What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
As HSBC says it could move its HQ, is London’s position as a global financial centre at risk? April 26, 2015 Jason Hollands, managing director at Tilney BestInvest, says Yes. The news that HSBC is to consider moving its head office is a warning shot to voters and policy-makers that London’s pre-eminent position as perhaps the leading global financial centre simply cannot be taken for granted. Yes, it has “natural” advantages, being in a time zone [...]
30% Club founder Helena Morrissey warns plans to link bonuses to gender equality targets may backfire as Virgin Money boss Jayne-Anne Gadhia publishes women in finance review March 22, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of [...]
Peg bonuses to gender targets: Bank boss reveals plan, but fellow City leaders warn it could backfire March 21, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of the remuneration [...]
FTSE 100 index closes flat on last day of the month as supermarkets come into focus February 29, 2016 The FTSE 100 index closed slightly higher on the quiet last day of the month after the G20 disappointed over the weekend. The UK's blue-chip index closed 0.02 per cent higher at 6,097 points. "It was almost as if investors forgot about the leap day and no investments were planned on a quiet last day of the month," said [...]
HSBC to move 1,000 jobs from Canary Wharf to Birmingham March 24, 2015 HSBC will move 1,000 jobs from its Canary Wharf headquarters to Birmingham from 2017, the bank said today. In a statement today, it added that the jobs will be head office roles at its ring-fenced bank. Under rules due to be set out by the Prudential Regulation Authority (PRA), banks must separate their "core" retail [...]
Nina Ricci heiress Arlette found guilty in HSBC Swiss tax fraud leaks case April 13, 2015 Arlette Ricci, heiress to the Nina Ricci perfume and fashion fortune, has been found guilty of tax fraud in a case prompted by a leaked list of people who used the services of HSBC in Switzerland. A Paris court sentenced Ricci, the 73-year-old granddaughter of co-founder Nina Ricci, to three years in jail with two [...]
Bumper dividend payments were a boon to investors trying to cope with intense volatility last year, according to Henderson Global Investors February 22, 2016 Bumper dividend payments provided welcome relief for investors throughout the world last year, during a period of intense volatility. With uncertainty prevalent in global markets during 2015, dividend income almost entirely compensated investors for the $1.3 trillion decline in the values of shares, a report by Henderson said this morning. Global dividends reached $1.15 trillion in [...]
At the close: FTSE 100 index surges as banks’ share prices including Lloyds, RBS and Barclays rise February 25, 2016 The FTSE 100 index rocketed on Thursday as banking stocks surged, supported by the news that fourth quarter UK GDP was revised upwards to 0.5 per cent. The index closed 2.48 per cent higher at 6,012 points, led higher by Lloyds Banking Group and RSA Insurance Group. "European banks were the centre of market turmoil two [...]
HSBC cuts target for profitability on rising costs February 23, 2015 HSBC’S annual profits dropped by 17 per cent in 2014, and the bank’s bosses cut its targets for profitability. Much of the damage came from a $3.7bn (£2.4bn) provision covering fines and settlements, redress for customers and lower gains from disposals. Those factors contributed to the $3.9bn fall in pre-tax profits to $18.7bn for the [...]