What next for HSBC after preventing Ping An from carving up top Hong Kong lender

scmp.com HSBC’s Asia operations are ‘motoring’ as the lender looks to future growth from its biggest revenue driver, but will the bank’s improved performance and promises of bigger…

HSBC increases interest rates on some savings accounts

theguardian.com Customers of HSBC will receive a boost to their savings after the bank announced an increase to interest rates, as Britons enjoy some of the highest rates in more than a…

The uber-wealthy are doing just fine and Wall Street is cashing in

edition.cnn.com A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the…

Oil prices rise as Congress approves US debt ceiling bill

investing.com Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive…

Will OPEC+ announce more output cuts? Analysts have their say

reuters.com The Organization of the Petroleum Exporting Countries with Russia and other allies, or OPEC+, meet on June 4 to discuss whether additional oil production cuts should be…

Stalling China Recovery Deals A Blow To European Stocks

zerohedge.com Stalling China Recovery Deals A Blow To European Stocks By Michael Msika, Bloomberg markets live reporter and strategist With alarm bells sounding in various corners of…

OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say

theglobeandmail.com OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the…

Oil rises on potential U.S. rate hike pause, debt bill passing

investing.com Oil prices rose on Thursday, reversing earlier losses, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism…

Analysis: US corporate debt binge could be hard to sustain

reuters.com Large U.S. companies have been on a bond issuance binge but this rapid pace in supply may be hard to sustain ahead of expected volatility related to extending the U.S. debt…

Oil falls after large surprise build in US crude stocks

yahoo.com FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland (Reuters) - Oil prices dipped in early trade on Thursday for the third straight session after data showed…

OPEC+ Meeting: No Crude Production Change Seen Even As Oil Prices Fall

investors.com U.S. oil prices continued to pull back Wednesday ahead of the Organization of the Petroleum Exporting Countries and its allies, including Russia, (OPEC+) meeting this…

Bud Light parent Anheuser-Busch sees $27 billion gone, shares near bear market

foxbusiness.com Two months ago, Bud Light rolled the dice on a marketing push involving transgender activist Dylan Mulvaney, a move that has been met with customer pushback, boycotts and a…

Oil falls on weak China data, stronger US dollar

reuters.com Oil prices fell on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears. Brent crude futures for August delivery were down 37…

Billionaire investor Mark Mobius says he's been able to get his money out of China, but investing in the country is still a 'dilemma' amid national security…

businessinsider.com Mark Mobius Richard Brian/Reuters Mark Mobius said in an interview with Fox Business that he was finally able to get his cash out of China. He previously had trouble…

Bank of England to take Bank Rate to 5.00% next quarter as inflation proves sticky: Reuters poll

reuters.com The Bank of England will be far more aggressive in policy tightening than previously thought as it battles to contain stubbornly-high inflation running at the joint-highest…

From Elon Musk to Jamie Dimon, CEOs flock to China as risks to trade and investment rise

cnn.com The CEOs of some of America’s biggest companies are in China this week to take the pulse of one of their top markets after the country reopened following nearly three years…

HSBC’s US$3 billion fund targets China’s start-ups as new economy’s role grows

scmp.com HSBC, Hong Kong’s biggest lender, will upsize its lending scheme tailored for start-ups to US$3 billion as it expands its support to technology and new economy companies in…

HSBC Will Rechristen UK Arm of Silicon Valley Bank

pymnts.com HSBC is reportedly set to rename the U.K. arm of Silicon Valley Bank (SVB). The European banking giant will next month announce the rechristening, dubbing the bank HSBC…

ChatGPT can pick stocks better than your fund manager

cnn.com A basket of stocks selected by ChatGPT, a chatbot powered by artificial intelligence (AI), has far outperformed some of the most popular investment funds in the United…

Despite world-beating growth, India's lack of jobs threatens its young

reuters.com [1/4] Nizamudin Abdul Rahim Khan, 23, a worker, poses for a photograph in an alley at a slum area in Mumbai, India, May 20, 2023. REUTERS/Niharika Kulkarni MUMBAI, May 30…

The Most Important Bank in the World

netinterest.co Each year, usually in the fall, a team of analysts gathers in Basel, Switzerland to determine which bank in the world is the most important. Armed with pages of financial…

HSBC to rename British arm of Silicon Valley Bank next month- Sky News

reuters.com is set to announce next month that the UK arm of Silicon Valley Bank will be renamed HSBC Innovation Banking, Sky News reported on Monday. The British government and the…

Is Chevron Stock A Buy Or A Sell Right Now After Bolstering Assets With $6 Billion Deal?

investors.com Dow Jones energy giant Chevron (CVX) was a strong candidate for investors looking to grab a piece of the 2022 energy bonanza, with CVX rising more than 50% even as the…

Source: HSBC intends to rebrand Silicon Valley Bank UK as HSBC Innovation Banking, and plans to announce the change during London Tech Week in June

sky.com HSBC will next month unveil a new name for the technology-focused bank it rescued earlier this year after its US parent collapsed. Sky News has learned that Europe's biggest…

4 big deal reports: Chevron scoops up PDC Energy for $6.3B By

investing.com Here is your Pro Recap of the 4 head-turning deal dispatches you may have missed this week: Chevron to acquire PDC Energy, RenaissanceRe to buy AIG's treaty reinsurance…

Concern about TD's anti-money laundering controls? What we know about the new twist in the failed First Horizon deal

financialpost.com Here’s what you need to know about the latest twist in TD’s failed expansion bid: There’s more than one ‘hot button’ issue TD and First Horizon weren’t specific about why…

Five French banks raided in alleged tax fraud investigation

euronews.com Several searches wer carried out in five French banks in Paris on suspicion of aggravated tax fraud. Authorities raided the Paris offices of five banks Tuesday on suspicion…

New York City is withholding new deposits at five banks accused of inaction on discrimination

yahoo.com New York City is taking its business away from banks that lack anti-discrimination plans. Following the first-ever public hearing held by the New York City Banking…

CMA report provisionally finds that Citi, Deutsche Bank, HSBC, Morgan Stanley, and Royal Bank of Canada breached competition laws in gilts-related activity

thetradenews.com The UK’s Competition and Markets Authority (CMA) has confirmed that five banks – Citi, Royal Bank of Canada, Deutsche Bank, HSBC, and Morgan Stanley – have been…

Agency news you need to know this week

adage.com Vaishali Sarkar, CEO of Wunderman Thompson and VMLY&R Indonesia, is taking a new role as president of Wunderman Thompson Canada. She assumes the role vacated by Jeff Dack,…

First Republic: 1,000 jobs cut by new owner JP Morgan

bbc.com JP Morgan confirmed that it was cutting roles that were held by workers at the San Francisco-based bank but did not put a figure on the job losses. "Since our acquisition of…

Germany’s GDP Prospects Lack Economic Catalysts of Recent Quarters

wsj.com Germany’s first-quarter gross domestic product downgrade is especially disappointing given that some growth-curbing factors such as supply-chain disruptions in the…

Silicon Valley Bank Employees Laid Off by New Owner

sfstandard.com First Citizens BancShares Inc.—which purchased the assets of Santa Clara-based Silicon Valley Bank in March after its dramatic collapse—has laid off about 500 former SVB…

Bank of American leads $35 million Series D funding round for OpenFin

thetradenews.com for enterprise productivity OpenFin has secured $35 million in a Series D funding round led by Bank of America, with significant participation from Pivot Investment Partners…

Silicon Valley Bank: 500 jobs cut by new owner First Citizens

bbc.co.uk The new owner of Silicon Valley Bank's (SVB) US operations, First Citizens, is cutting around 500 roles held by former SVB workers, the BBC understands. The failure of SVB,…

Fiona Sit Reflects on 20 Years of Music: ‘I’m Determined to Find My Own Voice’

billboard.com At the end of last year, singer/actress Fiona Sit was in the midst of filming the TV show Memories Beyond Horizon when tragedy struck. Her father became ill and was admitted…

Five Banks Unlawfully Shared Information on Government Bonds, U.K. Regulator Says

wsj.com The U.K.’s Competition and Markets Authority on Wednesday said it has provisionally found that Citi , Deutsche Bank , HSBC , Morgan Stanley and Royal Bank of Canada broke…

Asia-focused HSBC puts 12 countries on exit watchlist

reuters.com is reviewing a possible exit from as many as 1 in 5 of the countries the lender operates in to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery…

The backdrop for stocks is as muddy as ever

marketwatch.com Look around and that long awaited recession just hasn’t come, not in the U.S., and not many other places either, with the International Monetary Fund on Tuesday saying it…

HSBC Hong Kong Debuts POS Financing for B2B Sales

pymnts.com The Hong Kong arm of banking giant HSBC has launched a B2B transaction financing tool. The new offering lets B2B sellers on online platforms offer customers extended payment…

The Morning Risk Report: SVB’s New Owner Sues HSBC for Poaching Key Bankers

createsend.com Good morning. In a lawsuit filed Monday in U.S. District Court in northern California, First Citizens is suing HSBC for more than $1 billion, alleging an illegal “scheme to…

JPMorgan's Jamie Dimon just sounded off on what it takes to be a good CEO

businessinsider.com Hiya! Dan DeFrancesco in NYC, and I'm feeling pretty self conscious about my wardrobe after reading this story about what I shouldn't be wearing this summer. (Sorry, but you…

Wednesday Premarket Newsmakers: Why Oil Prices Are Rising Again

247wallst.com Premarket action on Wednesday had the three major U.S. indexes trading lower. The Dow Jones industrials were down 0.24%, the S&P 500 down 0.22% and the Nasdaq 0.13% lower.…

Deutsche Bank and Citi admit anti-competitive activity in UK bond market

cnn.com Deutsche Bank and Citigroup have admitted anti-competitive activity by exchanging sensitive information on UK government bonds between 2009 and 2013, Britain’s anti-trust…

Deutsche Bank, Citigroup admit anti-competitive bond market activity in British probe

theglobeandmail.com Deutsche Bank DB-N and Citigroup C-N admitted anti-competitive activity by exchanging sensitive information on U.K. government bonds between 2009 and 2013, Britain’s…

Major banks shared sensitive bonds information in online chats, CMA finds

theguardian.com The UK’s competition watchdog has provisionally found that five major banks broke competition law by unlawfully exchanging sensitive information about British government…

HSBC, 4 other banks broke UK competition law with bond-trading communications: regulator

scmp.com Deutsche Bank alerted the CMA to the alleged unlawful activity and Citi applied for leniency during the inquiry, with both banks admitting to being involved in…

HSBC, Citi, Deutsche Bank, Morgan Stanley and RBC traders broke competition law, watchdog finds

reuters.com [1/3] A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu LONDON, May 24 (Reuters) -…

OpenFin’s attack on the ‘toggle tax’ in financial apps secures it a $35M Series D round

techcrunch.com Not unlike a post-Internet-era Bloomberg Terminal, OpenFin was a startup which joined the revolutionary world of user interfaces to fast-moving information, back in 2010. If…

Chevron Stock Upgraded To A Buy After $6 Billion PDC Energy Deal

investors.com stock has been upgraded by analysts following the energy giant's Monday announcement it acquired PDC Energy (PDCE) in a $6.3 billion deal, bolstering its U.S. oil and gas…