HSBC also pointed out it managed to increase market share in Hong Kong and Singapore. The bank confirmed last year it would keep its European headquarters in London, despite Britain's vote to leave the European Union. But announcing the results on Tuesday ... ( read original story ...)
HSBC's 2016 pre-tax profit slumps 62 percent; sets new $1 billion share buy-back
HONG KONG HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates due to one-time charges related to some businesses, and announced a new $1 billion share buy-back. Europe's biggest bank by ... ( read original story ...)
HSBC's Hong Kong shares down 3.5 pct after 2016 profit slump
HONG KONG Feb 21 Shares in HSBC Holdings Plc were down 3.5 percent in afternoon trading in Hong Kong on Tuesday after the bank posted a bigger-than-expected drop in its 2016 pre-tax profit. HSBC reported a 62 percent slump in annual pre-tax profit that ... ( read original story ...)
HSBC says 2016 net profit plunged 82% to $2.48billion
Hong Kong: Global banking giant HSBC said Tuesday that net profit for 2016 fell 82 percent from the previous year, calling it a period remembered for its "largely unexpected economic and political events". The net profit of $2.48 billion compared with $13 ... ( read original story ...)
HSBC's 2016 pre-tax profit falls 62 percent on one-time charges
HONG KONG HSBC Holdings' (HSBA.L) 2016 pre-tax profit fell 62 percent, below analysts' estimates, as it grappled with slowing economic growth in its core markets of Hong Kong and Britain and took one-time charges related to some of its businesses. ( read original story ...)
HSBC says net profit dived 82% to $2.48 billion last year
HONG KONG: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and political events", while it warned of further uncertainty this year. The net profit of $2.48 billion compared with ... ( read original story ...)
HSBC says net profit dived 82 per cent to $2.48 bn last year
Group chairman Douglas Flint says geopolitical changes contributed to volatile financial market conditions. Hong Kong: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and ... ( read original story ...)
HSBC Slips After Reporting 62% Fall In 2016 Profit
HSBC‘s Hong Kong-listed stock (5.Hong Kong/HSBC) tumbled 3.6% on Tuesday afternoon after the British bank reported its full-year earnings. One-off items sank HSBC today. While adjusted revenue at HSBC was little changed in 2016, reported revenue was 20% ... ( read original story ...)
Hong Kong’s 12th fiscal surplus to fund education, innovation and a salaries tax rebate
Financial Secretary Paul Chan Mo-po will unveil a package of incentives to nurture education in Hong Kong and promote innovation and technology, as well as offer a salaries tax rebate when he delivers the government’s budget on Wednesday. Chan ... ( read original story ...)
More money, tax concessions and bigger rebates: a wish list for Hong Kong’s budget
Hong Kong’s annual budget will be unveiled by new Financial Secretary Paul Chan Mo-po on Wednesday. The budget is expected to outline relief measures to help boost the economy, improve livelihoods and benefit different commercial sectors through the ... ( read original story ...)
Singapore’s hope of beating Hong Kong in IPOs is a pipe dream
Hong Kong lost out on Alibaba’s IPO because the Chinese e-commerce giant was adamant on a tiered share structure that the city’s rules do not permit. SGX was edged out by the NYSE for the 2012 IPO of English football giant Manchester United for the ... ( read original story ...)
Hong Kong Disneyland posts 2016 loss on tourism softness
HONG KONG - Hong Kong Disneyland has posted another annual loss as attendance by mainland Chinese tourists dropped amid a softer tourism market. The park said Monday that it lost 171 million Hong Kong dollars ($22 million) on revenue of HK$4.8 billion for ... ( read original story ...)
Former Hong Kong leader remanded in custody ahead of sentencing
He faces a possible seven-year sentence. On Monday, Tsang, in a white shirt, dark suit and trademark bow tie, entered Hong Kong's High Court holding the hand of his wife Selina. His family remained silent throughout the hearing. Scores of high-profile Hong ... ( read original story ...)
Hong Kong Disneyland records loss for second year in a row, as mainland visitor numbers dwindle
Hong Kong Disneyland has announced a loss for 2016, its second loss-making year in a row, losing HK$171 million on fewer visitors from the mainland. Visitor numbers at the Lantau Island park dropped more than 10 per cent to 6.1 million last year according ... ( read original story ...)