Page 10 - Hsbc
HSBC aims to be top Asia wealth manager in 5 yrs, eyes China middle class
The London-based bank has outlined ambitious plans to expand in wealth management, particularly in China.
 "HSBC aims to be top Asia wealth manager in 5 yrs, eyes China middle class")
Banking giant HSBC exiting US retail banking to focus on wealth management
HSBC says it is closing its US retail banking business in order to refocus its efforts on wealth management
 "Banking giant HSBC exiting US retail banking to focus on wealth management")
HSBC withdraws from US retail banking to target rich clients, Asia
The move is part of a larger plan by HSBC to invest more in Asia, where it's focused on banking the region's wealthy
HSBC Q1 profit rises 79% as Covid vaccine rollout sparks cautious optimism
Bank releases $400 million of provisions on improved outlook; lender unlikely to repeat level of writebacks through 2021, says CFO
Climate activists shatter 19 windows at HSBC HQ in London's Canary Wharf
The activists referenced the struggle of the Suffragettes who used direct action to fight for votes for women in the early 20th Century.
 "Climate activists shatter 19 windows at HSBC HQ in London's Canary Wharf")
HSBC top staff to hot desk at London HQ as bank scraps executive floor
CEO Noel Quinn and other senior managers have been kicked out of their offices on the 42nd-floor.
Foreign brokerages temper return expectation from Indian equities
Goldman Sachs analysts now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their 'overweight' stance on India for now
 "Foreign brokerages temper return expectation from Indian equities")
The big, easy 'buy' story in Asia over; remain underweight on India: HSBC
HSBC has raised their 2021 global and EM gross domestic product (GDP) forecasts to 5.6 per cent (from 4.8 per cent) and 6.6 per cent (6.1 per cent), respectively
HSBC in talks to sell French retail banking to Cerberus, says report
The planned disposal is part of HSBC Chief Executive Noel Quinn's strategy to slash costs across the banking group and Reuters previously reported that Cerberus was among two remaining bidders
Citigroup needs a new strategy for its lagging Asian consumer banks
Citi has pan-Asian heft, garnering about 30% of its revenue in the region from ASEAN nations
 "Citigroup needs a new strategy for its lagging Asian consumer banks")
Global retail banking: A particular breed heading for extinction
When HSBC and Citigroup were expanding, they were offering best-in-class consumer banking. As technology improved, local rivals have overtaken them
HSBC lowers ambitions on dividends, returns after Covid-led profit fall
Citing the low interest rate environment and tough market conditions, HSBC abandoned its long-term profitability goal of achieving a return on tangible equity of 10 to 12 per cent
HSBC to announce exit from US retail banking, reshuffles top jobs
HSBC on Tuesday is set to report an expected plunge in annual profits reflecting the impact of the Covid-19 pandemic
 "HSBC to announce exit from US retail banking, reshuffles top jobs")
Top headlines: SC halts Future-RIL deal, Puducherry CM loses trust vote
India is set to clear 45 investment proposals from China as border tensions ease; HSBC ups India's FY22 GDP forecast to 11.2%
 "Top headlines: SC halts Future-RIL deal, Puducherry CM loses trust vote")
HSBC ups India's FY22 GDP forecast to 11.2%, cuts inflation target to 4.7%
Besides India, HSBC has cut 2021 CPI inflation forecasts for Hong Kong, Indonesia, Japan, Singapore, Thailand, and Vietnam. In Korea and Malaysia, the upward revisions were marginal
 "HSBC ups India's FY22 GDP forecast to 11.2%, cuts inflation target to 4.7%")
Huawei takes HSBC to UK court for documents in extradition fight
Huawei took UK bank HSBC to court on Friday seeking documents the Chinese company says are key to its legal efforts to stop its chief financial officer from being extradited to the US from Canada.
 "Huawei takes HSBC to UK court for documents in extradition fight")
HSBC inaugurates international banking unit at GIFT City in Gujarat
Global financial services major HSBC on Tuesday inaugurated its International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat.
HSBC set to face shareholder heat on fossil fuels in annual general meeting
Major HSBC shareholders are calling on Europe's biggest bank to toughen its commitment to cut lending linked to fossil fuels and to turn its climate "ambitions" into targets
Hong Kong ex-lawmaker Ted Hui says his bank accounts have been frozen
Five accounts belonging to Hui, his wife and parents have been inaccessible since Saturday, he said in an interview with the newspaper
 "Hong Kong ex-lawmaker Ted Hui says his bank accounts have been frozen")
Scaling back global ambitions, HSBC may dump US consumer banking business
The US retreat would follow a sweeping restructuring earlier this year that called for 35,000 cuts