HSBC said on Tuesday that its reported pre-tax profit for 2017 stood at US$17.2 billion, up 141 per cent on the equivalent figure for 2016, when the bank booked losses on a number of one-off items. The market, however, reacted badly to the announcement ... ( read original story ...)
Hong Kong Disneyland Proclaims Recovery, as Losses Deepen
Asian theme park, Hong Kong Disneyland is “back on (a) trajectory of growth,” operators proclaimed on Tuesday. But losses in 2017 doubled to $44.4 million (HK$345 million) in the year to September 2017, up from $22 million (HK171 million in 2015-2016). ( read original story ...)
Hong Kong Disneyland falls further into red as losses double in 2017 to hit HK$345 million
Hong Kong Disneyland Resort lost some of its magic on Tuesday when it revealed its financial deficit had more than doubled in 2017 to hit HK$345 million (US$44.1 million). The Lantau Island theme park, in which the Hong Kong government is the ... ( read original story ...)
Nirav Modi’s Taiwan, Surat, Hong Kong and Dubai connections
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe. Documents accessed by Business Standard show some of the Hong Kong-based entities to which at least $45 million was paid in less ... ( read original story ...)
Don’t pit sports against housing, Hong Kong Golf Association head says as task force eyes Fanling course
Don’t pit golf against the city’s need for more homes, the Hong Kong Golf Association head said on Tuesday as he urged the government to look for land elsewhere to deal with the housing shortage. The association’s CEO, Danny Lai Yee-june, said ... ( read original story ...)
HSBC annual profit rises as Asian growth drives earnings
HONG KONG — HSBC said Tuesday that profits rose on strong earnings from Asia, in the latest sign that the London-based global bank’s restructuring to focus even more on the region is paying off. The bank said pretax profit, after adjusting for one-off ... ( read original story ...)
HSBC annual profit disappoints, plans up to $7 billion capital raising
HONG KONG/LONDON (Reuters) - HSBC Holdings (HSBA.L) reported a jump in annual pre-tax profit that missed expectations and unveiled a plan to raise up to $7 billion over the next four months to bolster its capital base, as the bank prepares for growth under ... ( read original story ...)
HSBC’s departing boss Stuart Gulliver doubles profits but misses City expectations
However both the revenue and profit figures fell short of analyst forecasts, causing HSBC's share price to fall more than 1.5pc in afternoon trading in Hong Kong. “HSBC is simpler, stronger, and more secure than it was in 2011,” Mr Gulliver said. ( read original story ...)
Global bank HSBC reports 2017 pretax profit rose 11 per cent
HONG KONG — HSBC says its annual pretax profits rose by 11 per cent on strong earnings from Asia, in the latest sign that the London-based global bank’s restructuring to focus even more on the region is reaping further dividends. The bank said Tuesday ... ( read original story ...)
HSBC’s 2017 profit jumps but below view, plans $5 billion-$7 billion capital raising
HONG KONG (Reuters) - HSBC Holdings’ (HSBA.L) pre-tax profit for 2017 more than doubled due to the absence of hefty restructuring costs incurred in the prior year but still lagged expectations as the bank took a writedown following U.S. tax changes. ( read original story ...)
HSBC Holdings 2017 pre-tax profit jumps 142% percent
Hong Kong: HSBC Holdings’ 2017 pre-tax profit rose 142 percent as the lender avoided the multi-billion dollar restructuring costs that marred its 2016 results but the profit growth lagged expectations as it took a writedown following U.S. tax changes. ( read original story ...)
HSBC more than doubles pre-tax profit in 2017; plans US$5b-$7b capital raising
HONG KONG (REUTERS)- HSBC Holdings' pre-tax profit for 2017 more than doubled due to the absence of hefty restructuring costs incurred in the prior year but still lagged expectations as the bank took a writedown following US tax changes. Europe's biggest ... ( read original story ...)
HSBC’s Gulliver signs off with a HK$66m pay packet
Outgoing HSBC Group chief executive Stuart Gulliver drew a salary package of £6.08 million (HK$66.05 million) in 2017, compared with £5.67 million in the year before. The package includes a base salary of £1.25 million and an annual bonus of £2.12 ... ( read original story ...)
Hong Kong’s Hang Seng Bank beats forecasts with 23 per cent profit rise, says to expand fintech
“As Hong Kong’s leading domestic bank, we will launch more fintech initiatives that align with our customer-centric business strategy to help drive in a new era of ‘smart banking’ in our city,” she said. The bank will also launch second public ... ( read original story ...)