With many industry analysts predicting weak profitability for the finance sector this year, global financial giant HSBC has begun scaling back its operations. The bank is exiting several global markets and shutting down some of its services in favour of prioritising wealth management in the Middle East and Asia. Multiple Market Exits as Part of … Read more
The Hong Kong Monetary Authority has picked 10 banks and four technology partners to test more than a dozen use cases for generative artificial intelligence (GenAI) in the financial services sector. HSBC, Bank of China (Hong Kong) and Standard Chartered will pilot several intelligent applications and systems in a sandbox as part of a plan … Read more
JSW MG Motor India on Monday said it has formed a strategic partnership with HSBC India, which will provide access to comprehensive and tailor-made financing solutions at competitive terms to the car maker’s dealer partners. Leveraging HSBC India’s expertise will provide easy access to working capital for the company’s dealer network, JSW MG Motor India … Read more
Douyin, the Chinese version of TikTok, led all other platforms with a 26.2 per cent surge in GMV, followed by Pinduoduo’s 17.7 per cent and Kuaishou’s 16.1 per cent. Alibaba and JD.com saw GMV grow 12 per cent and 5.7 per cent, respectively, according to Analysys. Workers sort parcels at an express logistics company in … Read more
Finance Minister Chrystia Freeland has approved RBC’s $13.5-billion takeover of HSBC Canada, despite calls from opposition politicians and other groups to block it over concerns of reduced competition. Freeland’s approval was the last hurdle for the deal after the Competition Bureau approved it in September. The minister’s approval comes with conditions on RBC, including that … Read more
With a major deadline to repay a pandemic era loan just over a month away, one small business owner says she’s only now being told she was never eligible for the money in the first place. The Canada Emergency Business Account (CEBA) was introduced at the height of the pandemic to help out small businesses … Read more
