Page 2 - Hsbc
Cognizant names Sailaja Josyula as Global Head of GCC Service Line
IT major Cognizant on Tuesday said it has appointment Sailaja Josyula as Global Head of its Global Capability Center (GCC) Service Line. Based in Hyderabad, she will oversee "the definition and execution" of Cognizant's global GCC strategy, establishing and leading a cross-functional team, a company statement said. "With her extensive experience and proven track record, Sailaja's leadership will boost our ability to build and scale GCCs, delivering great value for our clients," said Surya Gummadi, President, Americas, Cognizant. Josyula has rejoined Cognizant after a brief stint at EY. Between 2018 and 2024, she held several leadership roles at Cognizant, including serving as the Hyderabad Center Head and Global Head of BFSI Operations Delivery. With nearly 30 years of experience, she has also held leadership positions at Thomson Reuters and HSBC.
 "Cognizant names Sailaja Josyula as Global Head of GCC Service Line")
Reits climb the office ladder even as valuations keep rungs in place
Realty index in the rearview as office demand pulls Reits out of a two-year slump
 "Reits climb the office ladder even as valuations keep rungs in place")
Leap Finance secures $100 mn debt facility from HSBC to help int'l students
Lack of affordable and flexible financing is one of the biggest challenges faced by many high-quality students in their pursuit of a global education
 "Leap Finance secures $100 mn debt facility from HSBC to help int'l students")
Manufacturing PMI dips to 14-mth low in Feb as new orders, production fall
Despite slowing to the weakest since December 2023, rates of expansion in output and sales remained elevated, according to a private survey
 "Manufacturing PMI dips to 14-mth low in Feb as new orders, production fall")
RBI imposes penalty on HSBC, IIFL Samasta Finance for violating norms
With reference to HSBC's financial position as on March 31, 2023, RBI found that the bank had outsourced the disposal or closure of anti-money laundering (AML) alerts to a group company
 "RBI imposes penalty on HSBC, IIFL Samasta Finance for violating norms")
HSBC reducing staff numbers by 900 at China Pinnacle unit: Report
The reversal underscores the challenges the Asia-focused bank faces to boost growth and profitability in China at a time when it is slashing costs to boost returns
 "HSBC reducing staff numbers by 900 at China Pinnacle unit: Report")
HSBC to incur $1.8 bn in costs over next two years in CEO's revamp
Europe's largest bank, which has been deepening its push into Asia and some Middle East markets, reported fourth-quarter pretax profit of $2.3 billion
HSBC lays off 40 dealmakers in Hong Kong as part of revamp to cut costs
The job cuts in HSBC's regional hub Hong Kong started on Monday, where at least four managing directors were let go, with three of them based in Hong Kong and one in Singapore
 "HSBC lays off 40 dealmakers in Hong Kong as part of revamp to cut costs")
Gold rush: Why JPMorgan, HSBC are pulling bullion from Bank of England
Donald Trump's tariff threats spark huge gold rush from London to New York as prices surge 11% in the US
 "Gold rush: Why JPMorgan, HSBC are pulling bullion from Bank of England")
HSBC plans to unveil $1.5 billion of annual cost savings on February 19
HSBC said that it plans to wind down its M&A and some equities businesses in Europe and the Americas, accelerating a shift towards Asia in its biggest retrenchment from investment banking
 "HSBC plans to unveil $1.5 billion of annual cost savings on February 19")
January's biz growth at 14-month low due to weak services demand: PMI data
Composite job creation reached an all-time high since the survey's inception in December 2005.
 "January's biz growth at 14-month low due to weak services demand: PMI data")
Microsoft's Satya Nadella tops HSBC Hurun Global Indians List 2024
The report highlights the significant global influence of Indian-origin leaders, with 79 per cent of the list's entrants residing in the United States
 "Microsoft's Satya Nadella tops HSBC Hurun Global Indians List 2024")
HSBC India gets RBI approval to open 20 new branches in 20 cities
HSBC India's branches in the country will now go up to 46
Tata Capital raises $400 mn via maiden dollar-denominated bond issue
The non-banking finance company will pay a coupon of 5.3890 per cent on what is its maiden dollar-bond issue
 "Tata Capital raises $400 mn via maiden dollar-denominated bond issue")
Biocon extends rally, up 6% in 2 days on HSBC, Motilal Oswal 'Buy' upgrade
Notably, Biocon share price has surged about 6 per cent in the last two sessions
 "Biocon extends rally, up 6% in 2 days on HSBC, Motilal Oswal 'Buy' upgrade")
India's $556 bn equity rout worsens amid growth, inflation concerns
The benchmark NSE Nifty 50 Index will likely drop at least 5 per cent in the three-months through March
 "India's $556 bn equity rout worsens amid growth, inflation concerns")
Most brokerages bullish on TCS post Q3; CLSA upgrades to 'Outperform'
Analysts have mixed views on TCS following its Q3FY25 performance, with several brokerages highlighting the company's growth potential despite near-term challenges
 "Most brokerages bullish on TCS post Q3; CLSA upgrades to 'Outperform'")
HSBC downgrades Indian markets to 'Neutral,' slashes Sensex target for 2025
HSBC has revised its Sensex target for the end of 2025, lowering it to 85,990, from 90,520 earlier
 "HSBC downgrades Indian markets to 'Neutral,' slashes Sensex target for 2025")
Markets Today: FY25 GDP; Wall St. slips; Q3 results; Leo Dry Fruits listing
At 6:31 AM, GIFT Nifty futures indicated a subdued start, trading 72 points lower at 23,723, suggesting a negative opening for Indian bourses
 "Markets Today: FY25 GDP; Wall St. slips; Q3 results; Leo Dry Fruits listing")
Indian manufacturing ends strong 2024 with a soft note, Dec PMI at 56.4
According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024
 "Indian manufacturing ends strong 2024 with a soft note, Dec PMI at 56.4")
