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HSBC

Lloyds profits fall as it targets wealth push

Lloyds profits fall as it targets wealth push

  • Horta-Osório is leaving Lloyds after a decade running the bank to stand for election as chairman of Credit Suisse in April, with HSBC executive Charlie Nunn set to replace him on August 16.
Published 24 Feb, 2021 12:10pm
European shares fall
Markets

European shares fall

ROTTERDAM: European shares reversed early gains to trade lower on Tuesday as mixed corporate earnings updates...
Published 24 Feb, 2021 05:24am
UK court blocks release of HSBC papers in Huawei CFO fraud case
World

UK court blocks release of HSBC papers in Huawei CFO fraud case

  • Meng is facing charges of bank fraud in the United States for allegedly misleading HSBC about Huawei's business dealings in Iran, causing the bank to violate US sanctions.
  • The judge's written judgment on Friday declined Meng's application and ordered her team to pay legal costs of 80,000 pounds ($111,936).
Published 19 Feb, 2021 05:19pm
Egypt expects to sell around $3 billion in three-tranche bonds
Markets

Egypt expects to sell around $3 billion in three-tranche bonds

  • It tightened price guidance to 4.125% to 4.25% for a five-year tranche, around 6.125% for 10-year bonds and around 7.75% for 40-year notes, the document showed. Demand skewed to the longer tranches.
  • It had given initial price guidance of 4.25% to 4.375% for the five-year tranche, around 6.25% for the 10-year bonds and around 7.875% for the 40-year notes.
Published 08 Feb, 2021 08:12pm
HSBC opts out of Britain's pandemic loan collection plan
Business & Finance

HSBC opts out of Britain's pandemic loan collection plan

  • HSBC told industry body UK Finance, which is setting up the central body, this week that it would not be joining.
  • The source said HSBC had decided to set up its own system as it wanted to closely manage any commercial and reputational risks in-house rather than fully outsource the work.
Published 05 Feb, 2021 07:22pm
First Abu Dhabi Bank launches 400 million sterling bonds: document
Markets

First Abu Dhabi Bank launches 400 million sterling bonds: document

  • Barclays, First Abu Dhabi Bank (FAB), HSBC and TD Securities arranged the deal, another document also from one of the banks arranging the deal showed.
  • FAB had given initial price guidance of around 115 basis points over UK gilts due in September 2025 and received around 850 million pounds in orders for the debt sale.
Published 02 Feb, 2021 07:17pm
HSBC CEO says cannot 'judge motives' of Hong Kong police over frozen accounts
World

HSBC CEO says cannot 'judge motives' of Hong Kong police over frozen accounts

  • The HSBC CEO's summons to face the cross-party Foreign Affairs Committee came after former Hong Kong lawmaker Ted Hui criticised HSBC for blocking his local bank accounts.
  • "I can't cherry-pick which laws to follow," Quinn said, adding that the bank would have to comply with police requests in any country in the world.
Published 26 Jan, 2021 08:43pm
HSBC to axe 82 branches in UK, cut services in others
Business & Finance

HSBC to axe 82 branches in UK, cut services in others

  • The lender said it would be left with 511 branches in the UK following the closures, with many of the remaining branches set to be remodelled with some providing fewer services.
  • HSBC said it had begun trialing different branch formats and decided to provide fewer full service branches focused in large cities and towns.
Published 19 Jan, 2021 08:02pm
Oman back to debt markets with $3.25bn multi-tranche bond
Markets

Oman back to debt markets with $3.25bn multi-tranche bond

  • Oman, rated below investment grade by all major credit ratings agencies, has piled up debt at breakneck speed over the past few years to offset a decline in oil prices and cover widening deficits.
  • The 10-year paper was sold at 6.25% and the 30-year at 7.25%, while the 2025 bond tap offered a 4.45% rate.
Published 14 Jan, 2021 09:46pm