HSBC Holdings plc Sponsored ADR (HSBC)
HSBC: Q2 2024 Earnings Preview, Investment Case Remains Geared To Income
HSBC Holdings plc is expected to report weak Q2 2024 earnings, with potential rate cuts ahead impacting revenue and earnings growth. Despite underperforming the market, HSBC Holdings' dividend yield remains high and sustainable for long-term investors. As interest rates peak, HSBC's profitability may decline, but its capital position and attractive dividend yield offer value for income-focused investors.
HSBC's Zing Leverages Visa Solutions for Cross-Border Payments
Visa announced Tuesday (July 9) that it partnered with Zing, a FinTech that is part of the HSBC Group, to develop an international payments app that Zing launched in the United Kingdom in January.
Focus: HSBC eyes payouts, new roles for execs pipped to CEO job, sources say
As HSBC prepares to name its third CEO in nine years, the bank is exploring financial incentives and reallocating key projects to retain those who miss out on the top job, two people with knowledge of the discussions told Reuters.
HSBC fined $3 mln over incentive offers to agents around MPF scheme
HSBC has been fined HK$24 million ($3.07 million) for offering incentives to "unregistered intermediaries" to get clients to join its Mandatory Provident Fund (MPF) scheme in 2020 and 2021, Hong Kong's pension regulator said.
HSBC limits new hirings and cuts staff spending in cost-cutting drive
HSBC Holdings PLC (LSE:HSBA) is reducing the number of new hirings and asking investment bankers to cut down on travel and entertainment expenses as it looks to cut costs. Departing boss Noel Quinn has launched a range of cost-saving measures including not replacing staff who have left or resigned in recent months.
HSBC users locked out of online banking on payday
HSBC Holdings PLC (LSE:HSBA) users were left unable to access their bank accounts on payday this morning after the lender suffered an outage on its mobile banking app. Some 7,000 reports of outages were made on Downdetector, leading to HSBC issuing a statement, apologising for the issue, promising to have it back up and running soon.
HSBC, Barclays and NatWest all cut mortgage rates
HSBC Holdings PLC (LSE:HSBA) has followed rivals Barclays and NatWest and started to cut its mortgage rates ahead of what is expected a run of base rate reductions to the end of the year and into 2025. NatWest announced reductions to its rates on Friday with Barclays cutting some rates today and now HSBC has said it will lower its rates from tomorrow, though there are no details yet.
HSBC to Streamline Operations in Germany Amid Asia Expansion
HSBC is considering restructuring its Germany-based business through the sale of fund administration unit INKA and custody business as well as wealth management operations.
ABN Amro nears deal to buy HSBC's German private bank, Boersenzeitung says
Dutch bank ABN Amro is seeking to further expand in Germany as it is nearing a deal to acquire HSBC's wealth management unit in the country, newspaper Boersenzeitung reported on Friday, without specifying its sources.
Bidders line up for HSBC's German fund administration and custody units, sources say
State Street , BNP Paribas and Caceis are lining up as potential bidders for the sale of HSBC Germany's fund administration unit INKA and custody business, three sources familiar with the matter told Reuters.
HSBC's Restructuring Efforts & High Rates Aid Amid Cost Woes
HSBC remains well-poised for growth on strategic business restructuring efforts, high rates, and an integrated global network. However, a rising expense base and a tough operating backdrop are concerns.
HSBC names Goldman Sachs veteran as global head of institutional client group
HSBC said on Thursday it had appointed Goldman Sachs veteran Danielle Johnson as the global head of its institutional client group within the global banking and markets business, effective June 3.
