Be under no illusions: The National Living Wage will cost jobs February 24, 2017 Imagine that you didn’t know how cold weather and turning on the heat affected the temperature of a room. You’d watch the boiler burn more or less gas, and you’d watch the weather get colder and hotter, but if the thermostat and central heating were working properly there’d be no change in the temperature of [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
Is it still worth investing in bank shares? May 31, 2017 Bank shares rose sharply toward the end of 2016 leaving many investors questioning whether the rally would continue. The global banking sector returned 13.7% in 2016 with dividends included, according to MSCI data. In comparison, the MSCI World index returned a more modest 8.2%. Among banks, the biggest gains were made by the US and [...]
Investment banking fees plunged in 2016, but analysts predict 2017 pick-up January 4, 2017 Global investment banking fees fell seven per cent last year, with the UK’s plunging even further, thanks to a decline in flotations, equity raisings and mergers and acquisitions (M&A) activity. However, the decline was less marked in the second half of 2016, and analysts are predicting a recovery this year. Thomson Reuters found global investment banking [...]
Banks lead the FTSE 100, with some lenders setting new monthly highs August 31, 2016 Banks are helping to bolster a reasonably flat FTSE 100 today. Banking mainstays Barclays and HSBC are both among the five greatest risers this morning, while shares in Lloyds, RBS and Standard Chartered are up as well. Barclays is currently up 2.4 per cent at 173.25p, HSBC is up 1.8 per cent at 567.7p, Lloyds is up 1.5 per [...]
Bank of England stress tests: Berenberg warns Lloyds Banking Group could be hit hard by 2016 stress tests while Standard Chartered and HSBC could fare better than in recent years March 30, 2016 Lloyds Banking Group is "particularly vulnerable to larger stress test losses" in 2016 compared to Britain's other big banks, analysts at Berenberg have warned. The Bank published its plans yesterday for this year’s stress test of Britain’s biggest banks, saying it would test to see how lenders would fare in a scenario where global growth falls 1.9 [...]
Consumer goods groups challenge financials to become biggest sector in FTSE 100 as Barclays, HSBC, RBS and Standard Chartered share prices plummet year-to-date March 3, 2016 Consumer goods groups are challenging the dominance of financial firms in the FTSE 100 for the first time in a decade. The two sectors are neck-and-neck, with consumer goods actually overtaking financials briefly during February, rising to account for 20.85 per cent of the FTSE 100, compared with 20.61 per cent, before slipping back down again. [...]
HSBC chief executive Stuart Gulliver cancels pay freeze after two weeks and raids 2017 bonus fund to cover the cost February 11, 2016 HSBC has cancelled plans for a pay freeze this year, according to a new memo from chief executive Stuart Gulliver. Less than two weeks ago, it was revealed the bank planned to impose a pay freeze and a hiring freeze across its global business in an effort to save up to $5bn by 2017. However, in [...]
City Moves for 20 December 2016 | Who’s switching jobs December 20, 2016 Intermediate Capital Group Intermediate Capital Group (ICG), the specialist asset manager, has appointed Brian Marshall as managing director of business and product development for its US capital markets business. His responsibilities will include capital formation, developing and managing investor relationships, and contributing to the development of new products. Brian will interact extensively with ICG’s global [...]
Aberdeen Asset Management chief executive Martin Gilbert predicts HSBC will keep its headquarters in the UK January 12, 2016 A top investor in HSBC has said that Europe's biggest bank is unlikely to move its headquarters from the UK. "The logistics of moving their headquarters out of London are so vast," Aberdeen Asset Management chief executive Martin Gilbert told Bloomberg TV this morning. "I suspect much as they might want to move their headquarters, [...]