HSBC Reports Sharp Revenue Decline in 2020

HSBC Holdings announced its latest financial results today and reported a sharp decline in revenue. The bank saw revenue of $50.4 billion in 2020, which is a 10% drop compared to 2019. The reported profit bef...

HSBC UK Updates Gambling Block Feature To 3 days

HSBC UK updates gambling block feature to 3 days. HSBC UK and first direct have announced today an update to their cooling off period to their gambling block feature, from 24 hours to 72 hours. The self-rest...

HSBC Plans Exit from US Retail Banking Business

HSBC Holdings Plc is considering to close its retail banking business in the United States as the lender is struggling to increase its performance in North American markets, Financial Times reported recently....

HSBC Ousts Head of US Fixed Income Desk Michael Yarian

HSBC has parted ways with Michael Yarian, who leads its US fixed income trading desk, as the UK lender is accelerating its restructuring plan that includes axing 35,000 jobs. Europe’s biggest bank has poache...

HSBC to Shed up to 300 Staff from the UK Offices

Global lender HSBC has started to restructure its commercial banking business in the United Kingdom, which will result in around 300 job losses. As reported by Reuters on Wednesday, this is a part of the glo...

HSBC Launches New FX NDF Algo Suite with Asian Currencies

HSBC’s FX Alternative Execution Services has extended its non-deliverable forwards (NDF) algorithm suite by launching a new offering called NDFlex. The suit will add pairs of five Asian currencies initially:...

HSBC Plans to Lay Off 255 Staff in France, Says Report

HSBC will cut up to 255 jobs in France, or nearly 37 percent of full-time headcount in its French global banking and markets unit, by end-2021. French news daily Les Echos reported the cuts today, quoting HSB...