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HSBC shares under pressure as profits slide
"We remain on track to achieve our cost targets for 2022 and 2023."
Company
HSBC Holdings PLC
LON:HSBA
HSBC serves customers worldwide from more than 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC is one of the world's largest banking and financial services organisations.
614 stories · page 3 of 7
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FTSE 100 closes near flat as new PM Sunak restores calm to market
Britain's top share market finished a shade down at around 0.51 points lower, or 0.0073%, at 7,013
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HSBC and Standard Chartered in rates 'sweet spot' ahead of Q3 results
Bad credit provisions are expected to rise but rising interest rates should offset this
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FIVE at FIVE: Lloyds and Barclays shares fall; Netflix’s revival; Truss ’completely committed’ to triple lock; Labour plans fracking overturn
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
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HSBC adverts banned by watchdog for greenwashing
A series of adverts by HSBC Holdings PLC have been banned by the Advertising Standards Authority due to misleading environmental claims.
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HSBC exploring sale of Canadian arm - Sky
A report on Sky News said that HSBC's board has instructed investment bankers at JP Morgan to sound out prospective buyers of its business in the country
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HSBC may leave its Canary Wharf headquarters - report
The bank is currently facing calls to move its headquarters over to Asia, where it generates most of its profits
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Fuller Treacy Comment of the Day - House Sales Collapse as UK Lenders Withdraw Mortgage Offers, and more...
Comment of the DayVideo commentary for September 27th 2022A link to today's video commentary is posted in the Subscriber's Area. Some of the topics discussed include: bitcoin fails to hold intraday rally, bond yields extend advance, dollar
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HSBC says it may have to significantly raise salaries
HSBC would fall short of its cost target by approximately US$500mln based on its current trajectory
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Ping An stays firm on HSBC spin-off call but not an 'activist'
'We are not an activist investor, but we do care very much about long term value'
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HSBC share price target raised by two brokers
Two investment banks today raised their target price for HSBC's shares, where they believe they would represent fair value
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HSBC 'had to listen' to shareholders but analysts doubt Ping An can force separation
Analysts are sceptical as to whether Ping An, a larger but lone shareholder, could force a shareholder resolution to split the bank
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HSBC considers 'alternative structures' as break-up pressure builds
Even as the bank hard-sells its growth plan to investors in Hong Kong, angry shareholders want Asian operations spun off
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HSBC activist Ping An adds “uncertainty to the investment case” - broker
The bank's largest shareholder has put pressure on the bank to split its Asia operations
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HSBC says it will 'restore the dividend to pre-Covid levels'
CEO Noel Quinn said the bank was well positioned to benefit from an increase in interest rates
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HSBC’s share gains could be under threat from Natwest, Barclays and Lloyds
HSBC is expected to post lower pre-tax profits in 2022, which could have a knock-on effect on its buoyant share price
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Growing influence of ESG advisers to be probed
The Financial Reporting Council will undertake the review
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HSBC banker resigns and rips into former employer and 'cancel culture'
Many in the finance sector were surprised by Kirk's initial comments about climate change, in which he also mentioned there was "always some nut job telling me about the end of the world"
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Chinese property developer Shimao misses payment on bond
Evergrande, Kaisa Group, and Sunac China are three of the top five issuers who have reportedly defaulted on their dollar bonds
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HSBC suspends responsible investing boss after controversial speech
Stuart Kirk questioned whether the impact of climate change really mattered.
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HSBC break-up not the way to go, suggests Credit Suisse
HSBC’s Asian arm is unlikely to attract the same kind of premium as the group’s Hang Seng bank.
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HSBC break-up talk may be catalyst for new HQ review
After its last review the bank decided to keep its headquarters in London due to the UK's "important and globally connected economy" - but that was in early 2016 before the Brexit vote
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HSBC jumps on break-up proposals from largest shareholder
Boss Noel Quinn last year confirmed the bank's future focus will be pointed even more towards Asia, with an exit from the US planned
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HSBC faces AGM pension protest and calls to defeat climate vote
Ahead of today's AGM, hedge fund billionaire Christopher Hohn has urged shareholders to vote against the directors of banks “who are hiding their exposure to climate risk”
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HSBC shareholder returns off the table in 2022, analysts say
Covid restrictions in Asia, lower market volumes and market appetite accounted for lower than expected income but, argued analysts at UBS, "are not permanent in our view"
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HSBC profits hit by Hong Kong lockdown and loss provisions for inflation
Although the Russia-Ukraine war has exacerbated inflationary pressures and increased economic uncertainty, the bank sees an improved outlook for revenue
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FTSE 100 closes modestly higher, erasing a bigger rally as US stocks retreat ahead of big tech earnings
In London, the UK blue-chip index closed 5.65 points, or 0.1% higher at 7,386.19, just above the day’s low of 7,380.54 and well below the session peak of 7,463.15
AGM votes at HSBC, Glencore and AstraZeneca on climate change, pay may face strong opposition
AGM questions from shareholders have in the recent past provided the 'nudge' that leads companies to make improvements on pay, renewable energy and climate targets, says investors activist group ShareAction
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HSBC increases stake in Chinese JV as eastern expansion continues
HSBC is betting on rising incomes in the Greater Bay Area and other parts of China.
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HSBC cuts Ukraine 'war' reference as fighting rages on
The bank is one of the few that has not announced plans to withdraw from Russia
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HSBC to close another 69 branches this year
The closures will begin in July. HSBC. The bank hopes to redeploy all of the 400 staff working in the branches that are to be closed.
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FIVE at FIVE: HSBC doubles profits, UK petrol prices surge, investors turn to gold and Russian companies hammered in London
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
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HSBC pledges to crank up its low-carbon emission efforts
The banking giant is committed to working with its clients to develop valid, science-based transition plans to understand how it will achieve “net zero” by 2050.
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HSBC profits double on the back of economic recovery and release of credit losses
The bank said it would hit its target of 10% return on equity in 2023, a year earlier than anticipated, if central bank interest rates rise in line with market expectations
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FTSE 100 ends higher even as Russia-Ukraine tensions heat up
The UK blue chip index recovers from lows but Wall Street wary as geopolitical tensions escalate
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How will HSBC match up to bank rivals?
Other companies reporting on Tuesday include Antofagasta, Hargreaves Lansdown, InterContinental Hotels Group and Oxford Cannabinoid Technologies
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HSBC to phase out financing of thermal coal by 2030 in EU/OECD, by 2040 worldwide
The bank said it intends to reduce its exposure to thermal coal financing by at least 25% by 2025 and by 50% by 2030
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Barclays, NatWest and HSBC fined €344mln over forex rigging cartel
The "Sterling Lads" cartel focused on forex spot trading in ten currencies
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HSBC unveils buyback as profits soar
The UK’s profit contribution tripled to US$1.5bn in the three months
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FTSE 100 makes positive start to the week, but ends off new 18 month peak
At the close, the UK blue-chip index was 18.27 points, or 0.3% higher at 7,222.82, below the day’s peak of 7,247.53 but above the low of 7,204.55
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HSBC is ‘exceptionally attractive’ value if interest rates rise (and cheap if they don't) says UBS
Rate cuts have cost the bank 20% of pre-tax profits since 2019
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HSBC makes US$10bn interim profit as bad debts improve
“We now expect to move to within our target dividend payout ratio range of 40% to 55% of reported earnings per ordinary share in 2021."
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HSBC unloads French retail banking arm for US$3bn loss
HSBC has been exiting its retail banking operations outside its core areas of Asia and the UK.
HSBC upgraded as JP Morgan sees interest rate tide turning
Low rates have affected both HSBC and Standard Chartered's net interest margins
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FTSE 100 trims gains again before the close; Wall Street enjoying strong end to the week
London's leading index advanced 3 points to 7,023 on Friday
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HSBC’s US exit welcomed by analysts
In a note, analysts at Citi said the banking giant's decision to quit US retail banking could help turn its American wealth and personal banking business “from loss making to being profitable”
HSBC to field questions on US retail banking exit at Friday's AGM
Friday is a quiet day for scheduled corporate announcements and macroeconomic data; a good opportunity, perhaps, to make the long weekend even longer?
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HSBC to exit US retail banking market amid strategy pivot
The banking giant said it will exit 90 of its 148 US bank branches, with the remaining branches to be wound down or converted into international wealth centres
Bitcoin too volatile for us, says HSBC boss
CEO Noel Quinn said the banking giant has no plans to launch a crypto trading desk or offer digital currency as an investment option to its clients
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Have Q1 results changed the outlook for prospective HSBC investors? This leading bank thinks not
On Tuesday HSBC said a recovering UK economy helped profits rebound 79% to US$5.8bn in the first quarter of 2021
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HSBC profits bounce back as economic outlook improves
The bank said the economic outlook had improved sufficiently to lower its bad debt forecast
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FTSE 100 declines despite modest rise by sterling against the dollar
It was a dull day in London, but New York appears headed in the right direction after a negative open
Bitcoin price takes a hit as Turkey plans ban on crypto payments
The country's central bank has unveiled plans to ban the use of crypto to purchase goods and services from April 30, citing concerns over lack of regulation and a volatile market
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HSBC price target raised but Barclays remains lukewarm towards the shares
Ahead of HSBC's first-quarter results at the end of the month, Barclays was equivocal about the appeal of the shares.
Lloyds Banking shares favoured again, this time by Barclays
“We remain positive on UK banks with the runway clearing and look for an activity-driven rebound"
HSBC bans customers buying MicroStrategy shares because of bitcoin holding
MicroStrategy last week said it owned 91,579 bitcoins
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HSBC to move 1,200 UK employees to permanent home working
Around 70% of the bank's 1,800 call centre staff have volunteered to never go back to the office
Why AI can help you beat the market
“It’s like thousands of traders working around the clock to help us learn what to invest in and when”
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HSBC is being bounced out of coal, apparently. Or is it?
The bank was set up in Shanghai in the middle of the 19th century, and has had a chequered public relations history ever since
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HSBC to invest up to US$1 trillion to help customers decarbonise
The bank will phase out the financing of coal-fired power and thermal coal mining by 2040 and set net-zero targets for customers
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Banking on dividends: Lloyds Banking and NatWest set the pace
The banks have been allowed to start paying dividends again but some have opted to "return cash" by buying back shares, which might boost the bank's EPS but won't pay the grocery bills
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HSBC to slash office space but committed to Canary Wharf
Analysts were surprised at the cut in the return in equity target from 10-12% to 10%.
HSBC confirms focus shift towards Asia as profits tumble
Profits fell 34% to US$8.8bn, which was slightly better than expected but affected by higher bad debt charges
HSBC's pivot away from UK and US likely to overshadow financials on Tuesday
There will also be results from Holiday Inn owner Intercontinental Hotels, chemicals specialist Croda International and household goods manufacturer McBride
Lloyds, HSBC and AB Foods results come after PM sets agenda with lockdown reopening speech
Resuts are also due from Standard Chartered, IAG, BAE Systems and Serco
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FTSE 100 closes in red as yesterday's inoculation optimism fizzles out
The UK's top share index closed down around seven points, or 0.11%, at 6,748
HSBC to shutter 82 UK branches as customers prefer digital banking
The move is not expected to result in job losses as staff will be moved to nearby sites
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HSBC ponders exit from US retail banking
The giant lender said last month that it was "pursuing options to accelerate the transformation" of the US business
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HSBC posts smaller-than-expected 35% drop in quarterly profit, easing in bad debt provisions
Reported pre-tax profit for the Asian-focused lender came in at $3.1bn for the quarter ended September 30, higher than the $2.07bn average of analysts’ forecasts
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FTSE 100 mirrors yesterday's steady decline; Wall Street muddled over coronavirus fears
It has been another day of steadily accumulating losses for the Footsie, with sentiment not helped by a strong sterling exchange rate
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Corporate deluge kicks off with a vengeance on Tuesday, including updates from HSBC and BP
HSBC is estimated to post a pre-tax profit of US$2.1bn, compared to US$1.1bn in the second quarter and US$3.2bn in the first quarter
Lloyds and bank peers, BT, BP, Shell and US tech giants make for packed week ahead
There will also be updates from GlaxoSmithKline, Next, Smith & Nephew, Whitbread and WPP, plus many more
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HSBC announces net-zero carbon emissions target for own operations, customers
The bank allocated between US$750bn and US$1 trillion over the next ten years to help its customers achieve the new target
HSBC surges as largest shareholder ups stake
Ping An Asset Management, part of Chinese investment giant Ping An Insurance, increased its stake in the bank to 8% from 7.95% late last week
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HSBC and Standard Chartered hit by new money laundering allegations
HSBC said the leaked documents related to historical events
Are UK banks a buy? Here’s what Goldman Sachs thinks
“Whilst managements of stronger banks were keen to underline their conviction of a dividend return to normal next year, investors’ reluctance to incorporate this into their investment thesis is at an all-time high,” the analysts reckon
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Alarm bells ring for pensioners as publisher Archant negotiates rescue
Archant, the publisher of the Ham & High and Eastern Daily News, has negotiated a rescue deal by private equity investor Rcapital
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HSBC edges lower as Goldman Sachs cuts target price, estimates in wake of recent second-quarter results
The US bank cut its target back by 7% to 525p from 565p, with the shares currently trading at 325.25p, down 0.1% on Friday's closing price
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HSBC weak as it posts a 65% drop in first-half pre-tax profit with bad debt provisions hiked for coronavirus pandemic
The FTSE 100-listed global lender posted a pre-tax profit of $4.32bn for the half-year to June 30, 2020, down from $12.41bn and below the analyst consensus estimate of $5.67bn
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HSBC, BP, Aviva and ITV among heavy hitters to report in coming week
The macro front will also see some key events including the Bank of England's interest rate decision and the latest US non-farm payroll data
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Breakfast News - Location Sciences, Powerhouse Energy, Hurricane Energy and more...
AEX Gold (TSXV:AEV) is intending to admit its shares to AIM alongside a £45m placing. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering
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HSBC and Standard Chartered slide as US considers undermining Hong Kong dollar peg
Decoupling the Hong Kong dollar from the greenback could leave the bank's profits more exposed to adverse foreign currency movements
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HSBC to invest further in mainland China despite fallout over Hong Kong security law
The banking giant said it will establish a financial technology firm in the country, while one of its joint ventures will hire more staff for a wealth management unit to attract customers in Guangzhou and Shanghai
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HSBC denies rumours it will pull out of China, says it will continue to invest
The banking giant posted on its official WeChat account saying the Chinese population should "reasonably" consider its positive role as an international bank
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HSBC and Standard Chartered back imposition of Chinese security laws on Hong Kong
The new laws have attracted criticism from international human rights groups as well as opposition politicians in Hong Kong, who fear they will be used to silence opposition to the Chinese Communist Party
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HSBC exposed as Hong Kong becomes proxy battleground for US-China trade war
Analysts at Jefferies have switched preference to Standard Chartered, giving it a double-upgrade
HSBC and Standard Chartered sink as China plans to impose new security laws on Hong Kong
The new law, which suppsedly targets subversion, terrorism and foreign influence in Hong Kong, has sparked fears of renewed mass protests as well as an erosion of the city's status as a global financial hub
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HSBC's exposure to Asia matters more in perception than reality, analyst says
The FTSE 100 lender's footprint in faster-growing markets such as Asia distinguishes it from many peers, the analysts said
Royal Dutch Shell toppled as London's most highly-valued company
At the point at which the demand for oil collapsed, the need for new drugs became a hot issue.
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HSBC shares pricing for 'low growth for a very long time'
Coronavirus loan losses make the headlines but the real sickness for banks is from more years of low interest rates
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HSBC profits plunge due to preparations for huge coronavirus loan losses
“The economic impact of the Covid-19 pandemic on our customers has been the main driver of the change in our financial performance since the turn of the year”
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FTSE 100 closes on front foot as traders eye easing of restrictions
Britain's top share benchmark finished the day up over 111 points at 5,958, while FTSE 250 added over 338 at 16,291
Builders and building materials
HSBC and BP updates kick off big weeks for banks and oilers on Tuesday
There are also updates from Travis Perkins, Weir Group and Shoe Zone on Tuesday
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Banks, oilers, pharmaceuticals and supermarkets the big hitters in coming week
Updates in the coming week include a litany of blue-chips such as BP, Shell, AstraZeneca, GSK and Sainsbury's
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HSBC slumps as profits halve amid hefty restructuring charges
The bank also warned that the coronavirus outbreak could result in “revenue reductions" and "further credit losses" as a result of the disruption in China and Hong Kong
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FTSE 100 closes underwater; Wall Street continues to lose ground
The index of leading UK shares fell 51 points to 7,382 on Tuesday
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Coronavirus impacts could be focus of results from HSBC, InterContinental Hotels , BHP, and Glencore
Figures on unemployment for December in the UK are also on the diary
Lloyds, HSBC continue banking results season; mining giants also in focus
The coming week's agenda includes results from Anglo American, BHP, Glencore, BAE Systems, Smith & Nephew, and Pearson
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HSBC and RBS favoured banks at Credit Suisse; Lloyds and Barclays just 'neutral'
The Swiss investment bank rated both stocks at 'outperform' while staying 'neutral' on Lloyds and Barclays and negative at 'underperform' for Standard Chartered
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Today's Market View - Antofagasta, Ariana Resources, Ceres Power and more...
Antofagasta (LON:ANTO) 922p, Mkt Cap £9.1bn – A good year for Antofagasta Ariana Resources (LON:AAU) 2.825p, Mkt Cap £29.9m –High-grade channel samples at Tavsan Ceres Power (LON:CWR) 346p, Mkt cap £533m - Bosch increases holding in Ceres P