HSBC 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
Read moreBroker tips: HSBC, Prudential, Experian, Sports Direct
20th Jul 2015 11:41
(ShareCast News) - Citigroup upgraded HSBC to 'buy' from 'neutral' and lifted the price target to 635p from 625p, noting that the stock is trading close to the low end of its valuation range over the past five and 10 years. "Reflecting the improvement to capital ratios from upcoming divestments and
Read moreCitigroup upgrades HSBC to 'buy'
20th Jul 2015 10:10
(ShareCast News) - Citigroup upgraded HSBC to 'buy' from 'neutral' and lifted the price target to 635p from 625p, noting that the stock is trading close to the low end of its valuation range over the past five and 10 years. "Reflecting the improvement to capital ratios from upcoming divestments and
Read moreApple Pay debuts in UK
14th Jul 2015 13:35
(ShareCast News) - Apple introduced its Apple Pay app in the UK on Tuesday, after the company unveiled in June its plans to launch the service in the country this summer. The new service allows users to pay at more than 250,000 businesses including Tube stations, coffee shops, supermarkets and trave
Read moreIngenious, HSBC, UBS and Coutts sued by 'tax avoidance' clients
13th Jul 2015 12:26
(ShareCast News) - Private client banks such as Royal Bank of Scotland's Coutts, HSBC and UBS have been sued by clients for wrongly advising them to invest in film investment specialist Ingenious as its schemes have since been labelled by tax authorities as tax-avoidance vehicles. Ingenious Media an
Read moreUK Chancellor George Osborne to cut bank levy
8th Jul 2015 13:04
In the first Conservative Budget since 1996, Chancellor George Osborne announced that the bank levy rate will be gradually reduced over the next six years and a new 8% surcharge on bank profits will be introduced from January 2016. After that, Osborne said he will ensure the levy no longer applies t
Read moreLondon open: Stocks rise ahead of budget, but China and Greece a concern
8th Jul 2015 09:12
London stocks bounced slightly on Wednesday after settling at their lowest in nearly six months, though gains were modest as investors focused on a sell-off in China overnight, the upcoming UK budget and news flow on Greece. The FTSE 100 was up 0.38% at 6,456.90 early on, after settling at 6,432.21
Read more6 HSBC workers fired for mock IS beheading
7th Jul 2015 14:44
Six HSBC workers were fired on Monday for pretending to be Islamic State (IS) militants carrying out a beheading. The seven-second video showing a man dressed in an orange jumpsuit and five other men around him, one of them holding a fake knife, was filmed during a team-building exercise and posted
Read moreGoldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreING closing in on HSBC's Turkish assets, reports say
6th Jul 2015 13:06
Dutch bank ING is close to a takeover of HSBC's assets in Turkey, reports said on Monday. ING entered exclusive talks with HSBC after some bidders dropped out to focus on the purchase of National Bank of Greece's Finansbank, the Financial Times reported. Last Thursday, Reuters reported ING was HSBC
Read moreLondon open: Stocks slump as Greece votes 'no', Rolls-Royce sinks after profit warning
6th Jul 2015 09:08
UK stocks slumped into the red on Monday morning after the Greek public pushed the country into unchartered territory by voting a resounding 'no' to creditors' bailout proposals. Some 61.3% of the Greeks voted 'no' against 38.7% who voted 'yes'. "Considering that creditors insisted that [the refere
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