HSBC reports larger-than-expected drop in profits
4th Aug 2014 10:20
Emerging markets focused lender HSBC saw reported profits before tax drop 12% during the first six months of the year to reach $12.34bn (£7.33bn). Investors however seemed to be choosing to focus on the prospect for profits to benefit from the upturn in the global interest rate cycle. The consens
Read moreLondon open: Stocks inch higher but gains limited by geopolitics
4th Aug 2014 09:14
- Geopolitics in Gaza, Ukraine still firmly in focus - UK construction PMI due out - Investors give mixed reaction to earnings techMARK 2,748.45 -0.11% FTSE 100 6,696.45 +0.26% FTSE 250 15,371.65 -0.20% UK stocks snapped a three-day losing streak on Monday morning as investors went bargain-huntin
Read moreMonday newspaper round-up: Banco Espírito Santo, Lloyds, Carillion...
4th Aug 2014 07:05
Portugal's troubled Banco Espírito Santo has been renamed "Novo Banco" (New Bank), and split into a "good" and a "bad" bank under a €4.9-billion rescue plan drawn up by the country's central bank to keep the lender afloat. The Bank of Portugal stepped in last night after a disastrous week in which s
Read moreSunday newspaper round-up: Carillion-Balfour, share sell-off, Lloyds Banking
3rd Aug 2014 18:04
Carillion plans to put Balfour Beatty in a "bear hug" to tempt Balfour's shareholders to support its attempted takeover, the Sunday Times said. Carillion last week scuppered a planned all-share merger when it backtracked on the agreed sale of Balfour's Parsons Brinckerhoff US design consultancy. Wit
Read moreSunday share tips: Diageo, Clipper Logistics, HSBC
3rd Aug 2014 18:02
Stay on the sidelines until Diageo chief executive Ivan Menezes has got a grip on his sprawling drinks empire, Danny Fortson advised in the Sunday Times. In his Inside the City column, Fortson said Menezes had inherited a business that was hard to control when he took over last July. The strong poun
Read moreSector movers: Barclays results receive warm reaction, boost banks
30th Jul 2014 16:19
Well-received interim results from Barclays saw the London-listed banking sector rise to the top of the pile on Wednesday as the UK lender bettered analysts' forecasts. The lender reported an 8% fall in adjusted pre-tax profit in the second quarter to £1.656m, which it blamed on currency movements
Read moreBank of England finalises bonus clawback, proposes new rules for individuals
30th Jul 2014 11:14
- BoE can claw back bonuses 7yrs after award - New proposals to hold individuals to account - 'Toughest banking rules in the world' The Bank of England (BoE) has finalised rules on bankers bonuses that could see the clawback of awards a maximum of seven years after they are awarded, with the new me
Read moreBank of England to impose tough new bonus clawback rules
29th Jul 2014 15:31
The Bank of England (BoE) has decided to push ahead on its plans for super-tough bonus clawbacks on City bankers. The rules have been described as the toughest in the banking world but also "unreasonable" and even "unenforceable". A BoE consultation paper in March suggested bankers could be force
Read moreUK banks told to build bond buffer under new world rules
24th Jul 2014 16:17
UK banks will be required to build a buffer of loss-absorbing bonds at least as big as the capital already held under new international rules, according to a Bank of England (BoE) official. The crackdown comes as part of plans to prevent governments having to bail out banks in the event of a financ
Read moreSector movers: Banks rise on Fitch comments, accounting change
24th Jul 2014 14:59
Upbeat comments from Fitch and changes in accounting standards gave the UK-listed banking sector a boost on Thursday. HSBC was the standout performer in afternoon trade, rising 2.4%, while Barclays and RBS rose over 1%. Ratings agency Fitch said that so-called Viability Ratings (VRs) on banks in E
Read moreLondon midday: Stocks erase losses as banks and housebuilders gain
24th Jul 2014 12:04
- Banking, housing stocks provide a boost - Kingfisher, Easyjet slump after results - Ukraine still in focus as Russian sanctions discussed - Eurozone PMI improves, UK retail sales fall techMARK 2,821.65 -0.06% FTSE 100 6,802.89 +0.07% FTSE 250 15,726.48 0.00% UK stocks managed to turn around afte
Read moreLondon midday: Stocks fall as tensions rise after Malaysia Airlines crash
18th Jul 2014 12:07
- Markets react to shooting down of Malaysia Airlines plane - Gaza fighting also weighing on sentiment - Shire and AbbVie strike £32bn takeover deal - UK competition watchdog orders banking probe techMARK 2,787.48 -0.41% FTSE 100 6,706.45 -0.47% FTSE 250 15,448.43 -0.68% Global geopolitical tensio
Read moreFriday newspaper round-up: Malaysia Airlines, Times Warner, UK banks...
18th Jul 2014 07:08
The president of Ukraine has accused pro-Russia rebels in the east of the country of shooting down a Malaysia Airlines jet with a ground-to-air missile, killing all 298 people on board as the airliner exploded and rained down in fiery pieces over a rural Ukrainian village. The huge loss of life thre
Read moreThursday newspaper round-up: Time Warner, Shire, BMW...
17th Jul 2014 06:47
21st Century Fox, the entertainment conglomerate run by Rupert Murdoch, may have to raise its audacious $80 billion bid for Time Warner to secure the biggest media takeover since the dot-com boom. 21st Century Fox offered $86 per share in cash and shares for its rival but the approach was rejected b
Read moreFTSE 100 movers: LSE drops on Qatar sale, Portugal fears hit banks
10th Jul 2014 15:29
London Stock Exchange was one of the worst performers on the FTSE 100 on Thursday after Qatar Investment Authority cut its 15% stake in the exchange operator by a third ahead of the UK-listed firm's planned $1.6bn rights issue to fund the acquisition of Frank Russell. Concerns about contagion from
Read more