All quotes about HSBC Bank
Multiple people spoke about HSBC Bank in the news. We gather all their quotes on this page, an easy way to see all views about this topic at a glance. To go deeper, all quotes are redirected to the article from which they come. Stuart Gulliver is the person who had the greatest number of quotes. The most recent one of them is: “It's quite normal for a bank of our size and scale with 37 million customers to find among them instances of money laundering that we have self-identified or the regulator has identified.”.
All quotes about HSBC Bank
More than 40 percent of the head office roles we are moving from London to Birmingham are now accounted for and we're recruiting internally and externally for the remaining roles.
Can the minister give us some more specific details about what steps are being taken to address this scandal and can we have the assurance there will be the potential of opening up criminal proceedings to break up what is effectively a criminal netw[...]
The greatest challenges are in those countries where there is a perfect storm of stagnating salaries and rising house prices – for millennials in those countries, the dream, while not dead, looks set to be deferred.
With four in ten already owning their home, the dream of home ownership for millennials is definitely alive and kicking.
The bonus pool is down and performance is up. So that should be a good thing for our shareholders.
One of the main drivers is the 'juniorisation' of the trading floor and some headcount reductions early in the year.
The bank is a shining example of how the decline in sterling has bumped up the price of some of the UK's largest companies, without much progress in underlying profits. Despite an underwhelming set of full year results, HSBC is making progress in de[...]
The concern with HSBC is possibly the slowdown in trade around the world, that's bad news for banking profitability but I think in the case of HSBC the intra-regional trade, particularly in Asia, could offset that; so the company said today that the[...]
We are investing over $2 billion in digital transformation initiatives to improve our offer to customers, and are instigating a further $1 billion buy-back program reflecting the strength and flexibility of our balance sheet.
The Group has improved its productivity, embraced technological change and continues to reinforce its standards of business conduct. It has a strong capital position and is gaining market share in important areas.
2016 will be long remembered for its significant and largely unexpected economic and political events. These foreshadowed changes to the established geopolitical and economic relationships that have defined interactions within developed economies an[...]
HSBC is the first of several major UK banks to report this week, and given this morning's miss there will likely be greater levels of caution heading into Lloyds, Barclays and RBS's results in the coming days.
My problem is I don't know what is going on down in Washington. We're in an extremely volatile situation in terms of immigration. We just don't know.
There is every reason to expect a significant boost for affordable housing in the upcoming budget.
The slow rate of implementation of the policy, coupled with the destruction of homes makes the housing for all target seem improbable at this stage. Just giving cheaper loans is not going to solve the problem. What we also need is increased allocati[...]
The market's concern with regard to monetary policy independence is negatively affecting lira today. After President Erdogan's comments, the market may further question the effectiveness of the CBRT's liquidity and swap operations on the lira.
Some of the historical issuance of TLAC does not fully comply with certain conditions/criteria that are drafted in the legislation. Issuers are hoping that, like the US banks, they will get some relief. However, there are technical hurdles given the[...]
Raising interest rates influences the exchange rate and inflation in a negative way.
For those banks that already have meaningful amounts of debt outstanding that do not comply with the draft European rules, a favourable grandfathering arrangement like that implemented by the US Fed will be crucial. Investors would of course prefer [...]
This marks the end of our branch restructuring programme. We now feel we have the right branch network that complements the other ways in which customers now choose to interact with us.
We're not moving this year and maybe not even next year. We will move in about two years time when Brexit becomes effective.
Francois Fillon has the best answers for the challenges we face: security, solidarity, competitiveness, education and innovation.
For a region highly reliant on credit growth, the resulting tightening of financial conditions is a challenge...one that may grow over the coming year.
Inflation is in single digits, the twin deficits are under control and foreign exchange reserves are at comfortable levels.
It appears unlikely that exports will make a sustained recovery this year, or take over as a growth driver at a time when domestic demand continues to slow. Protectionist sentiment is strengthening, not just in the U.S. but elsewhere as well, raisin[...]
India is likely to witness two big 'reforms' over the year - the play-out of the demonetization drive and the implementation of the Goods and Services Tax (GST) bill. The hope is that both of these are followed up by necessary actions, which are cri[...]
HSBC's foray into the PRD is not a choice but a necessity to stay relevant as Hong Kong connects with the mainland.
The June update... was prior to changing views on where the renminbi would be, and China's GDP has slowed, so all we are saying is the redeployment will take longer.
"Clearly you would need to move the front part of the business,". "The question would be whether the negotiation would allow the middle and back office, the settlement, the risk management, the accounting and so on to be done out of the EU 27.".
That resulted in commercial pressure on our business.
"After 10 years of putting it in place it would in my view, be seen with hindsight, as one of the worst actions that could have ever taken place,"
The economic system (in London) is like a Jenga tower. You don't know what will happen if you pull pieces out. There are two risks to jobs. One is we move the jobs, the other is the jobs are simply eliminated because the market opportunity [in Europ[...]
Political speeches come and go throughout the year with most having a very limited effect on markets. But when it comes to Brexit and a speech from Theresa May, the impact can be marked.
We aim to boost private sector participation in providing educational buildings, which is a model implemented worldwide. This will minimise government burdens, as the private sector will take over building, maintenance and operation.
To some degree, I believe this too. We have seen pretty strong economic data of late, for example upwardly revised GDP (gross domestic product) and 17-month highs for the services sector, so you probably would expect that to support sterling but it [...]
The likelihood of messy politics at the start of the Brexit negotiations – likely mid-2017 – will keep the pound down versus the dollar and on a trade-weighted basis during 2017. Cable could easily end 2017 below 1.20. Remember, markets hate uncerta[...]
There has been quite a bit of anxiety and speculation because the way many people in China talk about it is 'will the government defend the 7-per-dollar level or the 3 trillion dollar.
"Chinese officials have few policy options,". "If they allow faster depreciation, this will only spur pressures for greater outflows. And a one-off devaluation risks a repeat of the market turbulence evidenced twice in the past 18 months".
It doesn't matter if there are actually enough reserves or not.
Previously, capital controls had been relatively loose and authorities had turned a blind eye to individual forex purchases because of abundant foreign exchange reserves. But they are now strengthening supervision in order to change expectations.
Chinese officials have few policy options. If they allow faster depreciation, this will only spur pressures for greater outflows. And a one-off devaluation risks a repeat of the market turbulence evidenced twice in the past 18 months.
"It doesn't matter if there's actually enough reserves or not,"
It is not a massive new reason to sell cable and was probably offset by the positive economic data we got yesterday. But the gains in the past few hours are really just a dollar move.
According to our survey, Europe is home to some of the best destinations for a successful expat career. Six European countries have made their way into the top 10 and are recognized for their strong work culture, great work-life balance and relative[...]
What's clear in our survey, is that working abroad offers a wealth of opportunities to suit many different career needs and personal priorities. Some expats are looking for an accelerated route to the top of the career ladder, some want to put thems[...]
If you've got the Fed, who've (hypothetically) raised another two times and then you've got the European Central Bank still sort of just finished its QE programme, you've got the Bank of Japan still doing whatever they're doing, it becomes very, ver[...]
We're sort of, of the view that the Fed is constrained by not just its own inflation outlook, it's constrained by wage growth but it's also constrained by the rest of the world. And actually if you're in a world where as the Fed sort of continues to[...]
The target customer will be those (that) are high-end, high-tech start-ups and enterprises … those enterprises that are upgrading the use of technology and ability to innovate like for example using robotics to manufacture more efficiently.
The target customer will be those (that) are high-end, high- tech start-ups and enterprises... those enterprises that are upgrading the use of technology and ability to innovate, like, for example, using robotics to manufacture more efficiently.
The world believes all of a sudden in 'Trumpflation' and there's nothing to stop them - there's a religious belief in it.
The market's in the mood that everything good he has said he will achieve and everything bad he has said won't happen. When you get a market in that sort of mood, in a market that has faith, you can't stand inits way because you can't stand in the w[...]
Today's final decision sends a clear message: banks, like all companies, have to respect EU competition rules.
It's the first time that we are working with a sovereign and have found a way of linking a government balance sheet with the ICMA Green Bond Principles.
While we have been cautious for quite a while on the stock as we saw too much enthusiasm and were even scolded by many investors when we downgraded our rating to Hold 18 months ago, sentiment has turned in a very quick manner recently with caution o[...]
(Price pressure) likely reflects currency moves and the bounce in commodity prices. That can't be good for margins. And at time when financial conditions are tightening, this is bound to weigh on investment.
Price inflation, rather than a structural improvement, seems to be the main reason behind the recent recovery of the economy in general. The economy may remain stable in the fourth quarter, but it will still face significant downward pressure next y[...]
That's exactly what he did at HSBC Champions, and it was not much to do at that time. And possibly, that could be the same tomorrow. I'll just try to focus on my game and we'll see where it takes us.
We will table a modification saying that for banks, whose corporate loan stock increase exceeds a given percentage, we see a possibility of foregoing part of the financial transaction tax.
This is a good opportunity to buy those stocks that you've already been accumulating for the last 1-2 years: those same stocks are now available at a cheaper valuation. Nothing has fundamentally occurred to change the long-term growth prospects of e[...]
We're obviously hopeful the banks will take a more lenient view, given this is really a systemic issue.
If the financiers support the industry, I think things will be fine, but if somebody takes a very hard-line view then you'll start seeing things trip up.
We ... are committed to act in order to pipe gas from Leviathan to the Israeli market and for export already in late 2019. The Leviathan project is taking a significant step forward today.
We assume that growth for these components (will) halve on the back of the monetary shock.
We still think there is a strong weakness in sterling even though it is relatively lower because the political outlook in the UK is very challenging.
You need to be selective in terms of your currency choices. I don't think it's a dollar bull run against everything but I do think if you look at the outlook for emerging market currencies, particularly the high-yield currencies at the moment, it is[...]
In G10, everything is driven by politics. We used to think about economics and cyclical stories and structural stories and balance of payments etc but now all we care about is politics.
If you think the euro zone is going to break up then by all means sell the euro.
Australia is a priority growth market for HSBC, and having a private bank office here will complement and enhance our existing retail, commercial and investment banking businesses.
If we step away from policy uncertainties, the strength of the Asian consumer still remains.
These sorts of factors are much longer-term and playing out in a much more secular way.
Look out below. Trump's election victory will come as a shock to equity markets which had shown few signs of pre-election concerns, until very recently. We believe it is a clear risk-off event, as it is likely to result in a significant departure fr[...]
I think the view is that the investors wanted to see an outside chairman. I think if you did it the other way around you wouldn't satisfy those governance concerns around the fact that we have always had an internal chairman, because the internal ch[...]
If you look at the underlying numbers, actually those showed that if you strip out the one-off items, revenues were up, costs were down and profits were up, and those are three things that markets like.
Our third-quarter performance reflected the strength of our network and the deepening impact of our strategic actions. Our global universal banking model generated higher adjusted revenue than for the same period last year, and our cost reduction pr[...]
This is another action forming part of our ongoing capital management of the group that reinforces our ability to support the dividend, to invest in the business and, over the medium term, to contemplate share buy-backs, as appropriate. It also prov[...]
US DOJ investigation into alleged US generic drug price collusion creates significant uncertainty. We have no view as to the merits of the DOJ investigation, whether there is a case to answer for Teva or any other generics company, or whether Teva w[...]
Both Indonesia and India stand out within the region of Asia.
We are thrilled to have secured Clara as chairman of the HSBC UK Board. She brings unrivalled knowledge of the UK's financial markets, systems and regulatory architecture.
The Committee has benefited greatly from Clara's expertise in banking and financial markets and from her unique insights as a market practitioner.
There is no date selected yet for the offering.
Always nice to start with 7 under, doesn't matter where you're at. Pleased with that. Felt good in the Pro-Am yesterday and the nine holes that we got to play. I knew with the soft conditions, they were going to try to tuck some pins. It was going t[...]
For me, finding a way to get a win in a singles match was big. It's a team victory, but I felt like I did my part to help the team. Coming out of that with a 2-1 record instead of 1-2 was important to me.
It felt amazing, every part of the game. Everything was so easy. It was just one of those days, a walk in the park.
We don't think the move in the fix was notable when you look at it in context to the offshore market. It's still around the 6.70 area; it hasn't aggressively broken through.
All told, it still looks like the Turkish economy slowed substantially following the attempted military coup.
It's obviously trading as the barometer for the presidential election. The pressure has been on Trump in the past few days and that's coincided with a move down in dollar/Mexico.
The bigger picture is that growth weakened over the first two months of Q3 and September's manufacturing PMI suggests that activity remained sluggish at the end of the quarter. All told, it still looks like the Turkish economy slowed substantially f[...]
This is a welcome amendment. But world trade remains very weak. And there are new risks - for instance that of a hard Brexit.
The light is green for the German economy to thrust into growth in the second half of the year. The overall growth rate in 2016 could come in better than expected.
The economy in China has stabilized. This is good for producers of capital goods.
...Data privacy and bank secrecy restrictions are increasingly tough in a number of countries.
First is the continued development and expansion of a middle class in many countries, which previously were mired in the low income strata a few years ago.
In this business cycle, economic growth has been muted but wealth creation continues to advance.
In the long-term, emerging markets continue to provide superior growth prospects, good demographics and increasing use of modern technologies, which should boost productivity.
The emerging market world suffered in the past few years as the U.S. dollar's strength sent emerging market currencies and commodity prices tumbling. Therefore the potential of a flat to falling dollar offers hope to investors that emerging markets [...]
While we would like to see returns increase, or failing that redeployment of capital into markets outside the U.S., it is for the company to best decide how to achieve this and how to manage its relationship with local regulators.
Any return of capital would always be subject to receiving a non-objection from the Federal Reserve.
The issue is a valid one, as it appears that the capital in the USA is earning low returns. As shareholders we are concerned about where companies deploy capital and what the long term returns on that capital are.
From time to time the market gets worried about an earlier move from the Fed so it has an impact but we have to trade through the noise.
For real-money investors buying the disinflation story, this is a good thing. It's additional confirmation the central bank has become one of the most credible stories in emerging markets.
The environment is and will remain supportive for emerging assets.
You don't move nuclear waste in a race.
Micro policies at the local level are expected to be implemented to help grow sales in these cities, but a broad policy by the central government to encourage that is unlikely.
Rises in property prices have initially been contained.
A property investment rebound means it will continue to contribute positively to gross domestic product this year, albeit probably not as significantly as seen in the first half.
I think we probably have but it's because we've been a bit distracted. The industry pretty much failed and then we've been in remediation mode and fix mode ever since.
It feels like our industry has woken up to the possibilities of new technology really in the last three or four years. If there hadn't been a crisis, I'm sure we would all have started thinking about it a lot earlier.
I don't think any of us really know. Everything is uncertain.
I think there's an awful lot of scope for collaboration.
There's mutual respect on both sides. If you look at smaller fintech firms, you can see that banks are partnering with them and that benefits both stakeholders' needs.
We partner with Apple (AAPL.O) in every market that they want to be in. They've provided a technology platform and payment experience which our customers want. They extract a rent from us but we can do more business.
Nonetheless, the size of the pick-up suggests that there may also have been some improvement in import volumes last month which would add to recent positive signs on domestic demand, including better-than-expected PMI readings.
The improvement in imports is mostly a reflection of stronger domestic demand. Chinese companies are restocking (raw materials), and also are now expecting prices to start rising.
I think the whole biometric space is a great way of protecting yourself when you are doing payments.
The two manufacturing gauges again pointed to different directions in August. But on a moving average basis, both indicators suggest that economic activity is still improving, supported by fiscal expansion.
It's no secret that candidates spend quite a bit during the elections in the form of political ads, rallies, and events ... Many government offices also tend to front-load a lot of their expenditures early in the year prior to the election ban.
This particularly strong growth rate was a result of the high infrastructure spending and strong domestic demand that benefited from election-related spill overs. But this kind of growth rates can't be maintained.
The HSBC's brand, particularly 'the world's local bank' and its strapline was an incredibly powerful positioning for us. (However), the reality of our business is that we have to simplify it, so taking out quite a lot of small countries meant we pro[...]
We've lost our way so we look to central banks, who give us massively loose monetary policy and that's the little bubble we're living in.
They've completely failed us and the market doesn't believe them.
All markets are running – that's what happens when you have ultra-loose monetary policy and the central banks are handing over money. QE distorts markets completely.
No matter how you look at it, the economy is slowing. The economic trend is clear. It is not pretty.
All of the risks are to the downside.
QE is a real game-changer and investors simply can't run the risk of running underweights in sterling credit.
Right now, funding levels in sterling are pretty compelling for issuers that swap the funds back to euros or US dollars, and even for those that keep the funds in sterling.
We're pretty cautious on global equities including the U.S.. You have economic policy uncertainty, which is really high around the world.
This reflects the decision by management to return half of the capital gain generated from the disposal of the group's Brazilian operations ... (but it) has dropped its progressive dividend policy.
Earnings have not been too bad, but I remain bearish on the markets. A lot of companies in Europe are beating estimates, but if you look at the results, most of the companies are not actually growing their sales or profits.
European results look quite poor compared to the U.S, which is why a lot of investors are still taking their cash out of Europe.
Obtaining the list is one of the most significant outcomes of our struggle against dark capital, and it joins our legislative and other efforts for getting information on Israelis that are holding bank accounts and assets abroad.
Following an information request in April 2016 from US authorities to the Swiss Federal Tax Administration (SFTA), the bank has provided certain files, mostly related to former clients, to the SFTA. The Swiss authorities may forward part or all of t[...]
Valuations are becoming even more stretched relative to fundamentals than they were, and that's not a particularly healthy place to be.
When investors realize just how far they are pushing things, they might want to rethink things.
I do think that the messages from the RBNZ have been a bit more challenging. The RBNZ is between a rock and a hard place at the moment.
RBNZ's scattergun approach to forward guidance since the hawkish July 7 Spencer speech has not sat well to date.
For some, (retirement) is about discipline with some wanting to prioritize outgoings versus incomings and make choices about how they spend their assets. For others it's far more challenging – income levels may not give them the [flexibility] to do [...]
Many people, particularly those in their forties are supporting others such as their children and their parents. So people see that and experience that, and there's a recognition there, that they need to take a more active role in planning for retir[...]
The end result will be poor prospects for getting government spending and the budget deficit under control over the next three years and for the Coalition implementing its policy to cut corporate taxes, let alone undertaking serious productivity enh[...]
The longer the Fed is seen as delaying a rate hike, the better for gold.
Central banks around the world, especially the Japanese, are sitting on their hands waiting to see how global developments over the next week or two are going to unfold.
The fundamental case for additional BOJ easing remains strong. In our view, the longer the board waits to address downside risks to the economy and prices, the more markets will question the central bank's commitment towards its inflation target.
As far as the geopolitical element, it's certainly not a chicken little atmosphere. I think there's enough uncertainty facing the global economy and even some geopolitical tensions to keep buying the gold market.
Basically, the rally has been entirely investment led. It's kind of like having a table with a leg missing. It's heavily investment led. I'd feel better with a longer-term rally if we had a physical component. It does present upside roadblocks furth[...]
Gold is a bit lower as the dollar is doing (better), especially versus the euro. We need to get the FOMC meeting behind us. I think afterwards markets will further price out the Fed, meaning gold and precious metals will go higher.
The fact here is just a vote on Brexit, whether it succeeds or not, is not a good sign for the European Union.
We are up to the task, we have done our homework.
This deal is important because it adds 60 basis points to HSBC's capital strength which gets them to their target and means they can maintain the dividend in a weak year for earnings.
It's not simply weak demand that's weighing on Asian trade, but structural, and thus far more persistent, factors. A recovery in the West, therefore, may not lift exports by as much as in previous decades. The relationship has changed.
The further strengthening of the exchange rate suggests that the drag from falling export prices should persist for now...All in all, therefore, today's figures underline that the BoJ still has more work to do to reach its 2 percent inflation target.
For almost a year staff have been left in the dark about their futures, only to be told that before being shown the door they're expected to train someone in India or China who will do their job for less money. It's a deeply cynical move. Offshoring[...]
We'll be pretty busy every quarter from now through to the end of 2018 in terms of making sure we make that regulatory requirement from a TLAC perspective.
On top of that (maturing debt) we have somewhere in the range of US$10 billion to US$30 billion to do to meet the overall TLAC requirement as we presently understand it and in conversation with our regulators.
"The bank closures will accelerate the death of the British high street". "This will particularly have a knock on impact on local businesses and the elderly".
Progressive' was interpreted by everyone as meaning it is going to go up every quarter notwithstanding what is happening in the world, so what we are saying is we are committed to sustain the dividend at the current level.
Our plans haven't changed in China… but we are saying the redeployment of capital will take longer.
China's slower economic growth will undoubtedly contribute to a bumpier financial environment, but it is still expected to be the largest contributor to global growth as its economy transitions to higher added-value manufacturing and services and be[...]
There is a lot to do to achieve our targets but we have made a good start.
China's slower economic growth will undoubtedly contribute to a bumpier financial environment, but it is still expected to be the largest contributor to global growth as its economy transitions to higher added value manufacturing and services and be[...]
We had reasonably good data out of Asia which are supporting markets in Europe this morning but the political front in the region has become more uncertain.
HSBC has received various requests for information and is cooperating with the U.S. Securities and Exchange Commission investigation. It would be inappropriate to comment further.
HSBC has received various requests for information and is cooperating with the U.S. Securities and Exchange Commission (SEC) investigation. It would be inappropriate to comment further.
China retains the fiscal and monetary tools to cushion the impact in the short-term. Further easing measures and the relaxation of controls on spending will certainly help.
The board's got big questions to answer; I mean, should HSBC split up? ... You're probably not going to get that decision from an insider who believes in continuity.
A bear market across multiple risky assets will be positive for high-quality government bonds, inclusive of gilts. In a developed market context, gilt yields still stand out. It does seem as though we have entered a period of structurally lower infl[...]
There has to be one set of rules for everyone, no matter how rich or how powerful, and that includes lenders who engage in abusive business practices.
This case implicates matters of great public concern and is therefore one which the public has an interest in overseeing.
We regret this decision and are considering our next steps.
You're better issuing (debt) out of a higher tax jurisdiction than a lower tax jurisdiction.
Major producers are currently delivering 2.0 to 2.5 million bpd more than demand, so the question is how long they can continue to overproduce at that level.
Barely six months after the last glitch in their underperforming IT systems, HSBC is apologising again to its customers. The frequency of these failures across the financial services sector suggests a systemic weakness in IT infrastructure. This is [...]
When you think about how little hiking has been priced in and, to some degree, even (rate) cuts, then is another bit of softer data really going to make a huge difference? The bias of the market is already short sterling and is already looking for t[...]
If there is one thing we can be sure about, consensus bond yield forecasts are unlikely to be right. This follows decades of over-optimism bias and, while history is no guide to the future, it does provide grounds for scepticism.
The euro rates market sell-off after the ECB's underwhelming December easing is a chilling reminder that, without incremental central bank easing, bond valuations are unsustainably poor. Treasury valuations are also unsustainable, especially in an e[...]
Looking beyond the widely anticipated start of U.S. tightening, we wonder what will happen if the rate hikes do not stick.
The bank closures will accelerate the death of the British high street. This will particularly have a knock on impact on local businesses and the elderly.
It (the job cuts) is really unlikely to be an answer to their problems. The (HSBC) share price has been dead for several years now. And I think what the market is looking for is something pretty substantial, a new strategy.
We know that under any circumstances it's going to be a very big disruption. There will undoubtedly be some sort of investment pause.
It would not be easy to go very far.
We do not condone structures for tax avoidance. Whenever there is a structure with a third party beneficiary we insist to know the identity of that beneficiary.
The allegations are historical, in some cases dating back 20 years, predating our significant, well-publicized reforms implemented over the last few years.
We as a company, as a bank only encourage the use of structures when there is a legitimate economic purpose.
We are pleased to have reached this settlement and believe it is a positive result that benefits American homeowners and the US housing industry. Throughout the housing market downturn, HSBC stayed focused on home preservation and approached foreclo[...]
We are pleased to have reached this settlement and believe it is a positive result that benefits American homeowners and the US housing industry.
The frequency of these failures across the financial services sector suggests a systemic weakness in IT infrastructure. This is concerning. I will be asking the Chief Executive of HSBC, and the regulators, for an explanation of these failures, and a[...]
We will ensure customers do not lose out as a result of this issue. Any fees customers incur as a result of this outage will be waived.
All tax evasion, even old ones, will one day be uncovered. That's the way it is, truth will always prevail. To me, this shows very clearly that the topic of tax evasion, no matter where, is being addressed. There will be more revelations but it's cl[...]
There's no doubt that if they were undertaking these transactions then other banks were also. Given the fact that this is an update on old news, then I don't see much material impact.
The rise in the bond yields and the weakness in the U.S. sector is hurting the UK utilities.
The report undoubtedly caused considerable reputational damage to HSBC. The extent to which that has resulted in loss of business is hard to measure, but it has undoubtedly damaged our brand.
Trade between Africa and China has been growing very rapidly, and HSBC doesn't have the same presence there as Standard Chartered, which makes this buy especially crucial if it wants to continue expanding there.
There is no longer a viable consumer lending product, therefore HSBC Finance has announced today that it will cease to write new consumer finance business through the HFC and Beneficial brands in the USA. It will close most of its HFC and Beneficial[...]
Investors have been sceptical about our ability to get our hands around HSBC. The scepticism was about anybody's ability to move such a large firm and change its direction.
I think as far as the fiscal issues are concerned it is coverable. I think reputationally speaking, though… this might take a bit of time to get that reputation back.
But we can be hopeful that the picture will change for the better in coming months. Leading indicators in industrial states – from the United States to Britain and the euro zone states – are pointing upwards.
We must get off on the right foot from next week. You've seen over the last few days, the market situation was very difficult, we wil see with different players if they can take initiatives. If so, the government is ready to go.
Well, it is quite a big amount, certainly. It means it's taking away one quarter of HSBC's profit, so they will have to cut dividend and cut costs to get that back, but it won't cripple the bank and that is the main point.
Yes, we signed a double tax agreement with France. At that time it was apparently already known that the French government had received illegal data. These circumstances have to be clarified thoroughly now. Before it becomes clear what really happen[...]
Not only will we do this in Britain – 250 billion guaranteed – but I talked to my European colleagues over the last few days and I have hopes this can become a wider scheme that other countries will take up, and I hope that we will show that we have[...]
We are pleased that the measures that are under our control, we are getting some serious traction on.
This, plus ongoing property market corrections, adds to calls for more aggressive action on fiscal and monetary fronts to stabilise growth and jobs, especially with prices easing rapidly.
The plan hasn't changed. We are eagerly awaiting the arrival of security guards and police. We'll be here waiting for them.
It's estimated they (the hedge funds) control 30% to 40% of the LSE shares, either through derivatives or owning the shares. So really the dialogue is now open between Nasdaq and those shareholders. Nasdaq really needs to persuade them that this 1,2[...]
That average is what drives the interest rates paid by hundreds of millions of people on their own mortgages, small business on their loans, student loans, insurance products. It affects a hugely diverse range of financial transactions globally, not[...]
Gross domestic product will likely grow slightly stronger in the first quarter than at the end of 2013.
If you discover that the layers of trusts and offshore accounts allow people to avoid paying tax or VAT and you understand that is what they are there for, what they are meant for, what do you do? Either you bury your head in the sand or you try to [...]
Any stepping back would be like an admission of failure, so it's a political issue.
We and every other government in the world send out a clear message, that we will stabilise the position. We will help banks restructure so that they can rebuild their strength, and also do everything we can, whatever it takes, to ensure that we get[...]
Despite the economic dip, the labour market is not suffering a breakdown.
We will do everything in our power to maintain our public services and increase jobs in our economy, to protect the savings and deposits of the citizens of this country.
We clearly have a cost problem.
Once the economy improves in the course of the year, unemployment too is likely to fall again with a delay.
Good strong banks are essential for every family and for every business in the country and extraordinary times call for the bold and far reaching solutions that the Treasury has announced today. The problems that started in America have now hurt eve[...]
There's a whole series of things that came from probably a decade in the 2000 to 2008-09 period that have surfaced now that the industry needs to sort out, remediate, and make sure doesn't happen again. It will take a chunk of time to clean the syst[...]