HSBC imposes hiring and pay freeze
1st Feb 2016 11:07
(ShareCast News) - HSBC froze pay and hiring at its consumer and investment banking units as part of its plans to cut as much as $5bn from its cost base by the end of 2017, Bloomberg reported citing a spokesperson for the lender. The decision, which was announced to staff on 29 January, followed an
Read moreBarclays, Credit Suisse reach settlement over probe into dark-pools
1st Feb 2016 08:48
(ShareCast News) - The New York Attorney General was set to fine Barclays $70m (£49m) for misleading investors about its so-called 'dark-pool' trading venues, the BBC reported citing the New York Attorney General´s office. Dark pools are private trading venues that allow clients to retain their iden
Read moreBroker tips: PZ Cussons, Vodafone, UK banks
26th Jan 2016 13:06
(ShareCast News) - PZ Cussons has achieved a "solid" first half given the challenges, according to Investec. The consumer goods company reported a 0.2% dip in reported revenue to £385.9m in the first half due to foreign exchange headwinds. Pre-tax profit fell 3.7% on a reported basis to £42.1m. The
Read moreUBS ups RBS to 'buy' as it re-initiates coverage on UK banks
26th Jan 2016 09:02
(ShareCast News) - UBS re-initiated coverage on the five large UK banks, backed by new models and analytical support. It upgraded Royal Bank of Scotland to 'buy' from 'neutral', cutting the target price to 350p from 363p. UBS argued that until now, the bank's small index weight - 0.6% of the FTSE 1
Read moreFTSE 100 movers: Investors not happy with Kingfisher's transformation programme
25th Jan 2016 14:05
(ShareCast News) - The FTSE 100 started the week in the red, with the blue chip market down 21.22 points (0.36%) to 5,878.79 by mid-afternoon Monday. Shares in Kingfisher dropped after the B&Q owner announced a five-year transformation programme on Monday, saying it plans to deliver a £500m sustaina
Read moreLloyds and other lenders set to announce fresh PPI provisions, report claims
25th Jan 2016 10:20
(ShareCast News) - Britain's largest lenders are preparing to set aside billions of more pounds for provisions against the payment protection insurance mis-selling scandal, according to reports over the weekend. Insiders from Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander
Read moreBarclays to announce up to 1,200 lay-offs
21st Jan 2016 12:49
(ShareCast News) - Barclays told staff at its investment bank on Thursday that it would cut up to 1,200 positions, as part of its plans to strengthen its focus on those regions and market segments in which it could best compete. However, it aspired to remain a so-called "bulge-bracket investment ban
Read moreBarclays to let investment bankers go in London and New York
20th Jan 2016 16:09
(ShareCast News) - Barclays said it would cut investment banking jobs in London, New York and across Asia, in places such as Hong Kong and in Australia, Bloomberg reported. The lay-offs were part of a restructuring plan, the lender said, with a smaller 'bonus' pool, of possibly about 10%, having als
Read moreBarclays said to attract interest for Iberian credit card business
19th Jan 2016 14:43
(ShareCast News) - Barclays has reportedly attracted the interest of Spain's Santander and US private equity group Apollo, as it looks to offload its credit card operations in Spain and Portugal. Reuters cited sources as saying the bank was putting its Spanish and Portuguese Barclaycard operations u
Read moreBarclays said to be looking to scale back Africa ops
18th Jan 2016 14:59
(ShareCast News) - Barclays is reportedly drawing up plans to sell part of its 62% stake in Barclays Africa Group, the entity that houses most of its African business. According the Wall Street Journal, the move - which marks a significant turnaround for Barclays - is part of a plan by new chief exe
Read moreLloyds downgraded on Exane's bleak outlook for sector
13th Jan 2016 08:49
(ShareCast News) - Exane BNP Paribas has downgraded Lloyds Banking Group from 'neutral' to 'underperform' and reiterated its 'underperform' rating for Barclays on a bleak operational outlook for UK banks. In a note to investors on Wednesday, it said comments from the Department for Business, Innovat
Read moreBarclays sells indices business to Bloomberg for £520m
16th Dec 2015 12:10
(ShareCast News) - Barclays has agreed to sell its benchmark indices business, Barclays Risk Analytics and Index Solutions (BRAIS) to Bloomberg LP for around £520m. Barclays Risk Analytics and Index Solutions (BRAIS) incorporates the bank's benchmark indices, including the Barclays Aggregate family
Read moreBarclays may sell part or all of its African operations
16th Dec 2015 08:23
(ShareCast News) - Barclays may sell a part or all of its African operations, breaking with a hundred years of history on that continent. The bank is studying the sale as part of a review put in place by its newly arrived chief, Jes Staley, the Financial Times reported. -- More to follow --
Read moreBarclays' Staley said to be considering deeper cuts at investment bank
7th Dec 2015 09:41
(ShareCast News) - Barclays' new chief executive Jes Staley is reportedly considering deeper cuts at the bank's securities unit that could see an additional 20% of bankers lose their jobs. Bloomberg cited people familiar with the matter as saying the bank is looking to eliminate jobs in Asia and the
Read moreBarclays to 'cut investment bank staff by another 20%'
6th Dec 2015 15:23
(ShareCast News) - Barclays is planning to cut its investment bank staff by an extra 20%, according to reports. The majority of the loses will be in Asia and its global cash equities business, people with knowledge of the situation told the Sunday Morning Herald. The bank's Asia securities division
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