8chan/8kun QResearch Posts (17)
#8174502 at 2020-02-18 17:31:31 (UTC+1)
Q Research General #10464: President Trump 5D Chess Master Edition
HSBC To Cut 35,000 Jobs, Shed $100 Billion In Assets As Profits Plunge
Banks around the world are supposed to benefit the most from central banks inflating assets, and hyperinflating stock markets, but over the past few years, central banks have instead caused some of the biggest bank job cuts in half a decade.
HSBC, Europe's largest bank and troubled lender, although not nearly as troubled as Deutsche Bank, said it would cut upwards of 35,000 jobs, shed $100 billion in assets, and take a massive $7.3 billion hit to goodwill as part of a major overhaul under Chairman Mark Tucker, the company said in a press release on Tuesday morning.
This comes months after HSBC's interim CEO Noel Quinn unveiled plans to "remodel" large parts of the bank. The restructuring of the London-based bank is being led by Quinn, who replaced John Flint in August on an interim basis. Quinn is vying for the permanent role of CEO, which the bank said will be decided this year.
Europe's biggest bank by assets is expected to focus more on Asia and the Middle East, while it winds down operations in Europe and the US; HSBC derives at least 50% of its revenue in Asia. The bank said net profit plunged 53% to $5.97 billion last year, due to the $7.3BN goodwill hit and also thanks to the record low interest rates and NIRP unleashed by central banks.
Tucker said the bank faces substantial challenges in the UK, Hong Kong, and mainland China. He also issued a warning over the Covid-19 outbreak in China and quickly spreading across Asia to Europe, indicating that the virus could impact the bank's performance this year.
Quinn confirmed the bank would cut 15% of its workforce over the next two-three years. This is on top of the 10,000 jobs it axed in Oct.
"The totality of this program is that our headcount is likely to go from 235,000 to closer to 200,000 over the next three years," Quinn told Reuters. adding that "HSBC will be "exiting businesses where necessary."
"Around 30% of our capital is currently allocated to businesses that are delivering returns below their cost of equity, largely in global banking and markets in Europe and the U.S.," he noted.
In its long-struggling U.S. arm, Quinn said HSBC will cut assets in investment banking and markets by almost half, and shut around 70 of its 229 branches. As of September, HSBC was the U.S.'s 14th largest commercial bank according to Federal Reserve data, with around $181 billion assets. Mr. Quinn said he had considered putting the unit up for sale but decided against it because the U.S. is a crucial part of the bank's global network.
HSBC shares slid 6% on the restructuring news on Tuesday morning:
https://www.zerohedge.com/markets/hsbc-cut-35000-jobs-profits-plunge
#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.
#7348543 at 2019-08-05 04:58:51 (UTC+1)
Q Research General #9402 And Forward through Midnight Edition
Resignations in the news this weekend - part 1
Career moves including Santander, Sky and Yorkshire Water
https://www.financialdirector.co.uk/2019/08/05/career-moves-including-santander-sky-and-yorkshire-water/
Scientist who called out Bolsonaro on Amazon deforestation is fired
https://www.cnn.com/2019/08/03/americas/brazil-space-institute-director-fired-amazon-deforestation-intl/index.html
HSBC says CEO John Flint steps down in surprise exit as bank faces 'challenging' geopolitics'
https://www.straitstimes.com/business/banking/hsbc-ceo-John-Flint-to-step-down-in-surprise-exit
Retiring Judge Doug Hughes honored at reception
https://www.livingstonparishnews.com/news/retiring-judge-doug-hughes-honored-at-reception/article_71350234-b5ff-11e9-aa2a-efffe28a0762.html
Romania's interior minister resigns
https://www.africanews.com/2019/08/03/romania-s-interior-minister-resigns-international-edition/
Leon County Sheriff's Office human resources director fired, charged in alleged fraud scheme
https://www.tallahassee.com/story/news/2019/08/02/leon-county-sheriffs-office-human-resources-director-charged-alleged-fraud-scheme/1905760001/
$23,000 taken from New Orleans middle school sports league, four board members resign
https://www.wwltv.com/article/news/investigations/23000-taken-from-new-orleans-middle-school-sports-league-four-board-members-resign-wwl-tv-exclusive/289-930138f2-5f8a-4466-aa6c-82fdc7f4e7c8
Stater Bros. president retiring after long grocery career
https://www.vvdailypress.com/news/20190803/stater-bros-president-retiring-after-long-grocery-career
Maithri Gunaratne tenders resignation
http://www.adaderana.lk/news/56833/maithri-gunaratne-tenders-resignation
Fired Actor Jason Mitchell's Character In 'The Chi' Will Be [REDACTED]
https://hiphopwired.com/815796/fired-actor-jason-mitchells-character-in-the-chi-will-be-redacted/
Southern Province Governor resigns
http://www.adaderana.lk/news/56848/southern-province-governor-resigns
Rob Nesci retiring from Meriden Police Department next week after 25 years
http://www.myrecordjournal.com/News/Meriden/Meriden-News/Meriden-police-Det-Sgt-Rob-Nesci-retiring-next-week-after-25-years-with-department.html
Daytona homeless shelter board member Joe Forte resigns
https://www.news-journalonline.com/news/20190802/daytona-homeless-shelter-board-member-joe-forte-resigns
Superintendent McDuffy tells staff she's retiring at end of next school year
https://myedmondsnews.com/2019/08/breaking-superintendent-mcduffy-tells-staff-shes-retiring-after-three-years-with-district/
PewDiePie editor Brad1 resigns after five years
https://zeenews.india.com/world/pewdiepie-editor-brad1-resigns-after-five-years-2223642.html
Arredondo resigns from MUSD board
http://www.maderatribune.com/single-post/2019/08/03/Arredondo-resigns-from-MUSD-board
Director of Academic Excellence at GCU Retires
https://news.gcu.edu/2019/08/retiring-dave-smith-read-grads-names-and-a-lot-of-numbers/
Padam Cotton Yarns announces resignation of company secretary and compliance officer
https://www.business-standard.com/article/news-cm/padam-cotton-yarns-announces-resignation-of-company-secretary-and-compliance-officer-119080300812_1.html
'Troubled soul' Manasseh resigns from JoyNews
https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Troubled-soul-Manasseh-resigns-from-JoyNews-769184#
Sandra Snider retires from Life Bridges
http://clevelandbanner.com/stories/sandra-snider-retires-from-life-bridges,101471
#7345272 at 2019-08-05 00:50:34 (UTC+1)
Q Research General #9399: USMC Muddin! Semper Fi! Edition
HSBC Chief Executive Officer John Flint retires from his post - agency:
https://tass.com/economy/1071855
Photo: © EPA-EFE/GIAN EHRENZELLER
https://twitter.com/tassagency_en/status/1158163007895212034
4:49 PM - 4 Aug 2019
>>7344530 (lb notable) HSBC announces $1 billion buyback
#7345182 at 2019-08-05 00:42:42 (UTC+1)
Q Research General #9399: USMC Muddin! Semper Fi! Edition
Global Announcements
>>7337612 /patriotsfight/ placeholder thread deleted
>>7079301, >>7079338 BO summarizes bread reversion, no more captcha, and continued notables thread >>7003045
Bakers: Do not add Q's non-tripcoded posts to the dough
Notables
are not endorsements
#9398
>>7345110 July News Calendar
>>7344839 Edward Snowden wants to fight back against corporate surveillance
>>7344792, >>7344800, >>7344856 Police responding to explosion at hotel next to Nashville Int'l Airport
>>7344683, >>7345053 Presidential Message on the 229th Birthday of the United States Coast Guard
>>7344678 @USMC Muddin'
>>7344668 El Paso shooter's dad worked for mental health system with leadership tied to Parkland bun
>>7344612 Fox Corp to take over lender Credible Labs for $397 million
>>7344542 Triangle Spaghetti factory / Eliza Gauger diggz
>>7344530 HSBC announces $1 billion buyback
>>7345159 #9398
#9397
>>7344265 Don Banks died suddenly while covering the NFL Hall of Fame Ceremony
>>7344237, >>7344271 Halper/Downer pic
>>7344101 HSBC CEO John Flint is stepping down, according to Reuters
>>7343961 "Triangle Spaghetti Factory" went to that page and Guess Who follows it ...Hussein Obama capped it
>>7343959, >>7343968 Obama established his own standing Army on the Same Month and Day Hitler established his Brownshirts
>>7343904 Antifa/Q's
>>7343750 Mexico's FM may request extradition of person responsible for El Paso shooting
>>7343742 THEY CHANGED THE ACTOR
>>7343724, >>7343886, >>7343844 Halfchan found this twatter that hasn't been memory holed.He is Antifa.
>>7343701, >>7343765, >>7344054 They're swapping out the El Paso shooter, archive everything!
>>7343695, >>7344153 Anon constructs timeline of El Paso shooting. Manifesto posted 12 minutes AFTER shooting.
>>7344400 #9397
#9396
>>7343519, >>7343589 El Paso Shooter's Dad on the advisory board for a Children's Interest Seminar focused around emotional stressors
>>7343426 Connor and Megan Betts stats
>>7343392 Are Connor Bett and his sister twins?
>>7343225 Navy Region Southwest stripped of all court martial authority by the chief of naval operations.
>>7343232 8 people shot in Chicago
>>7343218 Moar on past owner of 8ch wanting it shut down
>>7343203 @USMC Marines conduct a simulated amphibious assault during #TalismanSabre 19 in Bowen, Australia 🇦🇺
>>7343118 El Paso shooter identity changed NYP
>>7343041 City of El Paso declares Disaster
>>7343031 Dems demand recall of Congress
>>7342968, >>7342999, >>7343177 Crime stats
>>7343610 #9396
Previously Collected Notables
>>7340576 #9392, >>7341350 #9393, >>7342091 #9394, >>7342874 #9395
>>7337531 #9388, >>7338290 #9389, >>7339066 #9390, >>7339828 #9391
>>7334415 #9384, >>7335242 #9385, >>7336334 #9386, >>7336763 #9387
>>7332076 #9380, >>7332287 #9381, >>7332895 #9382, >>7333705 #9383
Notables Thread #1, #8960-present: >>7003045
Notables Archive: https://8ch.net/qresearch/notables.html
Notables also archived here: >>>/comms/3396 (#740~#6384)
Plain text archives of all QR Notables https://pastebin.com/2f1897vD
#7344432 at 2019-08-04 23:40:52 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
>>7344101 HSBC CEO John Flint is stepping down, according to Reuters
———————-
Comey's early base.
#7344427 at 2019-08-04 23:40:36 (UTC+1)
Q Research General #9398: Dayton Descrepancies Delivered! Edition
Global Announcements
>>7337612 /patriotsfight/ placeholder thread deleted
>>7079301, >>7079338 BO summarizes bread reversion, no more captcha, and continued notables thread >>7003045
Bakers: Do not add Q's non-tripcoded posts to the dough
Notables
are not endorsements
#9397
>>7344265 Don Banks died suddenly while covering the NFL Hall of Fame Ceremony
>>7344237, >>7344271 Halper/Downer pic
>>7344101 HSBC CEO John Flint is stepping down, according to Reuters
>>7343961 "Triangle Spaghetti Factory" went to that page and Guess Who follows it ...Hussein Obama capped it
>>7343959, >>7343968 Obama established his own standing Army on the Same Month and Day Hitler established his Brownshirts
>>7343904 Antifa/Q's
>>7343750 Mexico's FM may request extradition of person responsible for El Paso shooting
>>7343742 THEY CHANGED THE ACTOR
>>7343724, >>7343886, >>7343844 Halfchan found this twatter that hasn't been memory holed.He is Antifa.
>>7343701, >>7343765, >>7344054 They're swapping out the El Paso shooter, archive everything!
>>7343695, >>7344153 Anon constructs timeline of El Paso shooting. Manifesto posted 12 minutes AFTER shooting.
>>7344400 #9397
#9396
>>7343519, >>7343589 El Paso Shooter's Dad on the advisory board for a Children's Interest Seminar focused around emotional stressors
>>7343426 Connor and Megan Betts stats
>>7343392 Are Connor Bett and his sister twins?
>>7343225 Navy Region Southwest stripped of all court martial authority by the chief of naval operations.
>>7343232 8 people shot in Chicago
>>7343218 Moar on past owner of 8ch wanting it shut down
>>7343203 @USMC Marines conduct a simulated amphibious assault during #TalismanSabre 19 in Bowen, Australia 🇦🇺
>>7343118 El Paso shooter identity changed NYP
>>7343041 City of El Paso declares Disaster
>>7343031 Dems demand recall of Congress
>>7342968, >>7342999, >>7343177 Crime stats
>>7343610 #9396
#9395
>>7342787 @NationalGuard These High Mobility Artillery Rockets really make an impact. Blast into your new #career:
>>7342640 Trump To Address Nation Monday Over Mass Shootings
>>7342543 POTUS may convene both Houses or either of them
>>7342595 Another Failed Ceasefire in Syria
>>7342483 Let's start with an investigation into how many of these operations are run and implemented by public and private intelligence agencies and mercenaries
>>7342347 Seems like everyone forgot to wish Obama a happy fake birthday today
>>7342429 Tom Emmer calls out Soros, Steyer and Bloomberg buying control of Congress
>>7342324, >>7342342 FBI Searching 3 Homes in Dallas Area in Connection to El Paso Walmart Mass Shooting
>>7342255 chairman of the Democratic super PAC Priorities USA, grouped Iowa and Ohio with Texas, Trump won all three by similar margins"
>>7342224 Mulvaney: "I blame the people who pulled the trigger. Is someone really blaming the president?
>>7342211, >>7342223, >>7342247, >>7342521 3 consecutive frames from the dayton "shooting"
>>7342160, >>7342253 Correction to LB notable, 8bit incorrect, Frederick Brendan is correct
>>7342874 #9395
Previously Collected Notables
>>7340576 #9392, >>7341350 #9393, >>7342091 #9394
>>7337531 #9388, >>7338290 #9389, >>7339066 #9390, >>7339828 #9391
>>7334415 #9384, >>7335242 #9385, >>7336334 #9386, >>7336763 #9387
>>7332076 #9380, >>7332287 #9381, >>7332895 #9382, >>7333705 #9383
Notables Thread #1, #8960-present: >>7003045
Notables Archive: https://8ch.net/qresearch/notables.html
Notables also archived here: >>>/comms/3396 (#740~#6384)
Plain text archives of all QR Notables https://pastebin.com/2f1897vD
#7344400 at 2019-08-04 23:38:55 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
#9397
>>7344265 Don Banks died suddenly while covering the NFL Hall of Fame Ceremony
>>7344237, >>7344271 Halper/Downer pic
>>7344101 HSBC CEO John Flint is stepping down, according to Reuters
>>7343961 "Triangle Spaghetti Factory" went to that page and Guess Who follows it ...Hussein Obama capped it
>>7343959, >>7343968 Obama established his own standing Army on the Same Month and Day Hitler established his Brownshirts
>>7343904 Antifa/Q's
>>7343750 Mexico's FM may request extradition of person responsible for El Paso shooting
>>7343742 THEY CHANGED THE ACTOR
>>7343724, >>7343886, >>7343844 Halfchan found this twatter that hasn't been memory holed.He is Antifa.
>>7343701, >>7343765, >>7344054 They're swapping out the El Paso shooter, archive everything!
>>7343695, >>7344153 Anon constructs timeline of El Paso shooting. Manifesto posted 12 minutes AFTER shooting.
#9397
#7344353 at 2019-08-04 23:35:45 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
HSBC says CEO John Flint to step down
HSBC (HSBA.L) on Monday announced the surprise departure of its Chief Executive Officer John Flint, 51, saying the bank needed a change at the top to address "a challenging global environment."
https://www.reuters.com/article/us-hsbc-hldg-ceo/hsbc-says-ceo-John-Flint-to-step-down-idUSKCN1UU0PH
HSBC first-half profit rises 16%, announces $1 billion buyback
HSBC (HSBA.L) reported on Monday its first-half pretax profit rose 15.9% and announced a further buyback of $1 billion, defying some analysts' expectations it might pause its strategy of returning extra capital to investors.
Europe's biggest bank by assets reported a pretax profit for the first six months of $12.41 billion, up from $10.71 billion in the same period a year earlier.
https://www.reuters.com/article/us-hsbc-results/hsbc-first-half-profit-rises-16-announces-1-billion-buyback-idUSKCN1UU0PR
returning capital to investors…sure whatever you say
outright buying own stock to keep it from imploding
#7344210 at 2019-08-04 23:25:17 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
>>7344101 HSBC CEO John Flint is stepping down, according to Reuters
>>7343961 "Triangle Spaghetti Factory" went to that page and Guess Who follows it ...Hussein Obama capped it
>>7343959, >>7343968 Obama established his own standing Army on the Same Month and Day Hitler established his Brownshirts
>>7343904 Antifa/Q's
>>7343883 So the Dayton shooters story, he died in 2014?
>>7343750 Mexico's FM may request extradition of person responsible for El Paso shooting
>>7343742 THEY CHANGED THE ACTOR
>>7343724, >>7343886, >>7343844 Halfchan found this twatter that hasn't been memory holed.He is Antifa.
>>7343701, >>7343765, >>7344054 They're swapping out the El Paso shooter, archive everything!
>>7343695, >>7344153 Anon constructs timeline of El Paso shooting. Manifesto posted 12 minutes AFTER shooting.
#9397
>>7344204
#7344131 at 2019-08-04 23:19:22 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
>>7344101
>HSBC CEO John Flint is stepping down
NOTABLE RESIGNATION
#7344101 at 2019-08-04 23:17:12 (UTC+1)
Q Research General #9397: El Paso shooter changes Identity! Edition
HSBC CEO John Flint is stepping down, according to Reuters.
#6548966 at 2019-05-21 06:06:14 (UTC+1)
Q Research General #8374: Transparency Edition
HSBC plans more China tech jobs in push for market share
HONG KONG (Reuters) - HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development centers in China, as the Asia-focused lender seeks to bolster its presence in the world's second largest economy. Europe's biggest bank by assets will boost headcount at its technology centers in Guangzhou, Shanghai and Xi'an by 14% from a current 7,000-strong workforce, said HSBC Chief Information Officer Darryl West. In recent years the London-based bank has spent $3 billion annually on its group technology operations which employ 40,000 people worldwide, and West said annual investments of $3-$3.5 billion are planned over the next few years.
Many global banks set up low-cost hubs in China and India more than a decade ago to maintain their complex worldwide information technology networks, but these centers have now become a core part of their operations. The centers develop and implement risk and fraud management technologies, as well as digital applications that make it easier for banks to attract customers and deliver faster and more secure services. HSBC's expansion plan in China, a key market for the bank, comes amid growing use of technology in the financial sector - from payments to transactions. At stake is a bigger share of the billions of dollars worth of retail and corporate banking business in a major financial market with a growing customer base.
"There is a lot more we can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets," West told reporters during a tour of HSBC's technology center in the southern city of Guangzhou last week. "We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here," he added.
RETAIL BANKING About 30% of the work done at the Guangzhou center, the largest HSBC tech facility in China with more than 5,000 employees, is for the mainland market and that share is expected to grow over the next couple of years. HSBC is also using China-based tech centers to develop banking products for its global network, such as the bank's U.K. mobile app which was developed in the northwestern city of Xi'an. Outside China, HSBC employs more than 10,000 people at technology centers in India, with the rest in countries such as Britain, Canada, Hong Kong and the United States.
HSBC has in recent years lifted investment in China, including the prosperous southern Pearl River Delta region. Mainland China and Hong Kong together accounted for nearly 40% of the bank's revenue in 2018. The bank will invest $15-$17 billion in the next three years in areas including technology and China, its Chief Executive John Flint said last year. The limited physical presence of foreign banks in China compared to dominant domestic rivals has been a challenge.
HSBC's losses in retail banking and wealth management (RBWM) in mainland China widened to $200 million last year from $44 million in 2017. The bank aimed to reverse that with its investments in technology. "Things like that, we see as very important for the next phase of our business growth … once the major investments have gone in, RBWM will grow bigger and also profitable," said HSBC Greater China Chief Executive Helen Wong.
https://www.reuters.com/article/us-hsbc-hldg-china/hsbc-plans-more-china-tech-jobs-in-push-for-market-share-idUSKCN1SR0C1?il=0
#6308988 at 2019-04-25 14:12:42 (UTC+1)
Q Research General #8068: Stay Tuned Edition
Wall Street bankers make triumphant return to Saudi Arabia just in time for mass beheadings
Global finance leaders, who boycotted the Saudi investment summit last year over the murder of journalist Jamal Khashoggi, have returned to Riyadh despite the beheadings of dozens of people this week.
Big investors, particularly from Wall Street, joined panels at the two-day financial forum which began on Wednesday in Riyadh.
Larry Fink, CEO of US investment corporation BlackRock, told the conference that his company had bought some of Saudi state-owned oil giant Aramco's bonds and was looking for other "opportunities" in the kingdom.
"This is an economy that we have a lot of confidence in, I think the future is bright," he said, adding: "We are excited about the role that we can continue to play here."
Fink added: "The changes here in the kingdom in the last two years are pretty amazing."
He was joined by HSBC CEO John Flint, co-president of JPMorgan Chase Daniel Pinto, and others. Goldman Sachs CEO David Solomon reportedly visited Riyadh earlier this month, just days before the bank helped arrange a multibillion dollar bond sale for Aramco.
The summit is taking place as Riyadh announced on Tuesday it had executed 37 people in connection with alleged 'terrorism crimes.' The majority of those killed were Shiite Muslims.
United Nations High Commissioner for Human Rights Michelle Bachelet condemned the mass executions, calling them "shocking" and "abhorrent." "At least 3 [of the men] were minors when sentenced & one of the men's bodies was put on public display," her office said in a statement on Twitter.
https://www.rt.com/business/457514-wall-street-saudi-executions/
#5825804 at 2019-03-22 14:22:07 (UTC+1)
Q Research General #7452: Hot Crew Swap Edition
Deutsche Bank chief paid $8 million as top bosses gain first bonuses for four years
FRANKFURT (Reuters) - Deutsche Bank paid its management board members their first bonuses in four years in 2018, with Christian Sewing's 7 million euro (6.03 million pounds) total package making him one of the best paid chief executives in European banking.
Deutsche Bank's politically sensitive pay disclosures, which were revealed in its annual report on Friday, come as it contemplates a merger with Commerzbank, which unions fear could lead to up to 30,000 job cuts.
Sewing, who became CEO in April last year, led Deutsche Bank to its first profit in four years and is heading the talks with Commerzbank. He earned 2.9 million euros for 2017.
His 2018 pay was higher than that of CEOs at several other major European investment banks, including HSBC's John Flint and Barclays boss Jes Staley.
However, the Deutsche Bank CEO received less than his Credit Suisse counterpart Tidjane Thiam, who received 12.65 million Swiss francs (9.7 million pounds).
Deutsche Bank's annual report also revealed that its management board received total pay, including bonuses, of 55.7 million euros in 2018, up from 29.8 million euros a year earlier.
The overall bonus pool for 2018 was 1.9 billion euros, down 14 percent from 2.3 billion euros a year earlier, partly as a result of a reduction in headcount, Deutsche Bank said.
Bonuses are a sensitive issue in Germany, where many politicians and public opinion are critical of high pay and Anglo-Saxon style capitalism.
Fabio De Masi, a prominent leftist lawmaker in the German parliament, said that anyone who can pay 1.9 billion in bonuses does not need to cuts jobs.
"The board doesn't have all their wits about them," De Masi said.
Gerhard Schick, finance activist at Finanzwende and a former member of the German parliament, questioned Deutsche Bank's bonuses if they were meant as incentives for good performance.
"It adds to the negative overall picture of the bank, which is reeling from scandals and now apparently wants to plunge into a bad merger," Schick said.
A spokesman for Deutsche Bank declined to comment.
LITIGATION COSTS
Deutsche Bank has paid large fines for past misdeeds, including a $7.2 billion U.S. penalty in 2017, spooking clients.
Last year it was ensnared in a money laundering scandal involving Danske Bank and its offices were raided over two days in November in relation to a separate inquiry.
Litigation costs are expected to be "significantly higher" in 2019 than in 2018, Deutsche Bank said in the report.
John Cryan, Sewing's predecessor, received 8.7 million euros in severance pay and a 2.2 million euro payment to compensate him for what he could earn with a competitor.
Last year's management reshuffle, which involved Cryan and three other board members, was costly for Deutsche Bank, which paid a combined 25.8 million euros in severance and restraint on competition fees for the four executives, figures in the annual report and provided by the bank revealed.
Garth Ritchie, head of Deutsche's investment bank, was the highest paid board member with earnings of 8.6 million euros last year.
Deutsche Bank pared down the investment bank last year, particularly in the United States, as part of efforts to cut costs.
An executive with Blackrock, a major investor in both Deutsche Bank and Commerzbank, said that a merger between the two lenders "will not work" if the "objective in this operation is to try yet again to create a large, U.S.-inspired investment bank operation".
https://www.marketscreener.com/BARCLAYS-9583556/news/Deutsche-Bank-chief-paid-8-million-as-top-bosses-gain-first-bonuses-for-four-years-28210912/?countview=0
#3523515 at 2018-10-18 21:01:02 (UTC+1)
Q Research General #4469: "Logical thinking v clickbait" Edition
SA CONFERENCE ATTENDEE DROP OUTS, So far
List is copy-pasta and incomplete.
NOTE: LdR does not appear on any site reporting the shortened attendees list, however we know the evil woman was one of the first to retract her invitation (pic related)
International Monetary Fund chief Christine Lagarde
Treasury Secretary Steven Mnuchin
U.S. Energy Secretary Ernest Moniz
HSBC chief executive John Flint
Credit Suisse CEO Tidjane Thiam
MasterCard CEO Ajay Banga
BNP Paribas chairman Jean Lemierre
Societe Generale CEO Frederic Oudea
JPMorgan Chase CEO Jamie Dimon
BlackRock chief Larry Fink
Blackstone CEO Stephen Schwarzman
Standard Chartered CEO Bill Winters
Industry/technology
Ford chairman Bill Ford
Uber CEO Dara Khosrowshahi
British billionaire Richard Branson
Thrive CEO Ariana Huffington
Google Cloud CEO Diane Greene
Viacom CEO Bob Bakish
In addition, multiple media groups have withdrawn executives or journalists who were scheduled to join panels at the conference, including CNN, Bloomberg, The Economist, the New York Times, CNBC and the Financial Times.
Cont'd: (forgive possible duplicates)
- Steve Case, venture capitalist
- Dr. Patrick Soon-Shiong, Los Angeles Times owner
- Robert Simonds, STX Entertainment CEO
- Joanna Popper, HP Inc. virtual reality executive
- Andy Rubin, creator of the Android mobile operating system
- Rodger Novak, co-founder of CRISPR Therapeutics AG
All are touting the mysteries surrounding Khashoggi's disappearance and/or murder (still somewhat unclear of actual events).
It's interesting to recall that prior to last year's conference, scores of the kingdom's businessmen, princes and officials were rounded up in the Ritz-Carlton Hotel just days after last year's conference in what the government.
Could it be another round-up was planned but a multi-national one? And that these business men got wind of the operation and are using the Khashoggi story to deflect and avoid arrest?
#3523346 at 2018-10-18 20:46:03 (UTC+1)
Q Research General #4468: Manna for Montana Edition
International Monetary Fund chief Christine Lagarde
Treasury Secretary Steven Mnuchin
HSBC chief executive John Flint
Credit Suisse CEO Tidjane Thiam
MasterCard CEO Ajay Banga
BNP Paribas chairman Jean Lemierre
Societe Generale CEO Frederic Oudea
JPMorgan Chase CEO Jamie Dimon
BlackRock chief Larry Fink
Blackstone CEO Stephen Schwarzman
Standard Chartered CEO Bill Winters
Industry/technology
Ford chairman Bill Ford
Uber CEO Dara Khosrowshahi
British billionaire Richard Branson
Thrive CEO Ariana Huffington
Google Cloud CEO Diane Greene
Media
Viacom CEO Bob Bakish
In addition, multiple media groups have withdrawn executives or journalists who were scheduled to join panels at the conference, including CNN, Bloomberg, The Economist, the New York Times, CNBC and the Financial Times.
Virgin Group founder Richard Branson
- Bob Bakish, Viacom Inc. chief executive
- Dara Khosrowshahi, Uber Technologies Inc. CEO
- Steve Case, venture capitalist
- Dr. Patrick Soon-Shiong, Los Angeles Times owner
- Robert Simonds, STX Entertainment CEO
- Joanna Popper, HP Inc. virtual reality executive
- Andy Rubin, creator of the Android mobile operating system
- Rodger Novak, co-founder of CRISPR Therapeutics AG
U.S. Energy Secretary Ernest Moniz
Scores of the kingdom's businessmen, princes and officials were rounded up in the Ritz-Carlton Hotel just days after last year's conference in what the government