News > Lifestyle

HSBC becomes HSBC UK in ‘radical’ rebranding
Lifestyle, 4:01
<p>After more than а month-long review on a potential name change, the UK’s largest lender has decided to keep ‘HSBC’ in its domestic banking division brand, Finbuzz reports. </p> <p>An internal staff email last week said of the change: “It soon became obvious that everyone preferred a name that maintains a strong connection to HSBC, and a clear commitment to the UK.”</p> <p>HSBC, also Europe’s largest bank, announced plans to rebrand earlier this summer. The announcement had the chatting classes speculating whether or not HSBC would revive its Midland Bank brand which it acquired in 1992.</p> <p>One legacy of Midland Bank that HSBC UK will adopt is location, as the 26,000 banking employees will be based in Birmingham, the former Midland Bank centre. The HSBC UK name comes into effect from 1 January 2018, and will be used at the bank’s 1000 UK branch locations.</p> <p>The name change comes ahead of the new banking rule that requires lenders to ‘ring-fence’, or separate, high-street and investment banking operations. “[Setting] up the UK ring-fenced bank in Birmingham is a key strategic action for the group,” Gulliver said.</p> <p>“Our ambition is to be the bank of choice in the UK and as a name, HSBC UK will build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market.”</p> <p>This article originally appeared on Finbuzz.<br /> Photo: Elliott Brown</p>
What traders do while waiting for the Fed to come out with its interest rate decision
Lifestyle, 4:01
<p>What did traders do before emojis?<br /> If Janet Yellen keeps rates low into 2016, we made this Bitmoji for you. Yellen be like. $SPY $TLT</p> <p>— StockTwits (@StockTwits) Sep. 16 at 11:51 AM</p>
Blackstone is 2016’s best bank to work for
Lifestyle, 4:01
<p>If you’re a banker, it’s pretty likely you spend a lot of time at the office, so it’s important to choose the right bank. This year, Blackstone, Goldman Sachs, and Morgan Stanley topped’s ratings, Finbuzz reports.</p> <p>The ranking and review website has published their annual ranking of the best banks.</p> <p>Blackstone, Goldman Sachs, and Morgan Stanley maintained their top three positions, and boutique banks like Evercore, Centerview Partners, Houlihan Lokey, and Greenhill &amp; Co. came in fourth, fifth, sixth. J.P. Morgan followed in eighth place, slipping from fourth in last year’s ranking.</p> <p>The only European-based bank to break into the top ten was Credit Suisse.</p> <p>The Vault banking 50 is compiled after interviewing banking professionals and using a weighted formula that is 40 percent based on prestige, 20 percent firm culture, 10 percent compensation, 10 percent business outlook, 10 percent overall satisfaction, 5 percent work/life balance, and 5 percent training.</p> <p>2016 Rank<br /> 2015 Rank<br /> Company</p> <p>1<br /> 1<br /> Blackstone</p> <p>2<br /> 2<br /> Goldman Sachs &amp; Co.</p> <p>3<br /> 3<br /> Morgan Stanley</p> <p>4<br /> 6<br /> Evercore</p> <p>5<br /> 5<br /> Centerview Partners</p> <p>6<br /> 7<br /> Houlihan Lokey</p> <p>7<br /> 8<br /> Greenhill &amp; Co., Inc.</p> <p>8<br /> 4<br /> J.P. Morgan</p> <p>9<br /> 9<br /> Perella Weinberg Partners</p> <p>10<br /> 10<br /> Credit Suisse</p> <p>11<br /> 22<br /> Bank of America Corp.</p> <p>12<br /> 11<br /> Peter J. Solomon Company</p> <p>13<br /> 13<br /> William Blair</p> <p>14<br /> 41<br /> Robert W. Baird &amp; Co. (Baird)</p> <p>15<br /> 19<br /> UBS</p> <p>16<br /> 12<br /> Moelis &amp; Company</p> <p>17<br /> 46<br /> Cowen Group, Inc.</p> <p>18<br /> 15<br /> RBC Capital Markets</p> <p>19<br /> 16<br /> Citi Institutional Clients Group</p> <p>20<br /> 14<br /> Lazard</p> <p>21<br /> 21<br /> Barclays (Investment Banking)</p> <p>22<br /> 20<br /> Deutsche Bank AG</p> <p>23<br /> 24<br /> Guggenheim Securities, LLC</p> <p>24<br /> 23<br /> Jefferies &amp; Company, Inc.</p> <p>25<br /> 25<br /> Rothschild</p> <p>26<br /> 26<br /> Wells Fargo &amp; Company</p> <p>27<br /> 27<br /> Allen &amp; Company LLC</p> <p>28<br /> 28<br /> Qatalyst Partners</p> <p>29<br /> 29<br /> Oppenheimer &amp; Co.</p> <p>30<br /> 31<br /> HSBC North America Holdings</p> <p>31<br /> 32<br /> Nomura Holdings, Inc.</p> <p>32<br /> 30<br /> Macquarie Group (U.S.)</p> <p>33<br /> 34<br /> BMO Capital Markets</p> <p>34<br /> 35<br /> Piper Jaffray Companies</p> <p>35<br /> 33<br /> BNP Paribas USA</p> <p>36<br /> 36</p>
Ultimate showboating frivolity
Lifestyle, 4:01
<p>A billionaire sailor no longer need feel anxious about having to wait for a limousine to pick him up when his superyacht docks at a smart Mediterranean resort. He can now take his own supercar with him.</p> <p>And the new Marine Edition Mono is rather special. </p> <p>Launched by yachting company Camper &amp; Nicholsons in collaboration with Briggs Automotive Company, the car can reach 170mph and can surge from 0-60mph in just 2.7 seconds - yet it weighs only 580kg so can easily be hoisted onto land, according to The Daily Telegraph.</p> <p>Owners can customize it by having its color match the yacht and the car’s seat molded to fit snugly. Protective coatings on the bodywork also protect against corrosion from salty air and water.</p> <p>The price-tag is £500,000 (plus delivery and VAT where applicable) or about $750,000.</p> <p>And for “superyacht owners who prefer to spend their time at sea its main purpose could simply be to serve as the ultimate showboating frivolity,” says The Daily Telegraph.<br /> Photo: mangopulp2008<br /> &nbsp;</p>
Hedgie loses discrimination suit
Lifestyle, 4:01
<p>Hedge funder Alphonse "Buddy" Fletcher has lost his four year discrimination battle against a New York City co-op.</p> <p>In 2011 Fletcher accused The Dakota, made infamous as the location of John Lennon's murder, of racial discrimination, reports the New York Post. Fletcher is a longtime Dakota resident, but wished to purchase a fifth apartment in the building. The co-op says it turned down Fletcher because of his deteriorating financial situation, but Fletcher, who is black, called foul. A Manhattan judge sided with the board, throwing out the case.</p> <p>It's been a rough year for Fletcher. The hedge funder's firm, Fletcher International, is bankrupt, after a court-appointed trustee accused it of being a Ponzi scheme.</p> <p>Fletcher's wife, Ellen Pao, has had her own legal battles. Pao lost a sex discrimination case against her former employer, venture capital firm Kleiner Perkins, earlier this year, and just recently announced that she wouldn't be appealing the decision due to lack of resources.<br /> Photo: Alejandro Lavin, Jr.<br /> &nbsp;</p>
Women and VC: The aftermath of Ellen Pao vs KPCB
&nbsp; Last week we saw Ellen Pao finally throw in the towel and drop her appeal after losing her sexism case against former employers Kleiner Perkins Caulfield and Byers, a Silicon Valley-based venture capital. In article published in Re/code, the former Reddit CEO draws a line under her three-year-long battle, detailing exactly what she was up against, and why she
Financiers prove again they can do anything you can do better
Lifestyle, 4:01
<p>Serena Williams failed America by losing the U.S. Open to an unranked Italian. But American Wall Streeters refused to be shamed by Europeans. Last weekend they hosted their own tennis tournament.</p> <p>The first annual Finance Cup pitted Team Wall Street against Team Europe in a different version of a Grand Slam event, reports Business Insider. London-based portfolio manager David Anving and New York-based investment banker Jeffrey Appel organized the event, which took place on Randall's Island.</p> <p>Financiers slammed balls, grunting like a Williams sister, running like Roger Federer, and sweating like the players at the U.S. Open nearby. Wall Street beat Europe after three rounds, winning 8-1. Pershing Square Capital's Bill Ackman secured an American victory in his epic battle against Cevian Capital's Christer Gardell.</p> <p>Competition was fierce. Credit Suisse's Mario Ancic was once ranked number 7 for men's singles globally, once beating Federer. Ludovic Walter, an associate at Cohen partners in London, was once the top player at Duke. Walter's doubles partner Alexander Hartman, formerly of Goldman Sachs, used to be number one at Ole Miss. Thomas Blake, of Jaffe Tilchin Investment Partners, was the top player at Harvard during his day.</p> <p>The finance world brought out a number of other American and global champs to compete for the honor and glory. Rumor has it a second tournament will be hosted in London next year. Start practicing now.<br /> Photo: PughPugh</p>
Biden flirts with Wall Street
Lifestyle, 4:01
<p>Vice President Joe Biden still hasn't committed to running for president in 2016, but he's certainly flirting with the option.</p> <p>Last week, Biden told Stephen Colbert that he's still dealing with the death of his son, and he didn't know if he could handle a run for the presidency. But, Biden seems to have sent out some feelers while in New York to film for Colbert's show, reports Business Insider.</p> <p>Biden met with Robert Wolf, a former UBS executive, after seeing Colbert. Wolf was a strong fundraiser for President Obama during his two elections, and is known for his political involvement. Wolf is currently a public supporter of former Secretary of State Hillary Clinton for the Democratic nomination. Wolf told reporters that he merely met with Biden to discuss the typical, boring policy questions.</p> <p>Biden may be hedging his bets until he knows how strong of a candidate he really is, but the veep is running into crunch time for a decision.<br /> Photo: Official U.S. Navy Page </p>
Forget moon shots, says Elon Musk, I’m nuking MARS!
Lifestyle, 4:01
<p>There are ambitious entrepreneurs and then there's Elon Musk.  Not content with revolutionizing the electric car, and commercial spaceflight, the founder of Tesla and Space-X now wants to nuke Mars -apparently.</p> <p>It may sound like a plan befitting a super villain or a Sith Lord but there is method in the madness. The idea came up in an interview on “The Late Show with Stephen Colbert” as Musk spoke about his plans to make Mars a more hospitable place for humans.</p> <p>“There’s the fast way and the slow way,” said the PayPal co-founder, calling Mars “a fixer upper of a planet.” The fast way would be to drop nuclear bombs on each of the planet’s poles to trigger a chain reaction that would terra-form the planet, making it fit for habitation.</p> <p>Pretty neat, right? Well, don’t get too excited. Musk has since qualified his earlier statements saying:</p> <p>Btw, not saying we *should* nuke Mars -- just layin' out a few options …<br /> — Elon Musk (@elonmusk) September 12, 2015</p> <p>So it seems the planet is safe. For now.</p>
Buying a castle and a piece of history
Lifestyle, 4:01
<p>We all know that our home is our castle, don’t we? Whether it is a two-bedroom apartment in an scruffy part of town, a suburban villa or a rural retreat we protect it with locks and maybe a dog - or in the US, perhaps with an armory.</p> <p>But there are now good opportunities in Britain to buy if not a whole castle, then a piece of one, according to The Daily Telegraph.</p> <p>Oversley Castle, which was once owned by Thomas Cromwell, Henry VIII’s chancellor and protagonist of Wolf Hall, has been split up into five apartments with the addition of a four-storey circular turret and nine barn conversions in 65 acres of Warwickshire countryside.</p> <p>Prices range from £300,000 up to £2 million, so it helps if you receive a banker-size bonus.</p> <p>There are plenty of other fortified strongholds up for sale too. Most were built during Britain’s bloody medieval period when barons fought for power and wealth like modern-day gangsters.</p> <p>It’s now much more genteel, of course.</p> <p>“We envisage the castle as providing lock-up-and-leave properties,” says Paul Harvey, who has developed Oversley Castle. “The kind of place where you chuck your keys to your neighbors while you go off to Spain for three months.”<br /> Photo: Karen Roe</p>