(Bloomberg) -- HSBC Holdings Plc announced a fresh buyback program and hinted at the potential for further returns to investors despite announcing profits...
-- HSBC Holdings Plc announced a fresh buyback program and hinted at the potential for further returns to investors despite announcing profits for the third-quarter that missed market expectations.How This Israel-Hamas Conflict Is Like Nothing That’s Happened Before
Pretax profit of $7.7 billion for the three months through September fell short of the $8.1 billion estimated by analysts tracked by the company. Quinn said that was in part due to a $600 million charge in relation to its hedging strategy, which would benefit the bank in subsequent quarters. “I think we are at the bottom of the market, but it will take quite a while for that market to recover and regain momentum,” he said on Bloomberg Television. “I’m not expecting a massive reversal in that sector in the next 12 months or so, but I do expect it to be a gradual improvement from where we are.”
Global banking and markets revenues rose 2% to $3.9 billion. A particular bright spot for the business were its global debt markets and securities financing units which both recorded double-digit year-on-year rises in revenues that helped negate the impact of falling earnings from foreign exchange and equities.
Bill Gates Celebrates His 68th Birthday with Celebratory Post from Daughter Jennifer — See the Photo!TORONTO — Unifor says Canadian autoworkers have gone on strike at Stellantis operations in Canada after failing to reach a deal by Sunday's deadline. A statement from the union says more than 8,200 workers have walked off the job at all Stellantis facilities. Unifor National President Lana Payne says the union has made progress and will continue to negotiate through the night.
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