HSBC seeks revamp with 35 000 staff cuts in CEO’s 'endgame'

2020-02-18 11:00

HSBC Holdings is set to slash about 35 000 of its workforce, and is taking $7.3bn of charges in its most dramatic overhaul under chairperson Mark Tucker.

HSBC to cut up to 10 000 jobs to slash costs, FT reports

2019-10-07 10:02

HSBC Holdings may eliminate as many as 10 000 jobs as part of a cost-cutting drive, according to a Financial Times report that signalled Europe may bear the brunt of the initiative.

WATCH: HSBC plans more China tech jobs in push for market share

2019-05-22 11:50

HSBC plans to add more than a 1 000 jobs this year at its technology development centres in China, as the Asia-focused lender seeks to bolster its presence in the world's second largest economy.

Nigeria fires back at HSBC after bank criticises President

2018-09-17 18:10

Nigeria has accused HSBC of money laundering after an analyst working for the lender said that a second term for President Muhammadu Buhari may stall economic recovery.

HSBC loan loss rise said to be tied to Steinhoff, Carillion

2018-02-20 22:00

HSBC is the latest global bank to take hits from the fallout of Steinhoff International and Carillion, says a source.

HSBC closes accounts linked to Guptas amid review

2017-11-20 15:02

HSBC, with the assistance of external investigators, is conducting a wide-ranging review of any possible involvement in suspicious transactions, people with knowledge of the matter said.

HSBC shuts down accounts linked to Gupta front companies - reports

2017-11-10 21:00

HSBC said on Friday that it “has been reviewing its exposure to the Guptas for some time, and has closed a number of accounts for associated front companies wherever we have found them”, according to reports by the Wall Street Journal, Reuters and Morningstar.

FBI probes US links to Guptas, UK urged to probe banks - reports

2017-10-19 07:35

The FBI has opened an investigation into US links to the Guptas, while the UK has asked financial enforcement agencies to probe possible ties between banks and the Guptas, the Financial Times has reported.

HSBC posts surprise profit gain as bank stems revenue drop

2017-05-04 09:32

HSBC has posted a surprise increase in first-quarter profit after CEO Stuart Gulliver stemmed the revenue decline that’s dogged his six-year tenure.

HSBC in talks over Lebanese unit sale amid cost cuts

2016-07-25 11:45

HSBC Holdings has been in talks with Lebanon’s Blom Bank SAL over the possible sale of its banking business in the country as the London-based lender cuts costs.


3 challenges ahead for investors - strategist

2019-11-10 18:45

There are three challenges facing investors going forward, HSBC chief market strategist at HSBC Private Bank tells Fin24.

WATCH: HSBC axes CEO after only 18 months on the job

2019-08-05 12:50

Europe's biggest bank HSBC ousts John Flint as chief executive officer in a shock move that the chairperson said was necessary to accelerate progress of its strategic priorities.

Reserve Bank fines HSBC for poor controls preventing money laundering, terrorism

2018-11-09 19:14

The SA Reserve Bank's Prudential Authority has disciplined HSBC Bank Johannesburg for weaknesses in its processes that prevent the bank from "proactively detecting potential money laundering and the financing of terrorism".

Ex-HSBC trader sentenced to 2 years, sent directly to prison

2018-04-27 06:45

Trader Mark Johnson, the first person to be convicted in a global crackdown on currency rigging, has been sentenced to two years in prison and was immediately taken into custody.

Corrupt individuals will be 'hunted down' under Ramaphosa rule - Peter Hain

2018-02-15 20:33

South African-born British peer, Lord Peter Hain, believes the writing is on the wall for corrupt individuals now that President Cyril Ramaphosa is in charge.

HSBC 'ignored' Gupta warnings - Hain

2017-11-17 07:39

Lord Peter Hain says SA staff at global bank HSBC warned its London HQ of illegal transactions related to the controversial South China Rail-Transnet locomotive deal, but were “ignored”.

Lord Hain seeks criminal probe of HSBC’s relationship with Guptas

2017-11-01 20:41

HSBC is the unnamed bank that is the focus of a senior British lawmaker’s demand for a criminal probe into a relationship with the Gupta family, according to two people with knowledge of the allegations.

Zuma turmoil makes it a good time to buy - HSBC

2017-05-31 07:09

While some stock investors may choose to flee SA as political turmoil engulfs President Jacob Zuma, HSBC analysts argue the noise makes it a good time to buy.

Everything you thought you knew about bond yields is wrong: HSBC

2017-02-01 12:11

HSBC analysts have challenged the belief that the fundamental forces of economic growth, state spending, inflation and central bank guidance propel government debt yields.

Another Belvedere victim: Invested in Kijani, cheated out of life’s savings

2016-07-25 06:49

A Biznews community member's desperate plea illustrates a very important lesson: when dealing with investment advisors, be very careful.

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