HSBC announces new terms for sale of French retail business
14th Jun 2023 16:15
(Sharecast News) - HSBC announced new potential terms for the sale of its French retail banking business on Wednesday that might mean the deal with Cerberus-backed My Money Group can go ahead after all.
Read moreHSBC to wind down New Zealand wealth and personal banking business
13th Jun 2023 09:31
(Sharecast News) - HSBC has decided to wind down its wealth and personal banking business in New Zealand.
Read moreSunday newspaper round-up: Bank of England, Sturgeon, Melrose
11th Jun 2023 14:36
(Sharecast News) - Experts believe that the Bank of England will have to jack up its base rate from 4.5% at present to 5.5% by the end of 2023 in order to tame stubbornly high inflation. It was that prospect that had already resulted in lenders and building societies to raise the cost of fixed-rate mortgages or to pull deals altogether, as HSBC did during the preceding week. Higher rates also have implications for the cost of servicing the country's debts, in turn eliminating the Chancellor's already limited headroom to push through tax cuts before the elections. - The Financial Mail on Sunday
Read moreFed's Waller sounds 'hawkish' note on outlook for rates
24th May 2023 18:06
(Sharecast News) - A top US central bank official said he could support a further 25 basis point interest rate hike at the 13-14 June policy meeting, depending on how the economic data came in between now and then.
Read moreFive banks said to have breached competition law in UK bond markets
24th May 2023 12:11
(Sharecast News) - Five global banks have been provisionally found to have broken UK competition law, it was announced on Wednesday, by allegedly sharing competitively sensitive bond market information.
Read moreDirector dealings: HSBC execs spend almost £0.5m, UKCP REIT director invests
17th May 2023 14:53
(Sharecast News) - HSBC was at the top of the list of director buys on Wednesday, after two of its executives purchased shares under its 2011 share plan.
Read moreHSBC shareholders vote down proposal to spin off Asian arm
5th May 2023 14:36
(Sharecast News) - HSBC shareholders rejected a proposal on Friday to split the business and spin off the Asian arm.
Read moreHSBC urges shareholders to vote against bank split
5th May 2023 12:42
(Sharecast News) - HSBC urged shareholders again on Friday to vote against resolutions backed by its biggest stakeholder, China's Ping An Asset Management, to split the business in two and spin off the Asian arm.
Read moreFed hikes 25bp, opens door to possibility of a pause
3rd May 2023 18:34
(Sharecast News) - The Federal Reserve hiked short-term official interest rates as expected, but left the door open to a pause in its tightening cycle.
Read moreBroker tips: HSBC, Hikma, Pearson
3rd May 2023 16:16
(Sharecast News) - Berenberg upgraded HSBC to 'buy' from 'hold' on Wednesday, keeping the price target at 780p, as it said the bank's return on tangible equity of around 13% and attractive growth potential are undervalued.
Read moreBerenberg upgrades HSBC to 'buy'
3rd May 2023 14:04
(Sharecast News) - Berenberg upgraded HSBC to 'buy' from 'hold' on Wednesday, keeping the price target at 780p, as it said the bank's return on tangible equity of around 13% and attractive growth potential are undervalued.
Read moreHSBC reinstates dividend as Q! profits treble
2nd May 2023 07:01
(Sharecast News) - HSBC reinstated its dividend and announced a new round of share buybacks as it trebled first-quarter profits on the back of rising interest rates.
Read moreSunday newspaper round-up: HSBC, North Sea, Capita
30th Apr 2023 14:43
(Sharecast News) - The heads of HSBC are facing a major public standoff with those of its shareholders who are keen to break up the lender. Those include its largest shareholder, Chinese insurer Ping An, which has been pushing for a spin off of its lucrative Asian business and which has redoubled its efforts in recent weeks. Ping An is expected to vote for two proposals from a group of angry Hong Kong retail investors calling for a regular strategy review and a higher dividend. - The Financial Mail on Sunday
Read moreSunday newspaper round-up: Inflation, National Grid, Rolls Royce
23rd Apr 2023 15:46
(Sharecast News) - Former Bank of England chief economist, Andy Haldane, believes that it is "pretty much nailed on" that inflation will halve over the next six months as energy price increases slow down. But in remarks to Sky News, Haldane cautioned that hikes in Bank Rate had yet to impact borrowing costs for many borrowers, especially those on fixed-rate mortgages. "The effects of the tightening so far haven't been fully felt. That would give me cause for pause. I'd think, hang on, the economy is still on unsteady legs right now. Much of the tightening that has already happened hasn't hit people's bank accounts. Perhaps now is the time to press the pause button and see what happens." - Guardian
Read moreHSBC's largest shareholder to back plans from activist investors - report
17th Apr 2023 14:21
(Sharecast News) - HSBC's largest shareholder is reportedly likely to give its backing to shareholder resolutions that would force the bank to provide regular updates on the structure of its Asian business and restore the dividend to its pre-Covid level.
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