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HSBC

This Month

China’s consumers are reluctant to spend, weighing on the economy.

Investment banks slash China growth forecasts as confidence wanes

Analysts are increasingly sceptical that Beijing will reach its 5 per cent economic growth target for 2024.

  • Thomas Hale

August

Newport Beach

Why CEOs working from home may be the new trend

Starbucks’ new boss Brian Niccol has decided to base himself in California rather than headquarters, dividing opinion among workplace experts.

  • Michael O’Dwyer and Emma Jacobs

July

China’s low-tech manufacturers hanging on by their fingernails

China is shifting more to high-tech and EV manufacturing as its clothing, toy and furniture factories struggle against anaemic orders, trade restrictions and competition.

  • William Langley
Alex Syhanath runs Citi’s Australian commercial bank, a 34-person team that targets companies with more than $15 million in revenue.

Bankers seeking their next big pay day are chasing these clients

Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.

  • Aaron Weinman
 HSBC is Europe’s largest financial group.

How the chairman became the unquestioned power at this bank

Mark Tucker, the chairman of HSBC, has spent years establishing himself as the dominant figure at the heart of Europe’s largest financial group.

  • Harry Wilson, Laura Noonan, Donal Griffin and Ambereen Choudhury
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June

Keyboard

Bankers sacked for faking work in rise of ‘mouse jigglers’

US banking giant Wells Fargo dismissed members of its wealth and investment management arm after investigating claims that they were pretending to be busy.

  • Hannah Levitt

May

Air Canada is the latest major international carrier making a push for Australian travellers.

How to get 50,000 frequent flyer points and gold status

Air Canada is joining a string of carriers expanding in Australia, hoping to capture travellers fed up with being unable to use their frequent flier points.

  • Ayesha de Kretser
Nvidia has acquired Yonatan Geifman’s start-up Deci, which is a big win for Paul Bassat’s Square Peg.

Big win for Square Peg as Nvidia buys AI start-up Deci

The Melbourne VC firm will soon be toasting a rich profit on its investment in an Israeli AI start-up, when it is acquired by chip titan Nvidia for $447 million.

  • Nick Bonyhady
Capify is saying goodbye to Goldman Sachs as its funder.

‘Twenty-five times salary’: Goldman scraps bonus cap for bankers

Goldman will allow star traders and deal makers to earn up to 25 times their salary. The bank is trying to make London more attractive to top bankers after Brexit.

  • Eir Nolsoe and Michael Bow

April

Opposition Home Affairs spokesman James Paterson has told AUSTRAC to investigate TikTok.

TikTok referred to anti-money laundering authorities

The app’s gifting function, usually used to reward engaging streamers, had directed cash to terror-linked accounts.

  • Nick Bonyhady

Can Pollination really become the next ‘green’ Macquarie?

The fledgling investment bank has lofty ambitions and a high-profile roster of executives. But it also has plenty of competition for climate dollars.

  • Ben Potter
Moving to net zero requires everyone to understand the challenge, says Sally Townsend from Blackmores.

New uni course gets executives match fit for net zero

The micro-credential course starting in May will fast track understanding of how to navigate carbon accounting, reporting and reduction strategies.

  • Julie Hare
SunDrive’s manufacturing facility in Kurnell. Chief executive Vince Allen (right) said the company would explore setting up a plant at AGL’s Hunter Energy Hub.

The PM has made a silly billion-dollar bet on solar panels

The price of solar panels has plunged and overseas makers are going broke, making it even more puzzling why the government is making a $1 billion taxpayer bet.

  • John Kehoe

March

CSL chief executive Paul McKenzie.

Blood giant CSL works up $US1 billion-plus bond deal; banks mandated

CSL has a host of top-tier investment banks working on the deal, namely Bank of America, Citi, JPMorgan and HSBC.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
The IMF’s Kristalina Georgieva says with a “comprehensive package of pro-market reforms”, China could add 20 per cent, or $US3.5 trillion  to its economy over the next 15 years.

China at ‘fork in the road’ on reforms to boost demand

IMF head Kristalina Georgieva says the world is heading for subdued growth.

  • Updated
  • Joe Leahy
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Trying to save the Tories. Jeremy Hunt with PM Rishi Sunak.

Bond investors braced for inflationary UK budget

Investors are concerned Jeremy Hunt may use the budget to try to rescue the Tories’ political fortunes ahead of a general election expected later this year.

  • Aline Oyamada and Greg Ritchie

February

Vanessa Stephens, Glenn White and Hayden Matthews, at the new offices of Volans in Sydney.

Former Credit Suisse, HSBC bankers target ultrarich with new bank

Volans opens its doors in May. It already has 17 employees on its books and is in the process of applying for a banking licence.

  • Primrose Riordan

January

China’s steel-making industry is proving resilient.

Doubts mount over China’s steel, GDP data

Surprising statistics deepen scepticism about the official measures of activity in the world’s second-largest economy.

  • Thomas Hale, Joe Leahy and Harry Dempsey

December 2023

At least half of the job cuts at global banks in 2023 were made by Wall Street lenders, whose investment banking businesses have struggled to cope with the speed of interest rate rises.

Banks shed 60,000 jobs in one of worst years for cuts since GFC

Investment banks suffered a second consecutive year of plummeting fees as dealmaking and public listings dried up, leaving Wall Street trying to protect margins.

  • Owen Walker
A heavy machinery production line in eastern China.

More pain to come for China’s economy

After a solid first quarter, investor and consumer confidence has wavered, as not only property but China’s export earnings have disappointed.

  • Joe Leahy, Cheng Leng and Andy Lin

Original URL: https://www.afr.com/company/hsbc-holdings-plc-1mvb