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The Latest Breaking News from HSBC

HSBC To Offload Argentina Business, Absorbs $1 Billion Loss on Exit Deal

HSBC announced its agreement to sell its business in Argentina for $550 million, with a $1 billion pre-tax loss in the first quarter of 2024.

International Business Times

HSBC exits Argentina nursing $1 billion in losses

Argentina exit followers earlier Mexican cocaine scandal

Evening Standard

Gold hits fresh record high; Fitch downgrades Thames Water parent company – as it happened

Rolling coverage of the latest economic and financial news, as gold rises almost 1% today to $2,365 per ounce

The Guardian - UK

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Morgan Stanley will not quit Canary Wharf as it signs new lease until 2038

Big-name tenants like HSBC, Clifford Chance and Moody’s recently announced plans to leave Canary Wharf for the City, but the US investment bank will not follow them

Evening Standard

HSBC Launches Tokenized Gold Product in Hong Kong

The Gold Token is aimed at retail investors and is part of the government’s drive to build the city into a global virtual assets hub

Caixin Global

Mortgage shock as two major lenders raise interest rates on some products while cutting prices on others

Mortgage brokers were baffled by some of the changes

Evening Standard

HSBC urges investors to back AGM vote opening way to higher bonuses

London-headquartered lender wants to take advantage of UK’s decision to scrap bonus cap

The Guardian - UK

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HSBC and NatWest accused of financing North Sea oil extraction despite pledge

Campaigners call on banks to cease funding Ithaca, which is playing a key role in Rosebank oilfield plan

The Guardian - UK

Mortgage holders and house hunters eye looming inflation data before Bank of England interest rate call

City experts predict that rate of price rises will hit BOE’s target in one or two months’ time

Evening Standard

Strength in Technology Stocks Leads the Broader Market Higher

The S&P 500 Index ($SPX ) (SPY ) this morning is up +1.05%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.37%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.63%. Stocks this morning are moderately higher, led by strength in technology stocks. Alphabet...

Barchart

Stocks Rally on Strength in Technology Stocks

The S&P 500 Index ($SPX ) (SPY ) this morning is up +1.00%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.24%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.67%. Stocks this morning are moderately higher, led by strength in technology stocks. Alphabet...

Barchart

Banks driving increase in global meat and dairy production, report finds

Financiers providing billion-dollar support for industrial livestock companies to expand leading to unsustainable rise in production

The Guardian - UK

Millions more in cash needed to fund UK’s open-banking watchdog

Exclusive: £10m needed for regulator charged with developing tools to thwart financial crime and protect consumers

The Guardian - UK

HSBC Innovation Banking needs to reaffirm its roots

City Comment: SVB UK had an intimate knowledge of the British startup scene. It mustn’t lose sight of that.

Evening Standard

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Evening Standard

Board exit at HSBC Innovation Banking

When HSBC acquired the UK arm of the collapsed Silicon Valley Bank last year, boss Noel Quinn talked up the importance of preserving its operational independence. The firm would keep its own separate office across town and staff would not be ferried into Canary Wharf. “It’s a unit we purchased and we want…

The Guardian - UK

When £17m isn’t enough: FTSE firms plead to pay bosses millions more

Confronted by the huge salaries on offer in the US, London boardrooms are lobbying to be allowed to make their own bosses even wealthier

Ballotpedia

West Virginia treasurer sends letter to financial institutions over ESG practices

West Virginia Treasurer Riley Moore (R) sent a letter on February 22, 2024, to six banks—including Citibank, TD Bank, and HSBC—warning that they may be ineligible for contracts with the state in 45 days unless they show that they do not illegally boycott fossil fuel companies.

Ballotpedia

West Virginia treasurer sends letter to financial institutions over ESG practices

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

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news in one place.

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The Hindu

India's services sector growth eases in February on softer expansions in business activity, sales

India's services sector growth moderates in February, with business activity, sales, and jobs showing softer expansions.

International Business Times

ECB To Hold Rates Again, Awaiting Clearer Signs On Inflation

The European Central Bank is expected to freeze interest rates again this week, with officials wary of starting to cut before they see more evidence that recent falls in inflation will be sustained.

Evening Standard

Coventry Building Society is latest lender to hike mortgage rates

Evening Standard

Mortgage rate rises branded 'March madness' by brokers as banks hike home loan costs

HSBC among the lenders lifting the cost of home loans the day after it reported record annual profit

Evening Standard

What did we learn about our banks this week?

City Voices: UK bank shares have been stock market laggards for years

Caixin Global

Shanghai Composite Index Rose 1.27% on Thursday

Shenzhen Component Index closed up 0.76%

International Business Times

Navigating China's Real Estate Crisis: HSBC Reports Significant Quarterly Profit Drop

HSBC's quarterly profit took a significant hit due to impairment charges on its investments in China's Bank of Communications.

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