HSBC Holdings

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The Retail Banking and Wealth Management segment consists of retail banking, wealth management, asset management, and insurance. The Commercial Banking segment offers banking products and services. The Global Banking and Markets segment includes transaction banking, financing, advisory, capital markets, and risk management services. The Global Private Banking offers transaction banking, financing, advisory, capital markets and risk management services to high net worth individuals and families. The Corporate Centre segment is comprises of central treasury, including balance sheet management, other legacy businesses, interests in associates and joint ventures, central stewardship costs and the UK bank levy. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

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Founded in 1865 to finance trade between Asia and the West, today HSBC is one of the world’s largest banking and financial services organisations serving around 46 million customers. Their aim is to be acknowledged as the world’s leading and most respected international bank.

HSBC has carved out a lucrative role in global banking over the past 155 years by straddling the line between East and West. Now, a political firestorm over the bank's hometown of Hong Kong could force the bank to choose sides.

HSBC may find itself in a tough spot as China tightens its grip on Hong Kong

HSBC Holdings (HSBC) is planning to shed a sizeable number of jobs in France in line with its restructuring plans to control costs.

HSBC Intends to Cut 38% Jobs in French Global Banking Unit

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European shares edged lower on Wednesday, as surging coronavirus infections threatened a recovery in the global economy, with gains in defensive sectors helping limit losses.

European shares hit by rising virus cases, slide in HSBC, Nokia

European shares opened lower on Wednesday, with banks and energy firms leading the declines as surging coronavirus infections globally dimmed the prospect of a swift economic recovery.

European shares slip as virus cases surge; HSBC, Nokia slump

HSBC France seeks to cut 255 of 678 jobs in its French global banking and markets unit by end-2021 as part of a broader plan to reduce costs, a union said on its website.

HSBC to cut 38% of global banking and markets jobs in France

Investors who take a sustainable approach to allocating capital may be reevaluating putting their money into Hong Kong after the city implemented a national security law, an analyst said on Friday.

Hong Kong national security law may spook socially conscious investors, sparking outflows

HSBC Holdings (LON: HSBA) said on Friday that it has decided in favour of shutting down its industrial metals businesses. The announcement, as per HSBC, is part of its long-term restructuring that is expected to see 35,000 workers laid off in the upcoming years and save a total of £3.61 billion as COVID-19 further weighs on its financial outlook.

HSBC cites low returns as it discontinues its industrial metals business

HSBC Holdings Plc said on Friday it would make new investments in its wealth management and insurance operations in mainland China.

HSBC to invest further in China amid political strife over Hong Kong law

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HSBC investor Federated Hermes said it has questions about the bank's support for China's new security law for Hong Kong, the second investor in Europe's biggest bank in recent weeks to voice concerns about the lender's stance.

Federated Hermes questions HSBC's stance on Hong Kong law

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The effects of the coronavirus are still battering the economy, despite small signs of a turnaround.

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The bank is also slashing U.S. operations to focus on Asia.

HSBC to Cut 35,000 Jobs

As HSBC Holdings (HSBC) continues to face a challenging operating backdrop, it revives plans to cut 35,000 jobs.

HSBC Revives Job Cut Plan After Coronavirus Pandemic Pause

British financial giant HSBC Holdings PLC (NYSE: HSBC) will move forward with the 35,000 layoffs it delayed due to the COVID-19 pandemic.

HSBC Plans to Fire Equivalent of Small American City

HSBC (LON: HSBA) said on Wednesday that it has decided in favour of reviving its plan of laying off roughly 35,000 jobs; a plan that was put on hold in recent months due to the Coronavirus pandemic as the bank said it was unfair to cut jobs amidst the novel financial challenges.   Shares of the bank posted an around 1% intraday loss on Wednesday.

HSBC to resume its plan of cutting about 35,000 jobs as COVID-19 raises new financial challenges

UK-listed bank had paused the redundancies as coronavirus pandemic worsened

HSBC resumes plan to cut 35,000 jobs worldwide

HSBC Holdings PLC resumed plans to cut about 15% of its massive workforce after pausing layoffs because of the coronavirus pandemic.

HSBC resumes plan to cut 35,000 jobs

HSBC has resumed plans to cut 35,000 jobs and restructure its business, saying that the coronavirus pandemic has made the overhaul it announced earlier this year even more urgent.

HSBC resumes plan to slash 35,000 jobs

Employee union Unite said it will oppose any compulsory job losses within HSBC  and "work vigorously to ensure staff are heard and their jobs protected", after the bank dusted off plans to axe as many as 35,000 roles worldwide.

Employee union Unite says to oppose compulsory job losses at HSBC

Banking giant HSBC PLC HSBC, -0.65% [uk:hsba] is reviving a plan to cut 35,000 jobs.

HSBC sends memo to staff saying 35,000 jobs will go

HSBC  is resuming a massive redundancy plan it had put on ice following the outbreak of coronavirus, and will cut 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.

HSBC resumes cutting around 35,000 jobs: memo

Britain's Foreign Secretary Dominic Raab voiced a thinly veiled criticism of HSBC  on Monday after the bank backed China's national security law for Hong Kong, contradicting the British government's opposition to it.

HSBC gets veiled rebuke from UK government over Hong Kong

Secretary of State Mike Pompeo lashed out at British bank HSBC for backing the Chinese Communist Party’s efforts to crack down on Hong Kong’s autonomy. In a Tuesday statement, Pompeo slammed HSBC Asia-Pacific executive Peter Wong’s decision to sign a petition in support of Beijing’s law imposing security restrictions on Hong Kong.

Mike Pompeo rips HSBC for cozying up to China

HSBC is learning just how tough it is to please both China and the West.

HSBC is taking heat from all sides after backing China on Hong Kong

U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBC  for backing moves by China to end Hong Kong's autonomy, saying such "corporate kowtows" got little in return from Beijing.

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