HSBC Holdings

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The Retail Banking and Wealth Management segment consists of retail banking, wealth management, asset management, and insurance. The Commercial Banking segment offers banking products and services. The Global Banking and Markets segment includes transaction banking, financing, advisory, capital markets, and risk management services. The Global Private Banking offers transaction banking, financing, advisory, capital markets and risk management services to high net worth individuals and families. The Corporate Centre segment is comprises of central treasury, including balance sheet management, other legacy businesses, interests in associates and joint ventures, central stewardship costs and the UK bank levy. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

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Founded in 1865 to finance trade between Asia and the West, today HSBC is one of the world’s largest banking and financial services organisations serving around 46 million customers. Their aim is to be acknowledged as the world’s leading and most respected international bank.

British financial giant HSBC Holdings PLC (NYSE: HSBC) will move forward with the 35,000 layoffs it delayed due to the COVID-19 pandemic.

HSBC Plans to Fire Equivalent of Small American City

HSBC (LON: HSBA) said on Wednesday that it has decided in favour of reviving its plan of laying off roughly 35,000 jobs; a plan that was put on hold in recent months due to the Coronavirus pandemic as the bank said it was unfair to cut jobs amidst the novel financial challenges.   Shares of the bank posted an around 1% intraday loss on Wednesday.

HSBC to resume its plan of cutting about 35,000 jobs as COVID-19 raises new financial challenges

UK-listed bank had paused the redundancies as coronavirus pandemic worsened

HSBC resumes plan to cut 35,000 jobs worldwide

HSBC Holdings PLC resumed plans to cut about 15% of its massive workforce after pausing layoffs because of the coronavirus pandemic.

HSBC resumes plan to cut 35,000 jobs

HSBC has resumed plans to cut 35,000 jobs and restructure its business, saying that the coronavirus pandemic has made the overhaul it announced earlier this year even more urgent.

HSBC resumes plan to slash 35,000 jobs

Employee union Unite said it will oppose any compulsory job losses within HSBC  and "work vigorously to ensure staff are heard and their jobs protected", after the bank dusted off plans to axe as many as 35,000 roles worldwide.

Employee union Unite says to oppose compulsory job losses at HSBC

Banking giant HSBC PLC HSBC, -0.65% [uk:hsba] is reviving a plan to cut 35,000 jobs.

HSBC sends memo to staff saying 35,000 jobs will go

HSBC  is resuming a massive redundancy plan it had put on ice following the outbreak of coronavirus, and will cut 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.

HSBC resumes cutting around 35,000 jobs: memo

Britain's Foreign Secretary Dominic Raab voiced a thinly veiled criticism of HSBC  on Monday after the bank backed China's national security law for Hong Kong, contradicting the British government's opposition to it.

HSBC gets veiled rebuke from UK government over Hong Kong

Secretary of State Mike Pompeo lashed out at British bank HSBC for backing the Chinese Communist Party’s efforts to crack down on Hong Kong’s autonomy. In a Tuesday statement, Pompeo slammed HSBC Asia-Pacific executive Peter Wong’s decision to sign a petition in support of Beijing’s law imposing security restrictions on Hong Kong.

Mike Pompeo rips HSBC for cozying up to China

HSBC is learning just how tough it is to please both China and the West.

HSBC is taking heat from all sides after backing China on Hong Kong

U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBC  for backing moves by China to end Hong Kong's autonomy, saying such "corporate kowtows" got little in return from Beijing.

Pompeo chides HSBC for 'corporate kowtow' to Beijing

British American Tobacco

The UK blue-chip FTSE 100 index remained under pressure on Tuesday as British American Tobacco (LON: BATS) lowered its full-year forecasts for profit and revenue. BAT posted a 3.1% intraday decline as it revealed a significant hit to its sales in recent months due to the Coronavirus lockdowns in its key markets like Mexico, South Africa, Vietnam, and Bangladesh.

FTSE 100 remains under pressure as BAT and HSBC slide on Tuesday

HSBC  said on Tuesday that it had lowered its year-end forecast on 10-year British government bond yields to 0%, given a small probability of negative interest rates and a sense that rates will stay low for a long period.

HSBC cuts year-end 10-year UK gilt yield forecast to 0%

HSBC Holdings Plc  Chairman Mark Tucker has warned Britain against a ban on networking equipment made by Huawei Technologies Co Ltd, claiming the bank could face reprisals in China, the Telegraph reported on Saturday.

HSBC warns it could face reprisals in China if UK bans Huawei equipment: the Telegraph

HSBC Holdings plc (NYSE: HSBC) has publicly backed China's controversial national security law for semi-autonomous city Hong Kong, Reuters reported Wednesday.

HSBC Backs China's New National Security Law For Hong Kong As It Seeks Stability In Key Market

Two of Hong Kong's biggest retail banks are backing a controversial national security law that would drastically broaden China's power over the financial hub.

Two of Hong Kong's biggest banks publicly support national security law

Hong Kong shares of HSBC and Standard Chartered rose on Thursday after the banks backed China's national security law for the city, allaying worries about their businesses getting hurt by any potential political crossfire in their largest market.

HSBC, StanChart shares rise as support for China law eases Hong Kong impact worries

HSBC Holdings (HSBC) poised to take control of German unit by buying the remaining stake.

HSBC Intends to Acquire Remaining Stake of German Division

To cope with the economic fallout of the pandemic, the board of HSBC wants executives to deepen restructuring efforts, which may include further job cuts.

HSBC Board Pressures Executives to Deepen Restructuring

HSBC Holdings PLC  expects to achieve double-digit asset growth in its newly combined wealth business in Asia Pacific in the next three years, as it looks to grab a bigger share of the growing rich population, the unit's regional head told Reuters.

HSBC sees double-digit wealth asset growth in Asia by 2023

Banking giants like Citigroup (C), HSBC and others try to speed up the pace of their digital offerings amid the current crisis to ward-off competition from digital startups in Asia.

HSBC & Others Accelerate Digital Push Amid Coronavirus Scare

Europe's biggest bank, HSBC  has cut already bleak global growth forecasts even further, as lockdown restrictions extended through April and tentative economic re-openings drag on a return to business, trade and spending.

Coronavirus forces HSBC to cut global growth forecasts, again

HSBC enters a deal to acquire the remaining 50% equity interest in its life insurance joint venture in China.

HSBC Agrees to Buy Remaining Stake in China Life Insurance JV

HSBC Holdings PLC  said on Monday its insurance unit had agreed to acquire its China life insurance venture partner's 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.

News for HSBC Holdings Stock (HSBC)