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 [...]
Chinese manufacturing activity dips to six-month low January 30, 2014 In January, in what continues to be a poor start to the year for the world's second biggest economy conditions for the Chinese manufacturing sector worsened. The Markit/HSBC purchasing managers' index (PMI) fell to its lowest level in six months to 49.5 in January from 50.5 in December. The number has slipped below the 50-level [...]
City Moves for 29 January 2014 | Who’s switching jobs January 28, 2014 KPMG The professional services firm has announced the appointment of Mike Walters as a partner and head of its financial risk management group. He was most recently at Barclays, where he was global head of compliance. Nikko Asset Management The asset management firm has made two senior appointments. Takuya Koyama has been appointed global head [...]
HSBC: There’s no need to fear a strong pound January 27, 2014 EXPORTERS should benefit from a higher sterling because British firms buy as much from abroad as they sell, HSBC said in a report today. Traditionally a weak pound is thought to benefit exporters because it reduces the price of their goods to overseas buyers and so makes them more competitive. But UK manufacturers are now [...]
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 [...]
Q and A: How easy is it to get your cash out? January 26, 2014 Q Do all banks ask customers why they are making larger than usual withdrawals? A “Generally speaking, yes,” said a spokesman for the British Bankers Association. “The thinking is that customers want access to their money at any time, but banks also have a duty of care to stop fraud. Cash is a very insecure [...]
City Moves for 27 January 2014 | Who’s switching jobs January 26, 2014 SSE The energy supplier has announced the appointment of Jane Bednall as managing director for domestic energy. She previously held senior positions at the Intercontinental Hotel Group. Lombard Odier Group The private bank has named Hugo Banziger as a managing partner. He is currently chairman of the board of directors at Eurex. He previously worked [...]
City Moves for 24 January 2014 | Who’s switching jobs January 23, 2014 SEI The investment management firm has announced the appointment of Brett Williams as UK managing director of its wealth platform. He joins from LW2 Private Equity Partnership, where he was a partner. Prior to that, he held senior roles at Cofunds, Selestia and Skandia UK. PwC The professional services firm has appointed Philip Smith to its [...]
London Report: Sharpest fall in the FTSE since turn of the year January 23, 2014 BRITAIN’S main equity index yesterday suffered its biggest one-day fall this year, weighed down by disappointing US economic data and weak updates from Easyjet and Pearson. Global stocks extended losses in the afternoon as data showed US manufacturing growth slowed in January for the first time in three months. The data further undermined sentiment towards [...]
China’s factory sector contracts for the first time in six months January 23, 2014 Asian stocks dipped in Thursday trading, after an unexpected contraction in China’s factory activity in January. HSBC’s flash manufacturing purchasing managers’ index came in overnight at 49.6 from 50.5 in November and below expectations of 50.6. The number hails the first contraction in six months, as new orders declined and exports stayed soft. On [...]