Category: HSBC
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HSBC slashes costs by 8% in $1.5bn drive as it scales back net-zero pledges
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HSBC has revealed plans to reduce employment costs by 8 % in a batch to save $ 1.5 billion, as thousands of UK employees are expected to bear the loss of losses. The bank’s CEO, George Ilidri, announced that although there are a large number of HSBC employees at less…
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Property & Building in NY HSBC Tower lease talks with Amazon
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The Israeli income-generating real estate company Property and Building Corp. Ltd. (TASE:PTBL) The Tel Aviv Stock Exchange (TASE) announced that it is in talks to lease 330,000 square feet (30,600 square metres) at 10 Bryant Park in New York City, known as the HSBC Tower. According to US media reports,…
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China Stimulus Sets Tone for Major Banks, HSBC Is All About Overhaul
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Breadcrumb links BMN Business China’s recent stimulus measures to revive the economy will set the tone for third-quarter earnings from major Chinese lenders including Industrial and Commercial Bank of China Limited, China Construction Bank, Agricultural Bank of China Limited and Bank of China Limited. Article writer: Bloomberg News Rachel Yu,…
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Monese acquired by Pockit as HSBC writes off its investment
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FinTech Monese has been bailed out by Cardiff-based digital banking provider Pockit after HSBC became the latest investor to write off its investment in the struggling London company. The takeover comes after Monese failed to raise new funds and pre-tax losses of £30.5m in 2022, despite revenues rising to £27.7m.…
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HSBC lowers EUR-AUD trade target, stop-loss By Investing.com
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HSBC Global Research has revised its stance on the EUR-AUD pair, setting lower target and stop-loss levels for its sell trade idea. On the other hand, the company revised its target down to 1.5690 from its initial position that it opened on September 20 at 1.6400. Stop loss has also…
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HSBC UK launches £250m growth fund to empower women-led businesses
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HSBC UK has unveiled the HSBC Women’s Business Growth Initiative, a £250 million funding programme designed to support women-led businesses by addressing the critical barrier of access to finance. A new HSBC research study has revealed that nearly one in five (18%) women entrepreneurs see finance as a major obstacle…
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HSBC: What’s next for GBP after its resilience year-to-date?
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GBP/USD Daily HSBC analyses the factors behind sterling’s strong performance in 2024 and discusses potential challenges ahead. While the currency has been resilient due to rising interest rates, HSBC warns that the outlook may not remain favourable, especially with further rate cuts expected from the Bank of England. Key points:…
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3 sectors to consider amid selloff in European stocks: HSBC By Investing.com
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Amid the recent sell-off in European stocks, HSBC analysts have recommended focusing on three key sectors: healthcare, industrials and the UK market. The guidance comes as broader market conditions shift and defensive investments gain momentum. Healthcare: HSBC continues to favor the healthcare sector due to its defensive nature. In times…
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HSBC on tech stocks – “the froth has been removed from valuation”
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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HSBC Australia To Block Crypto Payments From 24 July 2024
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In a move that sent shockwaves through the cryptocurrency community, HSBC Australia, one of the country’s leading financial institutions, has announced that… Advertise A blanket ban on all payments to cryptocurrency exchanges. From July 24, 2024, the bank will automatically reject any transactions it believes are linked to digital assets,…
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HSBC Joins UK Banks in Cutting Mortgage Rates
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HSBC has announced cuts to its mortgage interest rates, joining Barclays and NatWest in a move that follows hints from the Bank of England about the possibility of a key interest rate cut over the summer. Barclays cut fixed-rate home loan costs for new deals on Tuesday, with HSBC’s cuts…
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HSBC Fined £6.2 Million for Mishandling Customers in Financial Difficulty
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HSBC has been fined £6.2 million by the UK Financial Conduct Authority (FCA) for failing to properly support customers in arrears or financial difficulties. The financial watchdog highlighted that deficiencies in HSBC’s policies, procedures and staff training led to “disproportionate action” against defaulters, exacerbating their financial problems. Between June 2017…
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Dollar selling “looks exaggerated” – HSBC By Investing.com
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Investing.com – The US dollar is on track for a big weekly decline amid renewed dovish hopes for the Federal Reserve, but this sell-off “appears overdone,” according to HSBC. At 05:25 EDT (09:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading…