Trader mistake sends HSBC shares soaring January 30, 2014 Someone out there is probably feeling very daft right now, after a huge fat finger saw some hefty HSBC price action. A 1.6m share order saw shares rocket. Over 1.6m shares traded on that $HSBA spike to 688p, possibly a #HFT algo ran amok? Expensive mistake if so! #HSBC RO pic.twitter.com/5OtFjki1ty — IGSquawk (@IGSquawk) January [...]
Qatar to raise bid for Canary Wharf owner Songbird Estates after £2.2bn offer rejected November 16, 2014 Qatar Investment Authority (QIA) and Brookfield Property Partners are close to tabling a higher takeover bid for Canary Wharf Group’s parent company, Songbird Estates, after their earlier £2.2bn offer was rejected. Songbird’s chairman David Pritchard rejected an initial approach 10 days ago, saying the 295-pence-a-share offer significantly undervalued the group. QIA, the sovereign wealth fund [...]
Balls: Markets alone won’t deliver for UK February 9, 2015 INTERVIEW Labour’s shadow chancellor Ed Balls discusses markets, exports and business backing with David Hellier IT’S BEEN a bit of a bruising few days for those in the Labour Party charged with finessing its relationship with the UK’s top business leaders. But that won’t stop Ed Balls relishing the prospect of speaking at the British [...]
Banks place leftover Mothercare shares to take haul to £100m October 27, 2014 RETAILER Mothercare raised a further slug of cash to boost its digital expansion yesterday after banks placed the leftover shares from its rights issue. The babycare specialist launched a fundraising last month to help it add a stronger online presence to its bricks-and-mortar offering. Banks underwriting the offering – Numis Securities, JP Morgan Cazenove and [...]
UBS to settle over precious metals misconduct allegations as part of forex market rigging probe November 9, 2014 UBS are expected to strike a settlement with financial regulators over allegations of misconduct at its precious metals trading business. The settlement will form a part of a £1.5bn agreement the Swiss lender is due to make with five other banks to settle allegations of forex market rigging. According to a report in [...]
Sainsbury’s Christmas advert, forex fines, Rosetta and the Double Donut Burger: 10 things we learned this week November 14, 2014 1. Sainsbury's has stolen the Christmas ad crown from John Lewis. Maybe. But have either of them done enough to be considered for our Christmas ad hall of fame, which includes a 1950s Coca-Cola number and the 1992 Yellow Pages classic? 2. Bankers' forex rigging was £1.1bn of bad. RBS, HSBC, UBS, JPMorgan and [...]
HSBC changes rules after block on withdrawals January 26, 2014 HSBC staff should not deny customers access to their own cash unless they suspect financial crimes, the bank told employees yesterday. It comes after complaints that some customers were not allowed access to funds. As part of its compliance controls the bank asks customers why they want to take out large sums of cash, and [...]
Poulter hunting Jimenez in bid to end title wait November 13, 2014 ENGLAND’S Ian Poulter roared into contention for a first title for two years with a blistering back nine on the first day of the Turkish Airlines Open yesterday. Poulter sank eight birdies and an eagle in an eight-under-par round of 64 that left him in second place, just one stroke behind the leader, evergreen Spaniard [...]
London Report: HSBC drops yet FTSE closes in on an all-time high February 24, 2014 GAINS at Vodafone and business supplies distributor Bunzl enabled Britain’s top equity index to rise yesterday for the seventh straight session. The blue-chip FTSE 100 index closed up by 0.4 per cent, or 27.80 points, at 6,865.86 points – just 1.2 per cent below its December 1999 record level of 6,950.60. Vodafone and Bunzl together [...]
RBS says it is reviewing staff conduct following Forex scandal fine November 12, 2014 The Royal Bank of Scotland (RBS) has announced that it is investigating the conduct of over 50 members of its staff, in a sign of penitence for its involvement in the Forex market rigging scandal. This morning, five banks including RBS were given hefty fines by the Financial Conduct Authority (FCA) for "failing to [...]