Waste giant Biffa has confirmed plans to float in London’s biggest IPO since the Brexit vote September 15, 2016 Biffa Waste Services today confirmed its intention to float on the London Stock Exchange in a deal which would reportedly value the firm at £1bn and propel it straight onto the main market. The company, which was forced to undergo a restructuring after the financial crisis, wants to raise £270m in what will be the biggest initial [...]
City remains in dark on HSBC chief executive Stuart Gulliver’s travel plans November 5, 2015 Should I stay or should I should I go? Not the song by The Clash, but the question on HSBC directors’ minds since the bank kicked off its review of whether it ought to move its headquarters. If the exercise was calculated to extract concessions from ministers for Europe’s biggest lender, it has been adroitly handled: [...]
R3 blockchain consortium : 12 new banks including Santander and Danske Bank join JPMorgan, Barclays and HSBC in blockchain experimentation December 17, 2015 Another 12 banks have joined the rapidly expanding blockchain consortium R3, including Santander and Danske Bank. The blockchain consortium was launched with nine members in September, but has grown explosively in the months that followed. With the new members, the total number of banks affiliated with the consortium has soared to 42. The idea is [...]
Has the bond bull run’s bubble burst? Unpicking the Trump effect and other influences that will shape the bond market in 2017 January 16, 2017 The election of Donald Trump as US President shocked the world and shocked the world’s markets. Yet that early reaction quickly morphed into euphoria, as stock indices in America experienced huge inflows and hit record highs. For investors left high and dry as trillions of dollars drained from safer fixed income bonds into riskier equities, the [...]
The UK’s biggest banks are bracing themselves for another £2bn on their PPI bill October 18, 2016 Britain's largest banks are set to add billions to their collective bill for payment protection insurance (PPI) mis-selling in the next two weeks. According to Sky News, executives at Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays are in the process of finalising top-up provisions, amounting to around £2bn in total – due to be [...]
FCA complaints are still dominated by PPI mis-selling October 6, 2016 The number of complaints lodged against financial services firms nudged down in the first six months of 2016 according to statistics released by the Financial Conduct Authority (FCA). The total number of complaints dropped by 2.6 per cent compared with the final six months of 2015. Barclays topped the list and received over a quarter of a million objections. Top five [...]
HSBC third-quarter results 2015: Investors await details on bank’s restructuring and relocation November 2, 2015 Investors will be looking for further indications of whether HSBC will relocate from London when Britain’s biggest bank reveals its third-quarter results today. It was reported last week that HSBC was considering moving its headquarters to the United States, rather than Hong Kong as previously anticipated. Management are expected to update investors on the review [...]
Russell Knox takes his place in golf’s elite with breakthrough WGC-HSBC Champions win November 9, 2015 I had to double-check when I heard that his landmark win at the WGC-HSBC Champions in Shanghai was Russell Knox’s first on either the European Tour or PGA Tour. Being a Scot, I’d been aware of him for a while and had kept an eye on his progress in the United States, where he plays [...]
City Moves for 6 July 2016 | Who’s switching jobs July 6, 2016 HSBC COMMERCIAL BANKING HSBC Commercial Banking has appointed Stuart Tait head of commercial banking, Asia-Pacific. He will relocate to Hong Kong from London to take up his new role. Stuart joined HSBC in 1984 and has held various positions in commercial banking, global banking and markets, retail banking and wealth management, risk and HR. His assignments have been in Asia, [...]
FTSE 100 history: how the index has changed over 33 years July 3, 2017 The FTSE 100 index has just seen one of its quarterly changes with security firm G4S and real estate investment trust Segro promoted to the top 100. Although perhaps small in themselves, these regular events have changed the face of the UK’s leading index since it was formed in 1984. For the many investors whose [...]