HSBC calls for “calm consideration” following Brexit vote, as profits slide thanks to uncertain environment August 3, 2016 HSBC has today revealed its pre-tax profits have fallen 29 per cent during its first half of 2016, while suggesting it will be taking a cautious but calm approach to the Brexit vote. The figures The bank reported profits before tax for the first six months of the year of $9.7bn (£7.3bn), down 28.7 per cent from $13.6bn, calling it [...]
Lloyds Banking Group, HSBC and Royal Bank of Scotland in firing line in Australian rate rigging case brought in the US August 18, 2016 Lloyds Banking Group, HSBC and Royal Bank of Scotland are all in legal hot water after a case was filed in the US against a slew of banks on allegations they rigged a key Australian benchmark rate. The US lawsuit claims the lenders manipulated the bank bill swap rate (BBSW), a benchmark used mainly in Australian [...]
Bell Pottinger faces client exodus: Top firms seek to distance themselves from disgraced PR firm | City A.M. September 5, 2017 Bell Pottinger is facing an exodus of clients as companies seek to distance themselves from the disgraced PR firm. The iconic company, which was kicked out of the Public Relations and Communications Association (PRCA) on Monday, is now scrambling to regroup. City A.M. understands Bell Pottinger wants to name a new boss this week, following [...]
Marks and Spencer pulls advertising from Google over extremist content March 20, 2017 Marks and Spencer has become the latest firm to pull its advertising from Google after reports that it has been allowing adverts for UK companies to appear on extremist websites. A recent investigation by the Times showed that UK advertisements, from the likes of Sainsbury's, RBS and the UK government, have been posted on YouTube [...]
The London Stock Exchange Group has started using blockchain technology July 19, 2017 London Stock Exchange Group will use blockchain technology to help un-listed businesses make shareholding information more transparent. It will use IBM’s hyperledger technology to make the information of small and medium sized private companies digital, which the exchange hopes can give them access to more mature investors. A small trial will initially begin with Borsa [...]
Just received your GCSE results? No need to get A-Levels – get into the City with these apprenticeships at Lloyds, HSBC, PwC – and a new government department August 25, 2016 Those opening their GCSE results today will, for the most part, be planning to do A-Levels next year – particularly if they have ambitions in the City. But what if you could work for one of the UK's largest finance sector organisations without suffering through another two years of academia? We've rounded up the City's [...]
HSBC to restructure global banking division in bid to cut costs June 6, 2016 HSBC is planning to restructure its global banking division in an effort to slash costs and make the business more "agile", according to reports. The bank issued an internal memo today, outlining the reorganisation, which is part of plans announced last June to cut one in five roles and shrink its investment bank by a third. [...]
HSBC is moving 840 IT jobs out of the UK May 16, 2016 HSBC is moving nearly 1,000 technology jobs out of the UK, the bank has announced. Some 840 jobs will be moved to other locations around the world, including India, China and Poland as part of its plans to cut thousands of jobs in the UK as part of a major restructure. The roles, currently based in [...]
HSBC won’t be moving its HQ away from London post-Brexit June 30, 2016 HSBC has confirmed for the first time since last week's referendum that the UK vote to quit the European Union will not lead to the bank moving its headquarters from London. Speaking at a conference organised by lobby group The City UK, HSBC's chairman Douglas Flint repeated comments from February this year that the referendum result would not trigger another [...]