Monday newspaper round-up: Banker bonuses, Phones 4U, Belgium
17th Nov 2014 07:28
Banker bonuses tied to corporate takeovers could be banned to prevent them getting in the way of working in a company's best interests. The shadow business secretary wants "huge success payments" linked to big-ticket takeovers of British companies to be looked at in more detail, as well as calling f
Read moreLondon close: UK stocks snap winning streak on banking fine, BoE outlook
12th Nov 2014 16:20
News of a big fine in the banking sector and gloomy comments from the Bank of England (BoE) weighed on UK equities on Wednesday, with London's stock market finishing lower for the first time in six sessions. A weak start on Wall Street was also pressuring stocks as the benchmark S&P 500 and Dow Jone
Read moreLondon midday: Stocks retreat from six-week high on earnings, BoE outlook
12th Nov 2014 12:05
UK equities pulled back from a six-week high on Wednesday as a string of disappointing corporate earnings and a gloomier outlook by the Bank of England dampened sentiment. News of a massive fine in the banking sector also caused blue-chip lenders to fall sharply on London's stock market. The FTSE 1
Read moreLondon open: FTSE snaps five-day winning streak ahead of Inflation Report, banks fall
12th Nov 2014 08:33
UK stocks declined on Wednesday, snapping a five-day winning streak that sent the FTSE 100 to a six-week high, as investors digested a wave of corporate earnings and awaited the Bank of England's (BoE) Inflation Report. News of a massive fine across the UK banking sector was also dragging high stree
Read moreFCA fines five banks £1.1bn for forex rigging but legal claims could be larger - UPDATE
12th Nov 2014 07:06
The Financial Conduct Authority (FCA) has issued its largest ever fine, slapping a £1.1bn penalty on five banks for rigging forex markets, with Barclays yet to settle, with lawyers also warning that potential further legal action could dwarf these fines. The UK regulator fined Citibank £225.6m, HSBC
Read moreBanks braced for forex rigging fines in UK and US this week
11th Nov 2014 11:25
Banks in the UK are braced to receive between £1bn and £2bn of fines this week for allegedly rigging currency markets, while US regulators are also expected to reach settlements before Friday. Six banks in the UK - Barclays, Citi, HSBC, JPMorgan Chase, the Royal Bank of Scotland and UBS - have confi
Read moreMonday broker round-up
10th Nov 2014 15:34
RBS: Nomura reiterates reduce but lifts target price to 370p from 360p. IAG: Liberum reiterates buy, maintaining 550p target. Royal Dutch Shell: JP Morgan reiterates overweight stance but cuts target to 2,500p from 2,700p. Aveva: Westhouse Securities reiterates add and its target price of 1,780p.
Read moreMonday newspaper round-up: Economic recovery, London, Banks
10th Nov 2014 06:46
The economic recovery will continue over the next two years, leading to average wage rises for all workers - not just certain professions - finally outstripping inflation in both 2015 and 2016, according to the employers' organisation the CBI. But the recovery could be put at risk if the eurozone's
Read moreCMA launches enquiry into current accounts and SME banking
6th Nov 2014 08:04
The UK competition authority has launched an "in-depth market investigation" into both the personal current account and small business retail banking sectors, which could help 'challenger banks' to grow. Having in July said it was looking at whether to probe the sector, the Competition and Markets A
Read moreTuesday broker round-up UPDATE
4th Nov 2014 09:32
Aberdeen Asset Management: Credit Suisse ups target price from 440p to 455p and keeps a neutral rating. Anglo Eastern: FinnCap initiates with a target price of 880p and a buy recommendation. Ashmore: Credit Suisse downgrades to underperform. Barclays: Citi moves target price from 300p to 315p stay
Read moreTuesday newspaper round-up: RBS, US tech firms, UK house prices...
3rd Nov 2014 19:42
Royal Bank of Scotland (RBS) is set to ditch the auditors that reviewed its accounts before, during and after its £45bn taxpayer bailout, the Daily Telegraph said on Tuesday. The bank said Deloitte, which had conducted audits since 2000, will be replaced by Ernst & Young, which would audit its accou
Read moreRBS signs agreement with City of London Police
3rd Nov 2014 16:20
Royal Bank of Scotland (RBS) and the City of London Police have signed an agreement which will see the former provide free training and advice on financial crime. Last week, RBS set aside £400m to cover potential settlements for manipulating currency markets and warned further sanctions for past mis
Read moreBanks set aside over £4bn ahead of currency settlement
3rd Nov 2014 15:31
Some of the world's biggest banks have set aside up to $7bn (£4.38bn) in preparation for potential settlements with regulators investigating allegations of manipulation and collusion in foreign exchange markets. Upon releasing its earnings report on Monday, HSBC, Europe's largest bank, announced it
Read moreLondon close: Weak Eurozone manufacturing data drag shares lower
3rd Nov 2014 15:24
Weak European manufacturing data dragged London shares lower on Monday despite a rise in the sector's fortunes in the UK. The Eurozone Markit manufacturing purchasing managers' index (PMI) for October fell to 50.6 from 50.7 previously with both Germany and Italy declining while France improved sligh
Read moreBroker tips: HSBC, RBS, Wm Morrison, Rolls-Royce, Just Eat
3rd Nov 2014 12:22
Hargreaves Lansdown Stockbrokers has hailed a "strong operating quarter" for HSBC, but has said that analysts covering the stock remain on the fence due to regulatory issues. "Unfortunately, the provisions cannot be ignored and the ongoing costs of PPI and the forex investigations are also joined by
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