Latest News, Updates & Breaking Headlines
HSBC is reportedly planning to cut thousands of jobs due to AI. According to a report by Bloomberg, the change – likely to span over the next three to five years – could affect about 10% or nearly 20,000 of its workforce. “HSBC Holdings Plc is weighing deep job cuts over the coming years as…
War, Oil, Markets: HSBC’s Bold Bet on the Gulf Amid Iran vs US-Israel Crisis Even as geopolitical tensions escalate across the Middle East, global banking giant HSBC has publicly reaffirmed its confidence in the long-term economic strength of the Gulf Cooperation Council (GCC) economies, signalling that international financial institutions are not retreating from the region…
Based on the HSBC Flash India Composite Output Index, the private sector saw robust business activity. (AI image) Business activity in India moderated in December, with the HSBC PMI Composite Index that measures India’s manufacturing and service sectors’ combined output, came in at 58.9, dropping from November’s 59.7. Despite this reduction, the index remained significantly…
Worried about your InterGlobe Aviation investment after IndiGo’s recent operational crisis? HSBC has urged IndiGo investors to look past the dramatic scenes surrounding InterGlobe Aviation over the past week, saying the chaos has not altered the airline’s long-term prospects. The brokerage acknowledged the scale of the disruption but concluded that the airline’s fundamentals remain unbroken,…
OpenAI CEO Sam Altman is apparently tired of people fretting over how much money the company spends to run ChatGPT. When asked about the enormous expenses on a recent podcast, he gave a brief, frustrated answer: “Enough.” That was in response to repeated questions from the financial world about how OpenAI could make money when…
MUMBAI: India’s economic momentum is shifting toward its lower-income or emerging states, which are beginning to accelerate and narrow the gap with their richer peers. This trend of growth convergence marks a departure from the pre-pandemic years between FY13 and FY19, when richer states consistently expanded faster, an HSBC report said. The convergence, which is…
Gold is set to remain firmly supported in the months ahead, with HSBC describing the metal as a reliable shield against global volatility. In its Think Future 2026 outlook, the bank said gold continues to benefit from powerful demand both from central banks and retail investors amid persistent economic and geopolitical uncertainty.As per news agency…
File photo (Picture credit: ANI) India’s services sector saw its slowest pace of growth in five months during October, as competitive market pressures and heavy rainfall in some regions weighed on business activity.According to the monthly HSBC India Services PMI Business Activity Index, compiled by S&P Global, the seasonally adjusted reading fell to 58.9 in…
HSBC Bank books $1.1 billion provision HSBC Bank on Monday disclosed a financial charge of $1.1 billion related to a claim by a European fund tied to the late Bernard Madoff’s investment fraud.The provision will be reflected in the lender’s third-quarter results due Tuesday, the London-headquartered bank said. Following the announcement, HSBC’s shares slipped about…
HSBC on Friday projected that gold prices could surge to $5,000 an ounce in the first half of 2026, driven by geopolitical risks, economic uncertainty, and a wave of new market participants. As per news agency Reuters, the bank also raised its average gold price forecast for 2025 to $3,455 per ounce from $3,355, while…
