FTSE 100 movers: Worldpay strong but banks out of favour
30th Dec 2015 14:18
(ShareCast News) - London's FTSE 100 was down 0.6% to 6,274.20 at 1425 GMT, giving back some gains following a solid performance in the previous session, in holiday-thinned trade. With volumes low and many traders still away from their desks for the Christmas and New Year holidays, there was no real
Read moreMonday newspaper round-up: Fosun, Rolls-Royce, RBS
14th Dec 2015 07:06
(ShareCast News) - Guo Guangchang, the Chinese tycoon caught up in Beijing's anti-corruption drive, has emerged in public for the first time after four days out of sight while assisting a judicial investigation. Mr Guo appeared on stage on Monday to address an annual internal conference of his compa
Read moreHSBC confirms policy change for top level executive pensions
6th Dec 2015 10:46
(ShareCast News) - High street bank HSBC has confirmed it will change its pension policies to bring them "in line" with other major lenders, following complaints from its biggest investors. The company currently pays its chief executive, chairman and two executive directors 50% of their base salarie
Read moreHSBC to close private banking division in India
27th Nov 2015 10:16
(ShareCast News) - HSBC will shut down its private banking business in India by March of next year with staff moved to the retail bank. "After a strategic review of the global private banking operations in India, we have decided to close the business," a spokesman said on Friday. "This marks furthe
Read moreHeidi Miller to be chair of HSBC North America as Rona Fairhead retires
13th Nov 2015 07:23
(ShareCast News) - HSBC Holdings said on Friday that board member Heidi Miller will become the chair of HSBC North America at the end of the year as Rona Fairhead will be retiring from the role at the bank's 2016 annual general meeting Deputy chairman Simon Robertson will also retire on that day,
Read moreSector movers: Utilities downgraded, banks hit by FSB capital rules
9th Nov 2015 16:05
(ShareCast News) - The utilities sector was the worst performer on Monday, with banks starting well but losing ground and fund managers well bought. Banks got off to a good start early in the session, with Barclays, RBS, HSBC and Standard Chartered all powering higher as, following last week's robus
Read moreFTSE 100 movers: Financial companies' rises offset IHG and utility falls
9th Nov 2015 14:10
(ShareCast News) - The FTSE 100 started the day on a high but slowly started to sink into the red, with the market down 4.22 (0.07%) by mid-afternoon to 6,349.61 despite a strong performance from financials. Aberdeen Asset Management, Standard Chartered, Barclays and HSBC were all boosted by the ri
Read moreLondon open: Stocks slide on further contraction in China manufacturing
2nd Nov 2015 08:40
(ShareCast News) - UK stocks dropped after a worse-than-anticipated report on Chinese manufacturing added to concerns about the slowdown in the world's second largest economy. The official government's purchasing mangers' index on manufacturing showed a reading of 49.8 for October, unchanged from th
Read moreHSBC posts jump in third-quarter profit, but underlying numbers miss estimates
2nd Nov 2015 07:16
(ShareCast News) - HSBC posted a better-than-expected 32% rise in third-quarter pre-tax profit thanks to the bank's cost-cutting programme and reduced fines, but underlying profit missed estimates. Third-quarter reported pre-tax profit came in at $6.10bn compared with $4.61bn in the same period last
Read moreFriday newspaper round-up: TalkTalk, HSBC, Regulation
23rd Oct 2015 06:30
(ShareCast News) - The personal and financial details of more than four million TalkTalk customers may have been stolen in a cyberattack that brought down the telecom company's website. A police investigation has begun after the "significant and sustained" attack on the website on Wednesday by unide
Read moreHSBC now 'leaning towards staying in Britain'
18th Oct 2015 10:22
(ShareCast News) - HSBC has reportedly now moved in favour of remaining in the UK following a serious of changes to planned reforms within the banking industry. The bank, which had threatened to move its headquarters out of Britain, is said to have been placated by Chancellor George Osborne's decisi
Read moreHSBC cuts pay of London investment banking staff
15th Oct 2015 10:14
(ShareCast News) - HSBC has reportedly cut the wages of London contractors at the investment banking business by 10% as part of its efforts to slash costs. Pay cuts will affect all contract workers in the global and markets division, The Times reported on Thursday. Permanent staff have avoided a pay
Read moreBank of England sets GBP2.2bn retail bank ring-fencing requirement
15th Oct 2015 09:35
(ShareCast News) - Proposals by the Bank of England would require the UK's big banks to hold up to £3.3bn of capital under new ring-fencing rules designed to make their retail operations more resilient to potential market crashes. From 1 January 2019, banks with core deposits greater than £25bn from
Read moreThursday newspaper round-up: HSBC, Apple, Banks
15th Oct 2015 06:58
(ShareCast News) - Hundreds of workers at HSBC's investment banking division in London have had their pay cut by 10 per cent and been ordered to take two weeks of unpaid leave by the end of the year.The bank, which is under intense pressure to reduce costs, broke the news to staff last week and inst
Read moreHSBC whistleblower fails to show up to trial
12th Oct 2015 14:08
(ShareCast News) - Herve Falciani, the former employee of HSBC's Swiss private bank who leaked information on the bank and its clients, failed to appear at his trial on Monday. "It was simply postponed because he was not present," said a spokeswoman for the Federal Criminal Court in Bellinzona, addi
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