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 [...]
Wall St dips on third-quarter earnings jitters – New York Report October 6, 2015 A five-day winning streak came to an end on Wall Street yesterday, as investors focused on upcoming quarterly reports that are expected to reflect a dip in corporate earnings. The Dow Jones industrial average edged up 0.08 per cent to end at 16,790.19 points. The S&P 500 lost 0.36 per cent to 1,979.92 and the [...]
Microsoft Surface Pro 4: Tech giant unveils new smartphones, tablets and fitness tracker October 6, 2015 Microsoft today unveiled a range of new products heralding what has been described by the company as its “next chapter”. This included a new line of Lumia smartphones, a new surface pro tablet as well as an updated version of its fitness tracker, Microsoft Band, which will run on its latest operating system Windows 10. [...]
Tesco share price closes up ahead of first half results on Wednesday October 6, 2015 Shares in troubled supermarket Tesco closed up three per cent to 192.10p per share this afternoon, ahead of its full-year results which are due out tomorrow morning. Tesco's shares inched up at the open, and added about one per cent over the course of the morning, and continued to make gains throughout the afternoon. Shares [...]
World’s most-used payment currencies: China’s renminbi knocks Japan’s yen off fourth place behind the US dollar, the euro and sterling October 6, 2015 China's renminbi became the fourth most-used world payment currency in August, overtaking Japan's yen, meaning it's behind only the US dollar, the euro and the sterling. "Important to note is the volatility in the Chinese market and the devaluations of the renminbi, which took place in August 2015. These facts likely played a significant role in its [...]
Facebook will beam free internet down from space next year October 6, 2015 In its mission to bring internet connectivity to all parts of the world, Facebook is sending a satellite into space next year. Facebook is currently building Amos-6 in partnership with French satellite company Eutelsat. Once it is complete it will be launched into geostationary orbit above Africa, at which point Facebook will work [...]
HSBC boss Stuart Gulliver wants bank to play major role in AB InBev’s planned takeover of SABMiller October 6, 2015 HSBC boss Stuart Gulliver is trying to persuade the lender to play a major role in financing a possible takeover of SABMiller by rival US-based brewing giant Anheuser-Busch InBev. Gulliver met executives from Budweiser maker AB InBev late last week to discuss a potential involvement for HSBC, according to a report on Sky News. [...]
BP ordered to pay more than $20bn to settle claims from Gulf of Mexico oil spill October 6, 2015 Oil giant BP has been ordered to shell out more than $20bn (£13.2bn) in fines to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago, US attorney general Loretta Lynch said yesterday. It is the largest corporate settlement of its kind in US history. The agreement, first [...]
City analyst slams Fnac’s bid for Darty and warns firm may have to sweeten deal October 6, 2015 A leading City analyst yesterday spoke out against Fnac’s bid for electronics rival Darty, saying the proposed offer significantly undervalued the company. The French electronics and music retailer made an offer of 101p per share for Darty on Wednesday, in a deal that would value its UK-listed rival at £533m. Fnac said its offer represented [...]
Universal Music to move UK headquarters from Kensington to King’s Cross October 6, 2015 Universal Music is moving its UK headquarters to King’s Cross, in a major coup for Argent, the developers behind the regeneration of the 67-acre scheme. The music giant, which is currently based in Kensington, confirmed it has signed a long-term lease for the entire office space at Four Pancras Square, a ten-storey building totalling around [...]