Recession teaching kids to save March 15, 2010 Young children have been hard hit by the recession but have learned the importance of saving, new research from YouGov commissioned by HSBC and the Personal Finance Education Group. The report found 43 per cent of those children interviewed had heard adults say they cannot buy something because of the recession more than once a [...]
Banks boost FTSE after Euro bailout May 10, 2010 BRITAIN’S leading share index scored its biggest one-day per cent rise in nearly 18 months yesterday as the $1 trillion (£645bn) Eurozone rescue package doused concerns of EU debt defaults and further economic dislocation. Bank stocks, which plunged last week on their exposure to debts of Greece and other EU states, led the advance as [...]
WHAT ARE YOUR THOUGHTS ON HSBC’S RESULTS? August 3, 2009 HENK POTTS BARCLAYS WEALTH“Messy numbers, with various accounting changes, but definitely ahead of expectations and sentiment towards the sector continues to improve. Household, the US business which is largely in run-off mode, was the largest source of upside surprise with lower provisions and lower realised losses.” DAVID BUIK BGC PARTNERS“HSBC’s tier one capital stands at [...]
Sands does it again despite hard times March 3, 2010 IT’S almost impossible to believe. Despite the worst recession in a generation and the near-implosion of the global banking sector, Standard Chartered yesterday celebrated a seventh consecutive year of growth. Shrugging off the contraction in worldwide GDP, the Asia-focused bank booked record profits of $5.1bn (£3.4bn) thanks to strong performances from Hong Kong and India. [...]
Meares set for Asia move February 11, 2010 HSBC is looking to relocate Chris Meares, the global head of its private bank, from London to Hong Kong in order to take advantage of Asia Pacific’s growing wealth. JP Morgan’s head of private banking, Douglas Wurth, successfully completed his move to the region this week and other financial institutions are now looking to follow [...]
Returning to Asian roots will pay off March 1, 2010 SIR Michael Geoghegan might be in a charitable mood, but investors aren’t; the firm’s stock shed over five per cent to close at 682p yesterday, after worse-than-expected headline figures for the full year. The disastrous acquisition of Household is still the albatross around the bank’s neck. It is busy running off the now-closed division, but [...]
My corporate jet is easyJet: meet the platform boss taking on the LSE May 17, 2010 HE TALKS LOUDLY and moves fast. Alasdair Haynes, the chief executive of the pan-European trading platform Chi-X Europe, cuts a larger than life figure. The boss of the trading platform, which has grabbed a 30 per cent share of FTSE 100 trading from long-established rival the London Stock Exchange (LSE) since it was set up [...]
FTSE 100 declines on weaker metal prices and concerns over Greek debt April 8, 2010 Britain’s top share index posted its steepest one-day decline in six weeks yesterday, pressured by miners hit by weaker metals prices, and banks on revived concern over Greece’s debt. The FTSE 100 closed 49.36 points, or 0.9 per cent, lower at 5,712.70, its lowest close since March 31, after it shed 0.3 per cent on [...]
British banks facing further disappointments on revenues March 15, 2010 UK banks will likely see more revenue disappointment before rebuilding their profitability, Seymour Pierce said yesterday, adding that consensus expectations for banking income growth were far too optimistic. The brokerage said it was on average 10 per cent below consensus revenue expectations for 2012 for the sector, with the greatest disappointment likely at Royal Bank [...]
FTSE drops after Spain downgrade April 28, 2010 BRITAIN’S top share index closed lower yesterday, extending the previous session’s steep falls, after ratings agency Standard & Poor’s cut Spain’s credit rating to AA, overshadowing strong corporate earnings. The FTSE 100 index closed down 16.91 points, or 0.3 per cent, at 5,586.61, after it tumbled 2.6 per cent on Tuesday — its biggest one-day [...]