Tag: finance

HONG KONG—HSBC Holdings PLC’s first-quarter profit dropped 1.3% from a year ago as it set aside money for potential legal liabilities, including its role in the sale of mortgage-backed securities in 2007. Net profit for the January-March period stood ... ( read original story ...)

This targeted spending contributed to a rise in adjusted costs in the first three months of the year," HSBC's group chief executive, John Flint, said in a statement. The bank's Hong Kong-listed shares, a heavyweight on the benchmark Hang Seng Index ... ( read original story ...)

That pricing advantage means loans made by HSBC will be more competitive, profitable, or both. But with its mortgage and developer loans in Hong Kong growing at 16 percent last year, and advances to customers in mainland China expanding by 22 percent ... ( read original story ...)

Traders were not impressed with HSBC’s $2bn share buyback, with the stock dropping as much as 2.7 per cent in Hong Kong on Friday as the bank revealed rising costs in its first quarter. HSBC said on Friday it would initiate the buyback soon — but that ... ( read original story ...)

HONG KONG--HSBC Holdings' first-quarter profits dropped 1.3% from a year ago as it set aside money for potential legal liabilities including its role in the sale of mortage-backed securities in 2007. Net profit for the January-March period stood at US$3.09 ... ( read original story ...)

HONG KONG/LONDON: HSBC Holdings PLC posted on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in investments, missing estimates, and announced plans to initiate a new share buyback of up to $2 billion. "Given the growth ... ( read original story ...)

An influential new international alliance of senior bank officials, financial regulators, and monetary chiefs will launch in Hong Kong next week to help address the threat they believe an unregulated fintech (financial technology) revolution poses to ... ( read original story ...)

West Africa’s infamous Internet scammers have evolved, dropping their impersonations of online love interests, princes and United States soldiers in favour of hijacking corporate emails, costing businesses hundreds of millions of dollars a year. ( read original story ...)

Hong Kong is eyeing several tech listings in the coming two years ... coming to Hong Kong that there is a clear pathway," said Keith Pogson, senior partner for financial services at EY. Xiaomi said it would have a weighted voting rights (WVR) structure ... ( read original story ...)

HONG KONG--(BUSINESS WIRE)--May 3, 2018--LuLu Financial Group, the leading financial services and payments solution brand, started its operations in Hong Kong with the inauguration of their head office at Hankow Centre in Kowloon. This press release ... ( read original story ...)

BEIJING (Reuters) - Smartphone and connected device maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong initial public offering on Thursday, in what is expected to be the largest listing by a Chinese tech company in almost four years. The listing could value ... ( read original story ...)

May 2 (Reuters) - Hong Kong stocks fell on Wednesday ... The top gainer on Hang Seng was Sunny Optical Technology Group Co Ltd up 4.92 percent, while the biggest loser was Bank of Communications Co Ltd which was down 2.32 percent. ( read original story ...)

“This trend will continue as rates are only going up,” Lawrence Kung, head of the deposits department at Wing Lung Bank Ltd. in Hong Kong, said in a phone interview. “Banks are preparing themselves in terms of funding before the rate-hike cycle. ( read original story ...)

The Hong Kong Financial Services and Treasury (FSTB) has released its Money Laundering and Terrorist Financing Risk Assessment Report. The report comes amid an increasingly tense debate on whether the city is adequately combatting financial crime. ( read original story ...)