HSBC's first-half net income more than doubles, and the bank announces a $2 billion share buyback.

In the six months ended in June, HSBC's net income more than doubled from $9 billion to $18.1 billion, a significant increase compared to the same period a year prior.

The bank's profit before taxes increased by 147% year-over-year, from $8.78 billion in the first half of 2022 t...

MENG’S DEFENSE TEAM TO ASK CANADIAN COURT TO DELAY UPCOMING HEARINGS

Highlights –

• Meng’s defense team to ask Canadian court to delay upcoming hearings.
• The Huawei CFO’s case lasted more than two years.
• Meng’s upcoming hearing is scheduled to be in the British Columbia Supreme Court on...

FTSE RUSSELL APPROVED CHINESE SOVEREIGN BONDS TO BE INCLUDED IN THE INDEX

Highlights –

• FTSE Russell approved Chinese sovereign bonds to be included in the index.
• Chinese government bonds (CGBs) will be added to the FTSE World Government Bond Index (WGBI).
• It will be done so in a period of over 36 months rat...

HSBC ALL SET TO WITHDRAW FROM US RETAIL BANKING

Highlights

• This withdrawal will form part of the lender’s strategy update which is due on Tuesday, while CEO Noel Quinn is looking to cut down costs, boost fee income and continue the lender’s shift towards Asia

• According to the bank, Michael Roberts ...

CARRIE LAM EXPECTS NEW US GOVERNMENT WILL HEAR HONG KONG FAIRLY 

HIGHLIGHTS

• Hong Kong Chief Executive Carrie Lam has advised US media she is hopeful that the Biden organization will give her administration a reasonable hearing concerning the public security law

 She additionally lauded the part in Hong ...

HSBC BANK CHIEF DEFENDS HIS STANCE OF SUPPORTING NATIONAL SECURITY LAW IMPOSED BY CHINA 

HIGHLIGHTS

• HSBC chief demanded Tuesday he was legitimately obliged to close the records of an unmistakable Hong Kong majority rule government campaigner, as he confronted a threatening flame broiling from UK administrators

CEO Noel Quinn was bl...

U.S. HOLD DISCUSSIONS WITH HUAWEI CFO MENG TO DROP CRIMINAL CHARGES AGAINST HER: REPORT

Highlights

• According to the sources, U.S. prosecutors are holding talks with lawyers to come up with a deal for Huawei finance chief Meng Wanzhou to drop criminal charges against her

• Huawei CFO is facing bank fraud charges for allegedly misleading Huawei Technolo...

HSBC LIKELY TO EXIT FROM U.S. RETAIL BANKING

Highlights

• According to the sources, HSBC Holdings Plc is considering a complete exit from retail banking in the United States

• Sources claim that the senior management at HSBC is planning to present the plan in front of the board in upcoming weeks

&bull...

HSBC BANK U.S.A WORKING WITH Biz2Credit FOR SWIFT APPROVAL OF LOANS FOR SMALLER BUSINESSES

Highlights

• The bank which is part of HSBC Group said it is using Biz2Credit's Biz2X Platform to fasten the approval of credit applications for small businesses across the nation

• HSBC Bank will start rolling out of this new enhancement to HSBC Fusion in the mo...

PETER WONG SIGNS PETITION IN SUPPORT OF BEIJING LAW

HIGHLIGHTS

• HONG KONG- CHINA tussle takes another turn

• Banks to side China, says they strongly believe that the law will safeguard HK interests

Since days, the pressure was on private entities of Hong Kong to...

How Erdogan’s Attempts to Stabilize Lira Have Backfired?

What was once the most lucrative foreign investment market in the Middle East, Turkey, has now started to feel the dramatic effects of depreciation of its currency, Lira and the rapid disinvestment by foreign investors in the past two years.

The Turkish currency Lira, has depreciated al...

FASHION TECH: UNRAVELLING THE DETAILS BEHIND SERAI

Highlights:

• The business to business solution created by HSBC
• Users need to be added by other users or receive invitation from Serai

This business to business platform was designed by HSBC. It is an invitation only platform for estab...

WPP (LON:WPP) PT Elevated to GBX 1,100

In the research report sent to investors on Wednesday, November 27th, WPP (LON: WPP) had its price target increased from GBX 1,000 ($13.15) to GBX 1,100 ($14,47). Today, BMO Capital Markets has a stock ranking.

Recent reports on the stock have also been published by other equities resea...

HSBC is paying $200 million to help rich Americans in hiding their assets

HSBC's Swiss branch turned into the fourth bank as of late to settle with the US Justice Department over charges it hid huge measures of American customers' cash in Switzerland, concurring this week to pay $192 million to end 10 years in length adventure. The settlement marks something of...

HSBC has to pay US$192 million

HSBC's Swiss private bank consented to take care of US$192.4 million in punishments and relinquishment to end a long-running request in which it confessed to plotting with US citizens to assist them with abstaining from paying assessments on as much as US$1.26 billion in undeclared resources,...

Real-Time Payments Made Available in HSBC Bank USA

Bank of the United States of America, N.A. (HSBC) today announced the launch of the RTP ® network's real-time payment capabilities that allow business and corporate clients of all sizes to pay and also be paid with improved security and convenience immediately.

The Clearing Hous...

The first dollar bond was planned to be issued by Abu Dhabi

Abu Dhabi plans to issue US dollar-named securities this year, three sources acquainted with the issue stated, its first since 2017, as the oil-rich emirate looks to exploit low rates to offset the effect of falling oil costs. The legislature has refreshed its bond program documentation and plans...

The biggest economies of Europe are Possibly in Recession

Europe could be about to hit a crisis, as 3 of its largest economies have been tanking at the same time. Furthermore, it seems like the European Central Bank is out of bullets for firing up the economy. Germany is the biggest economy of Europe. It is pretty much dependent on its foreign exports t...