Tag: speculation

HSBC to reduce headcount by 10,000

HSBC to reduce headcount by 10,000

According to a report today, banking giant HSBC is to axe more than 10,000 jobs as part of the bank’s strategic review. The report from Sky News said some of the cuts will come from its head office while others will be the result of closing some retail banking operations. However, a spokesperson for the [...]

July 28, 2011 | 0 Comments More
Lloyds Banking Group set to axe thousands more jobs

Lloyds Banking Group set to axe thousands more jobs

According to a report in the Sunday Times, banking giant Lloyds is set to axe a further 15,000 jobs, as part of a cost-cutting exercise. The job losses are expected to be revealed at the end of this month by chief executive, Antonio Horta-Osorio, who assumed the role earlier this year after being poached from [...]

June 13, 2011 | 0 Comments More
Portugal in bailout talks

Portugal in bailout talks

After months of speculation, it has been announced that Portugal will seek financial help. EU finance ministers are set to meet in Hungary this week when the bailout will be discussed. Portuguese borrowing costs rose to more than 10% this week – the first time since the introduction of the euro. A surge in borrowing [...]

April 7, 2011 | 0 Comments More
HSBC again denies talks of relocation

HSBC again denies talks of relocation

HSBC, which is Europe’s largest bank, has once again denied rumours that it is planning to relocate its UK headquarters to Hong Kong. A report in the Sunday Telegraph quoted an unnamed, investor as saying “we were told that a move [to Hong Kong] is now more than likely”. However, the bank has refuted the [...]

March 6, 2011 | 0 Comments More
Portugal’s borrowing costs rise

Portugal’s borrowing costs rise

Speculation is mounting again that Portugal may need financial assistance after a sharp rise in bond yields. In early trading, yields on Portuguese 10-year bonds climbed to almost 7.6%, their highest since the euro was introduced more than a decade ago. The country’s borrowing costs have risen in recent months – mimicking what happened in [...]

February 10, 2011 | 0 Comments More
BP shares up on takeover speculation

BP shares up on takeover speculation

Beleaguered oil giant BP saw it shares surge 6% today after speculation mounts that rival Royal Dutch Shell is considering a takeover bid. Shares in the firm closed at 492.90p on London’s FTSE 100 - which, incidentally, closed at just above the key 6,000 mark - its highest level since June 2008. Meanwhile, Shell has [...]

January 4, 2011 | 0 Comments More
OECD forecasts growth for Spain next year

OECD forecasts growth for Spain next year

Spain has featured heavily in the news recently after speculation mounts that the country will need to seek an emergency bailout from the EU. However, the country’s Government continues to deny the claims. Earlier this month, Spain’s finance minister, Elena Salgado, said: “Our fiscal adjustment is on track… we have done all the things that [...]

December 20, 2010 | 0 Comments More
Japan may step in to weaken currency

Japan may step in to weaken currency

Japan’s Prime Minister, Naoto Kan, has today said he is “very concerned about the currency situation” as the yen continues to strengthen against the US dollar. The Japanese yen is currently hovering around 15-year highs against the dollar. Last month, the Bank of Japan (BoJ) intervened to stem its currency against the dollar – the [...]

October 15, 2010 | 0 Comments More
Barclays shares hit by bond issue speculation

Barclays shares hit by bond issue speculation

Banking giant Barclays is understood to be exploring a number of options that would boost its capital reserves, in order to meet new Basel III regulations. The Basel III rules recently agreed banks need to look to capitalise around 7% and Barclays is rumoured to be issuing a special bond that would enable it boost [...]

October 15, 2010 | 0 Comments More
HSBC’s Geoghegan reported to be stepping down

HSBC’s Geoghegan reported to be stepping down

There is speculation that HSBC’s chief executive, Michael Geoghegan, will step down at the end of the year. The report comes shortly after 56-year-old Geoghegan was reported to have threatened to leave the bank if he was not promoted to chairman. However, HSBC, which is Europe’s largest bank, dismissed the claim as “offensive” and “nonsense”. [...]

September 24, 2010 | 0 Comments More
Citigroup rumoured to be putting Egg up for sale

Citigroup rumoured to be putting Egg up for sale

There is speculation that internet bank Egg is to be put up for sale by Wall Street banking giant, Citigroup. According to Sky News, the bank will be looking for around £500 million for its internet banking arm and will launch a formal process next month. Today, a spokesperson for Citigroup said: “We do not [...]

August 3, 2010 | 0 Comments More
Prudential has no plans for renewed AIA bid

Prudential has no plans for renewed AIA bid

British insurance giant Prudential has today said it has no plans for a renewed bid for AIA, the Asian arm of US company American International Group (AIG). The statement came after media reports today suggested that a fresh takeover deal was in the pipeline. Chad Tendler, Prudential’s Hong Kong-based spokesperson, told Reuters: “We remain highly [...]

June 6, 2010 | 1 Comment More
Nestlé emerges as next bidder for Cadbury

Nestlé emerges as next bidder for Cadbury

British confectioner Cadbury, renowned for Dairy Milk chocolate, saw its shares rise today on the back of speculation that Swiss food group, Nestlé, is to be the latest company set to make an offer. Shares in the confectioner gained more than 2% to a high of 817p - which is almost 13% above the original [...]

November 23, 2009 | 0 Comments More
Barclays shares hit by Qatar sale but Sainsbury’s shares surge

Barclays shares hit by Qatar sale but Sainsbury’s shares surge

Shares in Barclays lost nearly 5% today after reports suggested that Qatar’s sovereign wealth fund was looking to sell 379 million shares in the bank in order to raise funds to bid for supermarket giant Sainsbury’s. The news sent Barclays shares down by 18.25p to 363.75p while Sainsbury’s rose 11p to 341.5p. The shares in [...]

October 20, 2009 | 0 Comments More
Sainsbury’s shares boosted by takeover rumours

Sainsbury’s shares boosted by takeover rumours

October 15, 2009 | 0 Comments More
Lloyds reported to be considering £15bn cash call

Lloyds reported to be considering £15bn cash call

Shares in Lloyds Banking Group have fallen today on the speculation that the banking giant is looking to raise between £10 - £15 billion by selling new shares. According to reports, the Treasury is said to be in support of the possible plans to raise cash from the stock market, which will therefore reduce the [...]

August 10, 2009 | 0 Comments More
B&B shares rise on takeover speculation

B&B shares rise on takeover speculation

Shares in Bradford & Bingley (B&B) rose this morning amid speculation that the Financial Services Authority (FSA) has been holding talks with potential buyers. In early trading, shares in the UK’s biggest buy-to-let lender rose 15% to 32p. Shares in B&B have lost over 90% in value over the last year. Like other banks, B&B [...]

September 22, 2008 | 0 Comments More
Barclays admit trading conditions are tough

Barclays admit trading conditions are tough

Britain’s third-largest bank, Barclays, said financial markets were tough last month and, as a result, profits fell in the first quarter. The bank posted profit of £7 billion for last year, this represented a 1% fall compared with the previous year. Chief executive, John Varley, said results at Barclays Capital and Barclays Global Investors were [...]

April 24, 2008 | 0 Comments More