Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
EU regulators to fine HSBC, RBS and JP Morgan in Euribor probe November 5, 2013 The European Commission is near to fining several banks hundreds of millions for Euribor rigging – fixing the rate at which banks lend to each other in euros, reports Reuters. JP Morgan, RBS, Deutsche Bank, HSBC, Soc Gen and Credit Agricole will all face fines, with Barclays avoiding one as it was the lender which [...]
Golf Comment: Fine week for Europeans as season finale nears November 4, 2013 ENGLAND’S Ian Poulter threw the kitchen sink at him but in the end Dustin Johnson held firm to win the WGC-HSBC Champions in Shanghai on Sunday. The American, who finished on 24 under par, beat Poulter by three shots but only after the lead changed hands several times on the final day. Johnson played fantastically [...]
HSBC earnings soar as one-off expenses drop November 4, 2013 HSBC said yesterday that growth in Hong Kong and lower costs had helped push underlying profits 10 per cent higher to $5.06bn in the third quarter of the year, as the bank revealed it is being investigated in the worldwide foreign exchange probe. The bank said reported profits were up 30 per cent at $4.5bn [...]
Analyst Views: How is HSBC doing underneath all of its one-off gains? November 4, 2013 IAN GORDON | INVESTECProfit before tax is $4.5bn vs Investec $5.1bn and consensus $5.5bn. However, after adjusting for conduct costs ($0.4bn) and own credit ($0.6bn) quarter three appears roughly “in-line”. Hong Kong is a stand-out performer [and] constant currency customer loans are marginally up quarter-on-quarter too. RICHARD HUNTER | HARGREAVES LANSDOWNThe key metrics were, on [...]
Couple to bring Christmas cheer to the Guildhall November 4, 2013 STUCK for Christmas present ideas? The couple pictured below might just have the answer for you. Alderman John Garbutt and his partner Solangela Tangarife (who hails from Colombia and is herself a professional events organiser) have spent the past few months organising the British Red Cross Christmas Market, which takes place at the City’s Guildhall [...]
London Report: HSBC lifts FTSE as Ryanair and Weir Group sink November 4, 2013 BRITAIN’S FTSE 100 share index pushed ahead yesterday, as its biggest stock HSBC rose after solid results, outweighing weakness in the airline and engineering sectors following profit warnings. HSBC advanced 2.3 per cent in its biggest one-day rise in four months after quarterly profits rose by a tenth, year-on-year, meeting analyst expectations and reassuring investors [...]
HSBC’s 30 per cent profit rise pushes shares up as bank cooperates with forex probe November 4, 2013 HSBC have announced a 30 per cent increase in profit before tax, at $4.5bn (£2.8bn) in the third quarter of 2013, compared with $3.4bn in the same period of 2012. The boost, said the lender, was from strong growth in the UK and Hong Kong. Shares climbed on the news this morning. (Release) In the [...]
Merlin set to close books early after strong demand November 4, 2013 MERLIN Entertainment is planning to close the books on its £3bn stock market flotation ahead of schedule thanks to the strength of demand from institutional investors. The operator of Legoland, Alton Towers and Madame Tussauds is now expected to close the book on its initial public offering (IPO) later this week, instead of 11 November [...]
London Report: Recovery looks on track in busy reporting week November 3, 2013 SERVICES figures due out this week, plus the latest updates on industrial and manufacturing production, look set to show continued recovery for the British economy. “September’s industrial production figures are likely to show that overall output partially recovered from its surprise 1.1 per cent monthly fall in August,” said Martin Beck, of Capital Economics. “Manufacturing [...]
Johnson beats Brits in Shanghai November 3, 2013 GOLF: Former Open runner-up Dustin Johnson won his first World Golf Championship event in Shanghai, holding off the challenge of England’s Ian Poulter by three shots. Johnson carded a final round 66 at the WGC-HSBC Champions, with Poulter runner-up and Northern Ireland’s Graeme McDowell a further shot behind. Compatriot Rory McIlroy finished nine shots behind [...]