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Wednesday, October 16, 2019


10,000 set to lose jobs in HSBC as bank cuts cost

Earlier cuts announced in August after CEO's abrupt resignation.

Canadian police illegally shared info on Huawei exec, say lawyers

Defence team claims 'covert criminal investigations on behalf of FBI' includes unlawful sharing of Meng Wanzhou's phone details.

Huawei CFO says her rights were violated

Meng lawyers argue, she had no idea on issuance of arrest warrant at airport.

HSBC to cut fees, offer rebates to boost struggling small HK...

HSBC launches a package of support measures for struggling small and medium enterprises, the first time it has done so since the 2008-09 global financial crisis.

HSBC weighs bid for Aviva’s Asian assets in diversity push

A deal would help HSBC bolster its insurance presence in Singapore and other parts of Southeast Asia.

HSBC to pay nearly €300 mil to end Belgian probe

The allegations relate to a Swiss subsidiary of the British banking giant.

HSBC’s CEO Flint steps down as it faces ‘challenging’ geopolitics

John Flint's resignation as CEO came as a surprise as HSBC's pre-tax profit rose 15.8% at US$12.4 billion for the first half of the year.

Bankers question whether Aramco IPO is worth their effort

The delays in the IPO has many banks involved in it questioning if they should move on.

China will understand, says Guan Eng on money seizure from HSBC...

The finance minister says it is similar to Malaysia's action against Goldman Sachs.

We’re entitled to do it, Dr M says on RM1 bil...

The prime minister says the government is entitled to take the money back as China Petroleum Pipeline (CPP) Engineering Ltd was paid 80% of the contract value whereas only 13% of work was done.

Guan Eng nafi arah pindahan wang lebih RM1 bilion daripada syarikat...

Dilaporkan HSBC diarahkan supaya memindahkan dana lebih RM1 bilion daripada akaun syarikat milik kerajaan China di Malaysia kepada sebuah syarikat milik penuh Kementerian Kewangan.

Not my orders, Guan Eng says on RM1 bil transfer from...

The finance minister says neither he nor his ministry issued any such instruction.

Hong Kong protests, Beijing’s tightening grip rattle business community

A series of large-scale protests which have rocked Hong Kong's legislature leaves their business community worrying over the impact on the city's financial hub status.

HSBC takes hits as Brexit Britain’s consumer casualty list grows

The closure of Jamie Oliver’s chain of restaurants means HSBC is sitting on about £30 million of potential losses.

Asia powers HSBC profit beat as trading arm languishes

Even though HSBC smashed their profit forecast, its trading business had a poor first quarter.

HSBC profit beats estimates as CEO reins in cost increases

Europe’s biggest lender has faced questions over its strategy since it failed to deliver on a pledge to deliver revenue gains in 2018.

HSBC’s fortress Hong Kong faces its biggest threat in years

HSBC, which owns about 60% of subsidiary Hang Seng Bank Ltd., has the biggest share across all major banking businesses in Hong Kong.

Singapore bans former HSBC, UOB bankers on fraud, dishonesty

Singapore goes all out to impose lengthly bans on convicted former HSBC and UOB bankers for fraud and dishonest conduct.

HSBC chases Asia’s wealthiest with new ultra-high net worth team

The London-based bank is building an ultra-high-net-worth team in Asia for clients with assets of about US$30 million or more.

HSBC probe helped lead to US charges against Huawei CFO

The US Department of Justice relied on HSBC's findings to bring its current criminal case against Huawei's chief financial officer, Meng Wanzhou.

HSBC joins Goldman Sachs in ‘radical’ middle-market lending push

Goldman Sachs will be boosting its revenue by US$5 billion by selling more services to midsize companies.

HK company apologises over ‘vacuum cleaner for her’ Valentine’s offer

The multi-page advertisement, described as an 'HSBC Staff Offer', is facing a huge amount of backlash over its sexist implications.

Source: HSBC cuts dozens of investment banking jobs

A source says those affected will be informed this week.

Turn to Southeast Asia for growth, HSBC tells international businesses

The region has come a long way since the 1997-1998 Asian Financial Crisis, says HSBC head of strategy and planning for Asia-Pacific.