Chinese banks’ brands overtake HSBC and Santander by value February 1, 2015 CHINESE banks are leaping up the league tables of valuable brands, overtaking western titans according to a study out today from Brand Finance and The Banker magazine. ICBC’s valuation rose by 20 per cent on the year, climbing from sixth place to second, overtaking HSBC and threatening number one brand Wells Fargo. Agricultural Bank of [...]
HSBC scandal takes the spark out of the FTSE – London Report February 9, 2015 THE UK’s top share index edged lower yesterday, hurt by a fall in HSBC after the bank admitted tax failings at its Swiss unit and by softer utility stocks. The blue-chip FTSE 100 index was down 0.2 per cent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent [...]
Brace yourselves: Deutsche Bank share price suffers as European markets including FTSE 100, Dax and Cac dive on fears of a downturn February 8, 2016 Deutsche Bank shares finished the day 9.5 per cent lower in Frankfurt at €13.82 as European markets spent the day in a steady decline – with analysts warning of downturn fears. Deutsche, which last week issued a profit warning, was pushed lower on a rise in credit default swap spreads, CMC markets analyst Jasper Lawler said. Read [...]
Financial Conduct Authority “working closely” with HSBC over tax allegations February 16, 2015 The Financial Conduct Authority (FCA) is "working closely" with HSBC and other agencies to ensure current cultural practices fall in line with standards, following allegations that the bank helped its clients engage in tax avoidance. "This has served to reinforce the importance of firms operating with the right culture across all of their operations," the [...]
Bannister should tell all about HSBC – Editor’s Letter February 16, 2015 Clive Bannister is a very companionable dinner guest, rightly proud of his achievements in business and of his father Roger, who became the first person to run a mile in less than four minutes. He is just as proud, possibly more so, of his father’s achievement in going on from his success on the sports [...]
Who’s facing the axe in 2016? Bookmaker offers odds on CEO sackings January 3, 2016 Let's face it; everyone dreads the first day back at work. To keep stress levels especially high at the top, bookies Ladbrokes have been drawing up odds on which CEOs will be clearing their desks by the end of the year. Only two chiefs can afford to relax, according to the firm; Easyjet’s Carolyn McCall and Taylor [...]
Tesco, Sainsbury’s and M&S are among most praised companies by NGOs but VW and Royal Dutch Shell make “naughty” list of most criticised January 18, 2016 Tesco, Sainsbury's and M&S are certainly not having the best of times on the high street these days, but there's one place their winning at least. The three are among several of the biggest global companies to make a "nice" list of companies which pressure groups and campaigners across the world, from the likes of Which? to Greenpeace, have [...]
Uber’s $62.5bn valuation means it’s worth more than BT, Prudential and Barclays – and 86 other FTSE 100 constituents December 4, 2015 Uber is reported to have filed paperwork outlining plans to raise as much as $2.1bn (£1.4bn) in its latest funding round. Were the company to complete that funding round (and according to the Bloomberg report, the wheels are very much in motion for that to happen – with Tiger Global Management and T Rowe Price both [...]
South African pension fund ups stake in Lonmin after shareholders shun rights issue December 14, 2015 South Africa’s Public Investment Corporation (PIC) upped its stake in embattled platinum producer Lonmin, after shareholders snubbed a crucial rights issue. The PIC, which manages South African government employee retirement funds, increased its stake from seven to 29.9 per cent, after shareholders bought just 71 per cent of its share sale. The shares had been priced at [...]
Private equity house KKR to buy scientific testing specialists LGC from London investment firm Bridgepoint December 8, 2015 American private equity firm KKR has agreed to buy life sciences firm LGC from London-based investment group Bridgepoint for an undisclosed sum. LGC said under KKR’s ownership it plans to “continue the rapid development of the business” with a particular focus on the US and Asia. The company specialises in scientific testing, including DNA testing [...]