US Presidential election 2016: Peso plunges to record low as Donald Trump moves towards the White House November 9, 2016 The Mexican peso has plummeted 11.5 per cent early this morning, as Republican candidate Donald Trump moves towards victory in the US Presidential election. Mexico's central bank has announced it will hold a news conference this morning after the peso hit its lowest levels in history. Economists have said the bank is likely to raise its key [...]
HSBC down: Bank suffers online banking outage (again) after group targeted by cyber attackers January 29, 2016 Well this is embarrassing. HSBC's online banking services are suffering from yet another outage – and it looks like it's down to a cyber attack on the bank. Customers complained this morning that they could not access their accounts online, with many complaining that the outage came just as their first pay day since Christmas arrived. [...]
RBS, Nationwide, HSBC, Barclays, Standard Chartered and HSBC share prices rise after Bank of England stress tests December 1, 2015 Shares in British lenders rose today, after results of a Bank of England stress test showed all the banks it tested had passed. Shares in Lloyds rose 2.8 per cent to 75.01p in early trading, while HSBC rose 1.4 per cent to 537.2p and Barclays rose 2.5 per cent to 228.75p. RBS and Standard Chartered, [...]
EU referendum: HSBC has warned a Brexit will create a labour shortage, ramp up food and retail prices and harm banking industry February 24, 2016 It's safe to say HSBC has come off the fence when it comes to Brexit, predicting what can only be described as a Brexocalypse. Just don't try saying that out loud. The bank, which recently committed to staying in the UK, has issued a note warning that the UK leaving the European Union would have [...]
Which UK stock market sectors have performed best over two decades? May 19, 2017 When the stock market rises and falls the sectors within it can move very differently, especially in the short-term. Perhaps the best example was the dotcom boom and bust, when technology shares soared in 1999 and then spectacularly crashed in the three years that followed. A balanced and carefully managed portfolio can ease the impact [...]
RBS shares opened lower after it was the worst performer in Bank of England stress tests November 30, 2016 Royal Bank of Scotland (RBS) became one of the biggest fallers on the FTSE 100 this morning, with shares opening 2.3 per cent lower at 192.5p, after it was revealed as the worst performer in the Bank of England's stress tests. Having dipped almost three per cent yesterday, shares in RBS fell further this morning after [...]
Barclays, HSBC, Lloyds, RBS and Standard Chartered have lost billions since the start of the year – the British economy needs a vibrant banking sector March 3, 2016 Spare a thought for Britain's banks. Between them, Barclays, HSBC, Lloyds, RBS and Standard Chartered have lost almost £40bn in value since the start of the year. A savage cocktail of market volatility, increased costs, low interest rates, fines, regulatory burdens and sluggish global growth is taking its toll. In a dramatic illustration of the [...]
HSBC: After nearly a year of mulling its domicile, would it matter if the bank moved its headquarters from London? February 10, 2016 Chris Beauchamp, senior market analyst at IG, says Yes. Fundamentally, HSBC’s residency in London makes sense. The bank may have ambitions in emerging markets, and may have ringfenced its UK operations, but to depart for Asia would seem like an odd move. It would separate the bank from its peers, who have realised that the geographical [...]
Retailers slash 84,000 jobs amid storm of rising costs and fierce competition January 26, 2017 Retailer shed an estimated 84,000 jobs in the final quarter of 2016 as the industry heads for what could be a “more profound” shake-out than it experienced after the financial crisis. New figures from the British Retail Consortium (BRC) show the number of jobs in the sector fell three per cent year-on-year in the final [...]
FTSE 100 index closes lower as banks including HSBC, Lloyds, RBS and Barclays fall and miners’ woes continue February 11, 2016 The FTSE 100 index closed sharply lower on Thursday as the selloff in banking and mining shares continued. The UK's blue-chip index fell 2.39 per cent to 5,536 points, led lower by the financial sector with both banks and insurers set to struggle with low interest rates. "Banks have been hit hard and further steep weakness can not [...]