HSBC 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
Read moreBroker tips: RSA, Glencore, HSBC
22nd Sep 2015 14:20
(ShareCast News) - Deutsche Bank cut its price target on RSA Insurance back to a "fundamental" 430p from 540p on news that Zurich Insurance has ended offer talks with the London-listed insurer. The broker said it's unlikely that any of the European composites will emerge as rival bidders and certain
Read moreFootsie drops sharply, traders point to 'fat finger' error
18th Sep 2015 13:01
(ShareCast News) - Losses on London's top-flight index were being ascribed by some media outfits to a 'fat finger' error or an error in an automated trading system. Shares in BHP Billiton, BP, BT Group, Diageo, HSBC, Wolseley, Vodafone and British American Tobacco were among the affected stocks. Th
Read moreFriday newspaper round-up: HSBC, Ryan Air, Lidl
18th Sep 2015 07:29
(ShareCast News) - HSBC's chairman has suggested the bank could retain its domicile in the UK, as his bank mulls moving its headquarters back to the Far East. Douglas Flint warned that he expected the Black Monday stock market crash, which was sparked in China, would be repeated, and that Britain's
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