Doomsayers warn of approaching bear market

As share prices soar and plunge, some analysts claim that a coming crash will be the worst for 80 yearsAs share prices soared across the globe this week – before crashing down in Tokyo – one group of doomsayers consistently stuck to their message: the market boom is on shallow foundations and the crash will […]
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HSBC under fire from all sides at AGM

Bank sees 11% of shareholders vote down the pay report as it is attacked by environmental campaigners, shareholders, former staff – and Bill OddieAngry shareholders of HSBC on Friday bombarded the group’s board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products.At the banking firm’s […]
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HSBC suffers investor revolt over pay

Some 11% of shareholders rebel against pay scheme, which includes £2m bonus for chief executive Stuart GulliverHSBC suffered an embarrassing 11% shareholder rebellion against its executive pay report on Friday.Douglas Flint, chairman of the bank, said just 89% of investors voting ahead of its annual meeting supported its pay scheme, which handed chief executive Stuart […]
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Europe needs a more European UK, says ECB president

Mario Draghi stresses ‘depth of interconnection’ between UK and Europe, in speech to bankers in City of LondonMario Draghi, president of the European Central Bank, has called for the UK to be “more European” and said the continent’s key institutions could face dissolution if the UK leaves the European Union.In a speech to bankers in […]
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Q&A with a London derivatives trader | Joris Luyendijk

Joris spoke to this trader about the complex world of derivatives and the more relaxed culture in continental Europe. Join him from 7pm in the thread’The culture is so different. We try to build relationships with clients who invest money in real companies, for the long term’. This comes from a recent interviewee who specialised […]
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Nationwide profits leap 56% amid acquisition speculation

Building society warns of ‘challenges to short-term profitability’ but says its financial position is ‘strong and robust’Nationwide has revealed plans to raise up to £500m of extra capital, prompting speculation that it may go shopping for acquisitions. However, Britain’s biggest building society also admitted it had doubled its provisions relating to problem commercial property loans […]
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Scottish independence could threaten thousands of banking jobs

Finance and banking jobs in Scotland would be at risk if major firms opt to pursue larger markets in England, warns TreasuryThe Treasury has claimed that thousands of Scottish banking and finance jobs could shift to England after independence because major Scottish finance firms would want to chase much larger markets in England.The warning from […]
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Citizens Advice urges cold calling ban after Ofcom study

Regulator launches investigation after its figures reveal eight in 10 households regularly receive unsolicited nuisance callsClaims management companies and other financial services firms should be banned from cold calling consumers, said Citizens Advice, after telecoms regulator Ofcom revealed that eight in 10 households are regularly receiving nuisance phone calls.Data from a panel of 850 households […]
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Pope Francis attacks ‘cult of money’ in reform call

Pontiff says politicians need to be bold in tackling the root causes of the economic crisisPope Francis has hit out at unbridled capitalism and the “cult of money”, calling for ethical reform of the financial system to create a more humane society.In an impassioned appeal, the Argentinian pontiff said politicians needed to be bold in […]
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Money Talks: your financial data, homebuying tips, and a daft £1-on deal

Sign up to the Money Talks weekly email for all the latest news and offersThe personal financial information of millions of mortgage borrowers – including how much they earn and whether they have fallen behind on any payments – is to be collected by the UK’s main financial watchdog, it has emerged. Rupert Jones has […]
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