(Bloomberg) — HSBC Holdings Plc expects $1.8 billion in costs over the next two years as it embarks on a global restructuring program that has seen the lender shutter some of its businesses and slash management ranks. Reporting fourth-quarter pretax profit of $2.3 billion that beat estimates, Europe’s largest bank also said it expected to … Read more
US banks are scrambling to move billions of dollars worth of gold from London to New York, fueled by fears of a global trade war sparked by President Donald Trump’s tariff threats against Europe. This massive influx of gold has more than doubled America’s gold inventories since Election Day, with the US now holding around … Read more
(Corrects first name of HSBC CEO in paragraph 4, date of results in paragraph 7) Planned cuts and fears of more dent morale, sources say Annual savings estimates range between $1.5 bln and $3.8 bln US tariffs cast shadow over global trade prospects By Sinead Cruise, Lawrence White and Selena Li LONDON/HONG KONG, Feb 17 … Read more
2025-01-29 10:10:00 : January 29th (Reuters) -The following is the primary story in the Financial Times. Reuters did not verify these stories and did not guarantee its accuracy. -HSBC withdraw from Britain, the US and Europe’s investment banking parts -William Vereker, British director of Santande, resigned with Ana Botin and Ana Botin -Mico Microsoft stifled … Read more
2025-01-23 14:20:00 : Sources say management has lost enthusiasm for year-old app Zing CEO pledges to sharpen focus, cut costs Sources will notify affected employees on Thursday LONDON, Jan 23 (Reuters) – HSBC has decided to shut down its international payments app Zing, a person familiar with the matter said, potentially costing around 400 jobs … Read more
2024-10-22 11:08:00 : HSBC Chief Executive Georges Elhedery said the new leadership structure unveiled on Tuesday would “unlock our full potential and drive future success”. Elhedery, who succeeded former CEO Noel Quinn last month, said in a memo that a series of senior management changes would be made, including the appointment of Pam Kaul. Pam … Read more