HSBC share price falls: Doubled profits miss expectations as Gulliver goes on his travels February 20, 2018 HSBC more than doubled full-year profits but missed analyst expectations in an early hours announcement today. Shares in the lending giant fell nearly five per cent in the first hour of UK trading. Profit before tax was $17.2bn compared with $7.1bn in 2016. Analysts had projected a bottom line of $19.7bn. “These good results demonstrate [...]
Royal Bank of Scotland teeters on edge of profit for first time in a decade as British big bank results season begins February 18, 2018 Investors will be on tenterhooks this week to see if Royal Bank of Scotland (RBS) has returned to profit for the first time after a decade in the cold, as Britain’s biggest banks report their full-year results. City analysts expect a net income loss of £984m, according to an average of estimates from S&P Global [...]
Barclays boss Jes Staley in line for a bonus of almost £1m despite whistleblower investigation February 15, 2018 Barclays chief executive Jes Staley will receive a reduced bonus of under £1m for 2017, despite the question marks still hanging over an investigation into his conduct towards a whistleblower. Staley is in line for around £900,000, less than half his maximum potential bonus of £1.9m, Sky News has reported. The initial decision of the [...]
Majority of big banks failing Mark Carney’s climate change requirements February 15, 2018 The world’s biggest banks are failing to take climate change seriously in their business plans, as demanded by regulators, according to research to be published today by a large investor group. Less than half of the 59 international banks surveyed by Boston Common Asset Management have carried out a scenario analysis for if global temperatures [...]
Barclays Techstars accelerator adds Anthony Browne , ex-head of banking industry body BBA, as entrepreneur in residence February 14, 2018 The former boss of the British Bankers’ Association; the industry body which last year became UK Finance, has resurfaced at the tech accelerator of one of Britain’s biggest banks. Anthony Browne is joining Barclays Techstars as entrepreneur in residence where he will help advise fintech startups. “Financial technology is one of the most exciting and [...]
Serious Fraud Office slaps Barclays with new charge over Qatar capital raising scandal February 12, 2018 The UK's fraud watchdog has today hefted a new charge onto BarclaysBank, in relation to an emergency fundraising it conducted in the summer of 2008. The Serious Fraud Office (SFO) today charged Barclays with giving "unlawful financial assistance", after it raised £4.5bn in June 2008 and £7.3bn that October from investors including Qatar Holding and [...]
Serious Fraud Office slaps Barclays with new charge over Qatar capital raising scandal February 12, 2018 The UK’s fraud watchdog has today hefted a new charge onto Barclays Bank, in relation to an emergency fundraising it conducted in the summer of 2008. The Serious Fraud Office (SFO) today charged Barclays with giving “unlawful financial assistance”, after it raised £4.5bn in June 2008 and £7.3bn that October from investors including Qatar Holding [...]
The Treasury has held secret meetings with the US Department of Justice to speed up a hefty RBS fine February 10, 2018 The UK Treasury has held a secret meeting with US officials to chivvy along a several-billion pound fine for Royal Bank of Scotland (RBS), Sky News has reported. The fine, which has been estimated by some analysts to be worth more than £5m, would draw a line under the bank’s pre-bailout misconduct relating to the [...]
European mega asset manager Amundi has lifted its 2020 profit expectations – but not as much as expected, causing shares to slide February 9, 2018 One of Europe’s largest asset managers, Paris-headquartered Amundi, has lifted its 2020 targets this morning, though not as much as analysts were hoping. The firm said in an update this morning that all targets announced at the time it floated in 2015 have been surpassed. It added that it would lift its expectations for the [...]
Strong results from Hargreaves Lansdown fail to beat a FTSE slump February 6, 2018 Investment platform Hargreaves Lansdown succumbed to the FTSE slump this morning, as its share price fell more than three per cent despite a strong set of first-half results. The figures Hargreaves’ net revenue climbed 17 per cent year-on-year to reach £216m, smashing through consensus predictions of £212.9m. Profit before tax meanwhile jumped 12 per cent [...]