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HSBC will phase out fixed-pay allowances for its senior staff and instead hand out a greater proportion of its compensation in the form of bonuses, becoming the latest UK lender to switch to Wall Street-style remuneration to better align with performance. Bloomberg's finance reporter, Harry Wilson, reports on The Pulse. (Source: Bloomberg)
As Hong Kong and Singapore compete for leadership in businesses ranging from foreign exchange trading to wealth management, the battleground has extended to artificial intelligence, with both cities vying to attract investment from HSBC Holdings and other major corporations, according to industry players. The issue came into focus after the Hong Kong Monetary Authority (HKMA) questioned HSBC about its decision to set up an AI centre in Singapore, despite Hong Kong being its single largest...
HSBC on Wednesday named its stablecoin offering HSBC RedCoin, paving the way for Hong Kong’s biggest lender to make the coin available to the more than 3.3 million users of its PayMe app for money transfers, shopping and dining. When launched before the end of the year, the stablecoin would be offered only through PayMe and HSBC’s Hong Kong mobile banking app, HSBC said. The bank said it was optimistic about retail usage of HSBC RedCoin, as 74 per cent of respondents to a survey of more than...
HSBC Holdings Plc is aiming to challenge India’s private-sector banks, betting that the country’s swelling pool of affluent customers and globally connected citizens can fuel its next phase of growth as it pushes deeper into smaller cities.
“We don’t think the dollar will knock it out of the park,” says Daragh Maher, senior FX strategist at HSBC, as he discusses the “ambiguous relationship” he sees between the US dollar and Treasury yields. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
Max Kettner, chief multi-asset strategist at HSBC Bank, says equity markets have ‘100%’ discounted higher interest rates from here and points to the global strength in earnings supporting stocks. (Source: Bloomberg)
Key Facts — What happened. HSBC cut Banco Santander Brasil to Hold from Buy on Monday, citing future liquidity concerns. — How big. HSBC cut its price target 14%, to R$31 (US$6.03) from R$36 (US$7.00). — The catch. The downgrade is not about weak earnings; it is about a Spanish parent-company buyout draining the stock’s […] The post HSBC Downgrades Banco Santander Brasil on Liquidity Concerns appeared first on The Rio Times.
Scores of Hongkongers have complained about unauthorised transactions on credit cards used to pre-order Apple’s latest iPhones, prompting HSBC and Hang Seng Bank to launch investigations. One internet user on the social media platform Threads said she received a message on Saturday night saying she had unauthorised transactions of HK$33,598 (US$4,280) from Apple on her HSBC credit card. “When I called Apple customer service, they hung up on me immediately. What should I do?” she asked. It took...