Hsbc

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Hsbc - Total results - 298
India's first quarter GDP growth likely to be weakest since 2012; coronavirus, lockdown halted economic activity: Poll
Business

India's first quarter GDP growth likely to be weakest since 2012; coronavirus, lockdown halted economic activity: Poll

Forecasts for gross domestic product (GDP) data, due to be released on 29 May, ranged between +4.5 percent and -1.5 percent, underscoring the widespread uncertainty on the impact of the coronavirus on the economy at that stage.

HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis
Business

HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis

HSBC said last week it is pressing ahead with plans outlined in February to shift capital from underperforming businesses, reduce costs and strip out layers of management.

Banking declared as public utility service for six months till 21 October; employees will not be able to go on strikes
Business

Banking declared as public utility service for six months till 21 October; employees will not be able to go on strikes

All public sector banks, old generation private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Federal Bank are members of IBA

Saudi Aramco in talks with banks to borrow about $10 billion for acquisition of 70% stake in SABIC: Report
Business

Saudi Aramco in talks with banks to borrow about $10 billion for acquisition of 70% stake in SABIC: Report

Aramco agreed last year to buy the controlling stake in SABIC from the kingdom’s wealth fund for $69.1 billion, sealing one of the biggest-ever deals in the global chemical industry.

Coronavirus fallout: HSBC sends home more than 100 staff from London office after a worker tests positive
Business

Coronavirus fallout: HSBC sends home more than 100 staff from London office after a worker tests positive

HSBC Holdings PLC has sent home more than 100 staff in London after a worker tested positive for the coronavirus, the first known case at a major company in Europe’s main financial hub

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change
Business

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change

Improved performance in India and its basis in the take-up of digital retail banking services could also offer hope for other large markets with potential far greater than the profit so far delivered, such as China.

HSBC job cut plan: Interim CEO Noel Quinn says revamp will be different this time but staff, investors not convinced
Business

HSBC job cut plan: Interim CEO Noel Quinn says revamp will be different this time but staff, investors not convinced

HSBC, the London-headquartered bank, which makes 90 percent of its profit in Asia, is shrinking its investment bank, cutting 35,000 jobs and revamping its US and European businesses

HSBC to shed assets worth $100 billion, slash 35,000 jobs over three years; to combine retail banking and wealth management business unit
Business

HSBC to shed assets worth $100 billion, slash 35,000 jobs over three years; to combine retail banking and wealth management business unit

In the United States, where the bank has underperformed for years, HSBC said it needed to improve returns and would close around a third of its 224 branches and target only international and wealthier clients.

Nirav Modi, aides forged diamond sales to siphon off huge funds from PNB; HSBC, audit firm questioned fugitive's deals: Probe report
Business

Nirav Modi, aides forged diamond sales to siphon off huge funds from PNB; HSBC, audit firm questioned fugitive's deals: Probe report

In 2011, Modi's shadow company Unique allegedly transferred Rs 7.13 crore to his another company namely Synergies.

HSBC kicks off year with Hong Kong branches closed, vandalised; protesters suspect bank behind stopping money to them
Business

HSBC kicks off year with Hong Kong branches closed, vandalised; protesters suspect bank behind stopping money to them

Two HSBC branches and seven indoor ATM clusters were closed on Thursday, the first working day of the year.

HSBC plans to move from paper-based records to blockchain to track $20 bn worth of assets
News & Analysis

HSBC plans to move from paper-based records to blockchain to track $20 bn worth of assets

Proponents say the blockchain will upend the financial sector by cutting out costly processes or the need for middlemen

CSB Bank IPO subscribed 4.35 times on second day of bidding; share sale to close tomorrow
Business

CSB Bank IPO subscribed 4.35 times on second day of bidding; share sale to close tomorrow

The initial public offering of CSB Bank was subscribed 4.35 times on the second day of bidding on Monday

CSB Bank's IPO subscribed 1.97 times on second day of bidding; share sale to close tomorrow
Business

CSB Bank's IPO subscribed 1.97 times on second day of bidding; share sale to close tomorrow

CSB Bank aims to raise up to Rs 410 crore through the IPO and has fixed a price of Rs 193-195 per share for the initial public offer.

Stock, currency, debt markets closed for Guru Nanak Jayanti; Asian shares left guessing on trade, await Trump speech
Business

Stock, currency, debt markets closed for Guru Nanak Jayanti; Asian shares left guessing on trade, await Trump speech

Asian share markets flatlined on Tuesday as uncertainty over Sino-US trade talks and political strife in Hong Kong dogged sentiment, while safe-haven bonds eked out a bounce

Timeline: Saudi Aramco's winding road to world's largest IPO
Business

Timeline: Saudi Aramco's winding road to world's largest IPO

On 6 January Saudi Arabia's Deputy Crown Prince Mohammed bin Salman mentions his interest in selling off parts of Aramco to private investors in an interview

Aramco kickstarts world's biggest IPO on Sunday in a bid to diversify economy, offers scant details
Business

Aramco kickstarts world's biggest IPO on Sunday in a bid to diversify economy, offers scant details

The IPO preparations were revived this summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors.

India's Swiss bank black money probe reaches at the doorstep of Mumbai-based software firm
Business

India's Swiss bank black money probe reaches at the doorstep of Mumbai-based software firm

India's fight against suspected black money stashed in Swiss banks has reached a village lane in Andheri area of Mumbai, where an obscure-sounding company, Motech Software Pvt Ltd, was set up nearly two decades ago that allegedly went on to deposit millions of dollars in Switzerland through a maze of offshore entities

HSBC lays off 150 employees supporting global operations from back offices in India as part of move to realign operations
Business

HSBC lays off 150 employees supporting global operations from back offices in India as part of move to realign operations

The move comes weeks after Deutsche Bank also started laying off employees supporting global operations as part of the exit from the equities business

Hong Kong banks gird for online-only onslaught with high deposit rates, low fees, snazzy branches, fee waivers
Business

Hong Kong banks gird for online-only onslaught with high deposit rates, low fees, snazzy branches, fee waivers

The digital banks plan to begin by offering services such as savings accounts, credit cards, personal loans, foreign exchange and travel insurance.

Indians' money in Swiss banks falls by nearly 6%, hits second-lowest level in over two decades
Business

Indians' money in Swiss banks falls by nearly 6%, hits second-lowest level in over two decades

Aggregate funds of all foreign clients of Swiss banks also fell by over 4 percent to CHF 1.4 trillion (nearly Rs 99 lakh crore) in 2018