HSBC Sets Aside $3B for Virus Loan Losses
“We are anticipating deep, severe recession events in western Europe and the U.S. in the second quarter."
HSBC Announces Overhaul Amid Profit Drop
The company plans to cut 35,000 jobs and shed $100 billion in assets.
Evolving Finance to Support Innovation
Many finance organizations have made big strides in supporting enterprise innovation, but others are still in the nascent stages of embracing the change.
HSBC to Pay $765M in Toxic RMBS Settlement
The Department of Justice says bank employees ignored the warnings of its primary due diligence vendor about the quality of loans underlying its RMBS.
HSBC Claims Blockchain Breakthrough for Trade
The U.K. bank says a shipment of soybeans for Cargill was completed in only two days using the blockchain instead of paper-based documentation.
Banks Take on the Fintechs
Innovating on digital capabilities enables banks to create more efficient business models.
HSBC Profits Fall 29% But Stock Climbs 4.8%
Europe's largest bank soothed investors by announcing a share buyback of up to $2.5 billion in the second half of this year.
Deutsche Bank Criticized by IMF, Fed
Deutsche Bank 'is one of the most important net contributors to systemic risks in the global banking system,' the IMF said.
HSBC To Slash Up to 25,000 Jobs, Sell Units in Turkey, Brazil
Moves accompanied by plans to ratchet up presence in Asia.
HSBC Boss Sees No ‘Drastic’ Outcome for U.S. Units
CEO Stuart Gulliver says Europe's largest bank still relies heavily on its U.S. business, despite recent poor returns.
France Steps Up Probe of HSBC in Tax Evasion Case
The case, about the bank allegedly helping wealthy clients commit tax fraus, is upgraded to a formal criminal investigation.