Standard Chartered reveals management shake up
20th Jul 2015 08:11
(ShareCast News) - Standard Chartered has announced a radical management shake-up designed to restore the fortunes of the bank. Under the new regime, chief executive Bill Winters will take more responsibility as all heads of business units will report to him not his deputy Mike Rees, the bank said i
Read moreLondon pre-open: Gold drops as focus shifts to central banks, earnings
20th Jul 2015 08:06
(ShareCast News) - Gold fell afoul of traders on Monday morning as the focus of markets shifted away from events in China and Greece and back towards central banks and corporate earnings, particularly Stateside. Economists' expectations for interest rates hikes in the UK and US have grown in recent
Read moreSunday newspaper round-up: Bank ring-fence, Standard Chartered, interest rates
19th Jul 2015 16:26
(ShareCast News) - The looming ring-fence plan to separate bank's investment and retail arms may be watered down as part of the government's attempts to re-engage with the City. The Sunday Times has been told by senior City and Treasury sources that behind-the-scenes talks with the Bank of England h
Read moreStandard Chartered's new chief expected to unveil structural changes this week
19th Jul 2015 14:20
(ShareCast News) - The new chief executive of Standard Chartered will this week announce a number of changes affecting senior management at the bank. Bill Winters will request that the seven divisional leads now report to him, rather than to his deputy Mike Rees, according to sources cited by the Su
Read moreThursday broker round-up
9th Jul 2015 16:22
Ashmore: RBC keeps at underperform. Aggreko: Exane reiterates underperform recommendation and 1,250p target. Anglo American: Investec stays at hold on the miner's South African-listed shares. Associated British Foods: Credit Suisse stays at outperform and sets a target price of 3,250p. Barclays:
Read moreUK Chancellor George Osborne to cut bank levy
8th Jul 2015 13:04
In the first Conservative Budget since 1996, Chancellor George Osborne announced that the bank levy rate will be gradually reduced over the next six years and a new 8% surcharge on bank profits will be introduced from January 2016. After that, Osborne said he will ensure the levy no longer applies t
Read moreLondon open: Stocks rise ahead of budget, but China and Greece a concern
8th Jul 2015 09:12
London stocks bounced slightly on Wednesday after settling at their lowest in nearly six months, though gains were modest as investors focused on a sell-off in China overnight, the upcoming UK budget and news flow on Greece. The FTSE 100 was up 0.38% at 6,456.90 early on, after settling at 6,432.21
Read moreGoldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreLondon close: Stocks fall as traders take profits ahead of Greek referendum
3rd Jul 2015 16:31
UK stocks finished firmly lower on Friday as investors showed their nerves ahead of a pivotal weekend for Greece as the public votes on creditors' bailout proposals. With the result of the referendum apparently too close to call and reports claiming that Greek banks were beginning to run out of mone
Read moreBrazil probes 15 banks over alleged exchange-rate manipulation
3rd Jul 2015 14:16
Banking stocks fell on Friday after Brazil's antitrust agency accused 15 banks of rigging the Brazilian currency. CADE is investigating banks such as HSBC, Barclays, Deutsche Bank and Standard Chartered over suspicions they worked together to manipulate the exchange rate of the real, deterring compe
Read moreFTSE 100 movers: RBS hit by mortgage bond allegations, Vodafone by ML note
3rd Jul 2015 13:34
UK stocks inched lower on Friday, as investors continued to fret in the run up to Sunday's Greek referendum. As of 14:30 BST, the FTSE 100 was trading 0.5% lower at 6,595, led by Vodafone after a negative note on the telecoms giant by Merrill Lynch, which told clients it felt the stock's recovery re
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreCiti positive on UK international banks
30th Jun 2015 15:03
Against a disinflationary backdrop, the long-end of the of the US dollar and euro area interest rate curves have undergone what analysts terms a 'bull-flattening' since the start of 2010. As foreseen by analysts at Citi several years ago, lenders from the Benelux countries, Italy and Scandinavia out
Read moreThursday share tips: StanChart, Stagecoach Group
25th Jun 2015 17:21
Like other global banks new StanChart chief Bill Winters's remit is clear, seek high, sustainable and low-risk returns while culling costs at the rest of business units. Hopefully, he will not be as timid as Deutsche Bank on divestments nor be as keen as HSBC to reinvest. Winters is making the right
Read moreStandard Chartered to shift power to regional hubs, reports say
25th Jun 2015 14:11
Standard Chartered's new chief executive Bill Winters has said the emerging markets-focused bank is ripe for simplification and streamlining, sources told the Financial Times. Winters is expected to hand more power to a handful of regional subsidiaries in key markets, such as Hong Kong, Singapore
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