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HSBC first-half profit slumps 26% as China losses mount
HONG KONG/LONDON] HSBC Holdings reported a 26 per cent slide in first-half pretax profit on Wednesday (Jul 30), missing analyst estimates, as impairments from its investment in China’s Bank of Communications and exposure to Hong Kong real estate weighed.
The London-based bank reported a drop in second-quarter net profit and said it plans to initiate a share buyback of up to $3 ...
In its latest earnings report, HSBC chalked up a less-than-stellar performance in Q2 to a struggling Hong Kong office market.
The boss of HSBC has warned Rachel Reeves that a punishing new tax raid will deliver a hammer blow to the UK economy.
CEO Georges Elhedery flagged “structural challenges” to the global economy that have caused uncertainty and market volatility, citing “broad-based tariffs.” ...
The boss of FTSE 100 juggernaut HSBC has become the latest banking voice to warn Rachel Reeves against raising taxes on banks ...
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HSBC targets $1.5 bn in annual cost savings after revamp - MSNBanking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost savings by the ...
HSBC's new CEO Georges Elhedery aims to save $300 million in 2025. The bank also plans to reduce its cost base by $1.5 billion by the end of next year.
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