Hints and tips:
...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...
...Corporation tax is a tax on investment not on shareholders, corporation tax revenue should be reduced to zero....
...As a proportion of GDP our debt remains lower than the USA, Canada, France, Italy and Japan....
...Simon Wells, chief European economist at HSBC: The UK is likely to underperform the eurozone through 2023....
...Our current FY21E estimates effectively assume flat admissions versus FY19 (which were 14% below FY18 in the USA)....
...(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....
...Simon Wells, chief European economist at HSBC: The UK is experiencing two large economic shocks: Covid-19 and a fairly hard Brexit....
...A reform of US corporation tax would reduce the competitive advantage of the UK’s present corporation tax policy....
...George Osborne quoted Shakespeare’s Henry V as he delivered the last Budget of this administration....
...I would do it as early as January but, corporations and consumers in the UK need to be well prepared for the first rate hike in this cycle....
...HSBC’s most high-profile US mishap came in 2003, when it spent $14bn to buy Household International, a subprime credit card and mortgage lender....
...The bank is further shrinking HSBC Finance Corporation, its US-based credit card and mortgage lender, which has suffered mounting losses as a result of the subprime mortgage meltdown and subsequent US recession...
...Besides the credit card business, it will still own HSBC Bank USA, which has a branch network mostly in the New York area....
...Stephen King, HSBC Growth rates may be normal but the level of activity will not be....
...Also, is the UK residential mortgage-backed securities market still active at all?Ian H, Gloucester NB: So far, the prime mortgage market has not been hit that hard....
...This is already permitted in both Eire and the USA....
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