London open: Sell-off continues as UK resource stocks tank
12th Dec 2014 08:42
The dramatic sell-off on the FTSE 100 continued into its fifth straight day on Friday as a weak finish on Wall Street and disappointing data from China hammered already-fragile sentiment on the market. London's benchmark index was down a staggering 1.3% at 6,377 early on, dropping below the 6,400 le
Read moreFriday newspaper round-up: Water bills, Barclays, US spending bill...
12th Dec 2014 06:52
The Telegraph has said that household water bills across England and Wales are to fall by 5% in real terms by 2019-2020 following a decision by Ofwat. "The ruling will almost certainly hit the profits of the UK's water companies," the paper said. New York's financial regulator is looking at whether
Read moreSunday newspaper round-up: BP, Sainsbury, Premier Foods
7th Dec 2014 17:59
BP will shed middle managers and put projects on hold as it deals with the falling price of oil, the Sunday Times reported. Finance Director Brian Gilvary told the paper headcounts were falling across all operations and that it would cut the estimated price of oil it uses for budgeting. Gilvary said
Read moreBanks may be understating the level of fraud in the banking system, says Tyrie
7th Dec 2014 13:30
Andrew Tyrie, Chairman of the Treasury Committee, has written to some of the UK's major banks after the Committee heard evidence last month that the figures published by banks may be understating the level of fraud in the banking system. In the letter, thought to be addressed to Barclays, HSBC, Lloy
Read moreSector movers: UK banking stocks rebound after strong US jobs report
5th Dec 2014 14:37
UK banking stocks were on the rise on Friday, bouncing back after taking a hit earlier in the week following the Autumn Statement, with market sentiment helped by a much better-than-expected US jobs report. Global stock markets jumped after the US Labor Department revealed that monthly non-farm payr
Read moreSunday newspaper round-up: Balfour Beatty, Canary Wharf, Vodafone
30th Nov 2014 15:25
Balfour Beatty could be broken up as John Laing Infrastructure Fund considers a billion-pound bid for the company's investment arm, the Sunday Times reported. John Laing is interested in bidding for Balfour's 60 private finance initiative (PFI) contracts. It would leave Balfour with a business worth
Read moreBarclays to unveil video banking service
30th Nov 2014 12:17
Barclays is set to launch a video banking service to some of their customers from next month. The service, the first of its kind in the UK, will be available from 8 December and will allow premier account customers to speak securely to bank staff at any time of the day. Steven Cooper, chief executi
Read moreThursday broker round-up
27th Nov 2014 10:15
Amlin: Numis upgrades to 'buy' with a target price of 535p. Amerisur Resources: PeelHunt lowers target price from 58p to 50p and reiterates a 'hold' recommendation. Associated British Foods: Citi raises target price from 3100p to 3700p and maintains its 'buy' recommendation. Avingtrans: FinnCap up
Read moreUS Justice Department to interview London forex traders over rigging
25th Nov 2014 09:11
US Department of Justice prosecutors are stepping up their major investigation into banks' rigging of the forex markets, conducting interviews with London traders in the coming weeks. Officials from the US Department of Justice will interview current and former bank staff at several UK banks as part
Read moreBarclays hires two new RBS corporate bankers
24th Nov 2014 14:35
Barclays have appointed to corporate bankers from the Royal Bank of Scotland (RBS) to aid its expansion in Dubai, according to private sources. Sahibzada Masroor Ali and Joaquin Eliason were both hired, Bloomberg has reported. Ali was previously the head of network client coverage for the Middle Ea
Read moreLondon open: UK markets pause at two-month high, but Petrofac plummets
24th Nov 2014 08:24
UK stocks opened broadly flat on Monday with markets pausing for breath after hitting a two-month high last week. The FTSE 100 was trading down just 0.04% at 6,748 in early deals, with oilfield services group Petrofac providing a drag after a profit warning. The index finished Friday at 6,750.76, a
Read moreTuesday broker round-up
18th Nov 2014 09:42
Aggreko: HSBC raises target price from 1550p to 1650p and maintains a neutral rating. Al Noor Hospitals: Citi initiates with a target price of 1240p and a buy recommendation. Barclays: Credit Suisse ups target price from 230p to 250p and keeps a neutral rating. Bodycote: JP Morgan cuts target pric
Read moreFTSE 250 movers: St. Modwen climbs as Electrocomponents slides
13th Nov 2014 15:50
St. Modwen Properties rose after announcing that its 50/50 joint-venture French partner Vinci has been granted planning permission to redevelop the 57-acre New Covent Garden Market site in south London. The major 10-year project will see the delivery of over 500,000 square feet of new state-of-the-a
Read moreBarclays faces larger fine as New York DFS seeks more 'severe' penalty
13th Nov 2014 12:20
Barclays may be facing a much larger regulatory fine for forex rigging because New York's Department of Financial Services (DFS) refused to join with other regulators in agreeing a group settlement with the bank. New York's chief banking regulator, Benjamin Lawsky, told Barclays last week that he wo
Read moreLondon close: UK stocks snap winning streak on banking fine, BoE outlook
12th Nov 2014 16:20
News of a big fine in the banking sector and gloomy comments from the Bank of England (BoE) weighed on UK equities on Wednesday, with London's stock market finishing lower for the first time in six sessions. A weak start on Wall Street was also pressuring stocks as the benchmark S&P 500 and Dow Jone
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