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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 706.40
Bid: 707.20
Ask: 707.30
Change: 7.20 (1.03%)
Spread: 0.10 (0.014%)
Open: 700.80
High: 708.00
Low: 700.60
Prev. Close: 699.20
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HSBC's largest shareholder to back plans from activist investors - report

Mon, 17th Apr 2023 14:21

(Sharecast News) - HSBC's largest shareholder is reportedly likely to give its backing to shareholder resolutions that would force the bank to provide regular updates on the structure of its Asian business and restore the dividend to its pre-Covid level.

Bloomberg cited a person familiar with the company's thinking as saying that Ping An Insurance Group will probably support the measures at a shareholder meeting next month.

The AGM comes a year after the Chinese insurer was first publicly identified as behind a campaign to push the London-headquartered lender to consider a break-up of its business.

Last month, Ken Lui, leader of the "Spin Off HSBC Asia Concern Group", said that he had hired a law firm to request that the two special resolutions be put to a vote at the meeting, which is due to be held in Birmingham, England on 5 May.

HSBC has recommended to shareholders that they vote against the resolutions.

Ping An is expected to vote in favour of Lui's resolutions, which would require HSBC to produce quarterly reports on its strategy that would include "increasing its value by structural reforms" such as spinning off its Asian businesses.

Bloomberg said the insurer is also likely to back a resolution calling for the the bank to "distribute dividends to its members at the pre-Covid 19 pandemic level" in excess of $0.51 per share.

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17 Apr 2024 16:42

Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week, sources said, as they ramp up cost-cutting, with weaker dealmaking and sluggish markets in China and Hong Kong weighing on business prospects.

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17 Apr 2024 11:49

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.

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16 Apr 2024 17:09

Europe's STOXX 600 slides in broader market decline on geopolitical jitters

ECB policymakers stick with June rate cut plan

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11 Apr 2024 10:06

Blackstone, CVC consider bids for Superstruct festivals firm, sources say

LONDON, April 11 (Reuters) - Blackstone and CVC are among a list of potential bidders for European festivals organiser Superstruct Entertainment, several sources with knowledge of the situation told Reuters.

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9 Apr 2024 22:39

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

BUENOS AIRES, April 9 (Reuters) - Argentina's Banco Galicia, buying HSBC's local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation.

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9 Apr 2024 15:40

Financial firms tout energy business after West Virginia restrictions

NEW YORK, April 8 (Reuters) - West Virginia has added Citi, HSBC and two other financial firms to a list of institutions that may be barred from some state business due to their energy finance policies, prompting three of them to assert their commitment to that industry.

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9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

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9 Apr 2024 15:12

HSBC's Argentina exit doesn't impact valuation, Shore Capital says 'buy'

(Sharecast News) - Shore Capital has said that HSBC's disposal of its Argentinian business should not have a material impact on its investment case despite it generating a $1bn hit to the business.

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9 Apr 2024 08:52

TOP NEWS: HSBC to take USD1 billion loss on sale of Argentina business

(Alliance News) - HSBC Holdings PLC on Tuesday said it will sell its business in Argentina to Grupo Financiero Galicia SA, which it called the largest private financial group in the South American country.

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9 Apr 2024 08:44

LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

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9 Apr 2024 08:37

HSBC takes $1 bln hit from Argentina sale as Asia pivot continues

Grupo Financiero Galicia to buy the business for $550 mln

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9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

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9 Apr 2024 07:05

HSBC to take $1bn hit from Argentina unit sale

(Sharecast News) - HSBC Holdings on Tuesday said it was selling its Argentina business to Grupo Financiero Galicia for $550m and take a $1bn pre-tax loss in the process as it continued to pivot its operations towards Asia.

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8 Apr 2024 19:45

West Virginia treasurer adds four finance firms to ESG blacklist

NEW YORK, April 8 (Reuters) - West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state's treasurer deems they are boycotting the fossil fuel industry.

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8 Apr 2024 07:00

HSBC targets wealthy expats, bullish Asian firms to drive Europe unit, exec says

Managers focused on growth after complex transformation

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