HSBC Holdings plc (LON: HSBA) has announced a $2.5 billion share buy-back as it takes steps to soothe investors after a near 30% drop in first-half core profits. The shares rose 3.5% in London initially before falling down slightly afterwards. The bank also said that they are going to abandon their timetable for achieving a…
Read moreAIG, the united states-based insurer, will now launch an add-onto its company directors & amplifier officials liability which will add various costs connected with Brexit to the insurance. AIG may also cover the legal costs of the challenge to some repatriation order and, when the challenge is not successful, the insurer may also purchase repatriation…
Read moreThe European Central Bank (ECB) has decided to leave rates unchanged despite worries about how Brexit will affect the economy. The broad-based major European markets closed mixed on Thursday. The Japanese yen surged by over 1% right after the BBC showed a recorded video in which the BOJ’s governor Kuroda said there is no need…
Read moreUnited Kingdom Parliament Treasury Committee has published a letter from a group of challenger banks which outlines – among other things – the opportunity afforded by the EU referendum result to improve competition in the banking sector. Letter from challenger banks, dated June 30, 2016 Letter from Andrew Bailey, Governor, Prudential RegulationCEO, Prudential Regulation Authority,…
Read moreBritain’s Foreign Secretary Boris Johnson claims he would assure his EU counterparts that Britain would continue to cooperate with them once it leaves the bloc, as reported on last month’s referendum. Boris Johnson commented on arrival at the EU foreign ministers meeting in Brussels: The message I'll be taking to our friends in the council…
Read moreAnyoption analyst Brett Chatz takes a look at the new strategies which incoming British Prime Minister Theresa May might employ. For more of Brett’s research see the Anyoption blog. [divide] Principled Leadership or Populist Conformer?….. Theresa May is the new face of British leadership. A conservative through and through, but not an advocate of breaking…
Read moreThe GBPUSD is approaching the 1.31 handle after the pair saw a push higher following yesterday's political developments that Theresa May is set to become the Prime Minister of the UK following the shock resignation of her rival for the role, Andrea Leadsom. Leadsom quitting the race is a positive for Sterling simply because a…
Read moreBritish consumers saw their confidence in the UK's economy fall at the sharpest rate in almost 22 years after the vote to leave the European Union. According to latest market research from Gfk, consumer confidence in the UK fell by 8 points to minus 9, a plunge not seen since December 1994. The Gfk survey…
Read moreWhat happened to the shares and riskiest securities of European banks after Britain’s disturbing vote to leave the European Union – they plunged. So far the crisis is felt mostly in Italy. Why did this happen to Italy? Italian banks are saddled with about $400 billion of bad loans and lack the financial reserves to…
Read moreSterling sinks to new depths on Brexit anxiety, dropping to new 31 year lows around the 1.2800 level against the US dollar and even lower against the yen and the euro. The combination of some Brexit effects already starting to become definite and this week’s slowdown in recent economic data may seem a bit like…
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