HSBC reportedly looking to sell Turkish ops to Bahraini lender
12th Jun 2015 08:39
HSBC is reportedly in talks to sell its Turkish operations to Bahrain's Arab Banking Corporation as it accelerates a restructuring that could have significant implications for the bank. According to Sky News, ABC has emerged as a leading contender to buy the nearly 300 branches which comprise HSBC's
Read moreGradual relaxation of the UK bank levy still likely, says Nomura
11th Jun 2015 09:56
Although Chancellor George Osborne was noticeably silent on the matter of the UK bank levy on Wednesday, Nomura still expects to see a gradual relaxation. "With a majority Tory government now in place, we expect a gradual relaxation of the UK bank levy over time," it said. Nomura said it suspects t
Read moreBroker tips: HSBC, Cairn Energy, Taylor Wimpey
10th Jun 2015 12:18
Far from setting out a bold revamp of its strategy, HSBC is bent on 'defending the Empire', which may lead to its loss, a leading broker said. The lender's investor update published on 9 June revealed how management continues to underestimate the negatives of running a complex global universal banki
Read moreMacquarie sees medium-term risks to HSBC's dividend pay-out
10th Jun 2015 10:10
Far from setting out a bold revamp of its strategy, HSBC is bent on 'defending the Empire', which may lead to its loss, a leading broker said. Adapt or die? The lender's investor update published on 9 June revealed how management continues to underestimate the negatives of running a complex global
Read moreLondon close: Stocks shake off worries, close off lows
9th Jun 2015 16:38
London stocks managed to finish the session above their worst levels of the day as Wall Street fought to break a three day losing streak, although worries regarding the situation in Greece and the recent selling in German sovereign debt markets continued to weigh on sentiment. The Footsie ended the
Read moreFTSE 100 movers: HSBC dips on cuts and closures, miners lower
9th Jun 2015 13:17
UK stocks were slightly lower on Tuesday, as fragile negotiations between Greece and its creditors weighed on investors' risk appetites. Sector-wise, industrial metals, oil and telecommunications stocks provided the biggest drag. As of 14:30 BST, the FTSE 100 was trading 0.16% lower at 6,779. HSBC
Read moreLondon midday: Stocks knocked lower by Greek worries, Chinese data
9th Jun 2015 12:14
London stocks registered early gains although traders were still treading cautiously given the delicate state of the negotiations between Greece and its creditors. As of 12:20 the Footsie was lower by 19.89 points or 0.29% to 6,773.54 points. In parallel, Germany's Dax could be seen lower by 1.30% t
Read moreBroker tips: HSBC, Reed Elsevier
9th Jun 2015 11:24
Shares in HSBC fell 0.8% on Tuesday after the company outlined a round of job cuts and branch closures in its latest investor update. Shore Capital said the update was "rather uninspiring", and essentially reaffirms previously-held commitments around costs, returns and dividend policy, while aiming
Read moreLondon open: Traders watching Greek negotiations closely
9th Jun 2015 08:57
London stocks registered early gains although traders were still treading cautiously given the delicate state of the negotiations between Greece and its creditors. As of 09:09 the Footsie was higher by 1.86 points to 6,791.90 points. "The fact that we're seeing technical support levels [across Euro
Read moreHSBC update fails to provide any real surprises, say analysts
9th Jun 2015 08:14
Shares in HSBC fell 1.1% on Tuesday after the company outlined a round of job cuts and branch closures in its latest investor update. Shore Capital said the update was "rather uninspiring", and essentially reaffirms previously-held commitments around costs, returns and dividend policy, while aiming
Read moreTuesday newspaper round-up: HSBC, Supermarkets, Pets at Home
9th Jun 2015 07:01
HSBC is to cut up to 25,000 jobs around the world - including as many as 8,000 in the UK - as its chief executive, Stuart Gulliver, embarks on a fresh strategy to reduce costs and bolster returns to shareholders. Gulliver has already cut the total head count to 257,000 from 296,000 but on Tuesday si
Read moreLondon pre-open: FTSE to continue lower amid Greece fears
9th Jun 2015 07:01
London-listed stocks were expected to begin Tuesday's session on the back foot, extending losses into their fourth day. City sources predict the FTSE 100 will open around 9-10 points lower than Monday's close of 6,790.04. "The fact that we're seeing technical support levels [across Europe] being br
Read moreHSBC targets $5bn in annual cost savings by 2017
9th Jun 2015 06:19
HSBC on Tuesday announced a round of job cuts and branch closures with the aim of saving between $4.5bn to $5bn in annual costs by 2017. Branches in seven major markets including the UK will be closedUp to 25000 jobs set to goStrategic aim is to expand Asian footprintIn a statement issued to the Hon
Read moreUK bank levy change would benefit StanChart the most, says SocGen
8th Jun 2015 09:30
Commenting on a Sunday Times report that George Osborne is to lay the groundwork for a review of the bank levy, Societe Generale said that Standard Chartered was likely to be the biggest beneficiary. SocGen explained that the current method of calculation puts UK banks at a disadvantage when operati
Read moreOsborne to discuss review on bank levy in this week's mansion house speech
7th Jun 2015 13:15
The Chancellor is set to this week outline the government's commitment to ensuring the ongoing "competitiveness" of banks. George Osborne is expected to on Wednesday use the annual Mansion House speech to pave the way for a review of the bank levy in a bid to prevent major lenders from moving their
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