HSBC to rebrand UK retail banking arm – or possibly sell it June 9, 2015 HSBC will rebrand its UK retail banking arm as part of a move to ring-fence it from the rest of the group. Chief executive Stuart Gulliver, who this morning revealed HSBC was cutting 25,000 jobs worldwide, of which 8,000 are expected to be UK jobs, said he was not certain he would keep the [...]
UK trade deficit narrows to 13-month low as Eurozone GDP growth sticks at 0.4 per cent June 9, 2015 The UK's trade deficit – the gap between its imports and exports – narrowed to its smallest in 13 months in April, figures published today showed. The deficit more than halved to £1.2bn in April, compared with £3.1bn in March. Total exports rose 1.2 per cent between March and April, while imports fell 3.1 per [...]
HSBC job cuts: Unions slam move as punishing staff for “boardroom misconduct” June 9, 2015 Could Canary Wharf become a stage for the next major picket line? HSBC staff cuts have been blasted by unions, claiming the bank's employees are being “punished for boardroom misconduct”. This morning Europe's biggest bank revealed it was cutting up to 25,000 jobs worldwide, as it looks to make $5bn (£3.25bn) savings. Around [...]
This animation shows how 12 iconic company logos have changed over time: Coca-cola, Nike, Google, Apple, Microsoft June 9, 2015 Logos are key to how customers remember and relate to a company – meaning many avoid changing them too often. However, Zing Ecommerce has put together an animation showing how much some of the world's most widely recognised logos have changed over time. "It might surprise you how the most recognisable logos of some of [...]
Athens stocks jump as Greece submits new reform proposal to its creditors June 9, 2015 The European Commission (EC) confirmed today it has received a new reform proposal from Greece, which could finally unlock bailout money for the embattled nation. Read more: How to lose friends and alienate people – Tsipras faces backlash Reuters reported officials from the EC had confirmed receipt of the document, which was originally due on [...]
Plus500 has unfrozen 8,457 customer accounts June 9, 2015 Struggling spreadbetter Plus500 today announced it's unfrozen 8,457 customer accounts – saying that while the majority had resumed trading it was still too early to anticipate ongoing behavior of those customers. The Aim-listed firm said 5,205 of its customers whose accounts has been unfrozen had resumed trading – 61 per cent of the total number that are now [...]
Most women in finance don’t think they’ll ever get the top jobs, report shows June 9, 2015 Most women working in finance believe they won't make it to a senior position, according to a report by PwC. It claims there is a “perceived lack of career progression” among women, and this is preventing them from trying to rise the ranks. Read more: The world needs more women with top jobs in finance [...]
Alexis Tsipras faces backlash as bankers insist euro would not be harmed by Grexit June 8, 2015 World leaders piled pressure on Greece yesterday by calling for the indebted country to accept unpopular reforms, with Prime Minister Alexis Tsipras striking an increasingly isolated figure. From the picturesque alpine resort that played host to this week’s G7 meeting, US President Barack Obama and German Chancellor Angela Merkel insisted that Greece must accept tough [...]
Total cash spent at UK retailers is on the climb June 8, 2015 UK retail sales are ticking upward with evidence that confidence is rising, as consumers spend more on big-ticket items. Total spending at retailers grew by 1.8 per cent in the three months to May compared with the same period last year, according to figures published today by the British Retail Consortium (BRC) and financial services [...]
The City tells Deutsche Bank: Hard work on costs is not over yet June 8, 2015 Shares in Deutsche Bank climbed sharply yesterday after its co-chief executives agreed to stand down over the weekend, to be replaced with a turnaround veteran. But analysts and investors said that the hard work still lies ahead of the bank, which will have to prove to investors that it can cut costs and grow [...]