Burberry’s share price jumps as mystery investor shops at the luxury group March 8, 2016 Burberry lead the FTSE 100 this morning after reports last night that a mystery investor has built up a five per cent stake in the luxury goods company. Regulatory filings show that the shareholder's stake went over the five per cent disclosure threshold on 11 February, with HSBC acting on behalf of the investor. A separate [...]
Investment banks endure worst first quarter since financial crisis May 24, 2016 The world's 12 largest investment banks endured their slowest start since the financial crisis, in what's typically their most lucrative period. Their revenue fell 25 per cent in the first quarter from a year ago as a wave of volatility rippled through financial markets, according to research by industry analytics firm Coalition. European bank shares hit multi-year lows [...]
China and US dominate the top 10 in banking world rankings, as UK gets pushed down the league table June 29, 2016 China and the US are the leaders of the banking world, with banks from these two countries dominating a list of the top 10 banks worldwide published today. China's banks secured four out of the five top slots of the The Banker's 2016 Top 1,000 Banks list, with ICBC keeping hold of its number one slot from [...]
Google’s Apple Pay rival Android Pay is finally here in the UK May 18, 2016 Good news for anyone eager to pay using just the swipe of their mobile, but who doesn't own an iPhone. Google's Android Pay is launching in the UK today, bringing the tap and pay technology to millions of smartphone users across the country. A rival to Apple Pay which launched last year, the app lets users pay by [...]
Even City bigwigs think it’s time to overhaul the pay structures used by the UK’s biggest listed firms April 21, 2016 It's not just shareholders who are showing their growing unrest at vast executive pay packets. Now some of the most influential figures in the City have spoken out against pay models that they claim are "not fit for purpose". Big names including Legal & General boss Nigel Wilson, Sainsbury chairman David Tyler and Helena Morrissey, chief [...]
HSBC fires Birmingham staff after filming video of mock-Islamic State execution July 7, 2015 HSBC has sacked several employees who made a video in which they pretended to be Islamic State militants beheading a hostage. The video, which was posted online, shows one man dressed in an orange jumpsuit surrounded by five other men dressed in black, one of whom was holding a fake knife. One man is [...]
This chart shows how many current account switchers Barclays, HSBC, Lloyds and NatWest have lost July 29, 2015 New rules which make it easier for customers to change current accounts resulted in a four per cent increase to 1.1m switches, compared to 1.06m during in same period a year earlier. The rules, introduced in October 2013, allow customers to switch accounts within seven working days, with all outgoing and incoming payments transferred automatically. [...]
HSBC Private Bank breaks a run of bad press June 4, 2015 HSBC has been in the headlines for all the wrong reasons lately, so imagine the sheer relief on the face of its Private bank chief, Francesco Morra, as Private Banker International (PBI) handed the bank an award for outstanding work with international clients. The PBI London Awards, dedicated mainly to the UK and European markets, [...]
FTSE 100 heads for biggest weekly gain in six weeks May 27, 2016 Britain's FTSE 100 was on course for its biggest weekly gain in six weeks today. The commodity heavy blue-chip index was up 1.7 per cent on the week, after oil prices touched $50 per barrel yesterday, and bank shares also made gains. It was down 0.1 per cent to 6,260.3 points in late afternoon trading. The [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]