Pakistan business latest in HSBC firing line
10th Apr 2012 10:13
HSBC's Pakistan operations are the latest to go on the block as the bank continues to sell off non-core assets. HSBC Bank Middle East, a subsidiary of HSBC Holdings, confirmed on Tuesday that it is in discussions with a number of interested parties regarding the possible sale of its operations in
Read moreLondon open: Stocks drop on US jobs report
10th Apr 2012 08:32
- Markets digest Friday's US jobs data - Rising exports push China into trade surplus - Randgold bounces back after Malian settlement After a long weekend, the FTSE 100 fell sharply in early trade on Tuesday on the back of a mixed performance by the miners and a decline in the banking sector, as in
Read moreLondon pre-open: Steep fall expected for FTSE opening
10th Apr 2012 07:20
City sources predict the FTSE 100 will open down 56 points from Thursday's close of 5,724 following the bank holiday weekend, tracking significant falls seen in the US resulting from monthly jobs data. Stocks to watch The UK's biggest bank, HSBC, has confirmed it is in talks over a possible sale
Read moreHSBC in talks to sell Korea business
10th Apr 2012 07:04
The UK's biggest bank, HSBC, has confirmed it is in talks over a possible sale of its retail banking and wealth management business in Korea. The bank said the discussions with The Korea Development Bank were ongoing and may or may not lead to a deal. "HSBC remains committed to the Korean market
Read moreFTSE 100 movers: Ashmore bucks the trend
5th Apr 2012 14:32
Fund manager Ashmore was bucking the downward trend of the financial sector after UBS raised its rating on the stock from neutral to buy. The broker said that its recent under-performance, combined with the strong fund performance and record inflows at industry level, was the reason behind the upgra
Read moreLondon midday: Footsie down after manufacturing data, BoE holds rates
5th Apr 2012 11:41
- BoE holds rates, QE - UK manufacturing in surprise decline - Financials lead Footsie lower, Ashmore bucks trend After a cautious start, the Footsie found its direction by mid-morning, falling steeply after some worse-than-expected domestic manufacturing data. Meanwhile, the Bank of England's po
Read moreFlockhart retires from HSBC's main board
5th Apr 2012 11:00
One of HSBC's most experienced bankers, Sandy Flockhart, is to retire as Executive Director from the main board, having served 37 years with the firm. His experience in international banking means the bank has decided to retain him as a non-executive. He will also retain his positions as Chairman o
Read moreSector movers: Diageo rises on Jose Cuervo speculation
2nd Apr 2012 15:10
Drinks giants Diageo and SABMiller were making decent gains on Monday afternoon, meaning that the beverages sector was at the top of the pile. Diageo is rumoured to be nearing the acquisition of a further stake in Mexican tequila maker Jose Cuervo. According to media reports, Diageo could be buying
Read moreFTSE 100 movers: Miners jump on Chinese data while financials fall
2nd Apr 2012 14:39
Miners were providing a lift after the better-than-expected manufacturing data from China, which saw the nation's purchasing managers' index rise to an 11-month high of 53.1 in March, from 51 the month before. This boosted hopes for demand in the metals industry with Fresnillo, Rio Tinto and Vedan
Read moreLondon open: Stocks rise after upbeat China data
2nd Apr 2012 08:26
- Miners wanted after Chinese PMI reaches 11-month high - RBS to dish out dosh to preference shareholders - LSE acquisition of LCH.Clearnet passes milestone UK stocks opened with decent gains on Monday morning as miners rose on the back of some better-than-expected manufacturing data from China.
Read moreLondon close: Eurozone worries dampen UK stocks
29th Mar 2012 16:35
- Stocks dragged down by Eurozone concerns - International Power receives approach from GDF Suez - FirstGroup plummets after gloomy update London's FTSE 100 index sank to its lowest levels of the day by the close of trade on Thursday with Eurozone worries once again in focus as bond yields in Italy
Read moreLloyds sells Dubai business to HSBC
29th Mar 2012 14:47
Lloyds Banking Group is selling its onshore Dubai business to HSBC Bank Middle East. The sale, which comes as part of Lloyds' plan to reduce its international presence, includes the group's retail, commercial and corporate banking business in the area. The said assets were valued at totalling £4
Read moreLondon close: Oil and gas stocks slump after North Sea gas leak
27th Mar 2012 16:27
- Elgin gas leak weighs on stocks - Wolseley, Compass disappoint after updates - Banks rise, RBS wanted on speculation UK stocks slumped in afternoon trade as earlier optimism quickly faded with consumer confidence data from the US disappointing late on. Meanwhile, oil and gas heavyweights were pro
Read moreHSBC ends operations in Slovakia
27th Mar 2012 14:58
HSBC Bank, a wholly-owned subsidiary of HSBC Holdings, has announced it will exit its operations in Slovakia. The banking giant said the decision is a direct result of the continuing five-filter portfolio review announced last year. HSBC Bank Slovakia will no longer take on new business but will
Read moreHSBC to sell Mauritius business
26th Mar 2012 07:08
The UK's biggest bank, HSBC, said it is in talks to sell its retail banking and wealth management business in Mauritius. HSBC said the discussions were ongoing and may or may not lead to a deal. It added that it was committed to the Mauritius market and would continue to invest in growing its glob
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