Banks Sector News

Latest News

  • UK plans tougher pay rules for top company executives Reuters - UK Focus - 47 minutes ago

    * Direct accountability for "going concern" statements LONDON, April 24 (Reuters) - Britain's stock-market listed companies should be able to claw back bonuses paid to poorly performing executive board members, a regulator proposed on Thursday, mirroring steps already being taken by banks. The Financial Reporting Council …

  • Barclays Attacked In Mystery 'Staff Letter' Sky News - 2 hours 17 minutes ago
    Barclays Attacked In Mystery 'Staff Letter'

    A letter claiming to represent scores of disgruntled Barclays (LSE: BARC.L - news) employees made potentially damaging claims on Wednesday about poor staff morale just hours before the bank's board gathered for its annual meeting. Addressed to Sir David Walker, Barclays' chairman, the letter made allegations of an unjustified …

  • A group of British public sector pension funds has heaped pressure on Barclays (Berlin: BCY.BE - news) ahead of its annual general meeting by saying it has governance concerns over the company's search for a new chairman. As a result, his role in leading the search for a new company chairman was inappropriate, the Local …

  • Thursday will be another big day in capital markets in London. In particular, traders will be braced for the latest first quarter earnings figures out from drugs giant AstraZeneca.

  • The Kurdistan-focused oil explorer run by ex-BP chief Tony Hayward has a busy year ahead, says Questor

  • Shares in the FTSE 100 plumbing and building materials supplier rose briskly amid hopes of special dividends

  • European stocks remained under some slight selling pressure at the midday mark despite what in general terms was a better than expected reading on the Eurozone's manufacturing and service sectors.

  • 1500: New US home sales fell in March by 14.5 per cent when compared with the previous month, to reach an annualised rate of 384,000, according to the Department of Commerce. The consensus estimate had ...

  • Skittish markets have hit HSBC Holdings Plc (LON:HSBA).

  • * Euro zone businesses enjoy best month in nearly three years * Deflation fears remain in euro zone NEW YORK/LONDON April 23 (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since 2011, while the pace of decline in Chinese …

  • What’s the difference between Scotland and Iceland? Three letters and eight years, according to a stark warning from Standard & Poor’s

  • Barclays could slash 7,500 investment banking jobs as part of an overhaul of its business following various scandals, a broker said on Wednesday.

  • Lloyds' costs, integration expert Fisher to leave Reuters - UK Focus - 10 hours ago

    Lloyds Banking Group's director of operations, Mark Fisher, is leaving the bank after five years overseeing its integration of HBOS, the separation of more than 600 branches and a major cost-cutting programme. Fisher will become a non-executive director of TSB, the bank with 631 branches that has been spun out from Lloyds …

  • Lloyds Banking Group PLC (LON:LLOY) is looking more attractive than at any time since the financial crisis.

  • Royal Bank of Scotland Group plc (LON: RBS) is may be pain, but long-term investors can still gain, says Harvey Jones

  • Wednesday broker round-up UPDATE Sharecast - 11 hours ago

    AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy.

  • * German stocks set to see earnings growth LONDON, April 23 (Reuters) - German shares may overtake their Italian and Spanish peers as Europe's star performers this quarter, boosted by better corporate earnings at a time when expensive valuations are making investors more selective. German companies are seen beating consensus …

  • * Orders for conveyor belts improving in Australia April 23 (Reuters) - Fenner Plc (LSE: FENR.L - news) , a maker of conveyor belts that has been hit by a slowdown in the global mining industry, said orders were picking up in Australia and in newer markets such as South America, helping to offset weakness in the U.S. coal …

  • Shares in holiday operator Thomas Cook (Xetra: A0MR3W - news) climb 4.6 percent, putting it among the top risers in Britain's midcap index, with traders citing an upgrade to the stock by Barclays (LSE: BARC.L - news) to "overweight" from "equal weight" as driving the move. "While the shares have risen 300 percent since …

  • Shares in Banca Monte dei Paschi (Milan: BMPS.MI - news) di Siena (BMPS) rise more than 4 percent after Goldman Sachs (NYSE: GS-PB - news) raises its rating on the Italian lender to 'neutral' from 'sell' following the bank's decision to increase the size of its previously announced rights issue. Goldman Sachs also removes …

  • Barclays Plc (LSE: BARC.L - news) needs to cut about 7,500 jobs in its investment bank, or almost 30 percent of its staff, to get its profitability back above its target as tougher regulations squeeze income, analysts at Bernstein say. Barclays is due to release details of a review of its investment bank on May 8, which …

  • The increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities. Barclays (LSE: BARC.L - news) on Tuesday followed similar moves by rivals Deutsche Bank (Xetra: DBK.DE - news) , …

  • Manufacturing activity in China contracted for the fourth month in a row in April, according to a private survey out Wednesday from HSBC and Markit.

  • The EUR/USD has seen little action for almost a week, as the cross has been trapped in a tight range of around 90 pips. The cross is trading close to the 1.3820 level on Wednesday morning, ahead of the ...

  • Curb Excessive Pay Or Face Action, Warns Cable

    The bosses of Britain's biggest companies have been warned by Vince Cable they must do more to curb excessive pay or face "further action". In a letter to the FTSE 100 Remuneration Committee chairs, the Business Secretary wrote that "excessive and disproportionate pay in the corporate sector damages popular trust in business". …

  • * Moves in other major currencies subdued (Updates prices, adds comments) SINGAPORE, April 23 (Reuters) - The Australian dollar slid on Wednesday after data showed that Australian consumer prices rose less than expected in the first quarter, lessening the risk of a rise in domestic interest rates this year. Other major …

  • 1100: The CBI's total industrial orders trend index fell to a reading of -1 in April, after a reading of 6 for the month before (consensus: 7).

  • Barclays Pay Plans Receive Mixed City Verdict Sky News - Wed, Apr 23, 2014 00:26 BST
    Barclays Pay Plans Receive Mixed City Verdict

    Barclays (LSE: BARC.L - news) will this week suffer a sizeable City rebellion over its decision to hike bonuses last year while simultaneously receiving overwhelming shareholder backing for its future pay plans. Sky News has learnt that more than 90% of investors who have cast their votes in advance of this week's annual …

  • British business secretary warns FTSE-100 firms on executive pay Reuters - UK Focus - Tue, Apr 22, 2014 22:18 BST

    British Business Secretary Vince Cable on Tuesday warned banks and other major companies to rein in excessive executive pay or face tighter rules, in a letter aimed at Barclays (LSE: BARC.L - news) and other FTSE 100 companies ahead of their annual general meetings. In a letter to companies listed on the blue-chip FTSE …

  • Business Secretary warns that unless more is done to keep pay down, he might have to take “further action”

  • Novartis and GSK trade assets as pharma industry reshapes Reuters - UK Focus - Tue, Apr 22, 2014 19:02 BST

    * Novartis (Xetra: NOT.DE - news) to buy GSK's oncology assets for up to $16 bln * Lilly to buy Novartis' animal health arm for $5.4 bln * Deals, plus talk of Pfizer (NYSE: PFE - news) -Astra deal, lift sector shares (Adds details on Lilly animal health unit, updates share movement) ZURICH/LONDON, April 22 (Reuters) …

  • British greeting cards retailer Card Factory plans a stock market flotation that could value it at 1 billion pounds ($1.7 billion), joining a spate of store chains seeking public listings as the outlook for consumer spending brightens. Card Factory, which analysts have estimated to have a total equity value of up to 1 …

  • HK regulator reprimands, fines RBS over emerging-markets rates trades Reuters - UK Focus - Tue, Apr 22, 2014 17:47 BST

    The SFC said in a statement RBS (LSE: RBS.L - news) failed to detect and prevent unauthorized trades in its emerging markets rates business in the city in 2011, following the discovery of unauthorized trades by former trader Shirlina Tsang. "We put in place a comprehensive remediation programme that strengthened our governance …

  • Barclays joins retreat from commodities as new rules bite Reuters - UK Focus - Tue, Apr 22, 2014 17:30 BST

    * Barclays (LSE: BARC.L - news) to quit most of commodities trading businesses * Bank to remain in precious metals, some other areas * Retreat means 3 of top 5 commodities banks have pulled back * Tougher regulations have eaten into profits (Adds industry context, details on Barclays investment bank review)

  • Sterling helped higher by M&A news, seeking new driver Reuters - UK Focus - Tue, Apr 22, 2014 15:28 BST

    Sterling hit its highest against the euro since late February on Tuesday, helped by the latest round of that corporate asset sales that have supported the pound this year. Britain runs a substantial current ...

Next >>