Bankers hit in the pocket after HSBC pays penalty over money laundering

Charterbridge

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Bankers hit in the pocket after HSBC pays penalty over money laundering

Lifeline for pensioners suffering income plunge
Hundreds of thousands of retired savers surviving on the income from stock market pensions are to be thrown a lifeline.
Daily Mail, p. 47

Bank’s big idea fails to fund lending for poorer borrowers
Fresh doubts have been raised about the Bank of England’s flagship lending scheme after data revealed that banks were lifting the rates on some mortgages while cutting returns offered to savers.
The Times, p. 44

London leads collapse in GB home owners
There were 14.85m home-owners across the two countries, according to the 2011 census, carried out by the Office for National Statistics.
City AM London, p. 9

Bankers hit in the pocket after HSBC pays penalty over money laundering
Stephen Gulliver, the chief executive of HSBC and a string of top bankers will lose a slice of their bonuses and will have future payouts deferred after Britain’s biggest bank was hit with a record fine to settle damaging money-laundering charges.
The Times, p. 43
Also appeared in : City AM London, p.6, Daily Express, p.50, Daily Mail, p.2, The Times, p.41, The Sun, p.42-43, The Guardian, p.25, The Times, p.42, The Independent, p.53, The Times, p.39, The Guardian, p.26, International Herald Tribune, p.20, Evening Standard London, p.40-41, Metro London, p.71, International Herald Tribune, p.1, International Herald Tribune, p.17, Independent i, p.41, Independent i, p.12, The Daily Telegraph Business, p.1, Daily Star, p.31, Financial Times Companies and Markets, p.19

Northern Rock lending blunder lands taxpayers with £270m bill
About 152,000 customers of Northern Rock are to receive a christmas bonus paid with public money as a compensation for a blunder in which they were not given the right information about their outstanding loans.
The Independent, p. 2
Also appeared in : Daily Express, p.50, The Sun, p.2, The Guardian, p.25, Evening Standard London, p.2, Metro London, p.18, Independent i, p.5

Three City traders arrested over suspected Libor-rigging
The Serious Fraud Office ramped up an investigation into one of the banking industry’s biggest scandals yesterday, arresting three City traders suspected of trying to rig lending rates. The arrests are the first since Britain’s fraud busting agency opened a criminal inquiry into whether Libor interest rates were manipulated by traders at big banks in the run-up to the financial crisis.
The Times, p. 43
Also appeared in : City AM London, p.1, Metro London, p.71, Evening Standard London, p.41, Financial Times Companies and Markets, p.21

UBS imposes fees on franc deposits
Yesterday UBS become the second big Swiss banking group to announce it will be imposing negative interest rates on institutional clients.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 34
Also appeared in : Independent i, p.41

First hint of what future holds for BoE after Carney’s speech
Mark Carney has signalled that he will act much more aggressively to revive the UK economy when he takes charge at the Bank of England.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

Lords call for a battle to retain London as EU’s financial centre
THE HOUSE of Lords’ EU Committee this morning called on the government to fight for the position of the City as Eurozone members consider a banking union.
City AM London, p. 13

Insurance firms fight bank-style rules on capital
LARGE insurance companies do not pose the same threat to global economy as big banks and should not be designated as systemically important financial institutions, according to a study published yesterday by the Geneva Association, an industry-funded think tank.
City AM London, p. 17

ADVISERS JEFFERIES
Investment bank Jefferies was appointed to advise Tullow Oil on the planned disposal of the UK and Dutch gas assets, which is designed to streamline the company’s portfolio. Jefferies, whose operations focus on the US, Europe and Asia, has worked on several high-profile oil and gas deals recently. In November, the investment bank acted as financial adviser to oil behemoth BP on the sale of a number of its central North Sea oil and gas fields to Abu Dhabi national energy firm TAQA.
City AM London, p. 12

HBOS needs to be singled out
Editorial comment on the Commission on Banking Standards’ inquiry into the collapse of HBOS.
The Times, p. 41

The above articles appeared on 12/12/12 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.