Chancellor George Osborne’s bank tax comes under attack from Labour and SNP September 6, 2015 Small challenger banks and building societies will receive a boost if Labour and the SNP are successful in their attempt to amend Osborne's new bank tax. In his budget this year, the chancellor announced plans to replace the increasingly unpopular bank levy with an eight per cent surcharge on profits for banks of all [...]
The Hut Group eyes acquisitions after securing £210m loan September 2, 2015 FOOTWEAR-to-protein shake online conglomerate the Hut Group has secured a £210m loan with its banks as it eyes further expansion. The firm, which counts retail veterans Sir Stuart Rose and Sir Terry Leahy among its backers, said it has replaced a £80m loan with a £210m credit facility provided by six banks, including Barclays and [...]
City Moves for 27 October 2015 | Who’s switching jobs October 26, 2015 LOMBARD ODIER Duncan MacIntyre has been appointed chief executive of the banking firm’s private client business in the UK. He joins from Coutts & Co, where he founded and was global head of its private office. MacIntyre has also worked as a senior private banker at JP Morgan, which he joined from Robert Fleming & [...]
Technology is replacing school ties in companies’ battle to keep their employees honest July 28, 2015 The activities of the House of Lords are very much in the news at the moment. But the members do carry out serious work, not least on the Economic Affairs Committee. Earlier this month, Lord Green, former chairman and chief executive of HSBC, appeared before them. Yes, the noble Lord admitted, the bank had not [...]
At the close: FTSE 100 closes flat on first trading day in November November 2, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by Visa US helped rally banking stocks. The FTSE 100 ended Monday's session 0.01 per cent up at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, [...]
FTSE dragged down by HSBC and utilities – London Report November 3, 2014 BRITAIN’S top equity index broke a four-day rise yesterday as a drop in major utility stocks and in global banking group HSBC dragged the UK stock market lower. The blue-chip FTSE 100 index closed down by 0.9 per cent at 6,487.97 points. Last week, it had extended a rebound off 15-month lows reached in October. [...]
Stocks boosted by good news on Greek banks – London Report July 20, 2015 THE REOPENING of Greek banks, as well as positive broker sentiment on a few of the bigger names in the market helped to boost British stocks yesterday. The blue-chip FTSE 100 index closed up 0.2 per cent at 6,788.69 points after falling in the previous session. Shares in HSBC rose 1.1 per cent to 586.6 [...]
August Bank Holiday 2015 blues for Barclays, RBS and NatWest staff as local branches stay open August 27, 2015 In these modern times of accessibility and 24-hour contact, is the Bank Holiday becoming part of Britain’s history more than a cultural event? Three lenders were excited to announce the desecration of the sacred so-called bank holiday weekend by opening branches across the country. While execs and chairs head off to their homes in the [...]
Gresham Computing prospers in wake of Clareti software boom August 10, 2015 GRESHAM Computing, which makes software for investment banks, yesterday said strong sales of flagship product Clareti Transaction Control (CTC) had propelled a jump in revenue. Total revenues were £7.1m for the half year, up from £6.4m last year, bolstered by group software sales rising 38 per cent. CTC sales rose 247 per cent alone, accounting [...]
HSBC unfairly sold loans to small firms October 22, 2014 HSBC and First Trust Bank broke competition rules by wrongly indicating that small businesses had to have an account with them if they wanted a loan, the Competition and Markets Authority (CMA) said yesterday. Former regulator the Office of Fair Trading (OFT) began the investigation, last year telling HSBC to review its sales process. In response, [...]