CMA launches enquiry into current accounts and SME banking
6th Nov 2014 08:04
The UK competition authority has launched an "in-depth market investigation" into both the personal current account and small business retail banking sectors, which could help 'challenger banks' to grow. Having in July said it was looking at whether to probe the sector, the Competition and Markets A
Read moreJP Morgan sets aside $5.9bn ahead of currency probe
4th Nov 2014 14:52
US banking giant JP Morgan has increased the amount of money set aside for potential litigation costs by $1.3bn (£813m), after revealing its currency trading operations were under investigation by the US Department of Justice (DoJ). The Financial Conduct Authority (FCA) in the UK and the Commodity F
Read moreTuesday broker round-up UPDATE
4th Nov 2014 09:32
Aberdeen Asset Management: Credit Suisse ups target price from 440p to 455p and keeps a neutral rating. Anglo Eastern: FinnCap initiates with a target price of 880p and a buy recommendation. Ashmore: Credit Suisse downgrades to underperform. Barclays: Citi moves target price from 300p to 315p stay
Read moreTuesday newspaper round-up: RBS, US tech firms, UK house prices...
3rd Nov 2014 19:42
Royal Bank of Scotland (RBS) is set to ditch the auditors that reviewed its accounts before, during and after its £45bn taxpayer bailout, the Daily Telegraph said on Tuesday. The bank said Deloitte, which had conducted audits since 2000, will be replaced by Ernst & Young, which would audit its accou
Read moreBanks set aside over £4bn ahead of currency settlement
3rd Nov 2014 15:31
Some of the world's biggest banks have set aside up to $7bn (£4.38bn) in preparation for potential settlements with regulators investigating allegations of manipulation and collusion in foreign exchange markets. Upon releasing its earnings report on Monday, HSBC, Europe's largest bank, announced it
Read moreLondon close: Weak Eurozone manufacturing data drag shares lower
3rd Nov 2014 15:24
Weak European manufacturing data dragged London shares lower on Monday despite a rise in the sector's fortunes in the UK. The Eurozone Markit manufacturing purchasing managers' index (PMI) for October fell to 50.6 from 50.7 previously with both Germany and Italy declining while France improved sligh
Read moreMonday broker round-up UPDATE
3rd Nov 2014 10:47
Aa: Liberum Capital initiates with a target price of 417p and a buy recommendation. Afren: UBS lowers target price from 130p to 115p, keeping a buy recommendation. Anglo American: Nomura reduces target price from 1550p to 1400p, while leaving its neutral rating unaltered. Barclays: Exane ups targe
Read moreNew leverage ratios 'clear the overhang' for UK banks, says JPMorgan
3rd Nov 2014 10:37
JPMorgan Cazenove has welcomed the new leverage-ratio rules from the Financial Policy Committee (FPC), saying that the outcome for UK banks was better than the market had expected. Analysts reiterated their 'overweight' positions on Lloyds and Barclays, but kept 'neutral' ratings for RBS, HSBC and S
Read moreLow-income earners to receive pay rise as firms commit to living wage
2nd Nov 2014 14:31
UPDATE: On Monday KPMG released a structural analysis of hourly wages and current trends in household finances. Thousands of low-paid British workers are set to receive a pay rise after 1,000 companies pledged to boycott the minimum wage and pay at least the living wage. Citizens UK created the Li
Read moreLondon close: Stocks end higher after BoE announcement on leverage ratios
31st Oct 2014 16:35
Banking stocks drove the FTSE to a strong finish on Friday after the Bank of England (BoE) unveiled softer-than-expected requirements for banks' leverage ratios and also thanks in part to an unexpected boost to stimulus from the Bank of Japan announced overnight. The top tier closed the day 82.92 po
Read moreFTSE 100 movers: Barclays and RBS rise after BoE unveils softer-than-expected requirements for leverage ratios
31st Oct 2014 16:11
Banking stocks, already bolstered by stronger-than-expected quarterly results from RBS, received another big lift on Friday afternoon as the Bank of England unveiled softer-than-expected requirements for leverage ratios. The leverage ratio, a key gauge of a bank's ability to cushion itself against l
Read moreSector movers: Banking stocks surge on leverage ratio rules, RBS results
31st Oct 2014 15:02
Banking stocks, already bolstered by stronger-than-expected quarterly results from RBS, received another big lift on Friday afternoon as the Bank of England unveiled softer-than-expected requirements for leverage ratios. The leverage ratio, a key gauge of a bank's ability to cushion itself against l
Read moreFriday broker round-up UPDATE
31st Oct 2014 09:36
Afren: Deutsche Bank lowers target price from 110p to 105p, leaving its hold recommendation unaltered. Aviva: Barclays ups target price from 397p to 420p and reiterates its equal-weight rating. Barclays: Deutsche Bank lowers target price from 300p to 295p and leaves its buy recommendation. Country
Read moreBroker tips: Shell, Barclays, British Land, St James's Place
30th Oct 2014 12:28
Broker Charles Stanley has lifted its recommendation for Royal Dutch Shell from 'accumulate' to 'buy', saying that the company should be resilient to the recent slump in oil prices. The broker said Shell was "well-placed to improve its returns and deliver its objectives" over the medium term in spit
Read moreLondon midday: Miners, oil stocks drag FTSE lower after hawkish Fed
30th Oct 2014 11:33
Heavy falls in the resource sectors on a stronger dollar ensured that London's stock market was firmly in the red on Tuesday, after the withdrawal of stimulus by the Federal Reserve. Blue chips Shell, Barclays and BT Group were also lower after a poor reaction to their latest results, with the FTSE
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