35 Burst results for "Hsbc"

"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:21 min | Last week

"hsbc" Discussed on Bloomberg Radio New York

"Joining us now max ketner chief multi asset strategy at HSBC Max thank you so much for joining us We've got this inflation print It turned out we haven't seen the high in inflation Who knows if this will prove in hindsight to me the high What difference has this made Does this meant that you are now factoring in bigger hikes hikes for longer more sad flavor in the U.S. What difference does this made for you In terms of our allocation it doesn't make that much of a difference because the problem really for risk assets in total is in a conundrum We've got basically two very we've got the choice between two very bad choices We've got either the choice of saying inflation is going to stick around for a little bit longer Growth is actually fine But that then means that inflation stays higher central banks have to do more and that's bad for valuation And that's ultimately bad for risk assets On the other hand if growth falls by more than expected And earnings estimates growth estimates will have to calm down and that's also bad for risk assets And the path towards Goldilocks that really narrow path along sort of the middle there looks incredibly difficult to achieve that right That's the sort of soft landing the hopes for the soft landing And that just that I think that the big change from Friday is like we've heard from your colleague before that that sort of narrow path of Goldilocks that soft landing landing path has become ever more unlikely from Friday onwards Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings The fed says a 50 basis point hike is coming The fed is telling the markets what it wants them to do But what's next Some big questions about the next move the one after that and ultimately the destination Maybe they can let the high prices naturally bring down demand Trust Bloomberg for the fastest coverage and exclusive analysis The press conference live McKee in there it'll be interesting Bloomberg surveillance the fed decides Wednesday on Bloomberg the fastest way to stay one step ahead When you think about it from a trading perspective what's been missing the entire last several months is sort of what I would call a cathartic flush out but where you get the vix above 40 which is one of the things you need for at least a trading bottom This week is fraught with peril Julian Emmanuel.

max ketner HSBC Max Bloomberg fed U.S. McKee Julian Emmanuel
"hsbc" Discussed on VUX World

VUX World

03:16 min | Last month

"hsbc" Discussed on VUX World

"A service where customers recognize it as anything other than HSBC. Capital One was clearly operating in a different space there. But do I think it's something that over time customers will. Almost be full as their contact point yes, and it's already happening now, we're seeing it with millions of customers now naturally going to chat naturally using a bot using the technology and not defaulting to the fund and that hasn't taken that long for that to change. And just in just in. Yeah, I mean, it doesn't even have to be branded, you know, that you know what they made a very conscious decision to make it on to make it its own kind of thing. But it doesn't even need to be that to be honest as long as it's delivering value for customers and delivering value for the business, and that's all it really matters. What kind of I imagine when you started you were starting with some kind of low hanging fruit as I was kind of alluding to FAQs and stuff like that. What kind of range of use cases are you covering now? You mentioned rooting in the IVR. I think you alluded to some self service in the IVR as well. I wonder if you can just give us a low down on voice and chat, the nature of the use case is that you're covering it in a minute. Yeah, so on The Voice side, we do a bit of a bit of transactional, a bit of color information provision, not necessarily FAQs as such, but it might be simple interactions like playing out a list of transactions. Through to the ability to cancel console cards, replace cards, et cetera. I think there's more opportunity in that space. And I think it predominantly still around transacting changes that address those types of things. But really focused on the high frequency activity that I think that's where an IVR does its heavy lifting. But we do use it to try and help educate and steer and direct as well. So we spend a lot of time looking at the messaging in the IVR and how we infuse data in the IVI to make sure we play messages that are relevant to our customers. In the chatbot space, I much more FAQ focused, we have got some transactional bots running. Today, which is mostly based around card usage and card inquiries can interactions. Which was partly use cases partly because of some regulatory change that we wanted to support and we knew that from a retailer perspective that they had a bit of an adoption curve to go through for ecommerce transactions. But for our customers, we did as well. And we wanted to make sure that both the bot and the IVR could support that and support customers..

HSBC
"hsbc" Discussed on VUX World

VUX World

05:32 min | Last month

"hsbc" Discussed on VUX World

"Yes, we need digital teams to help us. But actually the bot on the flows and the conversations. There are designed by frontline contact center agents. So we've set up a capability where about 55 people changes on a regular basis, but working, building chuckle floss. And these guys are used to serving customers. So what we said earlier about the language, how we need to explain things, how we capture that. And then we've got slightly more technical capability in terms of the NLU and how we build the flask links to that so that capability. But it is genuinely a bot built by the people who said the customers. And I'm not saying actually unique I know the organizations that are doing that. But that was a very, very simple and early on. First iteration of a bot didn't really work. It was very technology driven. Now I've got some super talented IT colleagues, but actually what it's shown a light on is that it's the people who are serving the customers that know the customers the best. And it doesn't matter how much data it could throw at it. That human experience to make your bots more human, we don't hide the fact you talk into a bot. We don't try and disguise it. We're very clear that you're chatting to a bot. But the people building it are the ones that serve the customers as well. And that's made that's made a really big difference. What it's also meant is that we are both wearing but you have really agile. So something happens in the industry, something happens in, you know, within HSBC, then we need to get bought out. We can get it out in 24 hours. Because it's not a tech delivery, it's a frontline delivery..

NLU HSBC
"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:32 min | 2 months ago

"hsbc" Discussed on Bloomberg Radio New York

"So we have a very busy day in terms of earnings HSBC giving a warning about China of course we've got this mass testing now of people in Beijing not a lockdown but we'll discuss that on the program and also we'll bring you our top interviews for example with the HSBC CFO UN Stevenson this hour also the CFO of Santander and the CEO of UBS Yeah just looping back to China we have to keep a firm eye on any updates from officials there of course that is the key test over the next few days is how many numbers come in in terms of the infection rate and whether that then does prompt the kind of lockdowns that we've seen in Shanghai which in fact in the last few days have become more severe in China's financial capital So continue to watch that continue of course to watch the developments in Ukraine As you say a huge day for earnings and then the corporate story of the hour of course Twitter and Elon Musk agreeing that takeover deal Yeah absolutely The biggest leverage buyout in years $44 billion We can not resist that story So bring that to you just a moment Let me update you though in terms of the market Stocks actually are climbing this morning rebounding after the PBOC stepped in with more assistance in China Since I 300 is now up by 1.3% MSCI Asia Pacific index up by 7 tenths of 1% The Japanese yen has been plunging and that has given also a cushion to the topics which gains four tenths of 1% As for stock futures for the U.S. market open that had a really wild ride on Wall Street yesterday we were up two tenths of 1% a 1.7% jump for European stock futures two In terms of the bond markets we've seen treasury slip along with the U.S. dollar in terms of yields at the moment the ten year trades at two 85 up by three basis points at the moment Sterling continues to have been pummeled overnight but actually we see something of a gain up a tenth of 1% in terms of the pound this morning and gold on track to post its longest losing streak in more than a month So lots to think about in the market Let's recap some of these earnings then and they've come thick and fast through the banking system and the banking sector HSBC's first quarter earnings beating estimates They came in with adjusted pre-tax profits of 4.71 billion U.S. dollars That beats the consensus of analysts of 4.49 billion So 4.71 billion in the first quarter for HSBC versus the estimates of 4.49 billion Yeah the other key line I think from HSBC is that they say that they've booked over the Russia exposure of $1.3 billion for the first quarter Also we've had our UBS earnings first quarter net income comes in at 2.1 billion so again a beat on the estimated 1.9 And the Spanish lender Santander coming in with first quarter net income of €2.54 billion and another beat here from the banking sector at the estimates had been for a little under 2.3 billion So a beat for the Spanish lender in the first quarter Santander Yeah and as I say we'll hear from all the CEO CFO interviews from those three banks throughout the hours this morning Let's get over now to Bloomberg's cross asset editor though Joanna osser who's standing by with a broader look at the markets the PBOC pledging support Joanna how much is that helping after investors really woke up to the idea of a lockdown in Beijing and that sense stocks plunging yesterday Yeah Caroline so it is helping a lot as you said with the stocks And it's the tech in particular the hang seng tech index surge more than 5% Alibaba and Tencent have really been boosting the broader regional gauges And that you want swung from a .4% loss to a .4% gain against the dollar in the offshore markets It also gained onshore And we did see heavy dollar selling by the overseas branches of Chinese banks while hedge funds cut back on shorts according to traders But some people are saying the verbal intervention might not be enough to spark a sustained turnaround And those Mainland China equity indexes are still down 20% this year Yeah that's been a lot of verbal intervention not much material intervention so far from Chinese policymakers So maybe the patients will wear thin What are the volatility measures though beyond China what are those measures telling us about the markets right now Joanna Yeah Tom So overnight we had a lot more nervousness out of the U.S. people are looking to hedge here and a lot of it is around China actually You already had the fed and inflation And earnings are looking decent but people are quite nervous about China The vix is back in 27 28 area And volume embarrass options versus bullish ones reach the highest in two years yesterday You also had the move index of treasury options volatility the highest in 7 weeks a JPMorgan FX volatility index the highest in a month So you are seeing a lot of nerves coming back into the market Okay Joanne Austen thank you very much indeed our cross asset editor walking through some of the key themes keeping an eye on volatility and what it's telling us about the future direction of these markets for real-time market commentary and analysis Check out markets live that is ML IV on your Bloomberg terminal And now our top stories this morning hopefully we'll go to the Hungarians Finally good morning Carolina and thank you The world's richest man Elon Musk has agreed to buy Twitter for $44 billion after months of fast moving developments more from Bloomberg's Charlie pellet Musk is one of Twitter's most watched users with more than 83 million followers He began amassing a stake of about 9% in January by March he had ramped up his criticism of Twitter alleging that the company's algorithms are biased and feeds are cluttered with automated junk posts He also suggested Twitter's user growth was inflated by bots after rejecting an invitation to join the company's board on April 14th He offered to take Twitter private In New York Charlie pellet Bloomberg daybreak Europe Now Russians foreign minister Sergei Lavrov was warning there is serious danger of nuclear conflict This comes after U.S. defense secretary Lloyd Austin said he hopes a Russian losses in Ukraine will deter its leadership from repeating its actions elsewhere We want to see Russia weakened to the degree that it can't do the kinds of things that it has done in invading Ukraine So it is already lost a lot of military capability and a lot of a lot of its troops white Franklin Meanwhile attacks are continuing on the steel plant in the besieged port city of Mario pole where some 2000 Ukrainian fighters are holding out and according to the UK defense secretary Ben Wallace 15,000 Russian troops have been killed since a Russia did invade Ukraine Now Brexit has caused a major shock to UK trade patents Bloomberg's UN pots has all those details A new study is found Brexit has seen UK imports from the European Union collapse and has caused many small businesses to give up exporting to the EU altogether The analysis by researchers from the London school of economics looked at the first full year of the new trade deal They estimate imports from the EU fell by 25% after controlling for the effects of COVID The number of British export relationships with EU firms also slumped by 30% after the UK left the single market and custom union in January last year In London I'm new in parts blue McDavid Europe And China's expanding its COVID-19 testing to most of Beijing raising fears for an unprecedented lockdown Sing.

HSBC China UN Stevenson PBOC Santander MSCI Asia Pacific UBS U.S. Elon Musk Twitter Spanish lender Santander Beijing Joanna osser
"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:26 min | 8 months ago

"hsbc" Discussed on Bloomberg Radio New York

"Daybreak Europe to give you a check of the markets every 15 minutes or an hour and a half into the trading session here in the UK and across Europe The stock 600 is flat as a pancake Over in the UK though here the footsie 100 is getting 5 tenths of a percent basic resources It's powering the markets here higher on the back of those elevated prices In France a cac account is down a tenth of a percent gains in Germany gains in Italy of four tenths of a percent We've got bank earnings in focus HSBC listed of course in Hong Kong and in London posting better than expected earnings for the third quarter We're looking ahead to technology earnings as well Facebook is the big one later today will see the impacts on advertising from those supply chain constraints the kind of impacts that infected and impacted snap and see if that flows through to Facebook as well also looking at regulatory concerns for that company Over in China you saw some liquidity injections from the Central Bank the saint Shanghai composite ended up 8 tenths of a percent there are concerns though about the spread of the delta bear in that country which is layered on top of some weaker data suggesting the recovery is starting to stall in terms of the currencies you're looking at a slightly softer U.S. dollar down a tenth of a percent energy still firmly in focus of course we heard from the energy minister of Saudi Arabia suggesting there are no rush to boost supplies as prices remain elevated Brent is at $86 a barrel trading up 7 tenths of a percent The U.S. ten year yield that benchmark is up gaining 1.65 now currently on your U.S. tenure a factor of course for investors as they look at those tech earnings amid a broader view that yields will continue to grind higher J pow from the Federal Reserve on Friday saying that it's not yet time to Reich rate but he is comfortable to see at the taper come to an end So that's a check on your markets an hour and a half into things this Monday morning at the start of the week Let's get over to Matt Miller now though for a taste of what's to come Stateside and here in Europe Matt I've got a story that jumped across for me around cryptocurrencies The shiba ino coin That is just gone bonkers I just assumed that you'd have a view on this There was a great line from cheeseman saying and he's a strategist in this space saying you don't short things that millennials think are funny What else have you looking at Yeah I don't have a view on chiba enu by the way Or any of those joke coins but I'm looking at there's so many real movers stories that I think are fascinating today I'm sure you're across HSBC and all the banking news with UniCredit and monocoque We're going to be covering that in our program as well But there are a number of other stories Volvo for example paring back its IPO Volvo plans to do two and a half $1 billion IPO It's now of course owned by gigli the Chinese car company but one of the problems is investors don't exactly know how to value its polestar unit which is its performance luxury electric car unit They made an incredible first edition car pole star You gave it you gave it solid reviews Yeah huge huge fan but I agree that it's difficult to know how to value it So that's one IPO among a slew that has been recently downgraded to a smaller size so that investors can better digest it Really interesting story Another one that caught my eye is that BP is working with piaggio to try and develop an electric strategy for smaller vehicles for two and three wheeled vehicles piaggio of course is the owner of Vespa as well as motor guzzi and Aprilia And they're talking about not just charging stations at BP gas stations or petrol stations as you call them but also ways to switch out batteries So you just roll in they pull the battery out of your Vespa and put a new one in which I think is pretty cool And then there's a ton of other stories that are moving markets SAP is one of the biggest point additions to the stock 600 because hassel platner the famous chairman and founder cofounder of SAP has bought another $40 million worth of his own shares on Friday Investors are watching and getting on board with him And then on the downside Novartis unfortunately has a lung cancer drug that didn't meet expectations in clinical trials And so it's selling off not by a lot but Novartis is such a heavyweight I don't think Tom people outside of Europe realize how heavy these pharmas are Roche and Novartis are two of the biggest stocks on the stock 600 the broader European index so when they move a little it tends to weigh down the index or pick it up a lot It's so refreshing to be able to focus on some of the corporate stories as well after weeks months of discussion some of the macro stuff the inflation which cause remains important but digging into those corporate stories is refreshing and you've got a great line up there Matt Miller thank you very much indeed So Bloomberg surveillance merley edition with Matt Miller and team you're going to hear that on London DAB digital radio And for U.S. listeners you can catch Matt and.

Europe HSBC U.S. UK Facebook Matt Miller Volvo piaggio Central Bank cheeseman Hong Kong Shanghai Italy Saudi Arabia Reich France Germany motor guzzi
"hsbc" Discussed on Inc. Uncensored

Inc. Uncensored

03:28 min | 1 year ago

"hsbc" Discussed on Inc. Uncensored

"Offices or mentors or sponsors of read. Those drove what i needed to continue to work on around my professional still sets but also me as a person that is something that i'm sort of missing to an extent as an entrepreneur because i don't have a boss i am the boss and i tell this very openly that is one thing that we underestimate in the small business corporate world wherever you work if you've got a boss really listen to that feedback although you may not agree with everything. They're there for a reason and work on those things. Take the time to invest. One thing that i would just say is early early on someone said to me. You've really got to create a network. You haven't been in banking since you were twenty two years old as starting as an analyst. People don't know you so take the time to invest in your network and your relationships and remember that they are two way streets so it's not just about you. It's about them to. I listened and that is something that i do every single day. My old boss. Hsbc hsbc was a huge organization. Anna jp morgan said. I don't know how you have the capacity to build these networks and you just sort of know everyone. I think that's a very unique skill that not everyone has taken time over the years to home absolutely and i imagine that helped a lot. When you founded luminary. Tell me tell me about the the first seed of the idea. The first seed. I did not have the idea or concept of luminary. When i was working as a bank or i i literally. I'm one of these alwin type of people. I really can't devote time to a side. Hustle is have so much credit to those who can. It was when. I decided that i needed to figure out after a conversation with one of my mentors in the financial world said what i really want to do for the next ten. Plus years of my life doesn't mean that the rest of my life. What am i great at. Where do i wanna have impact. One of the things as i mentioned earlier was people development and understanding that the pipeline was there but we weren't investing in it early enough back to sort of. How do you get someone to in themselves. How do you also get companies to invest in their pipeline way earlier and more off the may do and i just wasn't seeing that right we have seen the numbers stagnate for so long for women in leadership and it starts with the pipeline and so if fifty percent of the workforce women. Why aren't we same women leaders and so while they're not all not taking they're not only to do different things or become entrepreneurs or or become caregivers or working moms and even if they are we still should be developing them. No place as i lived around the world and many countries. There just wasn't a place for all types of women. There was a lot of different organizations and all of them have have you know very unique purposes for millennia. Women are senior women or bankers or small. Business owners or founders. And i said we're actually segregating ourselves. We're creating these barriers when we should be bringing all of these women together literally one night. I came home from yet. Another woman's hat and said how do i. How do i do this better..

Hsbc hsbc Anna jp morgan Hustle
"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

03:35 min | 1 year ago

"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

"You know the likes of all the time signed and hang on where they have these Say less respectful banks than the bank lay banks cast women other things in the social e e commerce in a gaming in you know so the Really we we see a convergence of many as gordon. Call is playing one super. If that's it's important that you can use so we wanted to understand the implications of those business models and how does that translate to the western culture to israel deep-rooted and the british bank. But how do we. How do we really adapt to the new world. Where consumers declines to expecting. You know you're so accessibility of the finance weather for consumer and business all in the immersive experience of the point of needs right whether being point of sales at the retail. Either ecommerce or physical store or it's on microsoft's say the point of sale purchasing of the next generation cloud service so we on to be everywhere embedded into the point of need so two. That's right we look at other industry with look at the The east on the we also look out a frankly the isaiah where the fintech relate the particularly attack. Where'd aj is so that. The centers always slow. When i came to see which that person is not just saying ovation's kim stopped innovation. Every single person has a job to asian and innovation. Team also has a job to do you so we got to happen everywhere so we look out where the fintech is. They're they're always faster and agile and we really want to take outside interest to drive whether to seeing into the into the center and really make us better and more fit so don't dimensions by which were looking at the x. profitable is coming from. that's fantasy a fantastic. I appreciate you giving that overview. So we've talked a bit about you've talked about your vision of establishing these ecosystems. My words not yours. But i think that fairly encapsulates this notion that you're describing so eloquently. I wonder if you could talk a little bit of balance your own philosophy about innovation within the enterprise Before your time at. Hsbc again a enroll. Now about two months you're the mvp and head of the consumer bank east west bank your partner at three different major consulting firms before and through that role influenced a great number of organizations around the world There are those who say that innovation should be everyone's responsibility the cynic might say. Well it's everyone's responsibility is really. No one's There are others that say that small cadre of people ought to have that as their sole focus and certainly draw insights from others as well talk a bit about what you've seen work best the extent to which you can pay with a bit of a broad brush stroke so there's really no right answer. I think it's whichever organization find the way that makes make work for them. What i think. I resonate wh one of the speakers You know points in terms of it got so what we're doing that. Hsbc frankly doesn't matter and we don't want to be a police role with. I personally hate that word of governance so governors means you. You don't trust empower the whoever the edge is also i don't think it's it's governance. Its it's more orchestration..

microsoft east west bank isaiah asian israel british Hsbc two months one two Every single person agile fintech three different major consulti kim
Welcome to Technovation

Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

00:08 sec | 1 year ago

Welcome to Technovation

"To. I'm your host peter. Hi my guest. Today are catherine's zao and megan crespi an interview conducted at a recent meta strategy digital symposium.

Megan Crespi Peter Catherine
"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

08:11 min | 1 year ago

"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

"Increased west bank. And she's now in charge reporting directly to me of all of our digital innovation partnerships and our venture fund. And so she's got a relationship. Presentable i mentioned earlier She's working on offense working with a lot of the venture capital firms. We partnered with these companies and really building this virtuous ecosystem around our banks. And you know i. I don't think any other bank doing it quite like we are. I think certainly an investment arms but not as integrating into capabilities products rolling out Across the bags securities and area that were special Than a cyber is ever present never threatening every day in a lot of various until we were very early investment example in krause strike Quite successful we. We'd they're perfect example of a company that we invest in early mature still use their products. Well that's fantastic. I wonder if you could share some perspectives on what you've learned about customer preferences as they choose to interact with a company like hsbc digitally and the extent to which that's been evolved or perhaps even pushed past the point of evolution just evolution towards some kind of revolution as a result of the pandemic. what are what are some of the learnings there john. That's probably been the most interesting thing about the past year on in our digital transformation because we were headed in a direction anyway No we were gonna move all of our key customer facing products and services to a much easier to use digital platform. The demand was was there. We were seeing adoption across the board and then we had a year ago. Actually this week you know the world kinda shutdown due to the pandemic although we got an early warning on that from our asia presence as we saw things evolve in china and other other nearby places We were. I think a little bit ahead of the game. We could talk about that later. Around what we ready to do with our employees and roll out problems our customers was. We'd started some of that in asia. Already what we saw as soon as things lockdown was one Customers really didn't have a lot of other choice than interact digitally you know if if they were maybe on the fence. Am i going to make the payment online. I going to write a check and go down to the mailbox or or am. I going to go to an atm machine. Or am i gonna use cash. they very quickly set all. You know there's actually in doing that for me of being exposed the pandemic or having to leave my Places safety here. So i am going to. I am going to go digital so we saw a huge adoption of digital capabilities for people. That hadn't historically done that. And for people that were started using half digital half manual they went fully digital and then for per transactions new account openings on the past. We would give them a choice. Would you would you like to do it. Digitally would you like to come into a branch and opener well. The branches were closed. And so there was. There was no option to go into a branch in many cases. You had to do it digitally then. We had governments around the world saying you need to help your customers. And we said we'd love to help our customers with these with these government sponsored programs in the us it was the payroll protection program in the uk. It was the bounceback loan scheme Where government said we're gonna back you to fund small businesses especially who need to stay in business to the pandemic but that needs to be a completely digital offering that you put out you know there's going to be any place for them to go to sign up need to be able to do it online from soup to nuts. You know within a day and get their money quickly so we had. We had innovate very quickly on on building capability for these customers in the pandemic that got them into a digital flow in digital life cycle. That will carry through for them. And i think also there were programs like in hong kong where government said. We're gonna give you know every single hong kong citizen ten thousand hong kong dollars about fifteen hundred. Us dollars And so we had to get ready to immediately propagate that and then of course also scale up because every single citizen wanted to see what has my ten thousand dollars in my account so we saw record volumes and transactions and many many of our systems around the world so it really did change the way we look at the digital option her. I think we probably leapfrog three to five years in the digital curve. And it's not going back. You know folks who have migrated digital. Now they're not going back know. Nobody wants to use paper One of the companies. I was on the board of directors for for six years. Docu sign and other electronic signature. Companies certainly became very important in this pandemic. Nobody wants to physical signature. Mail things back and forth you know they want to get it done quickly online so ton of opportunity there really. Great timing is joining the bank to help us him. It in that direction even faster. Yeah it's interesting. you've mentioned a few different cases. Just how global. This business is. And i'm curious. How do you think about where we're what work is done. How is your team for example divided across the The world into to any extent is that determined based upon the kinds of work or even the kinds of adoptions of certain certain practices in one geography or another i think for example of the fact that mobile payments and in frankly just even mobile use advanced so much earlier in some asian countries relative to the west and their level of sophistication. I'm painting with a broad brush. Stroke here but in in some of those jurisdictions are remarkably progressive and so thinking about how you what of work needs to be done at what pace where must be an interesting puzzle to solve. It really is. And i would say on the senior keener split between hong kong london and the us. We have senior leaders in all three geographies makes the huddle stat. Calls a little tricky. Because we got you're out you know sort of mid midday here in in the uk which is early morning in the us in early evening in hong kong to all get together But the senior teams you know. The the organization is heavily concentrated in china and india We have very large offshore centers in both of those countries. We also have offshore centers in places like manila in sri lanka and in mexico in many other countries but the the concentrations that iran india and china because we built a great locations in centers there over the years and to your point we definitely saw digital adoption happened faster in asia. All before i arrived at the bank and then certainly in the last year that's been that's been very true. You know we have a pay me application in hong kong that we spun up very quickly on the digital payments front And got mass adoption quickly by the way we did that. One on the microsoft cloud is part great partnership with microsoft in innovating quickly in their cloud of application So team certainly spread of. This is the most global organization i've ever been involved with by far and and you know. The team is very functional. Operating in many geographies. I think it's been a little interesting last year. The team was also very used to traveling between hong kong and london between london in the us. and sort of getting used to zoom world of figuring out how we can balance times. Sergei how he can get to know each other when we haven't met you know half of my senior team so i've got twelve direct reports six of them. I've never met in person you know. I hired them. Virtually and they started virtually And so hopefully in the next few months actually get my first. Kobe shot tomorrow here here in london. So hopefully next..

Sergei india mexico china six years london three microsoft tomorrow ten thousand six five years manila hong kong ten thousand dollars last year Kobe this week sri lanka uk
"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

07:49 min | 1 year ago

"hsbc" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

"Technician i'm your host. Peter hi my guest. Today is john hinshaw. John is the group chief operating officer of hsbc the largest bank in the world for global trade with revenues exceeding fifty billion dollars annually prior to joining hsbc. John was the executive vice president. And chief. customer officer at hewlett packard enterprise. In this interview we discussed why john Join ages bc after a period spent on a portfolio of other business opportunities and how many financial industry disruptors come from outside the industry. We discuss hsbc's competition with fintech tech companies and the advantages both sides for partnering with each other. We also cover wire. Hsbc has shifted from investing in leader stage companies to earlier stage organizations in the series or angel rounds of investment and ancient species partnership with google to identify financial crime in money laundering. Lastly we discuss. How covid accelerated the digital adoption curve by three to five years the future of work ages. bc john's take on a variety of technology trends such as quantum by gsi and a variety of other topics. If you enjoyed technically please consider reading my new book getting to nimble how to transform your company into a digital leader. The book is now available on amazon as a special offer to our. cx listeners. If you purchase fifty or more books for your team be happy to join your team for group discussion on it to learn more reticent information at metz strategy dot com or visit getting to nimble dot com. Thank you and now for a word from our partner navajo. Sales teams have crm systems human resources leverage hr systems. What about the cia who needs to evolve from technology to business strategist in this digital first world. Cio's and that cfo. Counterparts must ensure technology decisions are may to deliver business value. It's easier said than done. That's why app ta the market leader in technology. Business management is committed to helping companies manage plan and ops. Moi's that technology spend after. All champions of change need actionable insights. They can trust learn more apt dot com and now onto the interview. John henshaw welcome to techno vacation. It's always a pleasure to speak with you. Thanks peter it's great to be with you in great to see you again. thank you. Well i've been looking forward to this conversation. So many changes in your world since we last at least for on the record Change of job change of country. You are now the chief operating officer at each is. Hsbc congratulations on that. Certainly a post you took at the end of twenty nineteen and i'm curious when you join the organization. Then maybe you could talk a bit about the company joined in the mandate you had For for change upon joining. I appreciate the question. Peter and it was really interesting opportunity. That came my way after taking about three years off from my last role hewlett packard and living more with a call here in the uk plural lifestyle. They call it a portfolio lifestyle in us on nine different boards doing venture capital. Were doing some consulting. I winery just for the fun of it. In that valley. The lakers pretty good and enjoying a lot of diversity. But then when. I got the call to chat with agency see i thought well. That's one. were checking out for several reasons Because i knew. Hsbc as a company that was truly the world's only global bank in the way we operate certainly the only global bank outside the us with a rich heritage in asia. The hong kong shanghai bank is what. Hsbc stands for many many would know and then broadening to sixty five countries around the world the the largest bank in the world for global trade five hundred and sixty three trillion dollars of payments. That we make we made last yourself not incredible institution. That was very interesting to talk to but more interesting than that was the transformation journey that the bank was about to embark on and the call came to have a chat with mold. Quinn who's our group. Ceo and mark tucker. Who's chairman of our board to chat about coming into this role and really transforming the bank from where we are today to a digitized bank. That's easy to do business with customers. That our colleagues can have a better experience with that would leapfrog a lot of our traditional competition in banking but also be able to fend off some of the fintechs that we're getting into banking but also partner with fintechs And leverage what they've done not just cms competitors and so i think the chance to Do all of that on an international scale with just be very very attractive to me and candidly chance to jump into the financial services industry which is in the middle of how the world works every day. was really interesting and so while technology has always been interesting. I had to send an aerospace Telecommunications i think this has been really the most interesting role ever had. That's that's fascinating near here that especially given the the heights. You've climbed companies like verizon and boeing. Hp as you've mentioned And i think it's so interesting as well as i think about the diversity of your career as an it. Executive is a tech and ops executive now as a ceo. of course you've mentioned your your leadership In in the form of board membership at a number of directorships at publicly traded companies as well including ones in the financial services space. and so. It's not as though this was a completely foreign industry for you but interesting to think about how each experience sort of draws from the next. You found that because you are you a relatively new as an executive to this industry that you were able to have kind of that novices. Mind if you will the the able to see with a new light in ways that perhaps people that were career financial services executives might not. I think that's definitely true. Peter i think that look the financial services industry For many roles needs deep experience experienced trade. If you're a traitor. That spreads is brilliant. Were you know if you are creating unique algorithms for financial services industry to require a lot of experience in that space than than yes. Any growing up was very important. You know many other functions in risk management in financial crime in a lotta areas wouldn't want to bring in necessarily an outsider but in the sierra role which really looks across the company bourbon technology and operations in the howard. Run the bank they today. You certainly need great years in key roles who have been agent services berenson actually i. I've enjoyed doing his bridging. Bros that have twenty five thirty years of experience with some fresh eyes to look at some of the challenge. And if you think about a lot of the fintechs that were competing with now. A lot of those folks did not grow visa services. They grew up with technology and so they see an opportunity. They see where profit centers are and so they want to come in and do anything about the people that started groups like pay pal or or other You know financial services industry disruptors. They often didn't come from the industry. And so i do think that it was interesting. Interesting to agency to have the fresh that is coming in all the wilds. Your went some experience before the bank of new york. Mellon actually Receivers one.

john hinshaw John henshaw Peter peter Hsbc verizon hsbc three asia mark tucker John amazon Quinn twenty five thirty years google Ceo hewlett packard enterprise Today five years uk
Is Silver the Next GameStop?

Money For the Rest of Us

04:33 min | 1 year ago

Is Silver the Next GameStop?

"Yesterday. Silver prices hit the highest level in eight years to over twenty nine dollars and fifty cents per ounce the london bullion market association which is the silver market said that more than a billion ounces of silver was traded. Yesterday it's three times greater than the average from the end of two thousand twenty can louis c. of app max which is a dealer in precious metals coins boy in bars said yesterday on bloomberg tv that they had more volume in silver sales in the past three days than they had all of december and forty three percent of those orders from new customers were. Typically it's only fourteen to twenty percent of orders in a given day are from new customers. Adrian ash is director of research at bullion vault which also sells silver. Bullion said they had more customers yesterday than all of last february. Why is there this sudden interest in silver last week. We discussed wall street bets. The sub reddit and what was driving the price of game. Stop and other memes stocks. There were some post last week on wall street bets about silver being the biggest short in the world but there's post on all different types of topics but some of those posts because they're voted on in this forum made it to the top and then news organizations pick it up that that the wall street bet sub read. It was now focus on silver but then some on wall street No they're not promoting silver that there are proponents of silver taking advantage of the forum. So there was a lot of confusion over. Who's driving this increase in silver. But clearly it's happening. One commodities trader said about wall street bets that i'm beginning to think that they are being suckered by the silver scammers to try to get the price up today when i looked at wall street bets. There wasn't any of the top articles on silver. They appear to be a couple about diamonds but most was on gm's stock which fell over fifty percent this week here. We are with silver having spiked to its highest level in eight years. Today it's down to twenty seven dollars per ounce but the sudden interest news gives us an opportunity to look at silver the investment case for silver. And should we buy silver now. There are two primary ways to buy silver by it physical including coins or bars. We can also by silver through an exchange traded fund like the shares silver trust which owns physical silver or we can participate in these silver futures market. And we'll talk about how that works. A lot of these news articles reference. Some of the post on wall street bets about how silver is the biggest short in the world. And there'll be a squeeze and we're going to stick it to the banks that are short but still i really different than the short squeeze on game stop or some other stock like i talked about last week where you had hedge funds that were massively short game stop. There were more shorts than shares outstanding. And when the stock started to rise those hedge funds needed to buy back game stop stock so that they could close out their short position and stop losing money but if we look at the positioning of hedge funds and other speculators in the silver futures market. They're actually net long in other words positioned for silver to go up in price and they have been net long since two thousand nineteen. The natural times reported that analyst said bullion banks has hsbc and j. p. morgan did not have speculative naked short positions in silver. In if anything would make money by selling silver to exchange traded funds in helping minors hedge exposure bernard data an analyst texas that it's the wrong understanding of the market. It's trying to apply the same. Rationale is game stop but most of the market is long silver. The banks are going to make more profit and the silver buyers are indirectly sending their own money to them

London Bullion Market Associat Bloomberg Tv Adrian Ash Bullion Vault Bullion Confusion GM The Natural Times Bullion Banks Hsbc Morgan Bernard Texas
"hsbc" Discussed on KGO 810

KGO 810

06:33 min | 1 year ago

"hsbc" Discussed on KGO 810

"Billion Fine well, HSBC's Hong Kong branch allowed this This business known as one. Excuse me. W c m 777 it. It's a business that's old Cloud computing software. Ah, and promised investors 100 Day. You know, are richer. 100% return within 100 days allowed it to move tens of millions of dollars. The business raised most of its money from mainly Latino and Asian immigrants and Uh, it was essentially upon scheme. You know, I shouldn't say essentially, it was a Ponzi scheme and Ah, yeah. So all the money that You know all the money that this that this company raised the person used to, you know, buy couple of golf courses, the mansion and you know a diamond rights in Sierra Leone. And unfortunately, you know, just kind of give you the real world effect of this. Um Ah. There was a woman who gave it to someone gave $2000 to a person who was acting on behalf of this company to invest in that cheese. She lost all of her money, and she and two others conspired and they murdered this person up in the sound of Valley and it was You know it was linked to this. So I'm not saying that HSBC is responsible for you know, some of murder here. But essentially what I'm saying is that this is how it affects people trying out this trickles dirty, just dirty and you know if we can stay on HSBC for just a minute, I'm wondering if they are politically connected. And one of the reasons I asked that question is because they not only just do business all around the world, but they do business connect. Connected to our company that's owned by the husband of our very powerful senator Dianne Feinstein. Now it's not like every you know person who banks with HSBC, a suspect. But you know, Richard Blam is somebody who is massively wealthy. Did your investigation at any time reveal anything about blooms relationship to these banks, including HSBC in any suspicious activity he may have been involved in. It did not. I mean and I will be. I'll be upfront way did not closely look at Richard Bloom, but what we did look at it is since you brought it up about the politics is very concerning in some cases revolving door and this took place after 2012 after and a little bit before. But when HSBC You pay this math of fine, so they brought in about, you know. More than a dozen U. S and UK government officials. They had James Comey, the former FBI director, Prior to his appointment as FBI director under the Obama administration. He went on to serve at the time he was Yeah. U. S attorney former U S attorney But he went on to serve on the board of HSBC Bob Warner had overseeing the Treasury Department's Ah sanctions office. He went on to serve in a senior executive capacity HSBC. They brought in former on a couple of other former Treasury officials. What's even amazing here? The Treasury I see that the Justice Department official who was responsible for prosecuting HSBC went to our freshest no on and prior to going to work for HSBC prosecutor she went to work for the financial crimes enforcement network after that. Then she went to work for HSBC. She's that is making my stomach hurt. So the argument could be for some, like, Oh, look, they're bringing in government officials and there, you know, to try to help them further clean up their act. But you know, we put together a lot has been written about HSBC, you know, focusing on that right now and the you know hundreds of millions of suspicious 100 millions of dollars in suspicious transactions that attracted the You know that 2012 settlement with the government and Ah, you know things that make some improvements. But like I said, the other way have the receipt where we can show that they You know they were continuing to bank the very same, You know, customers in some cases, clientele that got him in trouble in the first place, one of the banks that you also focus on this Deutscher and we know that was one of President Donald Trump's favorite banks. I know our time is really limited here. I do want to mention that in your reporting. You say that this problem so widespread that it's become difficult to separate the dark economy from the legitimate and my understanding. Is that in part because of this Reporting that there are two senators who are moving toward more actions concerning banking laws. Senators Elizabeth Warren and Senator Bernie Sanders. Do you want to tell us anything about that? And is your investigation ongoing? Our investigation is ongoing. Ah, you know, as I mentioned, we spent two years on this and Pat Perhaps one day. I could. You know, we could sit down. Have a coffee and I could tell you how painful it was to undertake justification like that. But you're a glutton for punishment, Jason. I know. Yeah, I kind of am so so. Elizabeth Warren on Monday came out with a statement. She released a statement and in response to To this to this story on and she has called for reform. You know, she has a bill Ah ah, that that what? Essentially, she's asked that that's been sitting there that she's asking for Congress, or she's rather calling on You know Congress to support her bill that would reform the government practice of offering these differed Project prosecution agreement instead of actually, you know, punishing right prosecuting them, and and if there's criminality that getting the people and putting them in president all sorts of actions they're capable of taking. Right. And she has the You know, the legislation that she introduced into 1018 is called the ending ending The too big to jail act on it. Would it would you know, would stop the practice of quote, you know, allow bankers to walk away with Let's drop in the bucket settlement and slaps on the rest..

HSBC Elizabeth Warren Treasury Hong Kong president Ponzi scheme Richard Blam FBI Sierra Leone James Comey senator Richard Bloom Congress Dianne Feinstein UK Donald Trump Senator Bernie Sanders senior executive Treasury Department
Bank stocks knocked as Suspicious Activity Reports come to light

CNBC's Fast Money

01:26 min | 1 year ago

Bank stocks knocked as Suspicious Activity Reports come to light

"Bank stocks getting crushed today a new report about the big firms dealing suspicious finds Wilford. Frost Scott the details wealth harmless. So Bank stocks were down sharply today following large declines for their European counterparts, Deutsche Bank for example, closed down nine percent on European trade. Standard Chartered down about five percent both hitting twenty five year lows in London trade earlier US banks ended up down about four percent. This is in part due to investigation by the International Consortium of investigative journalist that highlighted suspicious activity from various banks in the past specifically money laundering following a review of more than two thousand, one hundred reports filed by the US Treasury financial crimes. Enforcement Network a slew. Mentioned including I said HSBC Bank Standard Chartered JP Morgan and Bank of New York Mellon amongst others clearly, this activity is embarrassing for the banks however important to note in the past and that government and regulators were already aware of these details since suspicious activity reports by their very nature all reports between the banks and the government in the first place for example, for example, Deutsche Bank told me this is not new information to us or regulators Today off therefore much more down to the broad cyclical selloff linked to covid economic headlines, and also that Supreme Court news further making a stimulus bill less likely something that banks are disproportionately reliant on compared to some other

Deutsche Bank Hsbc Bank Standard Chartered J Bank Of New York Mellon Standard Chartered United States Us Treasury Wilford Supreme Court Scott Financial Crimes International Consortium Of
"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:37 min | 1 year ago

"hsbc" Discussed on Bloomberg Radio New York

"Be considering extending crisis. Business loans not good enough. Many big banks failed to act on suspicious transactions, leaked documents show HSBC's shares fall to a 25 Year low on this on fears of pushback on expansion from China. US. Democratic candidate Joe Biden urges Republican senators not to bring in a new Supreme Court justice before the November election, and U. S Secretary of State Mike Pompeo attacks in Europe. Overstaying with what he calls the silly Iran deal. I'm beyond parents with World News on the U. S Judge blocks the wee chat ban, while Tic Tac's deal with Oracle gets backing from the White House, but now awaits Beijing's approval. That's all straight ahead on Bloomberg. Daybreak Europe on the digital radio London Bloomberg 11th, Rio, New York Bloomberg 99. 1, Washington, DC Bloomberg 1061, Boston. Bloomberg 9, 60, San Francisco. Serious except China won 19 and around the world on Bloomberg radio dot com and fired the Bloomberg business at Good morning from London. I'm Caroline Hip. Kim and I brought your hearing A listening to daybreak. Europe live on London. Ta be digital radio. Caroline. You're back in the office, but a sense that normality they not be the future, at least in London for a little bit of the future. Yeah, It's so lovely actually, to see some of my team members in person. Yeah, the first day Glo back in the office. But of course, we're bracing for more restrictions in London because virus cases a soaring on the mayor of London wants to see tighter restrictions that tried to bring that under control. We'll hear Muchmore from the government on this later today. Roger. I think one of the key stories this morning is really around this international consortium of investigative journalists report Box ticking global banks may be firing off suspicious activity reports at a rate of knots but not always in a timely way. They say. It's not really making a difference when it comes a tackling. Global money laundering. I'm scratching my head of what about what the fallout from this? Maybe we're already seeing in terms of HSBC shares down the worst position since 1995 on DH. Other banks, of course, may may follow suit. There may be more issues as well be looking looking at this. And, of course, with the European opening, we may see the results in terms ofthe the shares themselves. You're absolutely right. Let me bring you up to speed with the markets. This hour s O. We have the Hang Seng Index down by one half percent, indeed, dragged down by the drop in thie. HSBC shares, which happened in Asia, but also they did take a hit in the European trading on Friday. Two is not just With the issues. Also the relationship with China that is at issue also the U. S. Dollar retreating down 2/10 of 1% on the Bloomberg dollar spot Index. The pound about his high 2/10 of 1% of US won 18 62. As for futures markets, they've been very much weaker. We're really looking for the next propeller in terms of The global markets now is that many features down half of 1% years so exclusive features slump 8/10 of 1% After we dropped 7/10 of 1% on Friday, Rising Corona virus cases across Europe demonstrations in Spain, for example, then in terms of other markets, cradle is weaker. 4/10 of 1% on public TV crew features gold slightly high and in the bond markets. Japan is actually closed today. The stock market is shot. USC is that 68 basis points right now for benchmark 10 years, Right Look, some of today's top stories. Now concerns are mounting that Britain may need a second lock down to stop the spread off the virus. Boris Johnson. Set to be told today that the nation is at a critical point in the pandemic. Health Secretary Matt Hancock spoke to the BBC's Andrew Marr about the restrictions being considered. If everybody follows the rules on DH does the self isolation If they need to follows the rule of six, which is really simple and clear on the basics, Hands face in space, then we can avoid. For the measures, But the alternative to that choice is that we will have to bring in Mohr action and we don't want to do that. But every single person has a part to play in this There are expectations local restrictions could be extended to London with LBC reporting that the mayor Sadiq Khan, will recommend tightening the rules today. Meanwhile, the Chancellor Vichy Soon Act has signalled that he could take further action to prevent a wave of job losses. That's according to the Financial Times..

Bloomberg London Europe HSBC China London Bloomberg Joe Biden Caroline Hip Mike Pompeo Supreme Court US Sadiq Khan Financial Times White House San Francisco Boris Johnson Andrew Marr Beijing
Sanctioned Putin associate ‘laundered millions’ through Barclays

BBC Newshour

01:00 min | 1 year ago

Sanctioned Putin associate ‘laundered millions’ through Barclays

"Banks helped money laundries and Russians subject to international sanctions. The Secret files show that the bank HSBC allowed fraudsters to move millions of dollars despite being warned it was a scam and ally of the Russian President Vladimir Putin. Sanctioned by the U. S and U used Barclays in London to buy fine art Fergus Shell is from the International Consortium of Investigative Journalists is unprecedented and remarkable leak that tells us as never before what the banks know about suspicious money movements. It connects with virtually every country on the planet, and it connects with some of the worst financial scandals ever in history and some of the worst criminal and terrorist Activity on the planet. HSBC has said it's overhauled its ability to combat financial crimes and barflies. Excuse me, Barclays highlighted it's cooperation with the authorities. Two Republican senators have said the

Hsbc Barclays International Consortium Of In Vladimir Putin Financial Crimes Fergus Shell President Trump London U. S
U.S. Penalizes 24 Chinese Companies Over Role in South China Sea

Bloomberg Law

01:57 min | 1 year ago

U.S. Penalizes 24 Chinese Companies Over Role in South China Sea

"Have been developments Even today in the U. S. China Relations Is China today fired four ballistic missiles in the South China Sea is part of military exercise their welcome now Bloomberg chief North Asia correspondent Stephen Angle with the latest. What's the reaction over there? What's going on in what seems to be increased tension, military tension in the South China Sea. Yeah, absolutely. I mean, of course, The China US relationship is a focal point of this election in the United States and we see it firsthand out here where I am in Hong Kong. And you know, you have to decide whether is this, you know, provocation, military provocation, Or is it Maura? An example of what election era. Theater. But regardless, it's on a dangerous stage here because what we've learned from the U. S military is that the Chinese military in these exercises in the South China Sea between Hainan Island and the Parasol Islands fired four medium range ballistic missiles, including. We're hearing a DF 21 D. That is a dolphin 21 D so called carrier killer missile that was fired from the mainland. Of China into the South China Sea provocative indeed. And separately. We're also hearing that the U. S. Has announced trade and visa restrictions coming from the Commerce Department and the Secretary of state on 24 Chinese companies that the U. S says is tied to the P L. A. The People's Liberation Army's Expansion in the South China Sea. 24 companies added to this entity's list and Wilbur Ross, saying the entities designated today have played a significant role in China's provocative construction of the artificial islands and must be held accountable Now. Separately, the State Department as well, once the bank here, HSBC held accountable. Or what they say, is limiting freedoms for its account holders here in Hong Kong completely separate issue but again part of the political theater between China the United States.

South China Sea China U. S. China Relations Is China South China Sea. Hong Kong United States State Department Stephen Angle Wilbur Ross Bloomberg Commerce Department Maura Hsbc Parasol Islands U. S Hainan Island P L. A. The People's Liberatio
US-China rivalry hinders a struggling HSBC

Bloomberg Daybreak Weekend

05:29 min | 2 years ago

US-China rivalry hinders a struggling HSBC

"We've seen fall out over the UK is World Way decision suspensions of extradition treaties on most recently. Hong Kong considering on election delay That could mean HSBC's business shift may prove untenable under its current structure being listed in the UK and Hong Kong while supporting China's national security law, expectations of more drastic action on earnings, they are increasing well for more on this. We're joined by Bloomberg Finance reporter Harry Wilson. Thank you so much for being with me, Harry. Look, first of all on H S B. C. It was unusual, wasn't it? That HSBC made the statement that it did about China's controversial A new law that effects Hong Kong. Why do you think they did that? I can only surmise they come on the enormous amount of pressure to say something on it. Normally, banks, particularly HSBC have like to remain entirely apolitical. Getting into politics just isn't in the DNA. And I think the fact that they felt they had to come out and say something publicly shows that probably not saying something will was seen as a school, too. So we certainly have picked up in the last couple of months that our thanks senior to perfectly are getting a little hum. I think a lot of cools a lot of Um ah, imploring from their Asian businesses to basically toe the line of it more when when it comes to Christo. Events in Hong Kong and China. Okay, so that on the security law on the flipside, of course, the pressure in response to that Was was also apply from the UK side. So it's kind of ratcheted up the political pressure you know, on in both parts of their business, surely Yes. So they are getting pressure from all sides. Not just something you came to. The U. S. Is also called him out over this and they're really in a very difficult position because effectively theory some game we'll have You say that since Beijing China onside Is seen in the West to UK us being, uh, essentially going against Western policy, so there isn't really a wind for them haters. In some positions, they can take the fetal sides happy so But trying to be trying to walk a line between them, which sees the increasingly difficult Do you think things matters are going to get worse? And how does it affect the business going forwards? It's a UK bank, but that makes most of its money in Asia. Well, exactly of you should go back with the ancient history of HSBC in the late eighties early nineties recognized this issue, which is why they part of reason why they decided first byway and size of Midland Bank and build up a business. Outside of Asia more than they had at the time, and that was, in part at least a recognition that the situation could become more difficult. Posi handover of Hong Kong in 1997 Now what we've seen since 1997 attempts become a global bank has hit some some brake blocks from headwinds off late, So now they find themselves in a situation where There probably is exposed to Asia optically Hong Kong as they have ever been on that places them in a very difficult position. Because see they want to continue doing business in Hong Kong that increasing against me that they got here to the lines of China, But of course that puts a man on a collision course with Earth. With the U K and the Y the West. So how do you think that this is going to be expressed then? Potentially in earnings? I don't think we're going to really see anything. Take Lee and the earnings on this Aziz yet we're really in the Very early stages off this spook growing political contest between between China and Hong Kong itself. These Already in a family, the procession and that that is really with us China trade tensions or the problems we've we've been talking about just now, that's more to do with Corona virus before about the political people. We saw lately in Hong Kong. I think they probably were looking more 5 10 years out. It could be the case that you start to see a kind of maybe death of 1000 cups and those who have so little losses here and there now see that that is very well aware of that on there going to be looking through everything they can to make sure that that happens. Things are they increasingly difficult environments in which to do business, particularly in a country like China. Where are you? Nate is very important that You are being It seemed to be supportive off Chinese

Hong Kong China Hsbc UK Asia Harry Wilson Bloomberg Finance Reporter Midland Bank Nate Beijing LEE Aziz
China Passes Hong Kong National Security Law to Crush Threats

WSJ What's News

05:44 min | 2 years ago

China Passes Hong Kong National Security Law to Crush Threats

"Hong Kong is a global banking center home to several multinational companies. It seen by the business community as a gateway to China was so much at stake. We're taking a closer look at the impact of China's new security on the region Wall Street. Journal markets. Columnist Mike. Byrd is based in Hong Kong. He joins US NOW MIKE WELCOME! Thanks very much for having me. Mike you're on the ground in Hong. Kong you are very much in touch with the business community. Put this in perspective for us. Just how big of a deal is this? The first thing to say is that we don't have a lot of detail on what is going in this low. We know that it will have rules on secessionist Atta. Choose to subversion of the Chinese state and to some vague implications. Abou- coming under foreign influence, but we don't know the straight detail of it. The actual text of the law has yet to be published, so it's difficult for businesses to make a firm idea of of what this is going to mean for them for the moment. Moment is a lot of confusion, and it's also extremely sensitive topic, because not knowing what's in that bill means that you don't know what will be illegal to save from tomorrow. What you may encounter legal difficulties from saying a lot of international businesses staying relatively quiet about that even now organizations like the American Chamber of Commerce relatively quiet organizations that have to be fat up until now been fairly critical of the idea of the national security, though a now being very cautious about what they say. Mike as you know as we've reported a top executive from banking, giant HSBC signed a petition supporting the legislation, saying it supports any law to stabilize social order in Hong, Kong and economic prosperity and development to have that backing from HSBC. How significant is that? I think hate be. Situation has turned out to be as a bit of a microcosm for war. The problem is for businesses more broadly in Hong Kong, which is a SPEC- signed up to the idea. The national security though they had an executive sign up to that was referred to in Chinese media in state media as sort of too little too late that that support was slow that it wasn't absolute that it wasn't clear from the beginning now. Hong Kong HSBC was obviously criticize full completely the opposite for signing the bill astle is very difficult to find this sort of middle ground position that businesses like hate pc, especially those with sort of one foot in the West and one foot in China. They've done really well in the past couple of decades in Montaigne and jewel role. It's now increasingly difficult to. To do the HAGIA species come under fire from both sides for doing it. It's likely to continue doing so, and that's going to be the case for other large Hong Kong. Business as you go companies like Johnny Matheson, which are really West and run by of had a big influence in Asia for longtime. They're gonNA find it increasingly difficult to straddle both sides. I WANNA. Point out at the time HSBC said it supported laws that will enable Hongkong to rebuild its economy and maintain the principle of one country, two systems, any indication from any companies, especially those that are based in the West that they will curb their presence or scale back their presence or future business deals in Hong Kong. You've seen some smaller organizations to that. In the couple of research firms here, but people mostly stray away from saying for a couple of reasons, one thing is if you have to do business in mainland China saying that you leaving Hong. Kong because of a load of the government of mainland China wants to pass is a bad look. It's not GonNa win you any friends in the mainland. The second reason is purely cost related. It's expensive to move people and if If it becomes the case that it won't disrupt Your Business Operations you've moved people. You probably lost employees in the process. You probably lost deals in the process for no reason. as a reporter is sold. Is Covering London during twenty sixteen businesses talked a lot about leaving because of brexit talks about the risks. Relatively few of them did precisely because it's so expensive to do so disruptive if there are any circumstances in which you can stay, you probably will. And Mike as a journalist who lives in Hong Kong who is very familiar with the business community. What are the lingering questions you have? What are the unknowns that need to be answered to get scope about the significance and impact of this decision. I think the honest answer is that we won't know enough about the little to know how Lafayette businesses until it begins being enforced you have lose like this in mainland China and it's the selectiveness of their enforcement. That really matters whether it's used as the Hong Kong. Government is broadly suggesting the Hong Kong. Government. He's very keen to stress that this won't affect most people that it shouldn't affect national businesses. Many businesses may not in a cynical way mind this of law, if it really just applies to political dissidents, if it's just used to crackdown police political dissidents, and that will be the same as many businesses finding mainland China, many businesses find. Find even in places like Singapore they can live without sort of thing, but the strict text of the bill may prove to provide situations for the Hong Kong government to pursue international businesses if they wanted to. So I think we'll have to see where we are in a few months time once the lawyers and who's being caught up in it. Who's being warned about legally? WHO's actually going to call? He's being prosecuted for until that happens is going to be really difficult to say the soda scope of the Law until it actually begins to fullest. Mike Byrd joining us from Hong Kong great to have you on the podcast. Thanks very much.

Hong Kong Mike Byrd Hong Kong Hsbc China Hongkong Hsbc Executive American Chamber Of Commerce Atta Singapore Asia Johnny Matheson Montaigne Reporter London
"hsbc" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

03:44 min | 2 years ago

"hsbc" Discussed on WBZ NewsRadio 1030

"Back to the settlement show. We've been talking about the fact there's so much we don't know and so much uncertainty and why it is so difficult to make predictions. About the impact of covert 19 and every respect of our nations. Economy, financial markets. Workplace family units and so on. One thing we do know is that this year is going to set a record for bankruptcies by companies big and small. They're projecting the companies that have more than a $1,000,000,000 of debt. Are going to file bankruptcy Mohr than ever. Cos by the second quarter of this year had amassed almost $11 trillion in debt by far the most ever and 66 companies that have a 1,000,000,000 or more in debt are going to go bankrupt this year. Another 200 that have debts of 100 million or more are going to go bankrupt. Companies have been so far avoiding bankruptcy by cutting costs. They're amassing cash they're drawing on existing credit lines, furloughing workers. They're getting stimulus relief, but when all that's done They're going to have to start burning through their cash. And that's when bankruptcies air going to sore. You can expect it to start in the next 30 2 60 days. We've already seen a lot of bankruptcies. Most recently GMC closing 1200 stores in bankruptcy cruise lines have now said they're not gonna sail before September 15th. Carnival lost $4 billion in the past three months. They have over seven billion in cash, but they're burning 600 month. Carnival cruise lines will be broke in less than a year. HSBC, the Big bank. They're cutting 35,000 jobs, 15% of their work force. Giant companies are amassing cash. The S and P 500 had 4% of cash. Before the crisis. They now have 14% of their assets in cash. Pepsi has borrowed 7.5 $1,000,000,000 Hilton 1,000,000,000. The Gap two billion McDonald's five billion Intel 10 billion. They're building cash because they think they're going to need it. Well, if you think back to 2008 let me ask you He's wish you had taken a different approach. 29% now say they were wrong and how they handled their money back then, given everything that's going on 44% wish they had sold stock sooner and added additional strategies. 39% wish they had bought Maurin bonds having a plans important 88%. Say that it's important to have a financial plan because it provides peace of mind. And that's really the key. Why it is so important for you to be looking well into the future. Longview Economics just came out with a study that said 80% of the financial markets they track on a global basis. Are showing that stock values globally are in the highest valuation on record. And they think the global valuations are simply too high to be sustained. The average stock worldwide is trading at a 20 times forward price to earnings ratio. The typical is 15. The higher the number the riskier it is. And we've got To recognize the challenges here. We're going to talk about what cos they're doing with their own investment strategy. During this environment, we're going to talk about How to compare what they're doing with their investments to what you're doing with yours to help you figure out and decide if the investment strategy you're using Is the one that you should be using. We want to help you figure all that out to this pandemic is unprecedented..

Carnival cruise lines Mohr GMC HSBC Maurin Pepsi Big bank Longview Economics Intel McDonald
"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:09 min | 2 years ago

"hsbc" Discussed on Bloomberg Radio New York

"Gains aimed at that country's stock market yesterday the sector's up nearly twelve percent of the past month after a tough first quarter still recent gains haven't stopped HSBC's equity team from cutting its outlook on six of the country's largest lenders on fox but is wanting to regional markets for some dog food HSBC than just came out with this a negative view on Saudi banks you just break this down for us what what is the important takeaway here good morning you said well this is the result of a report from the I thank is the man he's an equity research analyst there and it really affects the largest six Saudi banks the thinking here pretty clear in that V. as support measures that the Saudi government has put forward including a thirteen point thirteen billion dollars support package for the banks it's a good temporarily but it's not going to support margins or credit in the long term and is a mom says this is all likely to catch up with Saudi banks in mid September in particular alone support program for small and medium sized enterprises if that gets eliminated come in September that's been a particularly impact Riyad bank Banque Saudi Fransi well all right she might be able to score a little bit some of the impact because it just has less exposure to equities that's what it would take a wait list of benchmark rise that yes the one of the one of the drivers was agility the logistics provider system what was the story well this is a really a dividend rate related momentum we saw there we knew it jealousy was going to cut its twenty nineteen dividend and it did it faster by seventy five percent but even masters who owned that stock was an extra bonus shares more than they thought they were going to receive but one thing I know about agility is it's really not held up to some of its competitors across the region in particular our next this does the stock is down eighteen percent this year and the company had projected that it would see revenue fall thirty to forty percent back in March really before we saw the huge market impact from the corona virus we haven't got updated numbers on that yet because we haven't gotten first quarter earnings we are due to see those this week next week so definitely a stock to watch from that perspective so there could be a new IPO as well emerging out of Israel tell us some of the details that yes so the company Israel aerospace industries this is a state run state owned company and this is happening as part of budget discussions actually this is the company responsible for the development of that iron dome missile defense system that we've heard so much about in the news so to the numbers seeking to sell twenty five percent stake for a raise of about a billion dollars according to some new reporting by my colleague Ivan Levingston out in Israel and this all coming about because of some of the corona virus pressures on Israel's budget the government had previously tossed around Rick potentially as I. P. owing at least a part of this company back in twenty sixteen but you know we've seen the government dysfunction there over the last couple years and that's part of what got in the way but now there's a pressing need for cash as we seek budget deficits why didn't I it is really just continuing pressure on Israel as as with so many markets and governments around the world Simone thank you very much no Foxman good to have you back on the show invasion from Qatar financial centre Intel up not genetic testing firm twenty three and me has found that certain blood types are less susceptible to contracting the coronavirus the results of the survey of hundreds of thousands of jobs that type is especially resilient the company CEO told us want to change the results may bring about our customers really rose to the challenge and they contributed to this research so seven hundred fifty thousand customers took the survey we have over twelve thousand people who said that they were had had code nineteen two thousand of them said that they were hospitalized so we were able to analyze this data we found out that blood type actually looks like it's protective it's not a huge increase in productivity but it's nine to eighteen percent less likely to to be infected and be severe so it's an important step and I want to emphasize like there's more research to be found here which is part of the reason why we're still enrolling people in the study we are offered you know for over we're giving away ten thousand kids for anybody who has been hospitalized who had voted nineteen in part because I really believe we have the potential to find you know genetic associations that will help us know who's the most vulnerable and then can we do more to financially protect those people so it's obviously good news it if you are type and I know it is very early but have you found any clues you know wish them showcasing any trends for other blood types mean anything preliminaries it looks like the other blood types again looks like it's you have a decreased risk and the others all look relatively similar so the important thing with biology and sciences first trying to understand why is it that looks like it's potentially protective in some ways or get again you have less of a risk so understanding of biology and then will that help translate into you know a genetic test that would help be able to identify people to say Hey you should really be more protective or help in in vaccine discovery or in drug discovery in anyway now what's so interesting about co the is that it can spread so fast undetected which means some people get very sick and many people don't get sick at all on the question of the hour is why you know jeans and your research in the K. eight that genes can can very much play a role here are there any other clues about the role that your own genetics can play that that's exactly what we're looking for and looking to see you know there is some semantics would be really interesting and that's why we're giving away kits because those people are so hard to find so we're saying anyone who's whether they're a customer not can participate in this kind of research and I just wanna add most a lot of infectious diseases so things like norovirus which is known as the cruise ship virus there are genetic mutations that say these individuals are significantly less likely to get the disease even things like HIV there's mutations that say people are significantly less likely to be infected with HIV who have this mutation so we're looking for that kind of mutation that would help people understand whether or not they are potentially you know significantly less at risk for getting infected now most.

HSBC
HSBC, StanChart shares rise in Hong Kong after backing China security law

Bloomberg Law

00:21 sec | 2 years ago

HSBC, StanChart shares rise in Hong Kong after backing China security law

"HSBC and standard chartered bank are backing Beijing in the standoff over a proposed new security law for Hong Kong HSBC's top executive in home computer Wong said the bank supports laws that will enable Hong Kong to rebuild its economy standard chartered bank said the proposed law can help maintain social

Hsbc Beijing Hong Kong Hsbc Executive Wong Hong Kong Standard Chartered Bank
HSBC executive Stuart Levey to run Facebook-backed Libra cryptocurrency

WSJ Tech News Briefing

00:25 sec | 2 years ago

HSBC executive Stuart Levey to run Facebook-backed Libra cryptocurrency

"On the subject of leadership changes. Facebook has hired Stuart Levy to lead its crypto currency project libra. Yep that's still a thing. Levy a former treasury undersecretary and spent the last eight years as the chief legal officer for age. Sbc experts say that by hiring former banking attorney with a background in compliance facebook hoping to make its cryptocurrency more palatable for governments

Stuart Levy Facebook Chief Legal Officer Undersecretary Treasury Attorney
HSBC sees mounting credit losses after pandemic halves first-quarter profit

Bloomberg Daybreak: Europe

01:05 min | 2 years ago

HSBC sees mounting credit losses after pandemic halves first-quarter profit

"So much now let's get back to the banking earnings from this morning Europe's biggest lenders have reported a surge in credit losses amid the corona virus outbreak HSBC taking its biggest charged about deaths in almost nine years and saying it expects credit losses to rise to as much as eleven billion dollars this year the picture was a bit better over at UBS which saw net profit surged forty percent despite concerns about income streams from its wealth management unit for more let's bring in Jonathan Tice senior analyst for European banks at Bloomberg intelligence I'm Jonathan great to have you with us I know going into this you were hoping perhaps for some sort of guidance from the transformation planned they announced back in February a lot of which has of course been put on hold because of corona virus the shares are down just a little bit today down one and a half percent in London and a what was the biggest takeaway for you what sets the scale of the credit losses that we might see in twenty twenty but also the fact that that number as CFO you Stevenson said to us on TV could be subject to change

Europe Hsbc Senior Analyst London CFO Stevenson Jonathan Tice Bloomberg
UniCredit CEO Mustier ruled out of HSBC role

BTV Simulcast

00:29 sec | 2 years ago

UniCredit CEO Mustier ruled out of HSBC role

"And unicredit CEO John Gavin was the eight hundred M. south of running for HSBC's Tom job according to sources he's decided to stay at the Italian Grand Prix shows that tumble since Britain but reported that he was the site content to become HSBC chief executive the Financial Times reports that must see a phone ages C. chairman mark Tucker on Sunday tell him he was no longer interested in

John Gavin Hsbc Tom Job Grand Prix Britain Chief Executive Financial Times Mark Tucker Unicredit CEO Chairman
Turkey central bank faces key rates decision after lira weakness

BTV Simulcast

01:27 min | 2 years ago

Turkey central bank faces key rates decision after lira weakness

"What interest rate decision that day and Turkey and economists are pretty undecided about what the central bank is going to do now nineteen out of twenty seven economists polled by Bloomberg do believe we're going to get a cut of some sort but they're not they're not in agreement on exactly what that's gonna be is gonna be twenty five basis points seventy five basis points those all in the cards there we are also seeing some names line up on the side of hold Morgan Stanley Barclays HSBC economists not so sure we see any movement at all now if you go with me into our GTV go we'll see what we've seen over the past year which is the twelve point seven five point four percentage points of interest rate cuts that then the blue there we've seen that the stock market's rise we've seen manufacturing expand but we've also seen inflation at tech higher in the white there are so will this easing program continue present everyone has some unconventional views about what monetary policy a you know does here but we may see the central banks are to react to this higher inflation rate one place we are gonna be watching though is the Turkish lira yesterday hitting a nine month low against the US dollar is the moving quite a bit so far this year weakening there and so we're we're going to be that we know which way the momentum is going here but what is the impact we see today

Turkey Bloomberg Morgan Stanley Barclays Hsbc United States
HSBC to cut headcount by 35,000, shed $100 billion in assets

Glenn Beck

00:17 sec | 2 years ago

HSBC to cut headcount by 35,000, shed $100 billion in assets

"And big job cuts are coming to HSBC bank says it will do away with as many as thirty five thousand jobs over three years as part of a cost cutting move aimed at slashing four and a half billion dollars in spending here in the USA just BC also plans to cut its retail presence by thirty

Hsbc Bank USA BC
HSBC to slash investment bank, 35,000 jobs in strategy overhaul

Charlie Parker

00:18 sec | 2 years ago

HSBC to slash investment bank, 35,000 jobs in strategy overhaul

"Thousands of bank jobs in the US and around the world are being eliminated HSBC holdings Europe's biggest bank is cutting thirty five thousand jobs over the next three years cutting back operations in the US Europe and at its investment bank it plans to invest in Asia and the Middle East

United States Europe Asia Middle East Hsbc Holdings Europe
Coronavirus threatens Apple supply chain, sales; shares drop

Marketplace Morning Report with David Brancaccio

00:29 sec | 2 years ago

Coronavirus threatens Apple supply chain, sales; shares drop

"Shares of apple are also down more than three percent in premarket trade on Wall Street. That's after the tech giant warned revenue. We'll take a hit from supply chain disruption due to the corona virus outbreak. That's also putting pressure on shares of the company's European suppliers in Asia benchmarks which closed down more than one percent. German business sentiment has also been hit by worries about how the virus will impact global trade. A key gauge of the mood among investors plunged from twenty six point seven to just eight point seven in January

Apple Asia
HSBC to stop weekend, overnight services at some Hong Kong ATMs after branches vandalized

Bloomberg Daybreak: Asia

00:59 sec | 2 years ago

HSBC to stop weekend, overnight services at some Hong Kong ATMs after branches vandalized

"Course another story reminded also monitoring of things or HSBC after the bank close of ATM services in Hong Kong yesterday some branches were also close that's after HSBC's iconic lion statues were vandalized by protesters the protesters accused HSBC of siding with Chinese authorities yeah I mean it was also hang sing bank shutting a couple of branches as well so they got roped into it they're they're owned by HSBC and I wanted to mention as well the Bar Association the law society of condemned abusive graffiti comments have been directed at a judge anti a Pang and this is an interesting and and troubling new area Kathleen that the protesters you know they're pretty much part of civil society in wanting more democracy here in Hong Kong but at the same time to coming out sometimes and criticizing the judiciary and that is is is an independent part of Hong Kong that most people quite proud of so it is

Hsbc Hong Kong Bar Association Kathleen
HSBC kicks off year with Hong Kong branches closed, vandalized

Bloomberg Daybreak: Asia

01:00 min | 2 years ago

HSBC kicks off year with Hong Kong branches closed, vandalized

"All right let's move on to to Hong Kong yes Hong Kong obviously a rock is start to the new year for Hong Kong and of course HSBC more monitoring things over at the big bank across the street from here where we are in that they break Asia studio HSBC in focus after the bank close an ATM services in Hong Kong yesterday some branches also were closed that's after HSBC's iconic lion statues Stephen and states were vandalized by protesters the protesters accused HSBC of siding with Chinese authorities yeah that was the the closing of the account of that crowd funding platform that that raise money not actually to support the protesters but for bail for protestors that were being charged by police yes and I was outside ages BC all day and it just BC public relations officials came down repeatedly to me to distance themselves or at least convey the message that they did not act in lockstep with the police

Hong Kong Hsbc Stephen Asia BC
Stock Market Rally Extends Gains

Bloomberg Daybreak: Europe

02:32 min | 2 years ago

Stock Market Rally Extends Gains

"As so he's really what about the markets this morning yes you everybody that we saw it will street overnight I mean is it the reason that is going to loss was it simply relief that the trade war isn't as bad as we might have expected what is powering of these values would come close to the end of earning season well it looks very much as if everything is driving it is simply looking at the signals of the coming from Washington and Beijing and we've heard from she's in pain speaking in Shanghai didn't mention the US specifically but he was certainly saying we're open to the global trading order and at the same time Donald trump's and yes yes China desperately wants to do so I mean all the indications that putting out there although this phase one thing is definitely going to even that that are looking for a place somewhere in the US to actually sign me up indeed that Sir let says take you to the Asian equity markets right now the embassy Asia Pacific up eight tenths of one percent the topics a jumping one point six of indicated you five up by one point seven percent I'm not quite such large gains in China but still significant guys a C. S. I. three hundred up a six tenths of one percent also the Dow Jones at yesterday climb to an all time high of beating the record that we saw in July the S. and P. five hundred and the nasdaq will say hit fresh record highs S. and P. five hundred of course went through three record highs just lost week having said that global that she's not pushing into overbooked hurt you in the M. S. C. I. A. merging markets the index the topics on the nifty fifty HSBC for example say that they'll tactically on the weights global actually say that it's time to sell risk assets the various views own what to the market rally means it turns over bond markets this morning and U. S. yields at one point eight percent so getting three basis points this morning Chinese use it three spot to five percent down four basis points PSE intervening with that costing the cost of one year funding at two banks the first time since twenty sixteen so basically that's kind of a measure that helps to alleviate concerns about tightening liquidity in China so that's what that movies what about us for the dollar fairly flat slightly weaker this morning the show you one is seven zero one so so gay three tenths of one percent the LBA stood pop busy no change that the Aussie dollar clientele not we're up three tenths of one sets what sixty nine for the old Z. Attila and gold is down three tenths of one percent even I've always see we have been say seeing the best season strides ten but we just slightly softer this morning as well prices gave around two tenths of one percent of break food this morning

One Percent Eight Percent Seven Percent Five Percent One Year
"hsbc" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:32 min | 3 years ago

"hsbc" Discussed on WAFS Biz 1190

"The next twelve months. Of next HSBC tries to reassure investors. It's still aiming to meet its he targets despite a bruising fourth quarter here. Our interview with the CFO that's next. This is Bloomberg. I was actually poor no foreplay bag with a smile on your face vulgar diseases. I'll take a tax. Seize the chance to acquaint yourself with Germany's first female Chancellor Angela Merkel A chancellorship forged in crisis. Bloomberg news correspondents, Alan Crawford, and Tony tissue ska explore Merkel's unconventional policies and potential influence as Europe struggles through a crippling crisis. Discover a fascinating leader in her political and cultural context Angela Merkel A chancellorship forged in crisis is a Bloomberg press title published by Wiley available wherever books and e books are sold. Are we still all trucks? Combinator finance sees this as a technical correction..

Chancellor Angela Merkel Bloomberg Bloomberg press HSBC CFO Alan Crawford Germany Europe twelve months
"hsbc" Discussed on Monocle 24: The Globalist

Monocle 24: The Globalist

02:16 min | 3 years ago

"hsbc" Discussed on Monocle 24: The Globalist

"And it comes after UK's annual GDP Greis slow to one point four percent last year its weakest expansion since twenty twelve so, yeah, the Brexit him passe continues with less than six weeks until Britain's sheduled departure from the year year. Our previous guests made reference to Connie the governor of the Bank of England and his predictions. He was talking about the Brexit fog, and how there is all this uncertainty surrounding what happens next in terms of of house prices, which was also mentioned I mean, those are going to drop their. Maybe loan default. This is quite a doomsday scenario that we may be looking at it is I'm still hopeful that something will be through the Bank of England is open. It's it's maintained the interest rates could move in is a direction post Brexit, and the response would not be automatic. It will be measured now no deal. Brexit would most likely lead to an easing of monetary policy. Even while the case of a deal is slower pace of hikes would be required. So the by the Bank as mindful that anything can happen is prepared to revive the way. Let's have a look at HP HSBC now HSBC mistake speculations this morning for the full year off the revenues fell severely in the final few weeks of the year amid uncertainty over global trade a slowdown in China and the possibility of Britain crashing out to the sea. We're back to it. Again. The Bank reported profit before tax of nineteen point nine billion dollars for the up about sixteen percent on twenty seventeen but Shaw. Of analysts consensus consensus estimates of twenty one point three billion. I I know we've spoken about this elsewhere in the program, but I'd love your take now on a Honda and the plant closures. Starts to motivation claim and hundred are expected to announce this morning that is gearing up to close it Swindon production plant, which will potentially result in the loss of three and a half thousand jobs and another ten thousand jobs could be under threat in the supply chains and support services. I as expected the Jew to close twenty twenty two and this will come to as a serious blow to Britain's already ailing car manufacturing industry, which has been hit by uncertainty over the UK's exit from the European Union in recent months..

Bank of England Britain Brexit UK Bank Brexit fog HP HSBC Connie Swindon Honda HSBC European Union Shaw China nine billion dollars sixteen percent four percent six weeks
"hsbc" Discussed on KQED Radio

KQED Radio

02:59 min | 3 years ago

"hsbc" Discussed on KQED Radio

"Don't know. HSBC for hard. If I got separated from my mom. And that's why we're trying to make a difference crews. A Kaiser family therapist knew the government's family separation policy would cost trauma, especially for people who had fled violence in their home countries in Central America, the ATF being separated. Apparent is just an imaginable. Who's went to Texas twice last year. Using her vacation time and money and frequent flyer miles donated by other parents at the school. So I'm gonna go as often as I can because it's amazing work and it's much needed. I wish there was more therapist. Although most family separations have stopped. The government is still detaining thousands of migrant families for weeks or even months when they do get released to join family members or sponsors across the country. Immigration officials typically drop off the families at the greyhound station in San Antonio Cruz joins other volunteers there who hand out food water and backpacks. One Roach is with races nonprofit that provides legal assistance to the families. There is so much trauma experienced by the time that they get to the bus stations that all we can do is because of it her some simple comforts, and then just among their way. What crews can offer is a listening ear and some advice to parents about how to cope when their children act out their anger or anxiety from what they've been through. Sometimes she just has five minutes with a family. But if there's time she takes them for stroll under the trees along San Antonio's river walk. A few blocks from the bus station. She says that's often the first time she sees the children smile. I'm Julie small K Q E D news to Oakland. Now where the city council will be getting some new faces this year. In fact, all three of the seats up for grabs in this past election. Went to newcomers santia Dirks introduces us to the two new council members who pulled off a rare feat in Oakland, politics, beating an incumbent. We start the story with a politician at all, but with an activist John Jones the third. Thank you all for coming into ponder. Friday's Jones has one of those amazing stories. He went from being incarcerated being a leading an omnipresent, Oakland activist. He's been helping run these once a month Friday events at the east side cultural center, really talk local politics with people from the community. This is the first time, I know. I'm on a long time that two incumbents as they were defeated and the two people who had defeated them are St. here today along with about a dozen curious. Neighbors are council member elects Lawrence Taylor more on him later, and Nikki Fortunato bath. So no further ado. Nikki Jones gets really excited when he introduces the new district to council member Jones's tall and broad shouldered Fortunato bath is tiny. She gets engulfed as Jones gives her a big hug and.

Nikki Jones Oakland Roach Nikki Fortunato HSBC San Antonio Cruz ATF Texas San Antonio Lawrence Taylor Central America santia Dirks five minutes
"hsbc" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:30 min | 3 years ago

"hsbc" Discussed on Bloomberg Radio New York

"Conversations from Bloomberg television. Here's Yvonne, man. So does Frederic Neumann HSBC co head of Asian economics tells what's at stake for Taiwan economy there. I mean, we've seen kind of at least maybe twenty years of growth, pretty subpar. There's a lot of concerns that there's an overreliance on tech over reliance on China, as well, what what are the prospects to you what one thing this has been as John sucking sound from China. Right. Some jobs and investment has moved to the mainland, and I even young people move to the mainland drawn to the job opportunities there, and that has sapped even domestic demand and Taiwan curb the the growth rate having said that Taiwan still has very competitive companies, very competitive sectors semiconductor manufacturing, for example, some of the best companies in the world residing. In taiwan. So there's a lot that Taiwan's still has to bring to the table, and it is large attack economy. But but it is something that is still a cutting edge. If he will it still the cutting edge of of tech, trade wise, it's balked me. Worse than his eye. Joe Biden does what it does. Well, yeah. It's it's a sentiment issue. Right. So the policy uncertainty, a restraining investment across the region, and you haven't seen that bigger deceleration trade yet, but he's certainly have seen deceleration investment. You're more interviews like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Global.

Taiwan Bloomberg Frederic Neumann HSBC co Joe Biden China Yvonne Asian economics John twenty years