HSBC cuts bonuses and senior managers in strategy overhaul
The lender said on Tuesday it had cut its bonus pool for 2019 by 4% to reflect poor performance and warned its investment bank will take a hefty proportion of the around 35,000 job cuts it expects over the next three years - many at its headquarters in London's Canary Wharf financial centre.
India FIIs’ favourite EM in Asia, flows likely to remain resilient: HSBC
The Nifty has gained almost 14 per cent since the corporate tax cut in September 2019.
Economic fallout from Coronavirus grows
Jaguar Land Rover warned that the coronavirus could soon begin to create production problems at its assembly plants in Britain. Like many carmakers, Jaguar Land Rover uses parts made in China, where many factories have shut down or slowed production; Fiat Chrysler, Renault and Hyundai already have reported interruptions as a result.
HSBC to shed assets worth $100 bln and slash 35,000 jobs over three years
The bank, which has long underperformed rivals, is seeking to become leaner and more competitive as it tries to grapple with a swathe of challenges: slowing growth in its major markets, the coronavirus epidemic, Britain's withdrawal from the European Union as well as lower central bank interest rates.
Income Tax dept issues notices in 422 cases for undisclosed foreign assets
Undisclosed income of more than Rs 8,460 crore has been brought to tax and penalty of more than Rs 1,290 crore has been levied, on deposits made in unreported foreign bank accounts in HSBC cases. About 204 prosecution complaints have been filed.
PNB seeks IRDAI forbearance for paring stake in Canara HSBC OBC Life
Oriental Bank of Commerce (OBC) currently holds 23% stake in Canara HSBC OBC Life Insurance. Besides, another public sector lender Canara Bank has 51% stake and HSBC Insurance (Asia Pacific) Holdings Limited as foreign partner owns 26%. Already, PNB is a promoter of PNB Metlife Insurance with highest stake of 30 per cent.
Brokerages have a mixed view on Sun Pharma
Shares of the drug maker ended down 0.12% at Rs 430.45 on Friday.
NPCI appoints new Chief Risk Officer
His responsibility also includes shaping the organization’s risk culture by setting up an effective top down approach for developing functional risk champions along with creating organization-wide risk awareness programme.
Indian-origin financier suspended for stealing canteen food: Report
Shah's online profile says he went to school in north London and went on to graduate with an honours degree in economics from the University of Bath in 2010. He joined HSBC's fixed-income trading division the same year before joining Citi in 2017, where is believed to be in a job that could pay up to 1 million pounds a year including bonuses.
Adani Transmission raises $310 million
According to sources close to the transaction, global investors such as Barings, Cigna, HSBC Global Asset Management and MetLife have bought the 30-year amortising debt. Covenants include the requirement of a debt service coverage ratio, cash trap, and comprehensive compliance certificates every six months.
Equity market wants incentives for private capital to start investing again: Tushar Pradhan, HSBC Global
If the fiscal deficit stays below 4% but over 3.3% to 3.7- 3.8%, the bond market may not like it.
HSBC Securities maintains ‘Buy’ on L&T Finance Holdings, target price Rs 150
The brokerage said in the third quarter, L&T Finance delivered stable results despite an uncertain environment.
HSBC Securities maintains buy on Wipro, target price Rs 270
Shares of Wipro closed at Rs 248, down 3.5%.
KEI Industries raises Rs 500 crore via QIP
The issue was of Rs 400 crore with a green shoe option of another Rs 100 crore.
HSBC maintains buy on Voltas, raises target price to Rs 735
HSBC sees only a limited challenge to Voltas’ market share and profitability as its margins are not very high.
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