Search Results for: Pound
Spain’s Banco Sabadell in Talks to Buy Britain’s TSB Group
March 12th, 2015
Spain’s Banco de Sabadell SA is in talks to buy British consumer lender TSB Banking Group Plc for 1.7 billion pounds ($2.5 billion), to expand outside an economy battered during Europe’s financial crisis. Sabadell, Spain’s fifth-biggest bank, is proposing ...
China Economic Data Weaker Than Expected
March 11th, 2015
Growth in China’s investment, retail sales and factory output all missed forecasts in January and February and fell to multi-year lows, leaving investors with little doubt that the economy is still losing steam and in need of further support ...
Strongest Dollar in 12 Years Sinks Stocks While Oil Slips
March 11th, 2015
The strongest dollar in nearly 12 years versus the euro and the specter of higher U.S. interest rates fueled a selloff in global equities that sent the Standard & Poor’s 500 Index down the most since Jan. 5. Oil ...
HSBC accused of incompetence by MPs in tax scandal
March 10th, 2015
HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. Chris Meares, the ex-head of HSBC’s private banking division: “I absolutely take responsibility for the control failings ...
Annual result of the Swiss National Bank for 2014
March 6th, 2015
The Swiss National Bank (SNB) is reporting a profit of CHF 38.3 billion for the year 2014 (2013: loss of CHF 9.1 billion). The profit on foreign currency positions amounted to CHF 34.5 billion. A valuation gain of CHF ...
Indirect tax rates continue to soar across the globe as governments devise new levies
March 3rd, 2015
Value-added tax (VAT) rates surge to a high of 21.6% in EU Member States More countries levying VAT, particularly in emerging markets Governments introduce new taxes on health products and e-commerce As VAT rates continue to rise, governments are ...
HSBC bosses to answer MPs’ questions
February 25th, 2015
The chairman and chief executive of HSBC will appear before a panel of MPs today to answer questions about a tax scandal at the banking giant. Chairman Douglas Flint and chief executive Stuart Gulliver will appear before MPs on ...
HSBC files: bank chief Stuart Gulliver holds secret Swiss account
February 23rd, 2015
CEO drawn into tax scandal as calls grow to prosecute HSBC for ‘cheating’ the British tax system HSBC’s chief executive Stuart Gulliver sheltered millions of pounds in bonuses in a Swiss bank account, leaked documents have revealed. The 55-year old ...
Fed Tiptoes Into Rate-Hike Debate
February 19th, 2015
Minutes of latest policy meeting show central bankers discussing when and how to raise interest rates from near zero The Federal Reserve’s debate about raising short-term interest rates is heating up. At their Jan. 27-28 policy meeting, officials heard ...
Local investors regain largest share of HKEx’s securities market trading
February 17th, 2015
Local investors have regained the largest share of securities market trading at Hong Kong Exchanges and Clearing Limited (HKEx), according to the findings from HKEx’s Cash Market Transaction Survey 2013/14. The survey found local investors contributed 45 per cent ...
