RBS and other UK banks facing first quarter earnings woe after US lenders posted a sharp drop in profit April 25, 2016 British banks are set to post first quarter profits this week that are weighed down by the rising risk of Brexit, bad debt, and poor investment banking performance. The difficult period has already dragged down profits at some the biggest US banks, though they largely managed to beat low estimates. Citibank, Goldman Sachs, Bank of [...]
Winterflood Securities founder Brian Winterflood says the whole family is voting for a Brexit March 21, 2016 Whether you're In or Out, the EU referendum is a thorny issue in finance. Some are more vocal than others. Eurosceptic group Business for Britain counts a number of bankers and fund managers among supporters, while last month HSBC chief Stuart Gulliver told reporters: "It’s in Britain’s economic interest to remain in a reformed EU, and [...]
Common investment errors that are losing you money May 26, 2016 For all the fire and fury about institutional investors and corporate executives destroying long-term value by failing to think beyond the next quarter, perhaps it’s ordinary savers that have the greater problem. Despite more and more people enjoying lengthy periods in retirement, and funding that retirement increasingly being a responsibility of the individual, HSBC Global [...]
HSBC and First Direct customers can finally use Apple Pay July 28, 2015 The mobile payment system launched in the UK in mid-July to great excitement, but not all banks supported it from the start. Although HSBC was supposed to be a launch partner, when the day came, customers were told the service had been delayed, and that the bank was “working hard” to get it running by [...]
Former HSBC boss Lord Green says HSBC should’ve done more due diligence ahead of Swiss private bank purchase July 14, 2015 Former HSBC boss Lord Green today admitted that it should've done more due diligence ahead of its purchase of its Swiss private banking arm. Green, who was the bank's chief executive between 2003 and 2006 and as its chairman between 2006 and 2010, told members of the Lords' economic affairs committee neither he nor the [...]
Say what? Gold isn’t a good hedge against economic crashes, study says July 13, 2016 Anyone who snapped up gold to weather the recent market turmoil might want to stop reading now. New research suggests that the precious metal's widespread reputation as a safe-haven is not entirely correct. In fact, it's actually a poor punt for investors who want to protect their portfolios from economic meltdowns and stock market sell-offs. It comes just weeks after Britain's [...]
Trump versus Hillary: How to make money whoever wins the US presidency November 8, 2016 This presidential campaign has been nothing if not unpredictable. Less than a fortnight ago, a victory for Hillary Clinton looked all but certain. Then it emerged that the FBI was investigating a new set of emails connected with her private server. Now, she has been cleared, but Donald Trump is arguing that her latest exoneration [...]
Premier Foods boss should keep bidders hungry April 1, 2016 Rival international bidders, restive shareholders and conflicting pension deficit assumptions: like all chefs, Gavin Darby is juggling an eclectic mix of ingredients. His company, Premier Foods, home to Mr Kipling, Bisto and Sharwoods, looks tastier than it has for years. A fresh offer from McCormick of the US, worth 65p-a-share, has rightly prompted Darby and his [...]
Move over iPhone fingerprint tech, the latest Samsung scans eyes August 2, 2016 It's time for Apple's iPhone fingerprint technology to move over – at least that's what Samsung is hoping. The rival Korean smartphone maker has unveiled its latest device – the Galaxy Note 7 – which has trumped its rival's use of biometrics with eye-scanning technology. Read more: Passwords are passe: Nationwide is testing behavioural biometrics The Note [...]
China raises £300m in London as part of first ever overseas RMB bond May 26, 2016 China's finance ministry today issued a three billion yuan (£312m) international bond, its first ever outside China or Hong Kong. The bond, set to be listed on the London Stock Exchange, was managed by HSBC and China's finance ministry. In October last year, China's central bank debuted on London markets with the sale of its first [...]