Sector 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
Read moreHSBC chief to stand down in major shake-up
24th Sep 2010 07:17
A major shake-up of HSBC's senior management is on the way with chief executive Michael Geoghegan set to quit by the year-end and finance director Douglas Flint to take over as chairman. Stuart Gulliver, the head of the bank's investment division, will become chief executive after a week of boardro
Read moreFriday newspaper round-up: HSBC chief to stand down
24th Sep 2010 06:24
Michael Geoghegan is to step down as chief executive of HSBC at the end of the year, according to two people close to the bank's board. He will be replaced by Stuart Gulliver, head of the group's investment bank, the FT reports. At the same time, Douglas Flint will take over as chairman from Stephe
Read moreHSBC denies CEO has threatened to quit
23rd Sep 2010 17:31
HSBC chief executive Michael Geohegan issued a denial overnight from his Hong Kong office that he will end his 37-year career at the company if he does not get the job of executive chairman. Geohegan became chief executive in 2006 and reportedly has eyes on the top job in the company now it has bec
Read moreLondon close: Late rally trims losses
23rd Sep 2010 16:40
London staged a last hour rally but didn't rise by enough to eliminate losses sparked by a weak start on Wall Street. News that Brazilian oil company Petrobas will launch a world record $78bn rights issue helped other oil companies. BP, Shell and Cairn all picked up near the close. Expectation t
Read moreLondon afternoon: US shadow increases London gloom
23rd Sep 2010 14:24
Expectations of a weak start on Wall Street, after poor US jobless data, sent London lower still over the lunch time session, with banks and miners continuing to feature prominently among the blue-chip fallers. Lloyds and Standard Chartered are the worst performing banking stocks as worries resur
Read moreLondon midday: Blue-chips in the red
23rd Sep 2010 12:12
London's blue-chips are beating a rapid retreat but second liners are having a slightly better time of it, though most are still in arrears. Banks and miners are prominent among the blue-chip fallers. Lloyds and Standard Chartered are the worst performing banking stocks while HSBC is also lower a
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