HSBC ‘encouraged’ by Burnham agenda despite tax threat and growth downgrade Banking HSBC’s finance boss said the bank is “very encouraged” by Andy Burnham’s agenda, despite slashing its UK growth forecast ahead of a potential tax raid. Pam Kaur, HSBC’s chief financial officer, said: “The UK is our home market, our focus in the UK is supporting customers with their growth ambitions.” But when asked about a [...]
HSBC shares sink after revenue misses expectations Banking Shares in HSBC plunged this morning with billions wiped from its market value after the bank missed revenue expectations in the third-quarter. The FTSE 100 bank’s stock slid seven per cent in early trading to 1,269.0p in a move that shed around £16bn from the firm’s market capitalisation. It also put it on track to [...]
Lloyds and Barclays shares fall as Healey ‘poised’ to hike bank tax Banking Shares in Britain’s banking giants tumbled this morning after new reports suggested John Healey is set to raise taxes on lenders when he delivers his first Budget at the end of the month. Natwest dropped two per cent to 660.40p, while Lloyds was down around 2.5 per cent to 103.40p. Barclays slid 0.4 per cent [...]
HSBC set to axe UK wealth jobs as AI takes hold October 7, 2026 HSBC is putting a raft of roles in its UK wealth division on the chopping block following a push to slash costs with artificial intelligence. Europe’s biggest lender is consulting on changes to its wealth management operations that would lead to a shake-up for hundreds of relationship managers and financial advisers across the UK. The [...]
HSBC shares dip as finance chief announces exit September 10, 2026 HSBC is on the hunt for a new chief financial officer after the bank revealed its finance head Pam Kaur would retire after two years in the job. Kaur, who has been with the company for 13 years, is set to leave her role at some point in 2027 and will not stand for re-election, [...]
Lloyds and Natwest flaunt social credentials as fears grow of Burnham tax grab August 26, 2026 Lloyds and Natwest are flaunting their community credentials and pledging a raft of new social investment initiatives as fears grow that Prime Minister Andy Burnham will launch a punishing tax raid on the sector with the government’s first Budget. The two lenders are among a group of top UK banks looking to prove they can [...]
Big bank bosses on alert as tax noise gets louder under Burnham August 5, 2026 Banks have delivered booming profits for the first half of the year. In this week’s column Samuel Norman takes a look at how the calls for a tax rise on the sector will get louder under the new Prime Minister. “The saxophones are getting louder” is the internet’s new saying to depict growing anxiety. If you [...]
HSBC kicks off $1bn share buyback after profit smashes forecast August 4, 2026 HSBC has resumed its share buyback programme after profit soared past expectations in the second quarter of 2026. The FTSE 100 bank – whose market cap of £274bn makes it the London Stock Exchange’s most valuable company – posted $10.1bn (£7.5bn) in pre-tax profit for the last three months, surging past an internal forecast of [...]
HSBC sells Singapore insurance arm to Allianz in £1.6bn deal July 24, 2026 FTSE 100 HSBC has agreed to sell its health and life insurance business to German insurance giant Allianz for $2.1bn (£1.6bn) as it refocuses its strategy on Singapore’s wealth management. The banking giant agreed to sell its Singapore business to Allianz in a transaction that is expected to be completed in the first half of [...]
Rachel Reeves to unveil next steps for ring-fencing reform at Mansion House July 13, 2026 Rachel Reeves will outline the next steps of her ring-fencing reforms at Mansion House on Tuesday, City AM can reveal, in what is expected to be one of her last acts in the Treasury. The Chancellor will launch a consultation to seek industry input on the implementation of a package of reforms announced in May, including the [...]