Tuesday newspaper round-up: HSBC, Netanyahu election, Iran nuclear deal
17th Mar 2015 06:35
Thousands of clients of HSBC on the mainland have been told their accounts in the Channel Islands are to be closed. That comes as the lender seeks to ensure that its services are not being used to avoid paying taxes in the UK, according to The Times. Trinity Mirror, the owner of the Daily Mirror, ha
Read moreHSBC's Swiss bank now also wanted for trial in France
13th Mar 2015 14:33
Adding to investigations by Swiss and German prosecutors, HSBC's Swiss private bank must now also face trials in France to answer charges over an alleged tax-dodging scheme for wealthy customers. The French financial prosecutor's office confirmed its intention on Friday, after that Le Monde reported
Read moreBroker tips: HSBC, Morrisons, Capita, G4S
10th Mar 2015 12:24
Recent strength in US interest rates, together with opportunities to streamline some of its less profitable operations, should act as catalysts for shares in the world's local bank, HSBC. That was the opinion of analysts at Goldman Sachs who upgraded their view on shares of HSBC to 'buy' from 'neutr
Read moreGoldman Sachs upgrades HSBC to 'buy'
10th Mar 2015 07:34
Recent strength in US interest rates, together with opportunities to streamline some of its less profitable operations, should act as catalysts for shares in the world's local bank, HSBC. That was the opinion of analysts at Goldman Sachs who upgraded their view on shares of HSBC to 'buy' from 'neutr
Read moreTuesday newspaper round-up: Prudential CEO, BBC scandal, Conservatives
10th Mar 2015 06:24
Present chief executive of Britain's Prudential Insurance Group has been lined up to replace Brady Dougan as leader of Credit Suisse, the Financial Times reported. BBC Trust chair Rona Fairhead has been told she should resign after her involvement in the HSBC tax avoidance scandal was revealed to th
Read moreHSBC boss says he should stay in role, despite damage to bank
9th Mar 2015 17:54
HSBC chief executive Stuart Gulliver has admitted the scandal surrounding his personal tax arrangements have damaged the bank's reputation. However, insisting he was fit to stay on as head of HSBC to the Public Accounts Committee (PAC), Gulliver blamed media coverage for exacerbating damage. Gull
Read moreMorgan Stanley expects UK bank capital ratios to rise further to meet regulatory standards
9th Mar 2015 17:41
US heavyweight banking titan Morgan Stanley took note of the rising capital demands for UK banks in its latest note to clients and now expects that over 13% of Common Tier Equity 1 (CTE1) ratios to become the new baseline for the sector. "We see more evidence that the seemingly relentless march upwa
Read moreBoE says size of investment banks leaves them vulnerable to risks
9th Mar 2015 16:53
With trading assets of 10 of the largest investment banks in the UK summing to more than £5trn, the sheer scale of these operations means that liquidity in financial markets can be vulnerable to the failure of a single firm. That was the message of the Bank of England's (BoE) latest quarterly bullet
Read moreLondon close: FTSE jumps to new record high on ECB stimulus
5th Mar 2015 16:24
Details of the European Central Bank's (ECB) quantitative easing package helped the FTSE 100 to another record close on Thursday, with financial stocks making solid gains by the end of the session. The Footise finished the day 41.9 points higher (+0.61%) at 6,961.14, surpassing a previous closing re
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
Read moreMonday newspaper round-up: Scottish oil, HSBC, US army
2nd Mar 2015 06:47
The Scottish oil industry desperately needs state support to prevent drilling fields from becoming uneconomic and prematurely abandoned, Gordon Brown told The Guardian. MPs are set to question HSBC about its relationship with the leader of the BBC Trust after they found that the bank was paying her
Read moreSunday newspaper round-up: Opec, HSBC, Afren bid battle
1st Mar 2015 15:52
A fierce dispute is set to break out within the key organisation behind fixing world oil prices, according to the Sunday Telegraph. The Organisation of the Petroleum Exporting Countries (Opec) is torn about who will replace the current secretary general of the world's most powerful group of oil prod
Read moreSector movers: Lloyds and StanChart gain but banking sector edges lower
27th Feb 2015 15:14
The UK banking sector was slightly lower on Friday as well-received results from Lloyds and decent gains from Standard Chartered were offset by falls in the share prices of RBS, HSBC and Barclays. The sector was down around 0.5% on average. UK lender Lloyds was trading 1.1% higher despite 2014 resu
Read moreThursday newspaper round-up: HSBC, RBS, Pharmacyclics
26th Feb 2015 06:45
HSBC boss Stuart Gulliver apologised to MPs on Wednesday for the "unacceptable events" at the bank's Swiss subsidiary following revelations about tax-avoidance activities in the mid-2000s, reports The Independent. He said it had caused "damage to trust and confidence" in the company. RBS's chief exe
Read moreHSBC boss set to face grilling by UK MPs over tax scandal
25th Feb 2015 12:59
The head honcho of HSBC is set be grilled by Ministers of Parliament on Wednesday over the bank's controversial Swiss operations and his own personal financial affairs, according to press reports. Chief executive Stuart Gulliver has been summoned at the 11th hour by the House of Commons Treasury Sel
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