HSBC


HSBC reaches deal with Huawei's Meng over dispute

HSBC reaches deal with Huawei's Meng over dispute

(ATF) HSBC and Huawei Technologies' chief financial officer Meng Wanzhou have reached an agreement in a dispute about the publication of documents relating to US fraud allegations against her, their lawyers told a Hong Kong court.The legal dispute reached the Hong Kong court last month after a British judge in …

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HSBC bows to pressure to cut fossil fuel finance

HSBC bows to pressure to cut fossil fuel finance

(ATF) HSBC has fought off an investor revolt by conceding to demands it reduces its support of the coal industry.The London-based bank said it would phase out its financing of the coal industry in the developed world by 2030 and in the developing world by 2040.The motion was approved by …

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HSBC to focus on wealth management across Asia

HSBC to focus on wealth management across Asia

(ATF) HSBC plans to plough $6 billion into its operations across Asia and focus on targeting wealth management in the region where it makes most of its profit.Europe's biggest bank reported a 30% plunge in profit for 2020 – $6.1 billion after tax, a result that stemmed mainly from the …

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Markets this week: PBOC decision, southbound flows, Treasury yields

Markets this week: PBOC decision, southbound flows, Treasury yields

ECONOMIC EVENTSInvestor focus will remain on bond markets after yield on the benchmark 10-year Treasury note, jumped to a one year high of 1.36% last week amid worries this could dull the lure of riskier assets.“The acceleration in US 10-year Treasury yields to pre-pandemic levels is generating concerns about the …

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Goldman Sachs seeks 100% ownership of China JV

Goldman Sach seeks 100% ownership of China JV

(ATF) Goldman Sachs has applied to take 100% ownership of its Chinese joint venture (JV) and has reached an agreement to buy the 49% of Goldman Sachs Gao Hua Securities that it does not already own. Goldman is the first global bank to apply to take full ownership of a …

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Many central banks looking at digital currencies

Central banks develop digital currencies 

(ATF) The coronavirus has accelerated the world’s move away from cash. Now central banks are considering developing digital versions of the notes and coins in our wallets. Sweden and mainland China could well launch CBDCs – central bank digital currencies – during 2021.These are not cryptocurrencies or units used in …

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HSBC: Caught in the crossfire

HSBC: Caught in the crossfire

(ATF) HSBC has been performing a dance between America and China. After all, it is a truly international bank that is caught in the crossfire of a widening conflict that spans across trade, tech and finance. It is not the only one out there, but its global exposure has probably …

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