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Stock Market & Financial Investment News

News Breaks
May 7, 2014
06:01 EDTHSBCHSBC reports Q1 profit before tax $6.8B vs. $8.5B last year
Reports Q1 revenue $15.71B vs. $17.14B last year. The CRD IV transitional basis CET1 capital ratio was 10.7%, down from 10.8% at December 31, 2013, and the end point CET1 capital ratio was 10.8%, down from 10.9%. HSBC said, "In the first quarter we maintained control of costs and further demonstrated our capital resilience. Whilst revenue was lower than the previous year's first quarter, which benefited from a number of specific items, we have seen progress in revenue over the trailing quarters. Loan impairment charges fell, reflecting the changes to the portfolio since 2011. Our return on equity was 11.7%."
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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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