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HSBC probes China Pinnacle wealth business on costs and control, say sources

EXCLUSIVE-HSBC probes China Pinnacle wealth business on costs and control, say sources    HSBC reviews Pinnacle due to cost, control issues-sources Pinnacle review could result in layoffs-sources HSBC invested $390 million in Pinnacle since launch in 2020 By Selena Li, Engen Tham and Sumeet Chatterjee HONG KONG/SHANGHAI, Oct 14 (Reuters) - HSBC Holdings Plc HSBA.L is reviewing expenses and operational controls at its China digital wealth business Pinnacle, in a move that could result in la
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HSBC Bought Back Total Of 1.1 Mln Shares On Other Exchanges For GBP7.2 Mln On Oct 11 - HKEX Filing

BRIEF-HSBC Bought Back Total Of 1.1 Mln Shares On Other Exchanges For GBP7.2 Mln On Oct 11 - HKEX Filing Oct 14 (Reuters) - HKEX FILING: HSBC BOUGHT BACK TOTAL OF 1.1 MILLION SHARES ON OTHER EXCHANGES FOR GBP7.2 MILLION ON OCT 11 - HKEX FILING Further company coverage: 0005.HK
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HSBC Bought Back 5.3 Million Shares For HK$358.8 Million On Oct 10 - HKEX Filing

BRIEF-HSBC Bought Back 5.3 Million Shares For HK$358.8 Million On Oct 10 - HKEX Filing Oct 14 (Reuters) - HKEX Filing: HSBC BOUGHT BACK 5.3 MILLION SHARES FOR HK$358.8 MILLION ON OCT 10 - HKEX FILING HSBC BOUGHT BACK 1.9 MILLION TOTAL SHARES ON OTHER EXCHANGES FOR GBP12.8 MILLION ON OCT 10 - HKEX FILING Source text for Eikon: ID:nHKS5GRYjj Further
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China's stimulus message leaves investors wanting though hanging onto hope

RPT-ANALYSIS-China's stimulus message leaves investors wanting though hanging onto hope Repeats story from Saturday with no changes to text By Samuel Shen, Ankur Banerjee and Tom Westbrook SHANGHAI/SINGAPORE, Oct 12 (Reuters) - China's highly anticipated announcement of financial stimulus plans on Saturday was big on intent but low on the measurable details that investors need to ratify their recent return to the world's second-biggest stock market.
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China's stimulus message leaves investors wanting though hanging onto hope

ANALYSIS-China's stimulus message leaves investors wanting though hanging onto hope By Samuel Shen, Ankur Banerjee and Tom Westbrook SHANGHAI/SINGAPORE, Oct 12 (Reuters) - China's highly anticipated announcement of financial stimulus plans on Saturday was big on intent but low on the measurable details that investors need to ratify their recent return to the world's second-biggest stock market.
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U.S. ANI Pharmaceuticals, Deere & Co, Zoetis

U.S. RESEARCH ROUNDUP-ANI Pharmaceuticals, Deere & Co, Zoetis Oct 11 (Reuters) - Wall Street securities analysts revised their ratings and price targets on several U.S.-listed companies, including ANI Pharmaceuticals, Deere & Co and Zoetis, on Friday. HIGHLIGHTS * ANI Pharmaceuticals Inc ANIP.O : Piper Sandler initiates coverage with overweight rating * Deere & Co DE.N : JP Morgan raises target price to $420 from $360 * Northrop Grumman NOC.N : Citigroup raises target price to $587 from $521 * S
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HSBC appeals decision reinstating female banker's discrimination claim

HSBC appeals decision reinstating female banker's discrimination claim By Kirstin Ridley LONDON, Oct 10 (Reuters) - HSBC HSBA.L on Thursday appealed a tribunal's decision to reinstate a female, senior investment banker's lawsuit that alleges the bank victimised and discriminated against her when it did not hire her for a senior sales position in 2018. Carmen Chevalier-Firescu, 41, sued the bank in an employment tribunal in 2020, alleging she was not appointed as the head of HSBC's London derivat
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US regulators impose penalties to resolve money laundering probes

FACTBOX-US regulators impose penalties to resolve money laundering probes Oct 10 (Reuters) - Canada's TD Bank TD.TO agreed to pay a combined $3 billion in penalties on Thursday as part of a settlement with U.S. authorities over charges it failed to monitor and prevent money laundering. The issue highlights a recurring challenge in the financial industry.
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Companies sell their businesses in Russia

FACTBOX-Companies sell their businesses in Russia Updates Unilever Oct 10 (Reuters) - Many Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. Below are some companies that have sold their businesses in Russia, divided by sector: AUTOS Continental CONG.DE sold its Russian tyre plant to holding company S8 Capital in May 2023. Renault R
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HSBC cost cuts expose new CEO’s bigger problem

BREAKINGVIEWS-HSBC cost cuts expose new CEO’s bigger problem The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, Oct 10 (Reuters Breakingviews) - There’s always a case to be made for cost cuts at HSBC HSBA.L , 0005.HK . The $160 billion lender employed 214,000 people in June and arguably suffers from duplication across its different bits.
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HSBC Bought Back 6 Mln Shares For HK$406 Mln On Oct 9 - HKEX Filing

BRIEF-HSBC Bought Back 6 Mln Shares For HK$406 Mln On Oct 9 - HKEX Filing Oct 10 (Reuters) - HKEX: HSBC BOUGHT BACK 6 MILLION SHARES FOR HK$406 MILLION ON OCT 9 - HKEX FILING HSBC BOUGHT BACK 1.6 MILLION TOTAL SHARES ON OTHER EXCHANGES FOR GBP11 MILLION ON OCT 9 - HKEX FILING Further company coverage: 0005.HK
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UK Stocks-Factors to watch on Oct 10

UPDATE 1-UK Stocks-Factors to watch on Oct 10 Adds new items, updates futures Oct 10 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0.2%. * TRITAX EUROBOX: Brookfield Asset Management BAM.TO has agreed to buy Tritax EuroBox EBOX.L for 1.1 billion pounds ($1.44 billion), including debt, kicking off a possible takeover battle for the European logistics real estate firm.
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HSBC mulls cost-cutting plan of up to $300 mln, targeting top ranks, FT reports

UPDATE 2-HSBC mulls cost-cutting plan of up to $300 mln, targeting top ranks, FT reports Adds details, context in paragraphs 3-8 Oct 10 (Reuters) - HSBC HSBA.L 0005.HK CEO Georges Elhedery is weighing cost-cutting measures that could save up to $300 million by reducing top management layers, the Financial Times reported on Thursday. The plan comes at a time when the lender is considering a merger of its commercial and investment banking units, the FT report said, citing people familiar with the
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Financial Times - Oct 10

PRESS DIGEST- Financial Times - Oct 10 Oct 10 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - HSBC targets senior bankers in cost-cutting plan - UK ministers fire starting gun on landmark worker rights reform - GSK reaches $2.2 bln Zantac settlement in US - Bernard Arnault partners with Red Bull to buy Paris FC in latest move into sport Overview - HSBC HSBA.L CEO Georges Elhedery plans
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HSBC mulls cost-cutting plan to save up to $300 mln, FT reports

HSBC mulls cost-cutting plan to save up to $300 mln, FT reports Oct 10 (Reuters) - HSBC HSBA.L , 0005.HK CEO Georges Elhedery is considering cost-cutting initiatives that could save as much as $300 million as the lender embarks on a merger of its commercial and investment banking units, the Financial Times reported on Thursday, citing people familiar with the matter.
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Top pension funds urge UK to change fiscal rule ahead of budget

UPDATE 1-Top pension funds urge UK to change fiscal rule ahead of budget Pension funds urge rule change to boost investment New Labour government announces first budget on Oct 30 Finance minister meets major UK banks on Wednesday Adds finance ministry in paragraph 9, banking source in paragraph 12 By Iain Withers and Sinead Cruise LONDON, Oct 9 (Reuters) - Major pension funds have called on the British government to overhaul one of its fiscal rules in its budget later this month, adding to growi
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Top pension funds urge UK to change fiscal rule ahead of budget

Top pension funds urge UK to change fiscal rule ahead of budget Pension funds urge rule change to boost investment New Labour government announces first budget on Oct 30 Finance minister meets major UK banks on Wednesday LONDON, Oct 9 (Reuters) - Major pension funds have called on the British government to overhaul one of its fiscal rules in its budget later this month, adding to growing calls for the country to encourage more investment in infrastructure and green technology.
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Hyundai to use $3 bln record India IPO proceeds for new cars, R&D

UPDATE 3-Hyundai to use $3 bln record India IPO proceeds for new cars, R&D Hyundai IPO biggest ever in India, Asia's biggest in 2024 Company wants to expand in India; first listing outside S.Korea Hyundai aims to make India a manufacturing hub for emerging mkts Executive says 30% increase in production seen in 3-4 years Adds details, comments in paragraph 7, 11, 16-17 By Dhwani Pandya MUMBAI, Oct 9 (Reuters) - Hyundai Motor 005380.KS plans to use proceeds from a r ecord $3.3 billion IPO of its I
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HSBC Bought Back 5.9 Mln Shares For HK$414 Mln On Oct 8 - HKEX Filing

BRIEF-HSBC Bought Back 5.9 Mln Shares For HK$414 Mln On Oct 8 - HKEX Filing Oct 9 (Reuters) - HKEX Filing: HSBC BOUGHT BACK 5.9 MILLION SHARES FOR HK$414 MILLION ON OCT 8 - HKEX FILING HSBC BOUGHT BACK TOTAL 2.8 MILLION SHARES ON OTHER EXCHANGES FOR GBP18.7 MILLION ON OCT 8 - HKEX FILING Further company coverage: 0005.HK
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U.S. Aflac, Lincoln National, Prudential Financial

U.S. RESEARCH ROUNDUP-Aflac, Lincoln National, Prudential Financial Oct 9 (Reuters) - Wall Street securities analysts revised their ratings and price targets on several U.S.-listed companies, including Aflac, Lincoln National and Prudential Financial, on Wednesday. HIGHLIGHTS * Aflac Inc AFL.N : TD Cowen initiates coverage with hold rating; price target $102 * Corebridge Financial Inc CRBG.N : TD Cowen initiates coverage with buy rating * Lincoln National Corp LNC.N : TD Cowen initiates coverage
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