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Pin to quick picksHSBC Holdings Share News (HSBA)

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Share Price: 669.30
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UPDATE 3-U.S. says China 'bullying' UK, cites HSBC Hong Kong-related accounts

Wed, 26th Aug 2020 12:37

* Pompeo renews attack on British bank

* HSBC caught in Beijing-Washington spat

* Bank stays silent amid fresh criticism
(Adds further context)

By Susan Heavey and Lawrence White

WASHINGTON/LONDON, Aug 26 (Reuters) - U.S. Secretary of
State Mike Pompeo on Wednesday renewed criticism of British Bank
HSBC for its reported treatment of customers linked
with the pro-democracy movement in Hong Kong, saying China was
"bullying" the United Kingdom.

Pompeo cited unverified reports of Hong Kong-based
executives at Next Media being unable to access their HSBC bank
accounts and said the bank was "maintaining accounts for
individuals who have been sanctioned for denying freedom for
Hong Kongers, while shutting accounts for those seeking
freedom."

"Free nations must ensure that corporate interests are not
suborned by the CCP (Chinese Communist Party) to aid its
political repression," Pompeo said in a statement.

"We stand ready to help the British government and its
companies resist CCP bullying and stand for freedom."

Reuters was unable to verify immediately which reports
Pompeo was referring to or whether HSBC had frozen any accounts
of Next Media staff. Next Media is the previous name of Next
Digital.

Representatives for London-based HSBC, in an email, declined
to comment.

A representative at tabloid Apple Daily, the flagship
publication of Next Digital, did not immediately respond to
Reuters' request for comment.

Nor did Britain's Foreign & Commonwealth Office and China's
Foreign Affairs Ministry immediately respond to a request for
comment on Pompeo's assertion that China was bullying the UK.

HSBC has in recent months faced mounting pressure on both
sides of the Atlantic, as it attempts to balance its need to
maintain access to the Chinese market with appeasing lawmakers
in the United States and Britain critical of Beijing's handling
of the democracy movement in Hong Kong.

Last month, British Foreign Secretary Dominic Raab
reprimanded HSBC and other banks for supporting China's new
security law, saying the rights of the people of Hong Kong
should not be sacrificed for bankers' bonuses.

Senior British and U.S. politicians criticized HSBC and
Standard Chartered in June after the banks backed
China's national security law for the territory.

Global banks are examining whether their clients in Hong
Kong have ties to the city's pro-democracy movement, in an
attempt to avoid getting caught in the crosshairs of China's new
national security law, Reuters reported last month.

Washington has criticized Beijing's crackdown against
pro-democracy opposition in the now Chinese-ruled city following
a sweeping new security law imposed on Hong Kong on June 30 that
was widely condemned by Western nations.

Hong Kong media tycoon Jimmy Lai, a prominent democracy
activist and top executive at Next Digital, was arrested Aug. 10
under the new law, further stoking concerns about media and
other freedoms promised to Hong Kong when it returned to China
in 1997.
(Reporting by Susan Heavey, Lawrence White and Sinead Cruise;
additional reporting by by Anne Marie Roantree in Hong Kong and
Beijing bureau, editing by Jason Neely and Steve Orlofsky)

More News
14 Dec 2023 15:47

UK dividends calendar - next 7 days

Friday 15 December 
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Games Workshop Group PLCex-dividend payment date
Gattaca PLCspecial dividend payment date
Gattaca PLCdividend payment date
GCP Asset Backed Income Fund Ltddividend payment date
Hargreaves Lansdown PLCdividend payment date
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Kainos Group PLCdividend payment date
Lancashire Holdings Ltdspecial dividend payment date
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ScS Group PLCdividend payment date
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Triple Point Social Housing REIT PLCdividend payment date
Urban Logistics REIT PLCdividend payment date
Utilico Emerging Markets Trust PLCdividend payment date
Wincanton PLCdividend payment date
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Monday 18 December 
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CT UK Capital & Income Investment Trust PLCdividend payment date
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Tuesday 19 December 
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Wednesday 20 December 
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Thursday 21 December 
abrdn Diversified Income & Growth PLCex-dividend payment date
abrdn Private Equity Opportunities Trust PLCex-dividend payment date
Alpha Financial Markets Consulting PLCdividend payment date
British & American Investment Trust PLCdividend payment date
British American Tobacco PLCex-dividend payment date
Britvic PLCex-dividend payment date
CML Microsystems PLCex-dividend payment date
Diverse Income Trust PLCex-dividend payment date
Dunedin Enterprise Investment Trust PLCex-dividend payment date
Halma PLCex-dividend payment date
HSBC Holdings PLCdividend payment date
IntegraFin Holdings PLCex-dividend payment date
International Biotechnology Trust PLCex-dividend payment date
J Smart & Co (Contractors) PLCex-dividend payment date
JPMorgan Japanese Investment Trust PLCex-dividend payment date
JPMorgan Multi-Asset Growth & Income PLCex-dividend payment date
Mercantile Investment Trust PLCex-dividend payment date
Montanaro European Smaller Companies Trust PLCex-dividend payment date
Pharos Energy PLCex-dividend payment date
STS Global Income & Growth Trust PLCex-dividend payment date
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

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12 Dec 2023 16:26

US sanctions proposed buyer of HSBC's Russian business

Dec 12 (Reuters) - The U.S. on Tuesday imposed sanctions on Russia's Expobank, the proposed buyer of HSBC's local unit, a move that could complicate the British lender's long-awaited departure from Russia.

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12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

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12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

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11 Dec 2023 11:00

TC Energy's Coastal GasLink seeks C$1.2 billion from pipeline contractor over delays

WINNIPEG, Manitoba, Dec 11 (Reuters) - Coastal GasLink, a Canadian natural gas pipeline partnership operated by TC Energy, is seeking C$1.2 billion ($737 million) from one of its main contractors for construction delays and may be liable for a similar amount if an arbitrator rules against it, court documents showed ahead of a hearing this month.

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5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

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29 Nov 2023 16:55

LONDON MARKET CLOSE: Cooler German CPI boosts DAX but FTSE 100 falls

(Alliance News) - The FTSE 100 closed lower on Wednesday, despite a bullish session for European peers, as the blue-chip index's China-exposed stocks and natural resources sector struggled.

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29 Nov 2023 16:40

London close: Stocks mixed as US GDP growth tops forecasts

(Sharecast News) - London markets closed with a mixed performance on Wednesday, influenced by a combination of UK data releases and robust economic growth in the US.

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29 Nov 2023 12:02

LONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US data

(Alliance News) - European equities were largely higher heading into Wednesday afternoon's US gross domestic product reading, though London's FTSE 100 underperformed as China-exposed shares and international earners declined.

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29 Nov 2023 11:13

IN BRIEF: Pets At Home starts GBP25 million 2nd half of share buyback

Pets At Home Group PLC - Cheshire, England-based pet supplies and veterinary services - Launches GBP25 million second tranche of GBP50 million share buyback. Commissions HSBC Bank PLC, part of HSBC Holdings PLC, to conduct the buyback tranche, which will end by March 28 next year. The overall programme was started in June. The launch of the second tranche follows the release of interim results on Tuesday. Pretax profit declined 35% to GBP34.7 million in the 28 weeks to October 12 from GBP53.4 million a year prior, as a 6.5% revenue increase was offset by higher cost of sales and administrative expenses. Pets at Home had maintained its interim dividend at 4.5 pence per share.

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27 Nov 2023 17:08

LONDON MARKET CLOSE: Downbeat China data hurts exposed FTSE 100 stocks

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27 Nov 2023 11:58

LONDON MARKET MIDDAY: Downbeat China headlines hurt FTSE 100

(Alliance News) - London's FTSE 100 made an uncertain start to the week, with share price falls for miners, oil majors and China-exposed stocks sending the large-cap benchmark into the red heading into Monday afternoon.

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27 Nov 2023 06:47

UPDATE: HSBC UK says banking services return after Black Friday outage

(Alliance News) - HSBC Holdings PLC said its digital services are returning to normal after UK customers were left struggling to access mobile and online banking on one of the busiest shopping days of the year.

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24 Nov 2023 11:48

HSBC UK investigating as customers struggle to access banking services

(Alliance News) - HSBC UK is investigating "as a matter of urgency" as customers have been struggling to access banking services on Black Friday.

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