HSBC eyes RBS assets in Asia
7th Oct 2009 11:41
HSBC is reportedly close to buying the retail and commercial banking assets of Royal Bank of Scotland Group in China, India, and Malaysia after ongoing talks between the bank and Standard Chartered stalled. RBS had been in exclusive talks with Standard for some weeks, but according to the Wall Stre
Read moreWednesday paper round-up: Gold prices, British Airways, Tesco
7th Oct 2009 06:17
Gold prices hit a high of above $1,040 a troy ounce on Tuesday, propelled by investors seeking an alternative to the US dollar and a haven for their savings, traders and hedge fund managers said. The dollar suffered after Australia's central bank unexpectedly raised interest rates, prompting invest
Read moreLondon close: Footsie puts on late spurt
5th Oct 2009 17:16
Having been lethargic all day leading shares put on a late spurt in London, after receiving a transatlantic boost in the form of better than expected data from the US services sector. Miners featured prominently among the top performers, helped by bullish comment from Royal Bank of Scotland (RBS).
Read moreLondon afternoon: Footsie eases into the red
5th Oct 2009 13:45
The Footsie dipped into the red over the lunch-time session but it was a very shallow dip, with leading shares mixed and mostly sticking close to overnight levels. Life insurer Aviva is the heaviest faller in the FTSE 100 after it confirmed it is to sell a minority stake in its Dutch insurance bus
Read moreHSBC sells New York HQ, warns of second downturn
5th Oct 2009 08:45
HSBC has sold its New York headquarters for $330m in cash and will lease back the office block for a year. The sale, to a company controlled by Israeli businessman Nochi Danker, should complete by the first quarter of 2010. As part of the firm's commitment to keep the Big Apple as its US headquart
Read moreLondon pre-open: Heading higher
5th Oct 2009 07:22
Expect a partial recovery from Friday's sell-off as investors, looking as higher US futures prices, continue to buy on the dips. London is set to start about 20 points higher, according to City sources, while early indications are that Wall Street will add about the same when it opens later. Over
Read moreMonday newspaper round-up: BAE Systems, HSBC, Royal Bank of Scotland
5th Oct 2009 06:19
BAE Systems is prepared to settle the Serious Fraud Office's (SFO) six-year investigation into allegations of bribery in Africa and Eastern Europe, but will not do so "at any cost". The defence contractor is understood to be keen to resolve the issue, one way or the other, to draw a line under the
Read moreThursday newspaper round-up: Bankers' bonuses, Northern Rock
1st Oct 2009 05:51
A divide has already emerged between Europe and the US over how to implement new Group of 20 rules on bankers' bonuses, with British banks facing a stricter regime than is likely to apply in the US. The UK government on Wednesday night rushed out a statement trumpeting the agreement of Britain's t
Read moreUK banks agree to limits on bonuses
30th Sep 2009 17:44
The five biggest banks in Britain will enforce the limits on bonuses agreed by world leaders at the G20 summit in Pittsburgh last week, UK chancellor Alistair Darling said today. Barclays, HSBC, Lloyds, RBS and Standard Chartered have all signed up and will hope overseas rivals follow suit. Darlin
Read moreHSBC chief to lead from Hong Kong
25th Sep 2009 11:30
HSBC is flying its boss out to Hong Kong where he'll stay and lead the banking titan's increasing focus on emerging markets. Chief executive Michael Geoghegan will relocate from London at the start of February next year, although HSBC Holdings will remain domiciled in the UK. 'The move further pos
Read moreBroker tips: Next, Cape, UK banks
16th Sep 2009 12:46
KBC Peel Hunt is contemplating upgrading its target price, earnings forecasts and rating for Next after the fashion retailer's impressive interim results on Wednesday morning. The broker expects consensus forecasts for full year pre-tax profit are likely to rise as a result of the half-year update,
Read moreBroker snap: Book profits on banks, Nomura says
16th Sep 2009 11:55
Broker Nomura Securities has warned that shareholders in UK banks should be wary of the potential for a reversal in the sector and advises banking profits. 'The domestic UK banks have rebounded to valuations of 1.4x book value, with the Far Eastern banks on 2.2x. Consequently, we advocate booking s
Read moreWednesday newspaper round-up: Orange/T-Mobile, Cadbury, Burberry
9th Sep 2009 06:09
The planned merger of Orange and T-Mobile faces an uphill battle to convince competition authorities that the creation of Britain's biggest mobile phone company should be allowed to proceed. Independent competition lawyers questioned whether a super operator with 29.1m customers and a 39% revenue s
Read moreSunday newspaper round-up: Lloyds, Betfair, Johnston Press
23rd Aug 2009 12:35
Sir Win Bischoff, the incoming chairman of Lloyds Banking Group, is facing pressure to clear out the boardroom. Investors are telling him to beef up the banking experience on the board in the wake of its catastrophic takeover of HBOS, which has already claimed the scalp of outgoing chairman Sir Vict
Read moreLondon close: Stocks in late surge
18th Aug 2009 16:36
A late rally driven by early gains in the US had London back up at session highs, with gains among financial plays easily offsetting a weaker property sector. Investors overcame disappointing US housing starts data that had the blue chip index struggling at session lows mid-afternoon. The annual ra
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