Articles by admin

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(Bloomberg) — HSBC Holdings Plc slumped below its financial crisis low set more than a decade ago as pressures mount on several fronts, including a potential threat to its China expansion plans and increased scrutiny of money laundering controls.The London-based bank’s Hong Kong shares on Monday slid below their closing low for March 2009, hitting as low as HK$29.60. They have plunged 51% this year, reaching the lowest since 1995. In London, HSBC fell 3.3% as of 8:05 a.m. local time, compared with the 1.7% decline in the benchmark FTSE 100 Index.Europe’s largest bank is a possible candidate for China’s …read more […]

Sep.21 — The U.K. is at a “critical point” in the coronavirus pandemic, according to a preview of remarks prepared for a public briefing by Chief Medical Officer Chris Whitty. The warning comes amid expectations that local restrictions could soon be extended to London. Edward Evans reports on “Bloomberg Markets: European Open.” …read more […]

VANCOUVER, BC, Sept. 21, 2020 /CNW/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today noted that China’s government has announced a new official policy regarding Fuel Cell Electric Vehicles, or FCEVs, which is expected to support the adoption of FCEVs in selected demonstration regions in China. …read more […]

Sep.21 — President Donald Trump discusses Oracle Corp.’s agreement to take a stake in TikTok. The proposal, which has the president’s blessing, would give Oracle and other investors minority ownership of a new company called TikTok Global. He spoke at a news briefing at the White House on Saturday. …read more […]

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Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters. Shell’s new cost-cutting review, known internally as Project Reshape and expected to be completed this year, will affect its three main divisions and any savings will come on top of a $4 billion target set in the wake of the COVID-19 crisis. Reducing costs is vital for Shell’s plans to move into the power sector …read more […]

(Bloomberg) — The TikTok video-sharing app was already under U.S. scrutiny when users pranked President Donald Trump’s campaign by pretending to reserve thousands of tickets to a June re-election rally in Oklahoma.For Trump administration hardliners who wanted a tougher stance toward Beijing and viewed the Chinese-owned app as a national security threat, it was the perfect moment to pounce. The president, furious over the Covid-19 pandemic and embarrassed by empty seats at his campaign event, obliged.Linking TikTok to Beijing’s handling of the raging coronavirus outbreak, Trump in July threatened to ban the app used by 100 million Americans unless China …read more […]

The world’s largest 50 investment banks are on track to double their income from precious metals this year to around $2.5 billion, most of it from gold, Coalition, a banking consultancy, told Reuters. The juicy rewards, which have not previously been reported, mark a stunning reversal of fortune for bullion banks. In March, some had to wipe hundreds of millions of dollars off their trading books as the global pandemic snarled the supply of gold bars. …read more […]

Sep.21 — Santosh Nagalingaswamy, senior adviser of valuation services at Duff & Phelps, discusses the brand value of the Indian Premier League, the challenges the team is facing due to covid-19 and the pullout from Chinese advertisers. He speaks on “Bloomberg Markets: Asia.” …read more […]

Sep.21 — Thailand’s biggest anti-government protest in months has ended with calls for a general strike as demonstrators challenge long-held taboos on authority and the monarchy. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Markets: Asia.” …read more […]

Sep.21 — Thailand’s biggest anti-government protest in months has ended with calls for a general strike as demonstrators challenge long-held taboos on authority and the monarchy. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Markets: Asia.” …read more […]

Sep.21 — A new investigation by a consortium of investigative journalists claim that some of the world’s leading banks may have been involved in moving trillions of dollars in illicit funds over the past two decades. Among the banks named are HSBC Holdings Plc. and Standard Chartered Plc. Bloomberg’s Su Keenan reports on “Bloomberg Markets: Asia.” …read more […]

The UK bank’s Asian valuation suffers its biggest slump for decades, after money laundering allegations. …read more […]