Hints and tips:
...Mentioned in this podcast: Shortage of young accountants leads BDO USA to double offshore workforce Brazil’s jewellery scandal adds to Jair Bolsonaro’s legal woes UK banks tighten up on work from home...
...HSBC USA is in the process of selling hundreds of millions of dollars of commercial real estate loans, potentially at a discount, as part of an effort to wind down direct lending to US property developers...
...Jerry Rizzieri, head of Mizuho Securities USA, told the Financial Times the acquisition would contribute to Mizuho’s goal “to be solidly inside the top 10 corporate investment banks within three years”,...
...HSBC USA is in the process of selling off hundreds of millions of dollars of commercial real estate loans, potentially at a discount, as part of an effort to wind down direct lending to US property developers...
...Credit Suisse and HSBC have fired employees found to have used unapproved messaging applications with clients....
...David Bell: It will stagnate, probably doing as badly as other advanced countries (USA excepted)....
...“It is significant in the sense of where [HSBC] is allocating its future,” a senior figure at another bank said....
...Arthur Smith, chair of Tinopolis USA, was also owed a similar sum....
...They’re all made in the USA. Bankers told DD’s Ortenca Aliaj and James Fontanella-Khan that the US economy and consumer have remained robust....
...We successfully secured the sale of the UK arm of Silicon Valley Bank to HSBC, so the future of those companies is now safe in the hands of one of Europe’s biggest and most creditworthy banks....
...Simon Wells, chief European economist at HSBC: The UK is likely to underperform the eurozone through 2023....
...The so-called “Big Four” high street banks — Barclays, HSBC, NatWest and Lloyds — all grew out of regional lenders such as the 19th century Birmingham and Midland Bank, which eventually became HSBC UK....
...HSBC HSBC first dipped its toe into the US market by taking a 51 per cent stake in Marine Midland Bank in 1980, buying the rest of the Buffalo, New York-headquartered lender in 1987....
...The move follows a trend of European banks such as HSBC and Deutsche Bank reducing their US presence after finding it difficult to compete with larger and better capitalised rivals....
...They illustrate their argument by comparing the paths to success of the richest people in Mexico and the USA (p39)....
...During his 30-year career in banking Mr Livingstone has also worked for Credit Suisse — where he was vice-chairman of European investment banking, capital markets and head of regional M&A — as well as HSBC...
...HSBC North America’s total loan book, on a risk weighted basis, was almost $129bn at the beginning of the stress tests, while Santander USA’s was almost $119bn....
...Companies are also responding to the mood shift from banks....
...We see $19bn net revenue from sports betting in the USA by 2023, equivalent to a $5bn EBITDA opportunity....
...António Simões, HSBC’s former head of private banking, will join in September with a mission of bringing its various European businesses — including banks in Spain, Portugal, Poland and the UK — closer together...
...This highlights the need for more efficient food supply chains, according to HSBC Global Research....
...Mr Burke, 57, chief executive of HSBC USA since 2014, will retire in October and be replaced by an outsider, Michael Roberts, who previously led Citigroup’s global corporate bank....
...The London-headquartered bank said Patrick Burke, 57, who has worked for HSBC since 1989, would retire as chief executive of HSBC USA in October and be replaced by Michael Roberts, an executive who has worked...
...HSBC, in common with its UK bank peers, suffered the “mandated” cancellation of its 2019 final dividend and a “block” on dividends during calendar year 2020....
...● Fevertree Drinks was under pressure after industry data suggested tough recent trading for the tonic water maker, in spite of the warm August bank holiday....
International Edition