London close: FTSE gains on financials as US consumer inflation surprises
15th Feb 2017 17:15
(ShareCast News) - London stocks ended Wednesday higher as investors considered news that UK's jobless rate held steady at end-2016, with forecast-busting US inflation numbers helping boost global markets led north by financials. The FTSE 100 ended the session up 0.47% or 33.85 points at 7,302.41, s
Read moreGoldman Sachs to relocate London hedge fund to New York
9th Feb 2017 16:20
(ShareCast News) - An internal hedge fund at Goldman Sachs is shutting up shop in London and relocating to New York, but the investment says the decision is unrelated to Britain's exit from the European Union. Eight members of staff from Goldman Sachs Investment Partners fund will be moved from thei
Read moreFriday broker round-up
3rd Feb 2017 09:56
(ShareCast News) - Northgate: Barclays reiterates Neutral with a target price of 600p. Royal Dutch Shell A: Barclays reiterates Overweight with a target price of 2800p Royal Dutch Shell B: Barclays reiterates Overweight with a target price of 2800p. A.G BARR: Berenberg reiterates Hold with a targe
Read moreOne in five think Tesco is Britain's biggest company
24th Jan 2017 16:13
(ShareCast News) - Britons are still struggling to identify some of the FTSE 100's biggest names, as research suggests less than one in five people believe Tesco to be the biggest company in Britain. A survey conducted by spread betting firm Spread Co shows that confusion still remains for the ordin
Read moreOne in five think Tesco is Britain's biggest company
24th Jan 2017 16:13
(ShareCast News) - Britons are still struggling to identify some of the FTSE 100's biggest names, as research suggests less than one in five people believe Tesco to be the biggest company in Britain. A survey conducted by research firm Spread Co shows that confusion still remains for the ordinary ci
Read moreHSBC to close 62 more branches due to rise of online banking
24th Jan 2017 15:14
(ShareCast News) - HSBC is planning on shutting another 62 branches, in addition to its previously planned 55 closures, this year due to the rise in customers using online banking. The move is expected to lead to 180 redundancies in branches and 204 in IT positions. Consumer group Which? pointed to
Read moreFTSE 100 movers: Paddy Power and banks lead London losers
23rd Jan 2017 15:00
(ShareCast News) - The FTSE 100 was down over 0.8% by late afternoon on Monday, with stocks swaying lower as sterling rose to a one-month high ahead of the Supreme Court's decision on triggering Article 50 for Brexit. Leading the fallers was bookmaker Paddy Power Betfair as it revealed a £40m hit fr
Read moreHSBC said to cut 100 senior jobs in investment banking
20th Jan 2017 15:19
(ShareCast News) - HSBC has reportedly begun cutting around 100 senior jobs this week in its investment banking division worldwide. According to sources cited by Reuters, the cuts are taking place at managing director and director level in the Global Banking and Markets division. A spokeswoman for
Read moreHSBC to pay £4m in redress for overcharging customers in arrears
20th Jan 2017 11:44
(ShareCast News) - HSBC has voluntarily agreed to pay £4m in redress to customers who were overcharged when they fell into arrears after buying goods on credit. The Financial Conduct Authority said the bank has offered to set up a fund to repay 6,700 customers who were made to pay an unreasonable de
Read moreCredit Suisse arrives at $5.3bn settlement with US
19th Jan 2017 15:30
(ShareCast News) - Credit Suisse has come to a $5.3bn agreement with the US Department of Justice to settle the investigation into the bank's involvement in selling toxic mortgage debt before the last financial crisis. The investment bank will pay a $2.5bn civil penalty and $2.8bn in consumer relief
Read moreHSBC confirms plans for partial exit from London due to Brexit
18th Jan 2017 11:52
(ShareCast News) - HSBC will need to move roughly 1,000 London jobs to its Paris office due to Brexit, the bank's chief executive Stuart Gulliver confirmed on Wednesday. Following Theresa May's confirmation that the government plans to withdraw from the European single market, banks are likely to lo
Read moreHSBC upgrades Capital & Regional to 'buy'
9th Dec 2016 08:53
(ShareCast News) - HSBC has upgraded Capital & Regional, a British manager of shopping centres, to 'buy' from 'hold' but lowered its price target to 66p from 69p. The company's recent disposal of the Camberley shopping centre and refinancing has reduced the bank's equity valuation by £14.5m, equival
Read moreEC slaps €485m fine on HSBC, JPMorgan, Agricole for Euribor cartel
7th Dec 2016 10:52
(ShareCast News) - Competition regulators at the European Commission have fined HSBC, JPMorgan Chase and Crédit Agricole €485m for participating in a cartel in euro interest rate derivatives. The European Union's executive arm said the banks had breached EU antitrust rules by colluding on the key eu
Read moreMorgan Stanley upgrades HSBC to 'equal weight'
6th Dec 2016 09:13
(ShareCast News) - Morgan Stanley upgraded HSBC to 'equal weight' from 'underweight' and raised its price target to 645p from 550p. The broker upgraded the bank's stock as the revenue outlook has improved on better Asia pacific (APAC) loan growth and higher rates. "We have had an underweight rating
Read moreRBS fails stress tests, Barclays and StanChart stumble over hurdles
30th Nov 2016 07:33
(ShareCast News) - Royal Bank of Scotland has been forced to submit plans to improve its capital position after failing the Bank of England's annual stress tests, while rivals Barclays and Standard Chartered stumbled over some hurdles but not badly enough to require raising new funds. Despite these
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