By Simon Clark Close Simon Clark Oct. 27, 2020 4:27 am ET LONDON— HSBC HSBC -0.72% Holdings PLC’s net profit fell in the third quarter as the coronavirus ravaged the global economy and political tensions between the U.S. and China intensified over Hong Kong.
“Geopolitical risk, particularly relating to trade and other tensions between the U.S. and China, remains heightened,” HSBC said Tuesday. “Investor and business sentiment in some sectors in Hong Kong remains dampened and ongoing tensions could result in an increasingly fragmented trade and regulatory environment.”
HSBC’s decadeslong strategy of expanding across Europe, Asia and the Americas is “defunct,” Manus Costello, a banking analyst at Autonomous in London, wrote in a note in September. “The intention to generate profits from outside Asia has largely failed.”
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The only organisations to benefit from this pandemic exploit the vulnerable
HSBC needs to sell the Americas business. Exit USA, Canada, México and other small operations in LATAM
Similarly, wsj's coverage of CrookedJoeBiden's nefarious activities fell, even as Biden's corruption became more and more obvious. In both cases, HSBC and WSJ, fighting an uphill battle against reality and losing all integrity.
thank you very much for your work
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