Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 695.60
Bid: 695.80
Ask: 696.00
Change: 0.00 (0.00%)
Spread: 0.20 (0.029%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 695.60
HSBA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

London's financial centre will grow if Britain stays in EU-study

Tue, 02nd Jun 2015 23:01

* City's output to increase by 16 bln pounds by 2025 -study

* 39,000 City jobs would be created in next 10 years -study

* EU membership incredibly important for City -lawmaker

* City growth would help generate 145,000 new jobs in London

By Matt Scuffham

LONDON, June 3 (Reuters) - London's financial district willgrow its economic output by more than a third and employ 10percent more people over the next decade if threats including apossible British exit from the European Union don't materialise,according to a study.

A report commissioned by the City of London Corporation,which promotes London as a financial centre, said the Citygenerated 45 billion pounds ($69 billion) in what it termedeconomic output in 2014, with that figure expected to grow by 16billion in the next 10 years.

That growth will help create 39,000 new jobs in the City -- as the financial district is known -- and where 397,000 workerswere employed last year. Ninety percent of the output gains and70 percent of employment growth would be within finance &insurance, media, IT & communications, and legal & accountingbusinesses, the study said.

Growth within the City will help contribute to the creationof 145,000 new jobs across London as a whole, it said.

"This report shows how vital the City's success is to growthin London and the UK," said Mark Boleat, Chairman of Policy &Resources at the City of London Corporation.

The study said the possibility of 'Brexit', a lack ofskilled employees, unaffordable housing, and limits on aviationcapacity could all pose a threat to achieving this level ofgrowth.

Prime Minister David Cameron has pledged to renegotiateBritain's ties with Europe and then give voters a referendum onEU membership by the end of 2017.

Conservative Mark Garnier, who served on parliament'sTreasury Select Committee, said on Tuesday that Britain'scontinued membership of the EU was "incredibly important" forthe country's financial services industry.

"The UK and the City of London is not a destination in itsown right, it's a gateway to the single market in Europe. It'simportant we maintain our position in Europe and become aninfluential member," he told an industry conference.

The "Brexit" risk is also causing major politicaluncertainty for the insurance industry, the chief executive ofthe Association of British Insurers said on Tuesday.

The forecast for job growth in the City of London comes wheninvestment banks across Europe are slashing thousands of jobs asthey restructure to meet tougher demands from regulators,pulling out from businesses which are no longer seen asproviding adequate returns. ($1 = 0.6527 pounds) (Additional reporting by Jamie McGeever and Huw Jones; Editingby Keith Weir)

More News
9 Apr 2024 07:05

HSBC to take $1bn hit from Argentina unit sale

(Sharecast News) - HSBC Holdings on Tuesday said it was selling its Argentina business to Grupo Financiero Galicia for $550m and take a $1bn pre-tax loss in the process as it continued to pivot its operations towards Asia.

Read more
8 Apr 2024 19:45

West Virginia treasurer adds four finance firms to ESG blacklist

NEW YORK, April 8 (Reuters) - West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state's treasurer deems they are boycotting the fossil fuel industry.

Read more
8 Apr 2024 07:00

HSBC targets wealthy expats, bullish Asian firms to drive Europe unit, exec says

Managers focused on growth after complex transformation

*

Read more
5 Apr 2024 07:29

Spain's Berge drops plans to list its Astara unit this year

MADRID, April 5 (Reuters) - Spanish privately owned logistics group Berge has dropped plans to list shares in its automotive unit Astara as market conditions are not the most appropriate for a flotation, the company said late Thursday.

Read more
3 Apr 2024 16:07

London close: Stocks reverse losses to finish slightly higher

(Sharecast News) - London markets saw modest gains by the close on Wednesday, following Wall Street higher in afternoon trading.

Read more
3 Apr 2024 13:19

Morgan Stanley commits to Canary Wharf home until at least 2038

LONDON, April 3 (Reuters) - Morgan Stanley's UK arm has extended a lease on its 547,000 square foot European headquarters in London's Canary Wharf to 2038, committing to the Docklands financial hub even as rivals relocate in search of smaller offices.

Read more
2 Apr 2024 17:28

London stocks dip in global risk off mood; commodity-linked stocks jump

FTSE 100 down 0.2%, FTSE 250 adds 0.9%

*

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:50

LONDON MARKET MIDDAY: FTSE 100 buoyed by UK manufacturing growth

(Alliance News) - The FTSE 100 in London was up at midday on Tuesday, reacting to the UK manufacturing sector returning growth and further PMI data across the globe.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:44

TOP NEWS: HSBC to pay special dividend after completing Canadian sale

(Alliance News) - HSBC Holdings PLC on Tuesday said it would pay shareholders a special dividend after completing the sale of its Canadian business.

Read more
2 Apr 2024 08:05

LONDON BRIEFING: HSBC in special payout on Canada sale; Astra FDA win

(Alliance News) - London's FTSE 100 traded higher on Tuesday following the long weekend, as investors react to US data, and look ahead to manufacturing sector readings from Europe later.

Read more
28 Mar 2024 09:55

UBS makes Ermotti Europe's best-paid bank boss with $16 mln package

Ermotti earned $15.9 mln in 2023

*

Read more
27 Mar 2024 14:42

Bank of England steps up scrutiny of private equity and bank valuations

LONDON, March 27 (Reuters) - The Bank of England said on Wednesday it was taking a deeper look at risks from the opaque private equity sector, and why valuations of Britain's main banks are "subdued" compared with international peers.

Read more
27 Mar 2024 09:40

LONDON BROKER RATINGS: Sainsbury's, Petershill Partners upped to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.