HSBC Financial News

16.08 / 11:19

HSBC BlackRock UBS Allianz show country BlackRock among holders of embattled China bond holders

Global investors including BlackRock Inc. and Allianz SE may be key stakeholders to watch in Country Garden Holdings Co.’s debt crisis given their recent exposure to the embattled Chinese property developer’s dollar bonds.

15.08 / 16:57

UPS Lowe's FIVE HSBC performer Aurobindo shares more than double

NEW DELHI : Aurobindo Pharma Ltd saw its stock prices more than double during the last few months, from 52-week lows of ₹397.20 on the National Stock Exchange on 3 February to 52-week highs of ₹887.70 on 14 August. The turnaround in the company’s prospects has been aided by an improved outlook for its US formulations business, which contributes almost half of the company’s overall revenues. The base business in the US remains stable helped by lower competitive intensity.

15.08 / 14:39

Strategy HSBC BlackRock Morningstar funds Morningstar: Fixed income remains only asset class to gain net inflows in July

Passive strategies saw modest inflows in July, while active funds saw sustained redemptions.

15.08 / 11:51

Lowe's HSBC Danone show country Sweden, UK lead European shares lower amid rate-hike fears

By Shashwat Chauhan

14.08 / 11:02

COST HSBC Browser Inside Consumer confidence slides as soaring mortgage rates hit finances

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13.08 / 18:11

HSBC Redemptions Saudi Arabia issues nearly $9.6 billion local sukuk after early redemptions

Saudi government has issued new local currency Islamic bonds worth around 35.9 billion riyals ($9.57 billion) after buying back some of its existing sukuk worth over 35.7 billion riyals, the National Debt Management Center said on Sunday. The Sukuk that were redeemed early were set to mature in 2024, 2025 and 2026.

11.08 / 08:57

UPS FIVE HSBC track country sprint Australia’s metal and mining sector in the driver’s seat for EV metals sprint

As the world looks to EVs to reduce its reliance on fossil fuels – the metals and mining sector is expected to be the beating heart of the solution.

11.08 / 08:57

FIVE Racing HSBC Mercedes-Benz ANZ country Mercedes-loving biotech boss goes bankrupt, leaves country

A biotechnology chief executive who earned more than $10 million from now collapsed life-science companies has declared himself bankrupt and left Australia.

11.08 / 08:55

COST UPS HSBC Browser Homeowners Higher mortgage rates are 'new normal', homeowners warned

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11.08 / 03:11

UPS FIVE HSBC country sprint Australia in the driver’s seat for EV metals sprint

If the world is to reduce its reliance on fossil fuels – turning to electric vehicles in what will be a massive transition — then the metals and mining sector is the beating heart of the solution.

09.08 / 23:15

Citi Reuters HSBC show country Latest China developer debt woes could spur policy aid, but industry downbeat

By Clare Jim

09.08 / 10:37

Cooper Aware SEC Action Citigroup HSBC Fines for Wall St. communications violations reach $2.5B

Wells Fargo & Co. and BNP Paribas SA are among firms that will pay hundreds of millions of dollars in penalties for employees using unofficial communications like WhatsApp, personal texts or email to conduct business — the latest in US regulators’ crackdown on Wall Street’s failure to keep records.

09.08 / 09:05

COST UPS Lowe's HSBC Browser Time Three big lenders cut mortgage rates for second time in two weeks

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08.08 / 11:35

IPO Booking Assurant Citigroup HSBC band Concord Concord Biotech IPO Day 3: Issue subscribed over 24 times on last day; QIB portion booked 68x

IPO Subscription Status: The initial public offering (IPO) of Concord Biotech Limited has been subscribed 24.79 times in total so far on August 8, the third and final day of the bidding process. The public issue of late ace investor Rakesh Jhunjhunwala’s RARE Trusts-backed biotechnology company received bids for 36.31 crore equity shares as against 1.46 crore shares on the offer. Concord Biotech IPO’s retail category was booked 3.64 times, while the Non-Institutional Investors (NII) category was subscribed 16.95 times.

08.08 / 08:43

HSBC tenor Deal AirTrunk puts finishing touches on year’s biggest loan deal

Data centre business AirTrunk and its big-bank syndicate are poised to rule off the whopper $4.76 billion sustainability-linked loan launched in mid-June.

07.08 / 16:17

Booking Waters HSBC UBS star The UBS-Credit Suisse union has unsettled private banking

Credit Suisse Group’s crown jewel is its wealth management business in Asia, judging by the tremendous personnel effort its acquirer is making. UBS Group plans to retain most of Credit Suisse’s relationship managers in the region, while cutting more than half of its smaller rival’s 45,000-strong workforce worldwide. Bonuses are being dangled for private bankers with growing client books.

07.08 / 14:59

UPS Provident Williams HSBC pop When Markets Get Scary, Mom and Pop Buy Gold

Joe Susanno lost thousands of dollars from his retirement account betting on biotech shares in early 2021. Now the 44-year-old integration engineer from Gloucester, Mass., is putting his money into an investment whose value has held up over a longer run: gold coins. “Precious metals are kind of what just makes it so I can sleep at night, where I hold it and nobody can hurt me," Susanno said.

07.08 / 08:05

IPO Booking Assurant Citigroup HSBC band Concord Concord Biotech IPO Day 2: Issue fully subscribed on day 2; retail portion booked 1.58x

IPO Subscription Status: The initial public offering (IPO) of Concord Biotech Limited has been fully subscribed on day 2 as it received strong demand from retail as well as non-institutional investors. The Concord Biotech IPO so far has been subscribed 1.48 times in total as the issue received bids for 2.16 crore equity shares as against 1.46 crore shares on the offer on August 7, the second day of the bidding process. The public issue received 1.58 times subscription in the retail category and 3.06 times in the Non-Institutional Investors (NII) category.

07.08 / 02:41

UPS FIVE CEO HSBC electronic Stocks to Watch: RIL, BoB, ICICI Bank, ICICI Lombard, Britannia, BHEL

Reliance Industries: Reliance Industries Ltd (RIL) has sought the nod of shareholders to appoint Mukesh Ambani as chairman and managing director of the company for another five years till 2029. During this period he has opted to draw nil salary. Ambani, 66, will cross the company law-mandated 70 years of age for the chief executive of the company and requires a special resolution by the shareholders for him to be appointed beyond that age bar, according to a PTI report.

05.08 / 12:19

HSBC India's Q1 GDP growth projections could be overstated by 1%: HSBC

GST tax and income tax revenue growth was strong, but corporate tax growth was weak," the report said. "We believe this is reflective of a k-shaped recovery - stronger demand for luxury goods where prices and tax rates are higher driving GST, and improved formal sector prospects driving income tax," it added India's Q1FY24 GDP growth is expected to clock 7.9%, according to the Reserve Bank of India (RBI).

05.08 / 10:33

HSBC Cholamandalam Investment and Finance to raise ₹4,000 crore via QIP in September: Report

₹4,000 crore through a qualified institutional placement (QIP) in September. The Murugappa-backed company has shortlisted three investment banks as advisors for the same, according to a report by Moneycontrol. The NBFC arm of the conglomerate looks to raise the amount for growth purposes, sources told the news website.

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