At the close: China concerns push FTSE 100 to finish down October 14, 2015 The FTSE 100 closed down for the third session in a row on Wednesday following data from China that showed deflationary pressures mounting. The index was 1.15 per cent lower at the close, at 6,269.61 points. Stocks with exposure to China fell, including Standard Chartered and luxury retailer Burberry Group, which ended the session 1.46 per cent [...]
FTSE retreats as aerospace and miners weigh – London Report October 13, 2015 Mining and aerospace stocks weighed on FTSE yesterday as the UK’s top share index fell after posting its biggest weekly gain since 2011 in the previous session. The benchmark FTSE 100 index was down 0.7 per cent at 6,371.18 points at its close, its first daily loss in nine sessions, having risen for the previous [...]
PwC to be investigated over audit of collapsed company Connaught October 12, 2015 The Financial Reporting Council (FRC) has decided to act on complaints against accountancy giant PwC and its senior statutory auditor Stephen Harrison over the auditing of social housing maintenance firm Connaught. Connaught went into administration in September 2010. The FRC's report accuses the company and the account's lead audit partner Stephen Harrison, who retired in summer 2010, of "fail[ing] to [...]
PwC to be investigated over audit of collapsed company Connaught October 12, 2015 * caption could read: Connaught's property management arm, which maintained social housing, went into administration The Financial Reporting Council (FRC) has decided to act on complaints against PwC and its senior statutory auditor Stephen Harrison over Connaught's auditing. Connaught is the social housing maintenance firm that went into administration in September 2010 and it is “alleged that [...]
Standard Chartered share price jumps as leaked memo from Bill Winters shows it will cut 1,000 senior management jobs October 9, 2015 New Standard Chartered boss Bill Winters has wasted no time in getting down to business, after he told staff the company is planning to cut a quarter – around 1,000 – of the bank's senior management roles. The Asia-focused lender has struggled as earnings slid over the past two years years, but since Winter's arrival earlier in the summer, [...]
Standard Chartered plan for subsidiary bank in India October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The London-based bank is the only one of India’s three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies, according to a report in the Financial [...]
Standard Chartered set to become India’s first foreign bank to set up a regional subsidiary October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The Financial Times has reported that the London-based bank is the only one of India's three big foreign lenders – the others are HSBC and Citigroup – to agree to regulatory changes requesting foreign banks set up subsidiary companies. [...]
Standard Chartered is looking to set up an Indian subsidiary October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The Financial Times has reported that the London-based bank is the only one of India's three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies. India [...]
Asian and African high earners save six times more than their UK counterparts – Standard Chartered October 6, 2015 High earners in emerging markets are saving over six times more than their British or American counterparts, according to a new study out this week from Standard Chartered. The study found that the so-called emerging affluent in Asia and Africa plan to save as much as 30 per cent of their income in the [...]
FTSE 100 closes at its highest level in six weeks as Glencore share price soars October 5, 2015 Britain's blue chip index closed up 2.8 per cent to 6,298.92 points today, its highest level since August 20, led by gains from commodities giant Glencore. Speculation had swirled over whether the Swiss miner would sell some assets to cut its debt, or even consider agreeing to a takeover. Shares in the company closed up 21.05 [...]