HONG KONG, Oct 25 — HSBC is emerging from its coronavirus and restructuring troubles to become more reliably profitable, boss Noel Quinn said today as he announced the start of a US$2 billion share buyback.
“While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us,” Quinn wrote in a note attached to the bank’s third-quarter results. Weighed down by low interest rates, it is planning to seek out more fee-based income, especially wealth management for Asia’s increasingly affluent.
HSBC’s historical and present-day connections to China are both its major selling point and a source of vulnerability.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pelosi says ‘we’re almost there’ on huge US legislative bills | Malay MailWASHINGTON, Oct 24 — After months of fierce political wrangling, House speaker Nancy Pelosi said today that she expects agreement on a huge social spending package and a vote on a major infrastructure package this week, adding, “We’re almost there.” US President Joe Biden had been intent on...
Source: malaymail - 🏆 1. / 86 Read more »
Verstappen holds off Hamilton to win US Grand Prix thriller | Malay MailAUSTIN, Oct 25 — Max Verstappen held off a charging Lewis Hamilton to win the United States Grand Prix on Sunday and extend his Formula One world championship lead to 12 points. Verstappen, in a Red Bull, claimed his first victory at the Circuit of the Americas in front of 140,000 fans. Mercedes...
Source: malaymail - 🏆 1. / 86 Read more »
Michael Jordan sneakers sell for nearly US$1.5m, an auction record | Malay MailNEW YORK, Oct 25 — A pair of sneakers worn by NBA superstar Michael Jordan early in his career sold for nearly US$1.5 million (RM6.2 million) on Sunday, setting a record price at auction for game-worn footwear, Sotheby’s said. The red-and-white shoes were worn by the iconic player in the fifth...
Source: malaymail - 🏆 1. / 86 Read more »
Ringgit falls against US dollar at opening | Malay MailKUALA LUMPUR, Oct 25 — The ringgit depreciated against the greenback at the opening on Monday, with investors waiting on the sidelines ahead of the Budget 2022 tabling on Oct 29, said a dealer. At 9.01am, the local unit stood at 4.1505/1540 versus the greenback from 4.1490/1520 last Friday. He...
Source: malaymail - 🏆 1. / 86 Read more »
US to begin UK appeal against Assange extradition block | Malay MailLONDON, Oct 25 — The United States government will on Wednesday begin an appeal to extradite WikiLeaks founder Julian Assange to face trial for publishing military secrets, after a British judge blocked a request earlier this year. Washington said after the decision in January that it was...
Source: malaymail - 🏆 1. / 86 Read more »
US nuclear envoy visits S.Korea amid N.Korea missile tension, stalled talks | Malay MailSEOUL, Oct 23 — The US envoy for North Korea arrived in South Korea today amid stalled denuclearisation talks and tension over Pyongyang’s recent missile tests. Special Representative Sung Kim’s visit came days after North Korea fired a new submarine-launched ballistic missile, which prompted...
Source: malaymail - 🏆 1. / 86 Read more »