FTSE 100 hits one-month low as Greek deficit fears weigh April 22, 2010 The London Report FTSE 100 hits one-month low as Greek deficit fears weigh BRITAIN’S top shares fell to a one-month closing low yesterday after news that Greece’s deficit widened more than expected hit investor sentiment, sending commodity and bank stocks into reverse. A downgrade of Greece’s debt rating from Moody’s Investors Service added to investor [...]
Geoghegan in new HK base January 27, 2010 HSBC chief executive Michael Geoghegan yesterday began work in his new principal office in Hong Kong, after officially completing his relocation to the region from London. Geoghegan’s move, which was announced last September, is intended to underpin the bank’s strategy of focusing on the emerging markets of Asia. “This is a key market for HSBC [...]
London rises as miners and energy companies set pace March 1, 2010 LONDON’S top share index rose one per cent yesterday as big gains from miners and energy stocks, boosted by firmer commodity prices, outpaced faltering banks following disappointing results from HSBC. The FTSE 100 closed 51.42 points higher at 5,405.94 points, having hit a five-week high earlier in the session of 5,420.83. The index has rebounded [...]
HSBC debuts ultra-low rate on home loan September 2, 2009 HSBC has waded further into the mortgage market by offering a new deal at 1.99 per cent for borrowers who can stump up a 40 per cent deposit. The rate, the lowest ever for a home purchase or remortgage and a substantial discount on the bank’s standard variable rate (SVR) of 3.94 per cent, will [...]
CITY MOVES | WHO’S SWITCHING JOBS April 13, 2010 Hoare Capital The agency broker has appointed Tim Cartmell as chief operating officer and promoted Sergio Marques and Andrew Sheppard to partner. Cartmell (pictured) currently runs the firm’s credit desk, having previously held positions as head of gilt sales at JP Morgan and head of UK credit sales at Dresdner Kleinwort. Marques is responsible for [...]
FTSE 100 is dragged down by banks despite healthy UK economic recovery March 30, 2010 BRITAIN’S top share index ended 0.7 per cent lower yesterday, dragged down by banks, which extended the previous session’s losses, in thin trading ahead of the Easter break. The FTSE 100 index ended down 38.34 points at 5,672.32, having closed above 5,700 for the last three sessions. The index hit a 21-month intra-day peak at [...]
Model citizens can get the best deals May 13, 2010 THE turmoil of the past two years has been unforgiving for first time buyers. In the boom times they were falling over themselves to snap up properties before prices shot up further, fuelled by a plethora of mortgages that offered 100 per cent borrowing and sometimes even more than that (thank you, Northern Rock). By [...]
Business lending in January slumps at fastest annual rate since records begin March 18, 2010 LENDING to businesses fell at its fastest annual rate in January since records began more than a decade ago, figures from the Bank of England (BoE) showed yesterday. The flow of net lending fell £6.5bn in January, nearly twice as fast as in December, the BoE said in its Trends in Lending report. That pushed [...]
CITY VIEWS: HOW DO YOU FEEL IN LIGHT OF HSBC BOSS MICHAEL GEOGHEGAN’S WARNING OF A DOUBLE-DIP RECESSION? October 5, 2009 PATRICK CROSS THOMSON REUTERS“We’re definitely heading into a recovery, technically speaking, but it is unwise to get too confident, too soon. Consumers need evidence of improvement before they’ll head out to the shops. A double-dip recession is a possibility, if confidence doesn’t rise.”JEREMY LEIVERS HALLIWELLS“We could certainly see a double dip, but the second slump [...]
Why every firm needs a Facebook February 11, 2010 BACK when they started out in the corporate world Mike Powell and Ken Yeadon can remember a time when computers were rare. That was back in the mid 1980s when they both started work in HSBC’s trading department. A quarter of a century later and things have changed. Now, through their private equity company Thematic [...]