The HSBC Golf League, hosted and managed by the bank, will also connect with corporate tycoons, track their real-time game scores. The partnership will help build a captive community of golf connoisseurs who will get to connect and enable business networking along with the chance to exhibit their sporting forte.
HSBC Asset Management has led a seed funding round of $4 million in Singapore’s customer intelligence and risk assessment startup Bizbaz.
HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter.
HONG KONG — HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter. Executives at HSBC Indonesia have met with a group of fund managers in Singapore since last week to discuss details of the potential IPO, ahead […]
HSBC has long grappled with the optimal location for its business, with some stakeholders urging it to shift to Asia, where it makes most of its profits.
HSBC Holdings Plc is considering quitting its global headquarters in London’s Canary Wharf district when its lease expires in early 2027.
(Bloomberg) -- Petroleos Mexicanos is seeking financing from HSBC and Goldman Sachs Group Inc. in a deal that will tie funds to reducing greenhouse gas emissions.
HSBC has integrated embedded banking services into NetSuite Accounts Payable Automation, a cloud enterprise resource planning (ERP) platform.
To help organisations address time consuming and labour-intensive accounts payable (AP) processes, HSBC and Oracle NetSuite today unveiled the only solution that embeds banking services into a cloud enterprise resource planning (ERP) system, NetSuite AP Automation. NetSuite AP Automation helps organisations improve profitability by making it easier and faster to process invoices and pay vendors,
Futures Rebound From 2022 Low After Bank Of England Panics, Restarts Unlimited QE With everything biw breaking, including an explosive move in bond yields in the UK, 10Y yields rising above 4.00%, and Apple "suddenly" realizing there was not enough demand for the latest iteration of its iPhone 5, it was only a matter of time before some central bank somewhere capitulated and pivoted back to QE, and this morning that''s precisely what happened when the BOE delayed the launch of QT and restarted QE " on whatever scale is necessary" on a "temporary and targeted" ( lol ) basis to restore order, which sent UK bond surging (and yields tumbling the most on record going back to 1996 erasing an earlier jump to the the highest since 1998)… ... the pound first surged before falling back as traders realized the UK now has both rate hikes and QE at the same time, the dollar sliding then spiking, the 10Y US TSY yield dipping from 4.00%, the highest level since 1998, and stock futures spiking from fresh 2022 lows, but then fizzling as traders now demand a similar end to QT/restart of QE from the Fed or else they will similarly break the market.
The three banking giants, along with Lloyds, which today also paused some of its products, account for around half of the mortgage market in Britain.
HSBC and Santander, two of the UK’s largest mortgage providers, suspended new deals on Tuesday, while Nationwide increased rates, as homebuyers chased a dwindling supply of home loans. Together with Lloyds Banking Group, which suspended some products on Monday, the lenders account for about half of the UK mortgage market. A host of smaller providers […] HSBC, Santander and Nationwide suspend and reprice UK mortgages
DUBAI: Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche U.S. dollar-denominated green bonds, a document showed on Tuesday. Sources told Reuters earlier this month that PIF would issue the long-planned green bonds this month or in October. BNP Paribas, Citi, Deutsche Bank, Goldman Sachs and JPMorgan, mandated as joint global coordinators and active bookrunners, will organise investor calls starting on Tuesday. A debut issuance in tranches of five, 10 and potentially a longer-dated tenor will follow, subject to market conditions. The issuance will be under GACI First Investment Company and guaranteed by PIF. PIF has $608 billion in assets under management, according to an investor presentation seen by Reuters, not including the February transfer of a 4% stake in oil giant Aramco to the fund. “PIF is acting as the key vehicle to achieve KSA (the Kingdom of Saudi Arabia) green aspirations,” the presentation said, referring to an ambitious economic reform agenda to wean the economy off oil.
Hi. Aaron Weinman here. Performance reviews are back. Hiring has slowed. And Wall Street''s most influential chief executives from Goldman Sachs'' David Solomon to JPMorgan''s Jamie Dimon are ready to cull under-performing staff. It''s a shift from this time last year, when junior bankers scored significant pay bumps, dealmaking reached record-breaking highs, and investment bankers prepared themselves for some of the chunkiest bonuses they''d ever received. Per this story from Bloomberg, however, the layoffs should not be as severe as what Wall Street experienced after market crashes in 1987 and 2008. According to insiders, most of the cuts should be limited to underperformers in investment banking, who are really feeling the pinch of weak deal flow in equity capital markets and advisory services. As Insider has previously reported , mortgage-lending units are also exposed to job cuts. Before we get into that, however, it''s also time for our Banker of the Week ! If this was forwarded to you, sign up here .
Citigroup Inc. is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank’s global co-head of investment banking said.India presents “very clear” opportunities, said Manolo Falco, the global co-head of Banking, Capital markets and Advisory, in an interview in Mumbai. The New York-based lender expects initial public offerings in India to pick up next year as well as inbound deals in renewable energy and infrastructure, he said.The world’s second-most populous country is gaining traction among Wall Street dealmakers in part as growing political tension casts a pall over major plans to expand in China and as tensions mount in Europe and the US. India’s main stock gauge has gained this year, in contrast to mostly steep declines seen in major global markets. The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere.“India looks very steady and it has a government that seems to know exactly what they have to do,” Falco said. “The political situation in other parts of the world, and that includes Europe and probably the US and China, is a bit different I would say.”After two years of expansion in China, global banks are now facing stronger headwinds as economic growth slows and political tension with the US has dented dealmaking.
It builds on our Group commitments to phase out coal financing. Sustainability
SHOCKING footage shows the moment a woman smashed the windows of a HSBC branch in Glasgow.Cops were called to the bank on the city''s Buchanan Street
HSBC Asset Management will exclude thermal coal companies from its active funds by 2040, but that policy won’t apply to its existing exchange-traded and index products.
HSBC Holdings plc (NYSE:HSBC) has a beta value of 0.53 and has seen 0.96 million shares traded in the recent trading session. The company, currently valued at $121.73B, closed the recent trade at $29.75 per share which meant it lost -$0.64 on the day or -2.11% during that session. The HSBC stock price is -29.78% … HSBC Holdings plc (HSBC)’s Stock Price Falls Due To Weak Fundamental Momentum Read More »
City leader John Lee hails Cheng’s contribution to public and social services, while his predecessor says banker’s role symbolises ‘the great Hong Kong story’.
City leader John Lee hails Cheng’s contribution to public and social services, while his predecessor says banker’s role symbolises ‘the great Hong Kong story’.
By Kylie Madry MEXICO CITY (Reuters) – Mexican used-car platform Kavak on Tuesday said it had secured $675 million in financing from HSBC to back the company’s car loan offerings, adding to other recent credit lines agreed with Goldman Sachs and Santander totaling $135 million.
The “massive” correction to China’s commercial real estate market may have at least another two years to run, according to HSBC Holdings Plc Chief Executive Officer Noel Quinn.
FinTech firm Monese has secured a $35m investment from HSBC, bringing the total raised by the firm to $208m. The post FinTech Monese scores $35m investment from HSBC appeared first on FinTech Global .
Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter.
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs, HSBC Holdings Plc and SNB Capital to manage its initial public offering in Riyadh.
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs, HSBC Holdings Plc and SNB Capital to manage its initial public offering in Riyadh.
Crypto is not part of every banks’ strategy for the future. HSBC, one of the world’s biggest multinational banks, says they’re not too confident about crypto and thus, will not be offering any service related to it in the future. Noel Quinn, HSBC CEO, says: “I do worry about the sustainability of the valuations of […]
The post HSBC’s CEO Explains Why Crypto Is Not in the Banking Giant’s Future – Finance Bitcoin News appeared on BitcoinEthereumNews.com . Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the executive stressed: “I do…
Banking giant HSBC will not be offering crypto services, CEO Noel Quinn said, adding that HSBC is more negative on crypto than other banks.
Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the
TORONTO , Sept. 15, 2022 /CNW/ - Baylin Technologies Inc. (TSX: BYL ) (the " Company ") is pleased to announce that it has agreed with its principal lenders, Royal Bank of Canada and HSBC Bank Canada, to amend the Credit Agreement dated March 29, 2019 , as amended (the " Credit Agreement "), to extend the maturity date of the revolving and term credit facilities from September 30, 2022 , to September 29, 2023 . The amendments also include a quarterly minimum EBITDA covenant for the 12-month period ending on the relevant quarter and a revised minimum Liquidity covenant (each as defined in the Credit Agreement). The Company is also pleased to announce that its Vietnamese subsidiary, Galtronics Vietnam Dai Dong Company Limited (" GTD "), has agreed with its lender, HSBC Bank ( Vietnam ) Ltd., to various amendments to its credit facility agreement, including an extension of … Full story available on Benzinga.com
The executives from HSBC, Standard Chartered, Citigroup, UBS and others, are expected to endorse Hong Kong as an international financial centre.
Comprehensive protection for both employers and domestic helpers Extensive coverage and support services to help customers expect the unexpected HONG KONG , Sept. 15, 2022 /PRNewswire/ -- With an increasing market demand for domestic helpers in recent years, AXA Hong Kong ("AXA") and HSBC launch a new insurance plan, "HelperShield Insurance", to offer comprehensive protection to both employers and their domestic helpers. HelperShield Insurance covers not only foreign domestic helpers, but also local (part-time) domestic helpers and postnatal care helpers. Exceptional clinical expenses coverage up to HKD300 per visit per day for foreign domestic helpers [1] Extensive protection for employers, including foreign domestic helper replacement expenses coverage [1] Fraud and dishonesty protection that covers foreign domestic helpers, local (part-time) domestic helpers and postnatal care helpers 24-hour home assistance service hotline Kenneth Lai , Chief General Insurance Officer, AXA Hong Kong and Macau , said, " Domestic helpers have been playing an increasingly important role in many families in Hong Kong .
China markets rise after private survey shows Chinese factory activity grew; HSBC shares up 5% CNBC
SHANGHAI: China stocks on Wednesday tracked a slump in global markets, after hotter-than-expected US inflation data fuelled bets for more aggressive rate hikes by the Federal Reserve. ** The blue-chip CSI 300 Index lost 1.2% by the end of the morning session, while the Shanghai Composite Index was down 1%. ** The Hang Seng Index tumbled 2.6%, and the Hang Seng China Enterprises Index dropped 2.5%. ** Other Asian shares tumbled after Wall Street saw its steepest fall in two years, as US CPI data for August dashed hopes for a peak in inflation. ** US Labor Department data showed the headline Consumer Price Index gained 0.1% on a monthly basis versus expectations for a 0.1% decline. ** “The overnight plunge in the US market dented sentiment in China’s A-shares,” said Wang Mengying, a stock index futures analyst at Nanhua Futures, adding that investors will continue to focus on domestic COVID-19 outbreaks and anti-virus measures, and the implementation of pro-growth policies. ** New energy shares slumped 2.2%, automobiles went down 2%, while shares in healthcare and consumer discretionary lost 1.2% and 1.6%, respectively.
On-campus hiring at the National Institutes of Technology (NITs) that kicked off in August for the class of 2023 is off to a good start.A strong line-up of recruiters, higher average salaries and a greater number of offers so far in comparison to last year at the NITs in Hamirpur, Jalandhar, Calicut, Durgapur and Jamshedpur are early signs pointing to a strong placement season.Profiles that are most in demand on these campuses include software and allied information technology disciplines, according to officials at NIT placement cells.“It is expected that the current placement season shall be one of the best in terms of line-up of recruiters and offers,” said Anil Kumar Choudhary, professor in-charge of training and placement at NIT Jamshedpur. The highest offer at the institute so far is Rs 80 lakh by Atlassian, compared to the top offer of Rs 72.5 lakh from Goldman Sachs last year.First-time recruiters at NIT Jamshedpur include Uber, Texas Instruments, Directi, MathWorks, Jubilant FoodWorks, HSBC and Societe Generale, Choudhary said.At NIT Hamirpur, the average salary so far this year is Rs 12.84 lakh a year, a nearly 39% jump compared with this time last year.
"There Is No Good News Across This Report" - A Shocked Wall Street Reacts To Today''s Scorching CPI Print As we noted in our preview last night , so confident was Wall Street that today''s CPI print would be a miss - driven ostensibly by a plunge in energy prices - that the Y/Y whisper dropped as low as mid/sub 7%, with Goldman saying the " Headline number most likely shows some disinflation and wont impact mkt meaningfully after tape’s recent run higher, unless shockingly cool…call it sub 7%...then keep your rally caps on " and JPM piling on that " a 7-handle CPI YoY we would likely to see a strong rally tomorrow. " In retrospect, pretty much everyone was wrong, with headline CPI coming in at a "shocking", red hot 8.3%... ... a number which 47 of 50 economists missed, and which just BMO (and two other smallish banks, SMBC Nikko and Berliner Sparkasse) predicted correctly: BMO 8.3% HSBC 8.2% BofA 8.2% ING 8.2% JPMorgan 8.1% Soc Gen 8.1% Citi 8% Goldman 8% TD 8% BNP 8% Jefferies 8% Standard Chartered 8% Stifel 8% Nomura 8% Wells Fargo 7.9% Credit Suisse 7.9% Morgan Stanley 7.9% Where did the surprises come from?
UK’s FTSE 100 ticked lower in choppy trading on Tuesday as bank stocks fell, while data showed a drop in jobless rate and rising wages that could pile more pressure on the Bank of England looking to rein in surging inflation. Investors also awaited crucial inflation figures from the United States ahead of the Federal Reserve’s policy meeting next week. The blue-chip FTSE 100 index eased 0.1% at 7:15 GMT, with HSBC Holdings and Lloyds Group among the worst performers. Rate-sensitive banks fell 0.8%, snapping a three-day rally. Data on Tuesday showed Britain’s unemployment rate fell to its lowest since 1974 at 3.6% in the three months to July as more people left the labour market, while wages picked up pace adding to signs of price pressures in the labour market. Commodities push UK’s FTSE 100 lower on demand fears Limiting some losses, mining stocks added 0.6% on a weaker dollar. Aveva Group Plc gained 3.2% after Sky News reported that French industrial group Schneider Electric was nearing a deal to take full control of the British software company for about 3.5 billion pounds ($4.1 billion).
Previewing The "Pivotal" August CPI Report: Expect A Miss… A 7-Handle Likely Sees A Very Strong Rally Ahead of tomorrow''s CPI print, Wall Street is split between those who say tomorrow''s inflation data is fully priced in and won''t have an impact on either stocks or the Fed which won''t ease until the breadth of price increases comes closer to the Fed’s 2% goal, and those who - echoing recent comments from the Fed - believe that the CPI is all that matters for the Fed''s upcoming rate decision, even though odds of a 75bps rate hike in two weeks time are just over 90%. Among the former is Goldman trader Matt Fleury who quotes Bullard''s comments from last week, namely that a good CPI report shouldn''t affect the Sept Fed call, and notes that "he is exactly right... We are priced for 75bps already. CPI doesn''t matter. People who don''t have enough length will tell you it does, but it doesn''t. Its priced. The asymmetry is higher here" and is why this traditionally bearish Goldman trader predicted that " we might be starting the Q4 chase early ." But while there may be disagreement over how the market or Fed will react to the CPI, there appears to be agreement that the August inflation print will miss to the downside (by a little or a lot), if mostly at the headline level thanks to plunging commodity prices (core inflation may actually shit higher as Americans shift spending on items such as food and gas into "core" inflation).
By Lawrence White LONDON (Reuters) -HSBC is likely to resume share buybacks in the second half of next year, its Chief Financial Officer Ewen Stevenson said on Monday, as the bank looks to boost payouts to investors having curbed them at regulators’ behest during the COVID-19 pandemic.
Average US Credit Card Rate Hits Highest On Record While the Fed''s rate hiking cycle is about to push the overnight Fed Funds Rate to 2.50% in two weeks, banks have so far completely refused to translate these sharply higher wholesale rates into benefits for US savers. In fact, as the following breakdown of consumer deposit rates at the largest US bank, one would think that the US is still stuck at ZIRP. But while big money center banks refuse to even consider lifting the rate on their savings accounts, they have no such qualms when it comes to how much they charge on credit cards, and according to Bankrate.com''s latest survey, the average credit card rate is now 18.03%, the highest on record since January 1996. According to Ted Rossman, senior industry analyst at Bankrate, “the average credit card rate is now a record-high 18.03% , surpassing the previous record of 17.87% which was set in April 2019. And Federal Reserve Chairman Jerome Powell has made it clear that the Fed is not done raising rates – not by a long shot.
HSBC Holdings plc (NYSE:HSBC)’s traded shares stood at 0.58 million during the latest session, with the company’s beta value hitting 0.53. At the last check today, the stock’s price was $30.83, to imply an increase of 0.83% or $0.26 in intraday trading. The HSBC share’s 52-week high remains $38.61, putting it -25.24% down since that … After Plunging -0.84% During Past Week, Is HSBC Holdings plc (NYSE: HSBC) Still A Buy? Read More »
Foreign lender HSBC on Friday committed Rs 125 crore over the next five years to support green causes like wetland conservation and energy transition projects in India. The lender said in a statement that the measures are is being taken as part of its efforts to limit the impact of climate change. Under the commitment, it has divided the works into two broad themes, including energy transition and nature-based solutions. The nature-based solutions will include projects to protect and revitalise wetlands, mangroves and forests, landscape restoration and promote sustainable agriculture, it said. Energy transition will include renewables and/or energy efficiency programmes to support the shift towards renewables and scale efficiency initiatives in sectors like healthcare, dairy cold chain and for productive energy use by communities, it added. "Sustainability for us is about long-term survival going hand in hand with conservation and community upliftment," its country chief executive
Counterparty Radar: Morgan Stanley falls from pole position for first time since Q2 2021 amid wider volume decline
HSBC Holdings plc (NYSE:HSBC) price on Wednesday, September 07, fall -1.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $30.38. A look at the stock’s price movement, the close in the last trading session was $30.76, moving within a range at $29.85 and $30.435. The beta value … Thinking Of Selling HSBC Holdings plc (NYSE: HSBC) Shares? You Need To Know This Read More »
THE local office of the Hong Kong Shanghai Banking Corp. Ltd. (HSBC) announced last Wednesday that it has… The post HSBC preps for doubling of PHL multi-millionaires first appeared on BusinessMirror .
Lloyds Hit With $350 Million In Scam COVID Loans British banks have classified some $1.1 billion pounds (US$1.26bn) worth of emergency pandemic loans as fraud, according to data published Monday by the UK''s Department for Business, Energy and Industry (BEIS). Of that, Lloyds Banking Group has been hit the hardest - at roughly 300 million pounds (US$346 million) of the so-called "bounce back" loans intended for small businesses. The bank also saw a higher ratio of likely fraud, with some 3.6% of its 8.5 billion pounds of bounce back loans marked as suspicious , according to Reuters . Barclays, NetWest, and HSBC fared better, at 2.4%, 1.7% and 1.3% of loans classified as suspected fraud. "Where fraud has been identified, we have acted promptly and have already recovered the majority of these funds without calling on the guarantee and we will continue to attempt to do so even after a claim has been submitted," a Lloyds spokesman told Reuters , adding that at least it''s lower than the 7.5% average estimated by the scheme''s administrator, the British Business Bank.
It’s nice to dream of a better world, but harder to make it happen. That’s the challenge facing China’s Ping An Insurance , . HSBC’s , largest shareholder is pushing the global bank to spin off its Asian business. To make the separation worthwhile for investors, though, the carved-out unit would have to trade at an improbably high valuation.
Markets are jumpy, with US equities trading back and forth over the key supports at the former lows of the cycle in the major indices. The action settled near those important support levels and then futures traded softer overnight in an Asian session that saw the downward spiral in the Japanese yen accelerating despite stern words from Japan’s Ministry of Finance. It seems only a change of course from the Bank of Japan has the chance of slowing the yen’s slide. What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities continued to slide lower yesterday as the US 10-year yield advanced to close at 3.35% getting closer to the recent high of 3.5%. The culprit was the much stronger than expected ISM Services yesterday pushed the Fed Funds forward curve lower indicating higher policy rates for longer. S&P 500 futures fell 0.9% and is trading lower again this morning in early European trading hours sitting around the 3,897 level. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong stocks notably underperformed their mainland counterparts for the second straight session.
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