BRICs as we have been," said Tim Moe, the bank's chief Asia-
Read moreSunday newspaper round-up: BP, Smith & Nephew, Interest rates...
16th Jan 2011 10:58
Russia's Prime Minister, Vladimir Putin, has promised to give BP "the most favourable tax treatment" in the Arctic as its £10bn deal with the Kremlin was greeted with cautious optimism by investors yesterday. Late on Friday night, BP agreed to issue £5bn of shares to Russian state-backed oil compa
Read moreSector movers: Banks wanted as eurozone fears ease
12th Jan 2011 15:25
The banking sector is performing well Wednesday as eurozone debt contagion fears recede. HSBC is the best performing financial, helped by a "buy" recommendation from Barclays Capital, but fellow banks Standard Chartered and Barclays are also wanted. The sector responded positively to the outcome o
Read moreWednesday newspaper round-up: J Sainsbury, Oil exploration, Bob Diamond...
12th Jan 2011 06:37
J Sainsbury has overtaken Asda as Britain's second-largest supermarket, seven years after it lost the position. Industry figures yesterday revealed that a strong Christmas performance by the London-based grocer enabled it to overtake its Leeds rival, capping a dismal 2010 for Asda. Sainsbury's sha
Read moreLondon close: Strong gains for FTSE 100
11th Jan 2011 16:51
Share prices edged back from earlier highs ahead of the close, but still finished with good gains as fears over European sovereign debt contagion recede in the wake of a show of support for eurozone bond issues from Japan. It has been a good day for banks, with Societe Generale issuing a bullish no
Read moreLondon afternoon: Good day for bankers
11th Jan 2011 14:11
Share prices levelled out over the lunch time session, but investors remain in good heart as fears over European sovereign debt contagion recede in the wake of a show of support for eurozone bond issues from Japan. It has been a good day for banks, with Societe Generale issuing a bullish note on th
Read moreLondon midday: FTSE 100 adds more gains
11th Jan 2011 12:07
The top share index is now well clear of the 6,000 point mark after building on earlier gains. Banks move higher after the government back-tracked on the question of bonuses. As a trade-off for no additional taxes on the expected £7bn of UK bonuses this year, the banks are in talks to raise their b
Read moreBarclays' chief Diamond talks of bonus 'restraint'
11th Jan 2011 11:22
Barclays' new chief executive Bob Diamond has defended bankers' bonuses and refused to confirm whether he will forgo his payout this year, thought to be worth up to £8m. Diamond, the former head of investment banking arm Barclays Capital promoted on 1 January, also told a Treasury Select Committee
Read moreLondon open: Footsie back above 6,000
11th Jan 2011 08:50
UK blue chips have raced away this morning led by the banks as the government caved in on the issue of bonuses. As a trade-off for no additional taxes on the expected £7bn of UK bonuses this year, the banks are in talks to raise their business lending by 10%, or £20bn, to £200bn. Shares in Barclays
Read moreBroker tips for 2011
7th Jan 2011 15:37
Analysts are predicting a bullish year for the UK market on hopes a global economic recovery will kick in. Here are a few of the companies brokers think will lead the advance. Standard Life predicts the FTSE 100, which has risen around 25% since July, could rise by a further 15% to 6,900 by the end
Read moreBanks to proceed with bonus bonanza
7th Jan 2011 08:31
City bankers will pocket billions of pounds in bonuses this year as bank bosses reject pleas from ministers to slash payouts. The total figure may be less than it would have been if the government hadn't put pressure on the banks, but that's all, according to the BBC. Quite how much of an impact i
Read moreLondon close: FTSE 100 storms past 6,000
4th Jan 2011 16:36
The top share index lost some if its strong early gains ahead of the close, but still finished above the psychologically important 6,000 point mark on a storming start to 2011. Oil giant BPwas boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's G
Read moreLondon afternoon: Triple digit rise for Footsie
4th Jan 2011 14:31
Bid speculation is adding froth to a London stock market already playing catch-up with European and US markets that posted strong gains yesterday. Oil giant BPis boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's Gulf of Mexico oil spill, which s
Read moreFTSE 100 movers: Banks push higher
4th Jan 2011 13:40
Banks are helping to push the index higher on the back of positive economic data published yesterday. RBS, Barclays and Lloyds are all ahead. Bid rumours have boosted BP with talk that Shell has considered an offer for the giant oil company. Silver miner Fresnillo continues to rise on the bac
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