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The Latest Breaking News from HSBC

Banks start cutting mortgage rates for first time since disastrous mini-Budget

Banks and building societies are starting to cut prices for their new mortgages, offering relief to struggling homeowners facing soaring home loan prices this year

Daily Mirror

HSBC profits slide on bank impairment charges

London (AFP) - Global bank giant HSBC on Tuesday announced tumbling profits for the third quarter on impairment charges linked to a weak economic outlook and its upcoming sale of French retail operations.

AFP

Calls for UK banks windfall tax as HSBC reports profits of $700m more than predicted

Bank records quarterly profits above $3.2bn estimated as interest rates rise on back of higher borrowing costs

The Guardian - UK

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Sterling rises to highest level since before Liz Truss’s mini-budget – as it happened

Live, rolling coverage of business, economics and financial markets as business group warns on austerity ‘doom loop’ and investors buy UK bonds

The Guardian - UK

HSBC ditches finance chief as calls for windfall tax grow

HSBC today kicked off bank reporting season with a boom in profits that is likely to add to calls for a windfall tax on the sector – and revealed the surprise departure of number two executive Ewen Stevenson.

Evening Standard

FTSE 100 Live: Jeremy Hunt to stay as chancellor; HSBC profits fall

Big Tech shares were shaken last night after Google and YouTube parent company Alphabet posted weaker-than-expected revenues and earnings figures.

Evening Standard

HSBC profits fall on French retail impairment charge

Hong Kong (AFP) - HSBC on Tuesday said pre-tax profit slipped more than 40 percent in the third quarter, with the bank citing an impairment on the planned disposal of its retail banking operations in France.

AFP

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Life in 'Nottingham's very own Soho' where neighbours have 'everything they need'

People have spoken out about what life is like in one Nottingham town

Nottingham Post

Banks may see higher tax as a price worth paying for economic stability

Third-quarter profits will be subdued, but many lenders will accept a tax raid to boost the public finances (and their own image)

The Guardian - UK

Sandman hotel group seals multimillion-pound refinance deal to fuel future growth

The owners of the Sandman Hotel Group has made a number of acquisitions, and now has the funds to make more

Birmingham Post

HSBC 'green' ads banned because they did not give information on bank's own emissions

The bank was told by the Advertising Standards Authority to ensure 'future marketing communications featuring environmental claims were adequately qualified'

Wales Online

Watchdog bans HSBC climate ads in fresh blow to bank’s green credentials

Lender told it must in future acknowledge its role in climate crisis after ‘misleading’ Cop26 campaign

The Guardian - UK

HSBC ‘green’ ads banned for omitting information about bank’s own emissions

The posters, seen on bus stops in Bristol and London in October 2021, read ‘Climate change doesn’t do borders’.

The Independent UK

Chris Pitt of First Direct: ‘We’re the best unfound bank in Britain’

The chief executive pulled out all the stops for customers with their mortgages during the mini-budget turmoil. Now he wants to double their number

The Guardian - UK

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The Guardian - UK

Cost of living crisis: are you missing out on help from your employer?

Many firms are giving extra assistance, but there may be existing schemes you can use

Daily Record

Restaurant plans for former bank branch in Perth city centre are rejected following petition

The objectors said the kitchen smells would be a “detriment” to surrounding residents

Birmingham Post

Cleethorpes venue banking on cocktails in customer-led switch from bar/restaurant to club vibe

The Counting House opened in former HSBC more than five years ago serving food and drinks

Manchester Evening News

The companies giving cash to staff to help with the cost of living - and how much each will get

Around one in every 20 big firms have offered support to staff

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Benzinga

Tesla To Feel Pressure After Musk's Twitter-Deal News; OPEC Output Cut Disappoints Biden; Shell Profits Low: Top Stories Thursday, Oct. 6

Benzinga

Birmingham Post

What's next for identity tech company GB Group after takeover talks end with Chicago private equity firm

GB Group works with the likes of Volvo, HSBC, eBay, John Lewis and Asos

Evening Standard

HSBC explores sale of Canadian operations after calls for break-up

HSBC has come under pressure from its largest shareholder to improve profits

Wales Online

Repossession ‘bloodbath’ fear from homeowner as mortgage set to outgrow benefits

Nicholas Wilson, 65, says his mortgage payments have almost doubled since February

The Independent UK

Homeowner fears repossession ‘bloodbath’ as mortgage set to outgrow benefits

Nicholas Wilson is struggling to afford his mortgage payments, which have almost doubled since February.

Benzinga

Vietnam Law May Impact Facebook, Twitter; Amazon Has A Sleep Tracker; India Lures Apple, Dell, HP: Top Financial Media Stories Thursday, Sept. 29

Reuters

Daily Mirror

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

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