London 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
Read moreMonday newspaper round-up: Glencore, HSBC, Private sector wages
12th Oct 2015 06:48
(ShareCast News) - Glencore is preparing to unveil asset sales in Australia and Chile, prompting a halt in trading of its Hong Kong listed shares on Monday morning. The embattled miner, which has seen its shares whipsaw amid the slump in commodities and China slowdown, told the Hong Kong Exchange it
Read moreApple tops list of world's biggest brands
5th Oct 2015 08:36
(ShareCast News) - Apple has beaten Google to become the world's biggest brand, according to Interband's 2015 Best Global Brands list. The US technology giant was valued at $170bn, a 43% change in value from 2014. It surged ahead of Google, which came in second with a total brand value of $120bn.
Read moreBroker tips: HSBC, Shire, Aviva
30th Sep 2015 15:06
(ShareCast News) - UBS upgraded HSBC to 'buy' from 'neutral' saying the risk/reward on the shares has shifted to the upside. It noted that since 11 August when the PBoC unexpectedly weakened the renminbi, HSBC's share price has dropped 15-20%, equivalent to a decline of around $30bn in market cap.
Read moreUBS ups HSBC to 'buy', says risk/reward has shifted to upside
30th Sep 2015 10:37
(ShareCast News) - UBS upgraded HSBC to 'buy' from 'neutral' saying the risk/reward on the shares has shifted to the upside. It noted that since 11 August when the PBoC unexpectedly weakened the renminbi, HSBC's share price has dropped 15-20%, equivalent to a decline of around $30bn in market cap.
Read moreBroker tips: Glencore, HSBC, Barclays, Aldermore
29th Sep 2015 14:29
(ShareCast News) - Commodity trader Glencore took a beating on Monday, falling to its lowest level since its IPO in 2011, after Investec said the company's equity value is zero at current spot prices, but two analysts came out in its defence on Tuesday. Citi, which rates the stock at 'buy', said the
Read moreNomura still bullish on UK domestic banks, Barclays and Lloyds among top picks
29th Sep 2015 10:15
(ShareCast News) - Nomura remains bullish on domestic UK banks, highlighting Barclays and Lloyds Banking Group among its top five picks in the sector. It said that despite a number of headwinds facing the UK banks, they appear well positioned relative to peers in terms of capital, underlying profita
Read moreAbengoa chairman to step down as company readies share sale
24th Sep 2015 12:32
(ShareCast News) - Embattled Spanish renewable energies outfit Abengoa's chairman, Felipe Benjumea, announced he would be stepping down after 25 years at the helm as the company revealed plans to go cap in hand to investors. The Seville, Spain-based company was looking to raise at least €650m in eme
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