Banks commit $750 billion in fossil fuels despite pledging to support net-zero emissions

Banks commit $750 billion in fossil fuels despite pledging to support net-zero emissions

By Anna Domanska - Mar 26, 2021

The drive for sustainable energy funding gained momentum after the public health crisis and the fallout of climate change and natural disasters on the global economy. According to

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HSBC turns to Asia for future growth

HSBC turns to Asia for future growth

By Anna Domanska - Feb 24, 2021

The bank’s maximum pre-tax benefits (90%) come from its Asian business. Chairman Mark Tucker and chief executive Noel Quinn are struggling to meet its business demands in Sin

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HSBC commits nearly $1 trillion to achieve net zero emissions by 2050

HSBC commits nearly $1 trillion to achieve net zero emissions by 2050

By Christy Gren - Oct 09, 2020

With a portfolio of Asian clients that rely on fossil fuel investments, HSBC will be in a difficult position to realize its commitment to zero emissions by 2050.

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HSBC shares sink to 25-year- low in Hong Kong

HSBC shares sink to 25-year- low in Hong Kong

By Christy Gren - Sep 21, 2020

British investment bank HSBC shares sink to a deepest 25-year low in Hong Kong

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HSBC to shed 35,000 jobs as bank revives redundancy plan

HSBC to shed 35,000 jobs as bank revives redundancy plan

By Anna Domanska - Jun 17, 2020

HSBC revives redundancy plan it put on hold after the coronavirus outbreak, and will axe 35,000 jobs over the medium term. The bank’s CEO Noel Quinn said in a memo to staff Wedne

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British Companies Paid Back £25 billion in PPI Compensation Claims

British Companies Paid Back £25 billion in PPI Compensation Claims

By Anna Domanska - Apr 22, 2016

British firms involved in the payment protection mis-selling scandal have now reimbursed more than £23 billion to customers, by most recent information from the Financial Conduct

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China’s Manufacturing Activity Shows Signs of Stabilizing

China’s Manufacturing Activity Shows Signs of Stabilizing

By Anna Domanska - Jun 24, 2015

In June, China’s manufacturing activity showed signs of stabilizing. Two nongovernment reports suggested that the economy might be gaining momentum, and other analysts anticipate

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HSBC Holding sheds about 50,000 jobs in push to cut billions in costs

HSBC Holding sheds about 50,000 jobs in push to cut billions in costs

By Carrie Ann - Jun 09, 2015

On Tuesday, British multinational banking company – HSBC Holding plc, in a major revamping of its global strategy said that it would eliminate as many as 50,000 jobs, as it is se

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HSBC Chairman Warns of Growing Risk Aversion

HSBC Chairman Warns of Growing Risk Aversion

By Carrie Ann - Aug 04, 2014

The chairman of HSBC has cautioned that the apprehension of robust fines was constraining banks to end up risk averse in the midst of unprecedented regulatory changes after the rec

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