8chan/8kun QResearch Posts (1)
#8173616 at 2020-02-18 15:43:53 (UTC+1)
Q Research General #10462: I'd Watch The News That Day Edition
HSBC Reboot Fizzles, Sending Stockholders Looking for the Exits-after a "one-time $7.3B write-down"…
HSBC Holdings Plc Chairman Mark Tucker promised a strategy reboot. Investors got what some called more of the same – pledges to cut costs and do more with less.
The shares plunged by the most since 2017 after buybacks were shelved for two years and the executives themselves said more bad news was still to come – once they assess the economic damage wrought by the novel coronavirus.
In the overhaul announced on Tuesday, HSBC will slash about 35,000 staff – 15% of the total – and take $7.3 billion of charges, while it doubles down on Asia, source of most of the bank's profit, and cuts operations in the U.S. and Europe.
Left hanging was interim Chief Executive Officer Noel Quinn as Tucker and the board consider a permanent appointment. HSBC Chief Financial Officer Ewen Stevenson said the bank would be "ruthless" in executing its plan – the giant's third strategic overhaul in a decade – but he has an uphill struggle persuading shareholders. "The board are asking the market to take an enormous amount on trust," said analysts at Keefe, Bruyette & Woods, the specialist financial-services broker.
London-traded shares in HSBC, Europe's biggest bank by market value, tumbled as much as 7% to 549.50 pence, wiping out its gain so far in 2020.
While Tucker is returning the bank – founded in 1865 as the Hongkong and Shanghai Banking Corp. – to its roots with the sharpened focus on Asia, analysts noted the shortage of detail on how it plans to grow there.
For bank strategists, there might be a case of déjà vu: a 2018 plan by Quinn's predecessor, John Flint, fell flat on arrival. Flint was fired 13 months later. Tucker, who was hired in 2017 to revive growth at the sprawling lender, is still struggling to answer investors' question of why a bank with such a strong hold in some of the world's fastest-growing economies has been unable to produce a better return. The latest plan envisages cuts to under-performing businesses and regions, in particular HSBC's global banking and markets unit, which houses its investment bank. The bank has said it will reallocate $100 billion of risk-weighted assets to areas where it can make more money. The job cuts will put total staff at about 200,000.
main info:
-HSBC's adjusted pretax profit of $22.2 billion beat estimates, despite the multi-billion dollar charge for the restructuring. HSBC had been forecast to report adjusted pretax profit of $21.8 billion, according to analysts.
-The bank plans gross asset reduction of more than $100 billion by the end of 2022, and a lowered cost base of $31 billion or less by 2022
-Consumer banking and private banking will be merged into a single wealth platform
-Global banking and commercial banking middle and back offices to be combined
-Geographic reporting lines will fall from seven to four
https://www.bloomberg.com//news/articles/2020-02-18/hsbc-reboot-fizzles-sending-stockholders-looking-for-the-exits
>>8173577
silver just broke $18 and that triggered buy stops…gold needs to get up and over $1600 for that to habben to it.
8chan/8kun QResearch UK Posts (1)
#13665409 at 2021-05-15 03:23:02 (UTC+1)
Q Research UK #37: "Richard Trevithicks 250 Birthday" Edition
EUROPOL DIRECTOR CATHERINE DE BOLLE TRANSNATIONAL CRIME SYNDICATE BANK FRAUD BRIBERY "FORENSICS FILES" - HSBC BANK GROUP CFO Ewen Stevenson = "THE LLOYDS BANKING GROUP DAME CAROLYN FAIRBAIRN CRIME SYNDICATE STORY" = HSBC BANK GROUP NON-EXECUTIVE DIRECTOR DAME CAROLYN FAIRBAIRN = "THE BAE SYSTEMS PLC DAME CAROLYN FAIRBAIRN FRAUD BRIBERY STORY" = HSBC GLOBAL PRIVATE BANKING CEO ANNABEL SPRING = "THE HSBC BANK GROUP ANNABEL SPRING PETER STOKES FARNBOROUGH AIRPORT SEIZURES THEFT STORY" = MACQUARIE GROUP LONDON MANAGING DIRECTOR PETER STOKES = "THE HSBC BANK GROUP CHARLIE NUNN NASSAU BAHAMAS IDENTITY THEFT STORY" = LLOYDS BANKING GROUP CEO CHARLIE NUNN - CPS CRIMINAL "STANDARD OF PROOF" PROSECUTION FILES - INTERPOL DIRECTOR GENERAL JURGEN STOCK - SPANISH NATIONAL POLICE CORPS DIRECTOR GENERAL FRANCISCO PARDO PIQUERAS - GIBRALTAR FINANCIAL SERVICES COMMISSION - ROYAL GIBRALTAR POLICE COMMISSIONER RICHARD ULLGER QPM - CARROLL FOUNDATION TRUST = NAME-SWITCH = GERALD 6TH DUKE OF SUTHERLAND TRUST - PRIME MINISTER RT HON BORIS JOHNSON MP - HM ATTORNEY GENERAL RT HON SUELLA BRAVERMAN QC MP - 10 DOWNING STREET CABINET SECRETARY SIMON CASE - CHANCELLOR OF THE EXCHEQUER RT HON RISHI SUNAK MP - SECRETARY OF STATE FOR JUSTICE RT HON ROBERT BUCKLAND QC MP - UK NATIONAL SECURITY ADVISER SIR STEPHEN LOVEGROVE - HOME SECRETARY RT HON PRITI PATEL MP - MI5 SECURITY SERVICE DIRECTOR GENERAL KENNETH MCCALLUM - SIS SECRET INTELLIGENCE SERVICE MI6 DIRECTOR GENERAL RICHARD MOORE - ROYAL COURTS OF JUSTICE BIGGEST BANK FRAUD CASE IN THE WORLD
City of London Police leaked sources have revealed that the criminal prosecution files contain forensic specimen exhibits of two parallel Urban Finance Corporation structures which have been named as the Gerald 6th Duke of Sutherland Trust Urban Finance Corporation (Bahamas) Trust and the HSBC Investment Banking Urban Finance Corporation (Gibraltar) Trust which effectively underpinned the HM Treasury "sponsored" embezzlement break-up and multiple fraudulent liquidation offences "targeted" at the Gerald J. H. Carroll Trusts worldwide business empire.
In a stunning twist it has also emerged that HSBC Bank Group "in concert" with the Lloyds Banking Group fraudulently incorporated a Companies House "registered" Urban Finance Corporation Ltd group structure in what is known to have been yet another a bungled attempt to provided a diversionary corporate smokescreen for the embezzlement of more than a mind boggling two hundred and fifty million dollars of Gerald Carroll's huge treasury investment holdings which were held at the Queen's bankers Coutts & Co Lloyds Private Banking and Barclays International.
Scotland Yard leaked sources have said that the HSBC Bank Group are confronting major criminal allegations of conspiracy to defraud racketeering offshore tax fraud obstruction and bribery offences "centred around" what can only be termed as the "corporate hijacking" of two of the Carroll family lawyers respectively Withersworldwide and Clifford Chance whilst "in parallel" defrauding the HSBC Bank Group shareholders and the Gerald J. H. Carroll Trusts worldwide interests of more than two hundred and fifty million dollars of treasury investment holdings……
https://carrolltrustcase.com/organised-crime/europol-director-catherine-de-bolle-transnational-crime-syndicate-bank-fraud-bribery-forensics-files-hsbc-bank-group-cfo-Ewen-Stevenson-the-lloyds-banking-group-dame-carolyn-fairbairn-crime/