Bank surcharge forecasts "vastly understate" pain on sector, says EY
7th Sep 2015 13:30
(ShareCast News) - The banking sector will have to pay out vastly more than expected from George Osborne's new profits surcharge, which was introduced to reduce the pain of the Bank Levy on lenders such as HSBC. When the Chancellor unveiled the new 8% surcharge on bank profits and plans to lower the
Read moreHSBC's British branches to be rebranded HSBC UK in 2018
3rd Sep 2015 11:11
(ShareCast News) - Banking giant HSBC will rebrand its British branches as HSBC UK from 2018. According to Sky News, the FTSE 100 group announced the decision to thousands of its UK-based employees on Thursday, ahead of an official announcement. The new name will be displayed across HSBC's branches
Read moreHSBC to probe Bacs issues as payments are held up
28th Aug 2015 11:10
(ShareCast News) - Banking giant HSBC said it will investigate the issues that led to a number of payments being held up on Friday. The FTSE 100 group said the problems were thought to be linked with the national Bacs system, which processes up to £50bn every day and plays a crucial part in Britain'
Read moreRBS, Barclays and HSBC among nine banks to settle forex-rigging claims
14th Aug 2015 14:52
(ShareCast News) - HSBC, Barclays and Royal Bank of Scotland are among nine banks that have agreed a settlement with US investors over foreign exchange rate rigging claims, with litigation continuing a group of 12 others that includes Standard Chartered. UBS, Citibank, Goldman Sachs, BNP Paribas, Ba
Read moreBank of Communications to allow HSBC appoint Vice Chairman
10th Aug 2015 11:51
(ShareCast News) - China's Bank of Communications (BoCom) will allow HSBC Holdings to name a vice chairman for its board amid a restructuring of its ownership. The move comes part of the the Shanghai-based bank's plan to give private capital a bigger role, people familiar with the matter told Bloomb
Read moreLondon pre-open: Europe likely to follow the US lower
4th Aug 2015 08:07
(ShareCast News) - City sources predict the FTSE 100 will open 25 points lower than Monday's close of 6,688.62. Overnight markets were mixed with the US down and Asia up, but Europe has followed the US, London Capital Group night editor Jonathan Sudaria said. "Gains in Asia, and in particular
Read moreLondon close: Weak China and US PMIs send FTSE lower
3rd Aug 2015 17:08
(ShareCast News) - Worse-than-expected manufacturing data in the US and China sent the FTSE lower at close on Monday. China's Caixin purchasing managers' index (PMI) on manufacturing activity, which was previously sponsored by HSBC, declined to a two-year low of 47.7 from June's 49.4 on a 100-point
Read moreLondon midday: FTSE drops as miners fall on downbeat Chinese manufacturing data
3rd Aug 2015 12:33
(ShareCast News) - The FTSE 100 declined at Monday midday, led by miners following the release of lacklustre Chinese manufacturing data. Rio Tinto, Randgold Resources, BHP Billiton and Anglo American were among the fallers as commodity prices took a hit after two separate surveys showed Chinese manu
Read moreLondon open: FTSE opens lower on weak US and Chinese data
3rd Aug 2015 09:31
(ShareCast News) - The FTSE 100 opened lower on Monday on the back of disappointing US and Chinese data. US stocks fell at Friday's close following poor wage growth and consumer sentiment. Asian markets were also in the red on weaker Chinese manufacturing and lower oil prices. Two separate survey's
Read moreLondon pre-open: Stocks to open lower on US and Chinese data
3rd Aug 2015 08:18
(ShareCast News) - City sources predict the FTSE 100 will open six points lower than Friday's close of 6,696.28. A weak close in the US on poor wage growth and consumer sentiment will put downward pressure on the markets, London Capital Group night dealer Jonathan Sudaria said. "European equities a
Read moreHSBC profits up 10% off Asia growth
3rd Aug 2015 08:09
(ShareCast News) - HSBC posted a 10% rise in first-half profit, beating analysts' expectations on the back of a strong performance in Asia. The bank said adjusted revenue was up 4% to $30,772m driven by revenue growth in client-facing global banking and markets, principally in equities and foreign e
Read moreHSBC to sell Brazilian unit to Bradesco as second-quarter earnings fall
3rd Aug 2015 07:33
(ShareCast News) - HSBC said on Monday it would sell its Brazilian business to Banco Bradesco, the country's second-largest private-sector bank, in a deal valued at $5.2bn. The sale, subject to regulatory approval, was signed on 31 July and is expected to be completed by June 2016. The announcement
Read moreHSBC reportedly ready to agree sale of Turkish unit to ING for around $750m
22nd Jul 2015 14:12
(ShareCast News) - HSBC is set to agree to sell its Turkish business to ING Group for around $700m-$750m in the next few days, according to reports. Reuters, which cited people familiar with the matter, said ING, which already has a presence in Turkey, was one of three banks to submit a non-binding
Read moreTuesday newspaper round-up: Bank of England, Capital buffers, Bank regulation
21st Jul 2015 07:54
(ShareCast News) - The Bank of England will be made to show that it is providing taxpayers with value for money under reforms unveiled today by George Osborne. Mark Carney, the governor, has agreed to open the Bank's books to the National Audit Office (NAO), bringing it into line with government dep
Read moreFTSE 100 movers: Sports Direct kicked higher, Pearson spikes on FT rumours
20th Jul 2015 14:02
(ShareCast News) - London markets inched higher on Monday as weakness in the commodities market was outshone by strength in the pharmaceutical, technological and financial sectors. As of 14:15 BST, the FTSE 100 was trading 0.23% higher at 6,791. Sports Direct International topped the risers as Exan
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