HSBC to transfer US mortgage services to PHH
8th May 2012 07:21
HSBC's US subsidiary will see PHH Mortgage Corporation manage its mortgage-processing and servicing operations as part of a new strategic relationship. PHH Mortgage, the subsidiary of PHH Corporation, will provide HSBC with mortgage originations processing services as well as sub-servicing of the b
Read moreWeek Ahead: Sainsbury, HSBC, BoE base rate
4th May 2012 12:10
Results from Sainsbury on Wednesday may give some pointers whether sector leader Tesco is finally rousing from its slumbers in the UK. Results from Morrisons in the first week of May showed the supermarket chain suffering its first year-on-year fall in like-for-like (LFL) sales since the time it bi
Read moreFriday broker round-up
4th May 2012 09:21
AstraZeneca: UBS raises target from 3,400p to 3,500p, buy rating unchanged. BG Group: Nomura cuts target from 1,950p to 1,850p, buy rating kept. British Land: Jefferies upgrades British Land from hold to buy, targetupped from 517p to 543p. Dairy Crest: Jefferies initiates coverage with a buy reco
Read moreLondon midday: Investors eye ECB decision as stocks edge higher
3rd May 2012 12:08
- Investors await ECB decision - Successful bond auctions in France, Spain - Mixed reception to barrage of corporate updates The Footsie had traded within a narrow range in morning trade after a strong start ahead of a closely watch interest rate decision from the European Central Bank (ECB) due th
Read moreThursday broker round-up
3rd May 2012 09:15
Afren: finnCap downgrades from buy to hold. Carnival: Shore Capital upgrades from hold to buy. CSR: Jefferies reiterates buy rating and 290p target. Fenner: Credit Suisse downgrades from outperform to neutral, target cut from 540p to 480p. Ferrexpo: Renaissance Capital upgrades from hold to buy.
Read moreLondon pre-open: Slight fall in store for FTSE
2nd May 2012 07:37
City sources predict the FTSE 100 will open up five points from yesterday's close of 5,812, paring some of Tuesday's gains following Chinese PMI data, which came in below expectations. Standard Chartered bank said its broad geographic base once again helped it secure a strong start to the year wi
Read moreHSBC completes sale of US card unit to Capital One
2nd May 2012 07:05
Global banking titan HSBC has completed the sale of its US card and retail services business to American card and banking group Capital One Financial Corporation. The acquisition, first agreed back in August of 2011, was subject to various conditions including governmental and regulatory approvals;
Read moreTuesday broker round-up - UPDATE
1st May 2012 08:09
Aberdeen Asset Management: Citigroup ups target from 290p to 310p, buy rating kept; Barclays Capital raises target from 260p to 285p, equal weight retained; UBS lifts target from 310p to 340p, buy rating unchanged. Avocet Mining: Nomura reiterates buy recommendation and 310p target. Cape: Arden Pa
Read moreManagers for the chop as HSBC swings axe
26th Apr 2012 13:00
Global banking giant HSBC has confirmed it is to slash its UK workforce by more than 2,200, with senior and middle management bearing the brunt of the wave of redundancies. The bank employs more than 52,000 workers in the UK, of which around 40,000 work in HSBC branches, and is looking to "eliminat
Read moreThursday broker round-up - UPDATE
26th Apr 2012 08:36
Admiral: Oriel Securities retains sell rating and 740p target. AstraZeneca: Panmure Gordon maintains buy rating and 3,600p target. Barclays: Nomura reiterates neutral rating and 268p target; Exane BNP Paribas keeps outperform rating and 300p target; Oriel Securities keeps buy rating and 285p targe
Read moreThursday newspaper round-up: Eurozone, BP, North Sea
26th Apr 2012 07:14
Nicolas Sarkozy has promised to hold a referendum on Europe's fiscal pact, dealing a hammer-blow to Angela Merkel's "non-negotiable" plans to impose austerity on the Eurozone. The French president, who is struggling in his bid to be re-elected, said he intended to insert the "balanced budget" rule i
Read moreHSBC to create new Omani bank through merger
18th Apr 2012 15:25
Global banking giant HSBC has announced that the Oman branch of its Middle-Eastern subsidiary is to merge with the country's fifth-largest bank, Oman International Bank (OIB), in an attempt to expand its presence in a 'key Gulf economy'. HSBC Bank Middle East will retain a 51% interest in the new c
Read moreSunday newspaper round-up: Tesco, BA, Recession
15th Apr 2012 14:48
Tesco's travails in its core British market will be exposed for all to see this week, with the group's full-year results expected to show dismal trading in the UK. The call from many quarters is that Tesco must get back to basics and sort out Britain at all costs - and pull back from its difficult A
Read moreLondon close: Banks, miners lead the rebound
11th Apr 2012 16:43
- Spanish, Italian yields fall on ECB intervention speculation - Barclays leads banks higher after upgrade - UK retail sales values rise in March London's FTSE 100 index finished Wednesday's session strongly following a steep fall yesterday, as investors saw opportunity to build positions in two he
Read moreLondon close: Footsie sinks to 2012 low
10th Apr 2012 16:56
- Miners suffer sell-off on macro-economic concerns - US jobs data dampens sentiment - Randgold bounces back after Malian settlement London's FTSE 100 index slumped to its lowest levels in 2012 on Tuesday as investors had a four-day weekend to digest a gloomy US jobs report out on Friday. Just a ha
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