HSBC warns over emerging market growth
5th Nov 2010 08:20
HSBC has warned the pace of growth in emerging markets is slowing and recovery from recession may take longer than in previous downturns. "Our latest data from emerging markets points to a slowdown in the rate of recovery and the likelihood of some bumps in the road ahead," the banking giant said.
Read moreHSBC's £2.1bn rolling stock disposal
4th Nov 2010 17:47
HSBC is selling Eversholt Rail Group for £2.1bn to a group of investment funds. The sale price is slightly higher than the book value of the assets. Eversholt is one of the UK's main rolling stock companies. It provides 29% of the UK's rail rolling stock to passenger and freight markets. The train
Read moreLondon close: US breathes life back into Footsie
1st Nov 2010 16:42
A good early performance from Wall Street helped Footsie snap out of a weak spell to close in positive territory. US shares were boosted by a bigger than expected rise in factory output in October. The Institute for Supply Management's manufacturing index rose to 56.9 last month. Analysts thought
Read moreLondon afternoon: Banks and miners lead advance
1st Nov 2010 15:14
Footsie pulled out of its late morning slump over the lunch time session to move firmly back into positive territory, though investors are still reluctant to commit too heavily ahead of tomorrow's mid-term US elections, and the quantitative easing decisions expected this week from the Bank of Englan
Read moreLondon midday: Footsie subdued after buoyant start
1st Nov 2010 12:02
Footsie has failed to rediscover its early-morning buoyancy and sits in the blue by a few points. Among the laggards is Serco. The company, which carries out work for the government such as operating prisons and London's Docklands Light Railway, has taken a knock after it was forced to make a grove
Read moreLondon open: Footsie charges higher
1st Nov 2010 08:32
High demand for banks and miners got the week off to a good start, offsetting weakness in the outsourcing sector. Banks are going well as trading updates loom. Lloyds Banking Group is getting ready for tomorrow's statement with a 2% jump, while Royal Bank of Scotland and HSBC are also making up gr
Read moreFriday newspaper round-up: BP, Air tax, Eurozone debt...
29th Oct 2010 06:22
BP and contractor Halliburton were aware the cement used in the well in the Gulf of Mexico was unstable, an official US commission investigating the fatal explosion said. The US company conducted four tests between February and April on the cement slurry that were relevant to the Macondo well, wit
Read moreAllied Irish appoints HSBC veteran
28th Oct 2010 15:05
Trouble Irish bank Allied Irish , has appointed ex-HSBC director David Hodgkinson as its new interim executive chairman. Hodgkinson will head the group until the appointment of a Group Chief Executive. Previously, he had been Group Chief Operating Officer for and Member of the Group Management Boar
Read moreLondon close: Footsie struggles
26th Oct 2010 16:24
Investors pocketed gains after an impressive autumn rally, though the decision was made easier by some disappointing corporate news, weak miners and negative broker comment on the insurance sector. The top 100 index fell back sharply from six-month highs, dropping below 5,680 at one point although
Read moreLondon afternoon: Bleak mid-winter for Cairn
26th Oct 2010 14:27
With Wall Street tipped to open lower London's leading shares fell back further over the lunch time period, resulting in the Footsie subsiding below 5700. Cairn Energy tops the list of fallers after it failed to find a commercial discovery at either the T8-1 or T4-1 wells offshore Greenland. The c
Read moreLondon midday: UK growth cuts little ice
26th Oct 2010 12:08
Better than expected UK third quarter growth has cut little ice with investors this morning, who are firmly focused on weak miners, negative corporate news and broker downgrades. Britain's economy grew twice as fast as expected in the three months to September, according to preliminary estimates by
Read moreFriday newspaper close: BAE, Gilts, BHP Billiton...
22nd Oct 2010 06:44
Taxpayers will have to pick up the £2.6bn bill for the controversial aircraft carrier that will never carry jets because Gordon Brown agreed an "unbreakable" contract designed to protect shipbuilding jobs in Scotland. Under a 15-year agreement signed with BAE Systems, the Labour Government guarant
Read moreBank levy to raise £2.5bn
21st Oct 2010 16:47
A permanent tax on the banks will raise about £2.5bn each year by 2012-13 onwards, the government said today. The new levy comes into force from January and will mean the banks make "'a fair contribution" to the potential risks they pose to the financial system and to encourage them to move to less
Read moreLondon close: Lower finish for FTSE 100
15th Oct 2010 16:38
London finished in the red heading into the weekend after Federal Reserve chairman Ben Bernanke's comments saying he sees the case for 'further action' to stimulate the US economy failed to stir up much excitement. 'There would appear - all else being equal - to be a case for further action,' Berna
Read moreSector movers: Insurers under the weather
15th Oct 2010 14:41
Insurers have been clobbered by a downgrade of the whole sector by Citigroup. RSA, Standard Life and Legal & General all retreat but it is insurance firm Old Mutual that is the main casualty after banking giant HSBC said is not going to go through with its proposed acquisition of a controlling stak
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