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HONG KONG , China (AFP) — HSBC’s net profit was down 18 percent at $4.3 billion in the first quarter, the bank said Tuesday, affected by “extreme levels” of market volatility early in the year. “Our first quarter performance was resilient in tough market conditions that affected the entire banking sector,” said group chief executive Stuart Gulliver. Falling oil prices and fears over China’s economic slowdown contributed to a stocks rout in Asia early 2016 […]
(Reuters) HSBC will shed almost 50,000 jobs and take an ax to its investment bank, cutting the assets of Europe’s biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The bank said on Tuesday (June 9) about half the staff cuts will come from the sale of businesses in Brazil and Turkey. The other half will come from cutting about 10 percent of the remaining 233,000 staff by consolidating […]
LONDON Sat Feb 22, 2014 11:46am EST (Reuters) – HSBC will announce staff bonuses totaling just under 2.4 billion pounds ($4 billion) globally for 2013 and is expected to report a significant rise in pretax profit, Sky News reported on its website on Saturday without citing its sources. Referring to an unnamed source close to the bank, Sky also said Chief Executive Stuart Gulliver will receive a 1.8 million pound bonus as part of an […]
