Tag Archives: HSBC

Financial Daily Dose 11.08.2019 | Top Story: US and China Set to Roll Back Tariffs as Part of Trade Deal First Phase

BY: Michael D. Reif | November 8, 2019

The U.S. and China have tentatively [maybe?] agreed that a first phase of a trade agreement “would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the world’s largest economies.” Though nothing’s signed at this point, the commitment-in-principle “marks the first time the United States … Continue reading

Financial Daily Dose 10.29.2019 | Top Story: AT&T Reaches Accord with Elliott Management to End Activist Challenge

BY: Michael D. Reif | October 29, 2019

AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to be split upon his departure. AT&T also revealed that it will shed up to $10 billion of … Continue reading

Financial Daily Dose 10.7.2019 | Top Story: Talks Between GM and UAW Falter as Strike Hits Fourth Week

BY: Michael D. Reif | October 7, 2019

Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week – NYTimes and WSJ and Bloomberg Things at Nissan are getting worse—much worse—before getting better in the wake of the Carlos … Continue reading

Financial Daily Dose 8.5.2019 | Top Story: HSBC Ousts CEO After 18 Months and Cuts 4,000 Jobs

BY: Michael D. Reif | August 5, 2019

HSBC chief John Flint is out just 18 months after he assumed the role as head of the London-based bank, likely due to clashes with Board Chair Mark Tucker and the lender’s focus on expanding in China. HSBC also announced it will shed 4,000 jobs in an effort to improve finances – Bloomberg and NYTimes … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | January 11, 2019

Ford announced yesterday that it plans to cut “thousands of jobs across Europe” as the automaker tries to cut costs while dealing with more stringent emissions rules and decreasing demand. The company didn’t say officially how many of its 68,000 European workers could be on the chopping block – NYTimes and WSJ As we’ve been … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 21, 2018

Walmart’s shares took a hit yesterday on Q4 results that showed slowing online sales and below-expected earnings despite a rise in revenue – NYTimes and WSJ and Bloomberg Federal Judge Richard Leon dealt a blow on Tuesday to AT&T’s attempt to argue that the government challenged its merger with Time Warner for political reasons by … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | December 12, 2017

HSBC announced yesterday that, 5 years after its controversial deferred prosecution agreement with the DOJ following the Swiss bank’s 2012 $1.9 billion payment over money-laundering allegations, it’ll be released from those criminal charges – NYTimes and WSJ The Journal explores the limits of hedge funds trying to use machine learning to guide its trading strategies.  … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | October 24, 2017

A federal jury in Brooklyn has found former HSBC Holdings exec Mark Johnson guilty on 9 counts of front-running that grew out of the DOJ’s investigation into forex manipulation at HSBC – WSJ and Law360 and Bloomberg John Flannery’s recent cuts at GE haven’t been just about a new CEO putting his stamp on the … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | October 13, 2017

HSBC’s making good on its plans to shift to a focus on Asia by naming John Flint—who spent his first 14 years at the bank in Asia—as its new CEO. Flint will take over from Stuart Gulliver in February – NYTimes and WSJ and Bloomberg Tech startup Outcome Health—which “installs video screens in doctors’ offices … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 13, 2017

There’s a Fed/White House battle a-brewin’, and this Wednesday’s expected Fed move to raise rates could be a shot across the bow – NYTimes That move and another Brexit milestone are likely to impact markets this week – WSJ Another tech-related disappointment for the Winklevii, this time with ramifications for an entire means of payment, … Continue reading