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 expects to shoulder about $6 billion in restructuring costs, largely this year and next.

HSBC to cut 35,000 jobs in massive restructuring as profits sink

HSBC could be forced to take $600 million in additional provisions against loan losses if the Coronavirus outbreak persists into the second half of this year, Chief Financial Officer Ewan Stevenson said on Tuesday.

HSBC eyes $600 million in losses if Coronavirus persists

HSBC witnesses rise in expenses and revenues in the fourth quarter of 2019.

HSBC Stock Declines on Q4 Pre-Tax Loss, Restructuring Update

HSBC, (Hong Kong and Shanghai Banking Corporation) which is, for now, Europe’s largest bank said its pre-tax full-year profit for 2019 collapsed by 33% due to $7.3 billion in write-offs.

HSBC To Scale Back In Europe As Profit Falls By A Third

Europe’s biggest bank announced its profits fell by a third, with interim CEO Noel Quinn announcing plans to cut tens of thousands of jobs.

HSBC To Cut 35,000 Jobs In Huge Overhaul

HSBC Holdings Plc (NYSE: HSBC) reported pre-tax earnings that missed analysts’ expectations on Tuesday.

HSBC To Restructure, Close Jobs And Offices After Missing Earnings Expectations

Bank warns of ‘meaningful’ job losses in UK and of impact of coronavirus outbreak in Asia

HSBC to cut 35,000 jobs worldwide as profits plunge

HSBC on Tuesday announced plans to cut costs and overhaul its business worldwide after reporting a 33% profit plunge in 2019.

HSBC unveils an overhaul of its global business as profits drop 33%

HSBC Holdings PLC  on Tuesday unveiled plans to cut $100 billion in assets, slash its investment bank and restructure in the United States and Europe, as it launched its biggest overhaul in years in a bid to improve returns.

HSBC sets new cost cutting, earnings targets after 2019 profit falls 33%

HSBC Holdings PLC  on Tuesday posted a fall of 33% in annual profit, lagging analyst estimates, mainly due to a goodwill impairment of $7.3 billion related to its investment banking and commercial banking businesses in Europe.

HSBC 2019 profit falls 33%, misses estimates

HSBC, headquartered in London, is scheduled to report full-year 2019 earnings on Tuesday.

Europe's largest bank will report its earnings today. Here's what to expect

HSBC on Tuesday reports 2019 results and will set out its new strategy, where interim Chief Executive Noel Quinn will audition for the permanent role by announcing major restructuring efforts. Here are five key things to look out for:

Five things to look out for in HSBC's new strategy

HSBC Holdings  is considering a potential merger of two of its biggest divisions, as well as the creation of a "bad bank" to house billions of dollars of unwanted assets and businesses, MarketWatch sister publication Financial News reported, citing unnamed people familiar with the situation. HSBC declined to comment to the outlet.

HSBC may merge divisions and create a $250 billion 'bad bank': report

Credit Suisse upgraded its view on HSBC to outperform from neutral as started coverage on other U.K. banks.

Credit Suisse upgrades HSBC as it starts coverage on other U.K. banks

HSBC's new strategy overhaul is expected to include job cuts and reduce the banks' presence in some smaller markets.

HSBC Set to Unveil New Strategy Update to Boost Profits

HSBC  is set to unveil a new round of job cuts targeting senior international managers and reduce its presence in some smaller markets as part of a wider strategy overhaul, people with knowledge of the matter told Reuters.

Exclusive: HSBC to axe senior managers in strategy shift - sources

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Hong Kong saw a market-wide drop on Wednesday as markets opened after the Lunar New Year holidays.

Alibaba, Tencent, HSBC, Other Hong Kong Stocks Drop Over Coronavirus Concerns As Markets Open After Holiday

HSBC (HSBA.L) is considering selling its Turkey business amid concerns about the country’s volatile currency and economic outlook, sources familiar with the matter said.

Exclusive: HSBC considering exit from Turkey - sources

A British bank bigwig caught having sex in an office bathroom while having numerous affairs with staffers was dubbed “Weinstein” by grossed-out colleagues, an employment tribunal was told. Married father-of-four Robert Clegg, 48, is accused of bragging about sleeping with underlings and openly getting handsy with others, telling one, “We’d have great sex,” according to.

Robert Clegg, HSBC bank boss, accused of numerous affairs with staffers

HSBC  is cutting around 100 roles in its equities business with the bulk of the layoffs falling on its continental European trading floors, sources familiar with the matter told Reuters.

HSBC cutting around 100 staff in equities business: sources

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HSBC   will suspend overnight services at 19 ATM clusters in Hong Kong on weekends and public holidays, the bank said on Friday, two days after its branches and ATMs were targeted during anti-government protests.

HSBC to stop weekend, overnight services at some Hong Kong ATMs after branches vandalized

HSBC   is being drawn into Hong Kong's political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-center headquarters.

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