London afternoon: BT boosted by government deal
15th Oct 2010 14:23
Leading shares are mixed with traders reluctant to take on big positions ahead of this afternoon's speech from Federal Reserve chairman Ben Bernanke. The market is hoping that Bernanke will provide clues to the Fed's plans for a possible resumption of quantitative easing. Insurers and miners remai
Read moreHSBC calls off Nedbank bid
15th Oct 2010 10:14
HSBC has walked away from its £5bn bid for South African bank Nedbank. The bid was expected to see HSBC take a controlling 70% stake in the bank, including Old Mutual's current 52% stake in the company. The two-month period of exclusive talks between the two groups is due to expire this weekend, w
Read moreFriday newspaper round-up: HSBC, Dollar, Equitable Life...
15th Oct 2010 06:31
HSBC is close to walking away from a £5bn ($8bn) plan to buy Nedbank in South Africa, after a two-month period of exclusive talks with majority owner Old Mutual expires this weekend. The bank is not in a position to make an offer for Nedbank before the period of exclusivity finishes, according to p
Read moreThursday newspaper round-up: Banks, Lloyds, airlines
14th Oct 2010 06:25
Britain's biggest banks have admitted for the first time that there was a problem with lending to small businesses and that they should offer greater support. In a wide-ranging report published last night, the banks - Barclays, Royal Bank of Scotland, Lloyds Banking Group, HSBC, Santander and Stand
Read moreHSBC staying put
29th Sep 2010 17:55
HSBC's outgoing chairman Stephen Green announced today that the bank has no immediate plans to relocate its headquarters to Hong Kong. In the board meeting in Shanghai, Green announced that although it won't leave its headquarters in London, it will remain committed to developing their business in
Read moreLondon close: Lower finish after sluggish day
29th Sep 2010 16:39
Footsie closed a few points lower at the end of a dull day's trading that was overshadowed by continuing eurozone debt worries. Ireland was the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal B
Read moreSector movers: Ireland worries hit banks again
29th Sep 2010 15:20
Banks are under pressure as worries over the European debt situation continue to plague the markets. Ireland is in the spotlight again amid speculation that that the cost of bailing out the nationalised bank Anglo Irish could rise to as much as €30bn (£25m). Unsurprisingly, Irish banks listed here
Read moreLondon afternoon: Dull mood continues
29th Sep 2010 14:15
Leading shares remain mixed but with a lower bias as investors continue to fret over European debt issues. Debt-stricken Ireland is the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal Bank of
Read moreMonday newspaper round-up: Housing, Sainsbury's, HSBC...
27th Sep 2010 06:41
The number of home buyers fell at the sharpest rate in more than 18 months in September, dragging house prices down further, a report published today from property website Hometrack shows. Estate agents reported that demand from new buyers dropped by 2.9%, the biggest monthly decline since January
Read moreSunday newspaper round-up: United Biscuits, HSBC, BAA...
26th Sep 2010 11:36
One of China's biggest food companies is in secret talks about a multi-billion-pound takeover of United Biscuits, the British food group behind McVitie's biscuits, Jaffa Cakes and Twiglets. Shanghai-based Bright Food has pre-empted a planned auction and is in exclusive discussions about a deal expe
Read moreLondon close: Footsie rallies after shaky start
24th Sep 2010 16:50
The roller coaster ride continued heading into the weekend, with shares rallying to finish with good gains following a drop in the morning. Shares have been jittery for most of the week, with traders unsure how to react to Federal Reserve chairman Ben Bernanke's comments on the US economy on Tuesd
Read moreLondon midday: Miners do the damage
24th Sep 2010 12:05
It's been a rollercoaster morning for London's blue chips, although pretty much all the volatility has happened in negative territory as miners struggle. HSBC, little changed at lunchtime, has hogged the headlines. Reports suggest that current chief executive Mike Geohegan will leave at the end of
Read moreLondon open: Heavyweights drag Footsie lower
24th Sep 2010 08:57
Footsie has opened lower with the heavyweight sectors of banks and miners both heading south. Speculation over the power struggle at the top of global banking giant HSBC has dominated early proceedings in London. Reports suggest that current chief executive Mike Geohegan will leave at the end of th
Read moreBanking Commission will consider bank splits
24th Sep 2010 08:00
A new body set up to examine how to improve stability and competiveness in the banking industry will ask 'hard questions' about how Britain's banks operate, its chairman said today in its first issue paper. The Independent Commission on Banking (ICB), which is chaired by economist Sir John Vickers,
Read moreLondon pre-open: Sparks fly at HSBC
24th Sep 2010 07:33
Speculation over the power struggle at the top of global banking giant HSBC is likely to dominate early proceedings in London. Reports suggest that current chief executive Mike Geohegan will leave at the end of the year after failing to get the job of executive chairman. City traders suggest the FT
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