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.

Earnings data Q1 2021

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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.

British American Tobacco

The UK blue-chip FTSE 100 index remained under pressure on Tuesday as British American Tobacco (LON: BATS) lowered its full-year forecasts for profit and revenue. BAT posted a 3.1% intraday decline as it revealed a significant hit to its sales in recent months due to the Coronavirus lockdowns in its key markets like Mexico, South Africa, Vietnam, and Bangladesh.

FTSE 100 remains under pressure as BAT and HSBC slide on Tuesday

HSBC  said on Tuesday that it had lowered its year-end forecast on 10-year British government bond yields to 0%, given a small probability of negative interest rates and a sense that rates will stay low for a long period.

HSBC cuts year-end 10-year UK gilt yield forecast to 0%

HSBC Holdings Plc  Chairman Mark Tucker has warned Britain against a ban on networking equipment made by Huawei Technologies Co Ltd, claiming the bank could face reprisals in China, the Telegraph reported on Saturday.

HSBC warns it could face reprisals in China if UK bans Huawei equipment: the Telegraph

HSBC Holdings plc (NYSE: HSBC) has publicly backed China's controversial national security law for semi-autonomous city Hong Kong, Reuters reported Wednesday.

HSBC Backs China's New National Security Law For Hong Kong As It Seeks Stability In Key Market

Two of Hong Kong's biggest retail banks are backing a controversial national security law that would drastically broaden China's power over the financial hub.

Two of Hong Kong's biggest banks publicly support national security law

Hong Kong shares of HSBC and Standard Chartered rose on Thursday after the banks backed China's national security law for the city, allaying worries about their businesses getting hurt by any potential political crossfire in their largest market.

HSBC, StanChart shares rise as support for China law eases Hong Kong impact worries

HSBC Holdings (HSBC) poised to take control of German unit by buying the remaining stake.

HSBC Intends to Acquire Remaining Stake of German Division

To cope with the economic fallout of the pandemic, the board of HSBC wants executives to deepen restructuring efforts, which may include further job cuts.

HSBC Board Pressures Executives to Deepen Restructuring

HSBC Holdings PLC  expects to achieve double-digit asset growth in its newly combined wealth business in Asia Pacific in the next three years, as it looks to grab a bigger share of the growing rich population, the unit's regional head told Reuters.

HSBC sees double-digit wealth asset growth in Asia by 2023

Banking giants like Citigroup (C), HSBC and others try to speed up the pace of their digital offerings amid the current crisis to ward-off competition from digital startups in Asia.

HSBC & Others Accelerate Digital Push Amid Coronavirus Scare

Europe's biggest bank, HSBC  has cut already bleak global growth forecasts even further, as lockdown restrictions extended through April and tentative economic re-openings drag on a return to business, trade and spending.

Coronavirus forces HSBC to cut global growth forecasts, again

HSBC enters a deal to acquire the remaining 50% equity interest in its life insurance joint venture in China.

HSBC Agrees to Buy Remaining Stake in China Life Insurance JV

HSBC Holdings PLC  said on Monday its insurance unit had agreed to acquire its China life insurance venture partner's 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.

HSBC to buy out life insurance joint venture partner in China

The U.K.-based bank increased its provisions for losses in the first quarter in anticipation of rising loan defaults.

HSBC's Net Profits Fall by 57%

HSBC Holdings PLC (HSBC) CEO Noel Quinn on Q1 2020 Results - Earnings Call Transcript

HSBC witnesses a decline in expenses and revenues in the first quarter of 2020.

HSBC Q1 Pre-Tax Profit Declines Y/Y on Coronavirus Woes

HSBC is ramping up the amount of money it is setting aside to cover bad loans as its profits plummet because of the coronavirus pandemic. It is also suspending plans to lay off tens of thousands of staff.

HSBC hits pause on mass layoffs after profits plunge by nearly 50%

HSBC (LON: HSBA) released its Q1 earnings on Tuesday that fell short of analysts’ estimates. The bank said that the crash in oil prices and the Coronavirus pandemic is expected to fuel loan losses in 2020.

HSBC’s pre-tax profit tanks 48% in the first quarter as COVID-19 weighs on performance

Europe’s biggest bank by assets has joined other major lenders bracing themselves for a wave of bad loans because of the coronavirus pandemic.

HSBC Profits Plunge As Europe’s Biggest Bank Faces Coronavirus Hit

HSBC Holdings PLC  on Tuesday warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.

HSBC sees mounting credit losses after pandemic halves first-quarter profit

HSBC released its first financial report card since the coronavirus outbreak.

HSBC's pre-tax profit falls 48% year-over-year in the first quarter to $3.2 billion

HSBC will press ahead with plans to reallocate capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic.

HSBC to push on with overhaul 'wherever possible' despite crisis

HSBC  has reshuffled the leadership of its investment banking division, according to a memo seen by Reuters on Monday, as Chief Executive Noel Quinn presses ahead with changes at the top despite having last month paused a wider job cut programme.

HSBC reshuffles top investment bank jobs: memo

HSBC reports itself to the Australian financial regulator for potential breaches of anti-money laundering rules by its subsidiary in Australia.

HSBC Admits of Possible Anti-Money Laundering Law Breaches

Credit Suisse lowered target prices on U.K. banks and downgraded HSBC HSBC, +1.60% HSBA, +1.36% to neutral from outperform.

News for HSBC Holdings Stock (HSBC)