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Stock Market & Financial Investment News

News Breaks
February 24, 2014
06:10 EDTHSBCHSBC reports 2013 profit before tax $22.6B vs. $20.6B a year ago
Reports Common equity tier 1 ratio 10.9% vs. 9.5% last year. The bank said, "Although much progress has been made since 2011, we did not meet all of our targets by the end of 2013. Our reported cost efficiency ratio of 59.6% and return on equity of 9.2% in 2013 were both outside our target ranges, in part affected by continuing UK customer redress. In addition, there is further work required to grow our incremental wealth revenues to achieve our target of US$3bn in the medium term."
News For HSBC From The Last 14 Days
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July 18, 2014
11:21 EDTHSBCBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
July 10, 2014
07:08 EDTHSBCECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).

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