Thursday newspaper share tips: Steer clear of banking sector
11th Feb 2016 11:35
(ShareCast News) - The Telegraph's Questor wasn't so hot on the UK banking sector as it published an in-depth look into it on Thursday The column noted that shares in the sector have fallen over 20% so far this year, due to fears about how it would cope in another downturn. It said there is an elem
Read moreHSBC cancels plans for 2016 pay freeze
11th Feb 2016 10:23
(ShareCast News) - HSBC has reportedly made a U-turn on its planned 2016 pay freeze. A memo from chief executive Stuart Gulliver, seen by Reuters on Thursday, said pay rises will be funded from the lender's 2016 variable bonus pool, meant for bonuses paid in 2017. However, HSBC will keep its hiring
Read moreTuesday newspaper round-up: HSBC, Osborne, Google, stamp duty
9th Feb 2016 07:12
(ShareCast News) - HSBC is leaning towards keeping its headquarters in London after 10 months of agonising debate reflecting a reversal of the previous stance of chief executive Stuart Gulliver. In private meetings over the past few weeks, Mr Gulliver has played down the case for leaving the UK, acc
Read moreSunday newspaper round-up: HSBC, Glencore, easyJet
7th Feb 2016 20:18
(ShareCast News) - HSBC's board is expected to come to a decision on the location of its headquarters in the coming days after an unexpectedly long-running review of the future of the British-based bank. Bosses launched the review last year and initially expected to reach a conclusion by the end of
Read moreHSBC imposes hiring and pay freeze
1st Feb 2016 11:07
(ShareCast News) - HSBC froze pay and hiring at its consumer and investment banking units as part of its plans to cut as much as $5bn from its cost base by the end of 2017, Bloomberg reported citing a spokesperson for the lender. The decision, which was announced to staff on 29 January, followed an
Read moreHSBC defends cyber attack
29th Jan 2016 12:18
(ShareCast News) - HSBC customers suffered disruptions to online banking on Friday due to a cyber attack. The lender said it had successfully defended the attack but services were affected on what is a payday for many and two days ahead of a key deadline for paying tax. Sunday is the last day for f
Read moreBroker tips: PZ Cussons, Vodafone, UK banks
26th Jan 2016 13:06
(ShareCast News) - PZ Cussons has achieved a "solid" first half given the challenges, according to Investec. The consumer goods company reported a 0.2% dip in reported revenue to £385.9m in the first half due to foreign exchange headwinds. Pre-tax profit fell 3.7% on a reported basis to £42.1m. The
Read moreUBS ups RBS to 'buy' as it re-initiates coverage on UK banks
26th Jan 2016 09:02
(ShareCast News) - UBS re-initiated coverage on the five large UK banks, backed by new models and analytical support. It upgraded Royal Bank of Scotland to 'buy' from 'neutral', cutting the target price to 350p from 363p. UBS argued that until now, the bank's small index weight - 0.6% of the FTSE 1
Read moreLloyds and other lenders set to announce fresh PPI provisions, report claims
25th Jan 2016 10:20
(ShareCast News) - Britain's largest lenders are preparing to set aside billions of more pounds for provisions against the payment protection insurance mis-selling scandal, according to reports over the weekend. Insiders from Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander
Read moreS&P ups view on HSBC Bank's capital, but sees offsetting risks
19th Jan 2016 16:11
(ShareCast News) - HSBC Bank's capital position was set to strengthen as the lender moved to top up its capital cushions, but that improvement would be offset by the greater risks for its investment banking arm should global economic and geopolitical crystalise, Standard&Poor's said. S&P, arguably t
Read moreBroker tips: Tullow Oil, HSBC, Sainsbury's
6th Jan 2016 17:24
(ShareCast News) - Tullow Oil is in a better position than some of its peers to withstand low oil prices thanks to its oil price hedges and current UK corporate tax legislation, a top broker said on Wednesday. Oil exploration and production companies are in a race against time, waiting for low oil p
Read moreFTSE 100 movers: Miners drive down blue chip market
6th Jan 2016 14:59
(ShareCast News) - The FTSE 100 had dropped 86.42 points (1.41%) by mid-afternoon Wednesday, down to 6,050.82 points. Miners were again on the list of risers and fallers for a second day in a row, but this time on the negative side. Anglo American, BHP Billiton, Rio Tinto, Glencore and Antofagasta a
Read moreJPMorgan downgrades HSBC on rising emerging market credit risk
6th Jan 2016 10:14
(ShareCast News) - JPMorgan Cazenove downgraded HSBC to 'underweight' from 'neutral' as it sees the Asia-focused bank underperform peers due to the increasing probability of worsening credit in emerging markets. JPM said it saw valuation downside due to the potential for rising inflows of non-perfor
Read moreTuesday newspaper round-up: HSBC, Sports Direct, Saudi Arabia
5th Jan 2016 07:05
(ShareCast News) - HSBC will not face formal action from the City regulator following revelations that the Swiss arm of Britain's biggest bank helped clients to evade tax. HSBC was engulfed in scandal a year ago when leaked bank account details showed how the bank's Swiss unit helped wealthy custome
Read moreLondon close: Stocks end lower on slump in commodities
30th Dec 2015 16:19
(ShareCast News) - UK stocks slumped on Wednesday as shares in mining and oil producers declined. Oil prices reversed the previous day's gains on concerns about a supply glut after a report showed an unexpected rise in US crude inventories. The Energy Information Administration said US crude invent
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