Financial Services Sector News

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  • Two of Britain's biggest banks are considering moving abroad due to crackdowns on the sector

  • Economic data will hurt the Goverment's economic credentials, as weaker growth figures are released just nine days before the election

  • Brookfield Property is understood to have submitted a late bid for Center Parcs last week.

  • The start-up is the UK's favourite coffee capsule brand and the founders are now taking aim at the £3.2bn European market

  • Activist Fund Squares Up To RSA In Pay Row

    Sky News has learnt that Cevian Capital, which holds a stake of more than 10% in RSA, is leaning towards a decision to vote against the company's remuneration report ahead of its annual general meeting on May 8. If Cevian does oppose‎ the insurer's 2014 payouts, it would ignite an intriguing conflict between Lord Myners, …

  • Birds Eye is likely to be the first of a series of food companies that US investors swoop on

  • A retail and food revival is being planned for the trendy hotspot of the 1960s

  • Deutsche Bank (Xetra: 514000 - news) faces a long and costly battle, analysts say, to sell Postbank and pare investment banking, the new strategic goals it outlined late on Friday. Deutsche will face an especially difficult challenge in selling off Postbank without having to post losses. "We're worried about jobs at …

  • 'Flash crash' trader Navinder Singh Sarao's arrest has raised fresh questions about the market crash in 2010

  • Buy, hold or sell FTSE shares ahead of election? Professional investors explain their different approaches

  • Barclays must face U.S. fraud lawsuit tied to 'dark pool' probe Reuters - UK Focus - Sat, Apr 25, 2015 00:30 BST

    Barclays Plc (LSE: BARC.L - news) failed to persuade a U.S. judge to dismiss a lawsuit accusing the British bank of defrauding shareholders about a private "dark pool" trading platform even as it was publicly pledging to clean up its corporate culture. U.S. District Judge Shira Scheindlin in Manhattan on Friday allowed …

  • US STOCKS-Tech triumvirate propels Nasdaq, S&P to record highs Reuters - UK Focus - Fri, Apr 24, 2015 21:40 BST

    The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71 percent to end at ...

  • Worldpay Owners Pick Goldman For £6bn Float Sky News - Fri, Apr 24, 2015 21:07 BST
    Worldpay Owners Pick Goldman For £6bn Float

    The owners of Worldpay, the UK-based payment processing group, are close to appointing bankers to prepare a stock market flotation that could value it at a staggering £6bn. Sky News has learnt that Advent International and Bain Capital, the two buyout firms which have controlled Worldpay since 2010, are on the verge of …

  • HSBC Launches Immediate Review Of UK Base Sky News - Fri, Apr 24, 2015 20:59 BST
    HSBC Launches Immediate Review Of UK Base

    HSBC has launched a review of the location of its headquarters that could see it leave the UK, Europe's biggest bank‎ confirmed. In a statement issued after Sky News exclusively revealed details of its plans, Douglas Flint, HSBC's chairman, said executives had been asked by the lender's board to undertake a review of its …

  • UK judge paves way for judicial review of swaps redress Reuters - UK Focus - Fri, Apr 24, 2015 19:42 BST

    The High Court in London gave permission on Friday for a judicial review of a scheme set up by Britain's financial regulator to compensate small firms mis-sold interest rate hedging products, potentially leaving banks with a bigger compensation bill. Judge Kenneth Parker granted an application by law firm Mishcon de Reya, …

  • US STOCKS-Nasdaq hits 15-year high, propelled by tech triumvirate Reuters - UK Focus - Fri, Apr 24, 2015 19:33 BST

    The Nasdaq Composite hit a 15-year intraday high on Friday afternoon, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The S&P 500 also hit a record intraday high for a second ...

  • HSBC looks at moving HQ from Britain as tax and regulations bite Reuters - UK Focus - Fri, Apr 24, 2015 19:14 BST

    HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investment. The announcement from HSBC, founded in Asia but a key part of the British establishment, …

  • Week ahead: Political debates and central banks in focus Sharecast - Fri, Apr 24, 2015 19:07 BST

    With little doubt what will be of most interest for investors next week, given that the next general elections are now looming, will be the three-way election debate between Cameron, Clegg and Miliband ...

  • HSBC, JPMorgan, C Agricole to fight EU charges at June hearing - sources Reuters - UK Focus - Fri, Apr 24, 2015 18:59 BST

    HSBC Holdings (Xetra: HBC2.DE - news) , JPMorgan and Credit Agricole (Swiss: ACA.SW - news) will seek to fight European Union charges of rigging financial benchmarks at a closed door hearing in June, two people familiar with the matter said on Friday. The European Commission accused the three banks in May last year …

  • Holmcroft Properties wins permission to bring a judicial review against the redress scheme run by Barclays and reviewed by KPMG

  • London close: HSBC and miners lead gains Sharecast - Fri, Apr 24, 2015 18:33 BST

    UK stocks ended the session higher, tracking gains on the other side of the Atlantic despite the somewhat mixed newsflow coming out of Greece.

  • ** A move to HK would eliminate the need to pay more than three-quarters of that levy -- a potential boost to earnings of almost $1.4 bln, according to Bernstein. ** HSBC, Europe's largest lender, has ordered a review into whether it should move its HQ (Stockholm: HQ.ST - news) out of Britain.

  • Tesco names new brand director after record loss Reuters - UK Focus - Fri, Apr 24, 2015 17:48 BST

    Britain's biggest supermarket chain Tesco named Michelle McEttrick as its group brand director, bringing in the former chief marketing officer of the global retail bank at Barclays to help its turnaround. ...

  • Weak U.S. business spending data hints at sluggish growth rebound Reuters - UK Focus - Fri, Apr 24, 2015 17:25 BST

    U.S. business investment spending plans fell for a seventh straight month in March, weighed down by a strong dollar and lower energy prices, suggesting the economy was struggling to rebound from a recent soft patch. The report from the Commerce Department on Friday came on the heels of lukewarm data on retail sales, employment …

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  • The sector has underperformed the broader European stock market since late last year, despite the introduction of an unprecedented bond-buying scheme from the European Central Bank in January that had been expected to boost bank stocks as the scheme's positive impact trickled through to the wider economy. Banco Sabadell's …

  • Swiss expect deal with EU over clearing house Reuters - UK Focus - Fri, Apr 24, 2015 16:27 BST

    RIGA/LONDON, April 24 (Reuters) - The European Union is expected to give a green light for the Swiss securities clearing house to keep handling trades involving parties based in the EU, a senior Swiss markets official said. Clearing houses, vital parts of the electronic plumbing which helps markets run, stand between two …

  • Britain's High Court on Friday granted a request for permission to bring judicial proceedings relating to a scheme set up by Britain's financial regulator to compensate small firms mis-sold interest rate ...

  • HSBC Exit From UK HQ Adds Up For Investors Sky News - Fri, Apr 24, 2015 15:47 BST
    HSBC Exit From UK HQ Adds Up For Investors

    It is understandable that HSBC is being lobbied by its shareholders to look into relocating from the UK. This is a levy on the liabilities on a bank’s balance sheet but HSBC’s global banking rivals, such as JP Morgan, Citigroup (NYSE: C - news) and Deutsche Bank (Xetra: 514000 - news) , only pay it on their UK balance …

  • US durable goods orders rise more than forecast Sharecast - Fri, Apr 24, 2015 15:37 BST

    US durable goods orders rose more than expected in March, driven by demand for autos, commercial jets and military hardware.

  • HSBC Exit From UK HQ Adds Up For Shareholders Sky News - Fri, Apr 24, 2015 15:25 BST
    HSBC Exit From UK HQ Adds Up For Investors

    It is understandable that HSBC is being lobbied by its shareholders to look into relocating from the UK. This is a levy on the liabilities on a bank’s balance sheet but HSBC’s global banking rivals, such as JP Morgan, Citigroup (NYSE: C - news) and Deutsche Bank (Xetra: 514000 - news) , only pay it on their UK balance …

  • New Issue- Leeds prices 500 mln euro 2022 bond Reuters - UK Focus - Fri, Apr 24, 2015 14:54 BST

    Following are terms and conditions of a bond priced on Friday. Borrower Leeds Building Society Issue Amount 500 million euro Maturity Date May 5, 2022 Coupon 1.375 pct Reoffer price 99.386 Yield 1.468 ...

  • Form 8.3 - Royal Dutch Business Wire - Fri, Apr 24, 2015 14:47 BST

    LONDON--(BUSINESSWIRE)-- FORM 8.3                   PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover ...

  • Form 8.3 - GREENE KING PLC Business Wire - Fri, Apr 24, 2015 13:50 BST

    LONDON--(BUSINESSWIRE)-- FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) ...

  • Form 8.3 - SPIRIT PUB CO PLC Business Wire - Fri, Apr 24, 2015 13:50 BST

    LONDON--(BUSINESSWIRE)-- FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) ...

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