Barclays to be hit by US lawsuit over 'dark pool' fraud
25th Jun 2014 20:27
Barclays is likely to be subject to a lawsuit from the New York Attorney General related to alleged fraud in the bank's 'dark pool' equity-trading business. According to unnamed sources briefing the media, cited as a person familiar with the matter, the legal case will allege fraudulent activity at
Read moreBroker tips: Barclays, BG Group, Marks & Spencer, IP Group
23rd Jun 2014 13:04
Canaccord Genuity has upgraded Barclays from 'hold' to 'buy', hailing the bank's recent restructuring efforts. Analyst Arun Melmane said that plans, which include reducing the size of the investment bank to 30% of risk weighted assets from the current 51%, should contribute to a re-rating of the sh
Read moreCanaccord upgrades Barclays on restructuring plans
23rd Jun 2014 09:26
Canaccord Genuity has upgraded Barclays from 'hold' to 'buy', hailing the bank's recent restructuring efforts. Analyst Arun Melmane said that plans, which include reducing the size of the investment bank to 30% of risk weighted assets from the current 51%, should contribute to a re-rating of the sh
Read moreSunday newspaper round-up: Tesco, AstraZeneca, Asos
22nd Jun 2014 13:02
Some of Tesco's biggest shareholders have complained to the retailer's senior independent director (Sid) about its strategy and management, the Sunday Times said. An unidentified top 10 shareholder said it expressed its concerns with the Sid, Patrick Cescau, and not Tesco's Chairman, Sir Richard Bro
Read moreLondon pre-open: Flat start ahead of May public finance figures
20th Jun 2014 07:40
A flat start is expected on the FTSE 100, although there could be a very modest gain of a point or two, following yesterday's close of 6,808.11. That follows a mixed finish in the US last night and as investors balance Wednesday's Fed statement with nerves about the situation in Iraq. According
Read moreBarclays' head of wealth division resigns
19th Jun 2014 17:14
Barclays' Chief Executive of the wealth management division, Peter Horrell, is stepping down from the bank later this year. His resignation comes as part of an overhaul of the UK lender's wealth operations. Horrell, who has been with the bank for 23 years, has been in the role since last September
Read moreSunday newspaper round-up: TSB float, Barclays, Carphone Warehouse
8th Jun 2014 16:25
Lloyds Banking Group will price TSB at up to £1.44bn when it floats the new bank on the stock market - 10% below the new bank's book value, the Sunday Telegraph said. The valuation is designed to ensure a smooth reception for the initial public offering, making the bank priced "to go". Lloyds thinks
Read moreTwo Great Portland directors sell stock after share awards
6th Jun 2014 14:56
Two directors at Great Portland Estates sold a combined £1.6m in stock, the property company said on Friday. After achieving performance targets set in the firm's long-term incentive plan in 2011, Chief Executive Toby Courtauld and Portfolio Director both sold over half of the shares that were awar
Read moreFTSE 100 movers: Smith & Nephew leads top-tier index higher on M&A reports
5th Jun 2014 14:59
M&A speculation continued to boost the share price of Smith & Nephew on Thursday, as another company was reported to be interested in the medical devices firm. According to Bloomberg which cited people familiar with the matter, US peer Medtronic is in the early stages of preparing to make a bid for
Read moreBanks underpay PPI compensation by £1bn, report claims
5th Jun 2014 09:16
Banks have underpaid compensation for mis-sold payment protection insurance (PPI) policies by about £1bn, according the BBC on Thursday. The customers affected had PPI on credit cards issued by Barclays, MBNA, Capital One and Lloyds Banking Group. All the banks involved have said they will make ev
Read moreWednesday broker round-up UPDATE
4th Jun 2014 09:28
Advanced Computer Software: Panmure Gordon ups target price from 139p to 155p and stays with its buy recommendation. Avacta: Numis shifts target price from 1.9p to 2p and retains a buy recommendation. Balfour Beatty: Westhouse Securities reduces target price from 302p to 220p keeping its neutral r
Read moreBarclays begins investment banking cuts
3rd Jun 2014 10:05
Barclays has begun to implement the first of the 7,000 job cuts at its investment banking (IB) arm, as part of 19,000 across the bank. The investment bank has made the first few hundred redundancies, according to Reuters, with cuts mostly made in its fixed income, currencies and commodities (FICC)
Read moreMorgan Stanley says sell defensives and buy cyclicals and high beta
28th May 2014 16:17
In a note entitled 'Don't Panic, Sell Staples', Morgan Stanley's European team has perceived a "compelling opportunity" for investors to start selling defensives and rotate into oversold high beta or cyclical stocks. Figuring that the 'Great Rotation' of 2014 "hasn't occurred at the asset allocatio
Read moreLondon close: FTSE dips as traders eye elections in Europe and Ukraine
23rd May 2014 16:59
- FTSE closes down 4.81 points to 6,815.75 - Sentiment weighed by Bank Holiday, elections, Ukraine - US new home sales rise techMARK 2,758.00 +0.51% FTSE 100 6,815.75 -0.07% FTSE 250 15,706.03 +0.20% It was a negative finish for UK stocks in the final session of the week, with investors focused on
Read moreFTSE 100 movers: SABMiller retreats on profit taking after strong results
23rd May 2014 15:41
SABMiller retreated following yesterday's strong rise, which came on the back of a strong set of annual results. The group posted a 2% rise in adjusted pre-tax profit to $5,712, while the dividend was increase to 105 cents, up from 101 cents a year earlier. Sector peer Diageo tracked the stock lo
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