Hunt mulling windfall tax for banks - report
19th Oct 2022 07:11
(Sharecast News) - New chancellor Jeremy Hunt is considering upping the amount of tax paid by banks as he looks to plug funding gaps, it was reported on Wednesday.
Read moreSunday newspaper round-up: Banks, Asos, UK defence spending
16th Oct 2022 18:32
(Sharecast News) - The Chancellor, Jeremy Hunt, may consider a windfall tax on banks that could raise as much as £90bn. Hunt has indicated that all options to balance the books are under review and he urgently needs to restore the UK's credibility. Just during the previous week, Bank of England deputy governor, Paul Tucker, urged the government to study the possibility of reducing the interest paid on some of the deposits of lenders with the bank. The potential savings from such a move could amount to £60-90bn. - Financial Mail on Sunday
Read moreSunday newspaper round-up: Tiering, Virgin Orbit, Octopus Energy
9th Oct 2022 13:45
(Sharecast News) - The UK's biggest lenders may be facing a huge windfall tax as the Chancellor casts about for ways to calm financial markets, City sources said. The target may be some of the interest payments due to be paid on the hundreds of billions of pounds in deposits placed with the Bank of England, through what is known as 'tiering', mainly to the likes of Lloyds, NatWest and HSBC. That might net the Treasury approximately £10bn, at a cost of a fifth of major UK lenders' annual profits, according to estimates from Numis. Nonetheless, the Treasury itself has played down the possibility of a shift towards tiering as it "risks damaging the UK's fiscal credibility". - The Financial Mail on Sunday
Read moreHSBC considering sale of Canadian operations - report
4th Oct 2022 10:44
(Sharecast News) - HSBC is reportedly exploring a multibillion-pound sale of its operations in Canada in what would mark a significant retreat from its presence in North America.
Read moreChina PMIs point to continued slowdown in August amid dearer energy, Covid restrictions
31st Aug 2022 07:39
(Sharecast News) - Economic activity in Asia's largest economy continued to slow in August, amid higher energy costs and Covid-19 restrictions, the results of two closely followed surveys revealed.
Read moreFed's Bullard says he is leaning towards a 75bp rate hike at September meeting
18th Aug 2022 19:00
(Sharecast News) - A top US central bank official said he was leaning towards a 75 basis point interest rate hike at the central bank's next policy meeting.
Read moreBerenberg raises target price on HSBC following Q2 earnings
2nd Aug 2022 12:48
(Sharecast News) - Analysts at Berenberg raised their target price on lender HSBC from 560.0p to 625.0p on Tuesday, stating the group's recent second-quarter earnings saw the company deliver "a clean enough sweep".
Read moreBofA stays at 'buy' on HSBC after guidance for stronger than expected 2023 dividend
1st Aug 2022 14:10
(Sharecast News) - Analysts at Bank of America nudged their target price for shares of HSBC higher, from 751.0p to 760.0p, and reiterated their 'buy' recommendation after the lender guided towards a larger-than-expected dividend payout in 2023.
Read moreHSBC raises profit target, pledges return to dividends
1st Aug 2022 07:03
(Sharecast News) - HSBC on Monday reported a fall in first-half profits but pledged to resume quarterly dividends next year as its annual outlook remained positive.
Read moreSunday newspaper round-up: Ukraine, HSBC, Quilter
31st Jul 2022 20:35
(Sharecast News) - Ukrainian President, Volodymyr Zelensky, issued a warning at the weekend that the war with Russia might halve Ukraine's harvest. Even so, Zelensky sounded a confident note, arguing that alternative ways were being found for grains to be delivered. John Rich, the Australian chairman of MHP, Ukraine's biggest agricultural produce company, was much more cautious. Rich also contradicted remarks from Lloyd's of London's boss during the previous week that the insurance market would underwrite the dangerous sea transit of millions of tonnes of grain through mine-laden waters. - Sunday Telegraph
Read moreWeek ahead: FOMC meeting, Q2 earnings reports in the spotlight
22nd Jul 2022 13:01
(Sharecast News) - All eyes over the coming week will be on Wednesday's Federal Open Market Committee, as much for what it has to say on interest rates at the present meeting as well as for its guidance, together with a raft of corporate earnings reports on both sides of the Atlantic.
Read moreSix high street banks broke CMA information rules
22nd Jul 2022 11:07
(Sharecast News) - Six high street banks were found to have broken rules imposed by the Competition and Markets Authority under the Retail Banking Market Investigation Order 2017, it was revealed on Friday.
Read moreHSBC sells Russian business to ExpoBank
21st Jul 2022 14:06
(Sharecast News) - HSBC has unloaded its Russian business shortly before Moscow announced that it would move to block foreign lenders divesting their operations in the country.
Read moreChinese producer price inflation eases in June, but CPI gains accelerate
9th Jul 2022 19:11
(Sharecast News) - Factory gate inflation in the People's Republic of China cooled last month, but continued accelerating at the consumer level.
Read moreCredit Suisse sees value in UK Banks, Lloyds remains 'top pick'
5th Jul 2022 10:57
(Sharecast News) - Analysts at Credit Suisse sounded a bullish note for UK banks, explaining to clients that they now expected upgrades to lenders' guidance for net interest margins and net interest income.
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