Hints and tips:
...The dominant local players “have a significant home field advantage”, said one former senior Wall Street executive who worked for years at an overseas bank....
...David Bell: It will stagnate, probably doing as badly as other advanced countries (USA excepted)....
...With the launch of its mobile banking platform, Spruce, the 67-year-old firm is joining a crowded field of fintech challenger banks hoping to take share from traditional retail banks by offering low-cost...
...Valuation and recommendation: HSBC’s shares have fallen by 42% year-to-date versus a 51% fall in the average share price of the other mainstream UK banks....
...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....
...Whilst we have a BUY rating on the name, it is hard to see how this is not an obvious and relatively more significant event for HSBC given the outperformance of the name YTD (-23% v SX7P down 38%; LLOY down...
...The energy transition strategy update in March is key to becoming more positive on the stock, absent a V-shaped recovery for their O&G customers. Glaring value?...
...Just 30% expect a V shaped recovery in the stock market....
...“He said to me, ‘Look, the building is being assaulted by the cannons,’ which were two gantries at HSBC [next door], and by the sharp corner of the triangular Bank of China building [beyond that]....
...(FT, NYT, USA Today) In other developments: HSBC has evacuated dozens of staff from its office in London’s Canary Wharf after a staff member reported a confirmed case of coronavirus....
...Persimmon trades on the highest P/NAV, but its land bank and margins warrant that....
...Simon Wells, chief European economist at HSBC: The UK is experiencing two large economic shocks: Covid-19 and a fairly hard Brexit....
...Two #fintechFT field agents recently visited a Bank of America branch in Charlotte, North Carolina with an interesting feature. There was no one working in it....
...Comment from WendellMurray on Donald Trump’s diplomatic turn to N Korea deserves acclaim I have never understood the refusal of the USA government to talk to the North Korean government....
...A representative for the actress told USA Today: “Fran and Oscar are happily reunited and are enjoying an In-N-Out burger together.”...
...This brightening picture has attracted Ping An, China’s biggest insurer, to build up a stake of more than 5 per cent in HSBC, becoming the bank’s second-biggest shareholder....
...Banks still under investigation by the DoJ include the Swiss unit of HSBC, Europe’s biggest lender....
...Imagination’s net debt swelled by 21 per cent to £33m, but HSBC waived the breach of its banking covenants, following a fee payment....
...Ralph Atkins Earnings BNP Paribas Q1 €1.07 (€1.27) BMW Q1 €2.63 (€2.30) Commerzbank Q1 €0.17 (n/a) HSBC H1 $0.33 ($0.48) Infineon Tech Q1 €0.14 (€0.13) Lufthansa Q1 €0.03 (-€0.17) UBS Q1 SFr0.30...
...chief economist, HSBC Investment Bank Real incomes are likely to be squeezed thanks to a rise in headline inflation stemming from the impact of sterling’s fall in pushing import prices higher....
...The PRA might then resume its stately bump ’n’ grind for another year or so....
...At a Swiss private bank? One is shocked. Shocked! HSBC has admitted to “compliance and control failings” at a Swiss offshoot, following allegations that the subsidiary helped foreigners avoid tax....
...The directors and one investment bank, Moelis, settled before a trial. But another bank, Royal Bank of Canada, contested the charges in court and winded up losing....
...This will raise an additional £925m a year for the Treasury by 2016-17, and will cause some banks — notably HSBC and Standard Chartered — to wonder whether it would be nicer to be headquartered elsewhere...
...No state or federal funds were involved: it was funded by a $35m bond, which was bought in its entirety by Bank of America after failing to find other investors....
International Edition