FTSE rockets to pre-crisis level as investors bet on US recovery November 4, 2010 BRITAIN’S top shares closed at their highest in nearly 29 months yesterday as investors responded bullishly to the US Federal Reserve’s decision to pump more cheap money into the economy to boost flagging growth. Financial stocks, led by Man Group and mining and energy shares such as BHP Billiton and BP, surged higher as riskier [...]
PERSONAL FINANCE NEWS October 14, 2010 THIRD OF ADULTS WITHOUT SAFETY NET Almost a third of adults have less than £249 set aside as a financial safety net and 19 per cent have no savings at all to fall back on, according to new research from HSBC. This is equivalent to just five days average take home pay while the recommended [...]
PERSONAL FINANCE NEWS October 14, 2010 THIRD OF ADULTS WITHOUT SAFETY NET Almost a third of adults have less than £249 set aside as a financial safety net and 19 per cent have no savings at all to fall back on, according to new research from HSBC. This is equivalent to just five days average take home pay while the recommended [...]
US data shows housing uptick October 4, 2010 Pending sales of previously owned US homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit. Another report yesterday showed new orders received by domestic factories fell 0.5 per cent in August as demand for transportation equipment [...]
HSBC admits that data theft hit up to 24,000 accounts March 11, 2010 HSBC has confirmed that a theft of data by a former employee affected up to 24,000 Swiss client accounts. The bank had previously said “less than 10 clients” were compromised after a former HSBC computer specialist stole client data from the bank which he handed over to French tax authorities. HSBC said in a statement: [...]
HSBC’s chief gives up £4m February 28, 2010 HSBC boss Michael Geoghegan will announce plans today to hand over his multi-million pound bonus to charity as the banking giant reveals annual results. Geoghegan, who was is understood to have been in line to receive a £4m payout, will donate his bonus to charity after the bank’s strong 2009 performance. HSBC’s annual profits are [...]
BEST OF THE BROKERS August 3, 2010 RENAULT Bank of America Merrill Lynch (BoAML) has confirmed its “buy” rating on French car manufacturer Renualt and raised its price target by €4 to €50. BoAML cites a solid performance in core business, and results ahead of consensus by affiliates Nissan and Volvo, and forecasts full-year net industrial debt will drop to €5.1bn. BNP [...]
BoA Merrill to rejig European finance team September 14, 2010 BANK of America Merrill Lynch yesterday unveiled changes in its team covering Europe’s financial firms, following similar announcements from two other banks ahead of an expected increase in equity raisings and deals. Bank of America Merrill Lynch hired four financial institutions group (FIG) bankers and said it was rejigging its Europe, Middle East and Africa [...]
BoA Merrill to rejig European finance team September 14, 2010 BANK of America Merrill Lynch yesterday unveiled changes in its team covering Europe’s financial firms, following similar announcements from two other banks ahead of an expected increase in equity raisings and deals. Bank of America Merrill Lynch hired four financial institutions group (FIG) bankers and said it was rejigging its Europe, Middle East and Africa [...]
Exodus fears as banks reshuffle September 7, 2010 A SHAKE-UP at the helm of two of the UK’s largest banks is fuelling fears that the country could lose its top banking institutions overseas due to an over-zealous approach to regulation of the industry. Barclays yesterday shocked the markets by appointing Barclays Capital boss Bob Diamond to run the business. Current chief executive John [...]