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Apr 30, 2024
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profits and announces that ceo noel quinn is to retire. explosion the day—to—day disruption of life next to a cobalt mine as the world rushes to secure the minerals vital for the green transition. hello. if you've destroyed us, you are in the nick of time for the top money stories with me, sally bundock. we start here in the uk where the second phase of britain's new post—brexit border controls for imports from the european union have come into force. from today, businesses face new checks and charges for food and plants coming across the border including a fee, known as the "common user charge". it will now apply to animal products and plants entering through the port of dover and the eurotunnel, with individual products facing charges of up to £29. but mixed consigments of things like salami sausage, cheese and yoghurt subject to fees of up to a £145. the government says the money will pay for border inspections and new world—class facilities to protect biosecurity. goods from ireland will be exempt for now. here's our chief ec
profits and announces that ceo noel quinn is to retire. explosion the day—to—day disruption of life next to a cobalt mine as the world rushes to secure the minerals vital for the green transition. hello. if you've destroyed us, you are in the nick of time for the top money stories with me, sally bundock. we start here in the uk where the second phase of britain's new post—brexit border controls for imports from the european union have come into force. from today, businesses face new...
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Apr 30, 2024
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what do we know about noel quinn's departure? russell: this was a big surprise , coming during an otherwise relatively uneventful earnings season report. noel quinn said he is going to resign but he will stick around while they choose a new candidate. that process is already underway. it is being led by chairman mark tucker. it is going to be a smooth transition is what noel quinn said. they are looking at internal and external candidates. noel quinn, after almost five years, is pulling the pin on his leadership at hsbc. paul: do we have any idea about who might be able to fill his shoes, and what sort of challenges are they going to face to continue to grow the business? russell: as i mentioned, they are looking at internal and external candidates. in terms of the internal candidates, people who could be in the running is the cfo who has been cfo since the start of last year. other candidates, the wealth that, commercial had. in a sense, they have the time, they can wait around to look for some outside talent as well. that could
what do we know about noel quinn's departure? russell: this was a big surprise , coming during an otherwise relatively uneventful earnings season report. noel quinn said he is going to resign but he will stick around while they choose a new candidate. that process is already underway. it is being led by chairman mark tucker. it is going to be a smooth transition is what noel quinn said. they are looking at internal and external candidates. noel quinn, after almost five years, is pulling the pin...
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Apr 30, 2024
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we are getting news that noel quinn is retiring. that is a surprise departure and said the formal process to find a successor is already under way. quinn took over at hsbc in march of 2020 steering the bank through the pandemic and rise in interest rates. hsbc posted a pre-tax profit of $12.7 billion. shares up 2%. the profit in the first three months of the year was ahead of estimates, but slightly down on the year. >>> santander saw net interest income grow by 18% on the year to the highest level at 11.98 billion euro. charlotte has more on the earnings report. >> thank you, frank. you were saying the result was below expectations for santander. they are on track to meet the 2024 target with the single digit growth revenue this year and return of tangible equity up 16%. it is 14.9% in the first quarter. looking at the different parts with the geography, there is a criticism from santander with the spread of latin america and europe, but it has offset the weakness in some markets. spain boosting the economy on the higher net intere
we are getting news that noel quinn is retiring. that is a surprise departure and said the formal process to find a successor is already under way. quinn took over at hsbc in march of 2020 steering the bank through the pandemic and rise in interest rates. hsbc posted a pre-tax profit of $12.7 billion. shares up 2%. the profit in the first three months of the year was ahead of estimates, but slightly down on the year. >>> santander saw net interest income grow by 18% on the year to the...
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Apr 30, 2024
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hsbc ceo noel quinn is retiring. a surprise announcement as they unveiled a 3 billion-dollar buyback. japanese stocks rally, a wild 24 hours for the yen. chinese stocks edge lower. inflation numbers including ecb rate cuts. top corporate's report. we focus on autos and airlines. the numbers crossing when it comes to mercedes, scrutinizing the margin. first quarter adjusted earnings before interest and tax below estimates. it's famous. we knew it would be challenging. estimates had been for 3.7 one billion. they see full-year cars adjusted 10 to 12% so they maintain guidance in terms of the margin. estimates had been for 11.1 so they range between 10 and 12%, they struggled. were going to try to get more details. cost inflation has been a challenge that hit volumes. looking for supply constraints, they are again coming through. adjusted earnings below estimates. estimates are for 3.71, so let's switch focus to the airlines. german airlines struggled with industrial action. profit has been hit by strikes and first quar
hsbc ceo noel quinn is retiring. a surprise announcement as they unveiled a 3 billion-dollar buyback. japanese stocks rally, a wild 24 hours for the yen. chinese stocks edge lower. inflation numbers including ecb rate cuts. top corporate's report. we focus on autos and airlines. the numbers crossing when it comes to mercedes, scrutinizing the margin. first quarter adjusted earnings before interest and tax below estimates. it's famous. we knew it would be challenging. estimates had been for 3.7...
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Apr 30, 2024
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noel quinn is retiring. this was on the back of the first quarter announcements. they announced the ceo will be leaving. at the moment, we have seen shares moving higher by 3%. when it comes to volkswagen, also an important story that we are following this morning. operating profits declined 20% in the first quarter. this is an important story to monitor in the context of geopolitics. we are seeing shares moving lower by 2.3%. lastly, on the tech space, we are looking at logitech. the company reported a 5 % bump in sales for the 40 qufourth qu. frank. >> silvia, thank you very much. big day for economic data and earnings in europe. we appreciate the report. >>> turning attention back to the u.s. today is the halfway point of earnings season and a big one with dozens of companies reporting. amazon, mcdonald's and coca-cola and 3m reporting. it marks the start of the t two-day policy meeting with the powell press conference at 2:00 p.m. tomorrow. the fed may be expected to keep the policy rate on hold and hint at a timeline for the cut, but the treasury markets are
noel quinn is retiring. this was on the back of the first quarter announcements. they announced the ceo will be leaving. at the moment, we have seen shares moving higher by 3%. when it comes to volkswagen, also an important story that we are following this morning. operating profits declined 20% in the first quarter. this is an important story to monitor in the context of geopolitics. we are seeing shares moving lower by 2.3%. lastly, on the tech space, we are looking at logitech. the company...
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Apr 30, 2024
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europe's largest bank, hsbc, reports better—than—expected profits and announces that ceo noel quinn is to retire. explosion the day—to—day disruption of life next to a cobalt mine as the world rushes to secure the minerals vital for the green transition. hello. if you've destroyed us, you are in the nick of time for the top money stories with me, sally bundock. we start here in the uk where the second phase of britain's new post—brexit border controls for imports from the european union have come into force. from today, businesses face new checks and charges for food and plants coming across the border including a fee, known as the "common user charge".
europe's largest bank, hsbc, reports better—than—expected profits and announces that ceo noel quinn is to retire. explosion the day—to—day disruption of life next to a cobalt mine as the world rushes to secure the minerals vital for the green transition. hello. if you've destroyed us, you are in the nick of time for the top money stories with me, sally bundock. we start here in the uk where the second phase of britain's new post—brexit border controls for imports from the european...
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Apr 8, 2024
04/24
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we will hear more from that exclusive interview with the ceo , noel quinn. stay with us. this is bloomberg. ♪ welcome back to bloomberg daybreak euro. we will head to africa now where zimbabwe is reprising its battered dollar with a new unit that will be backed by currencies, gold and other precious metals. this is a byway six attempt to have a functional currency since 2008. just talk to us about this transition to the new currency. >> it has been a long time coming judging from the current state of the zimbabwe economy. inflation is high. this about wayne dollar has lost near 7.5% of its value to the dollar this year alone. that was -- they waited with bated breath. the central bank says they have up to 285 billy does up is truly happening is are we calibrate in their systems and raising the current balances in the central bank governor who assumed his role a month earlier that inspected says a couple of changes becoming. part of these changes is wanted to show the zimbabwe currency also destabilizes so they can have some stability in the prices of goods and services.
we will hear more from that exclusive interview with the ceo , noel quinn. stay with us. this is bloomberg. ♪ welcome back to bloomberg daybreak euro. we will head to africa now where zimbabwe is reprising its battered dollar with a new unit that will be backed by currencies, gold and other precious metals. this is a byway six attempt to have a functional currency since 2008. just talk to us about this transition to the new currency. >> it has been a long time coming judging from the...
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Apr 8, 2024
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hsbc's ceo noel quinn is pushing to improve his bank's wealth management capabilities in china and india. we spoke to him exclusively as the bank hosts its first global investment summit here in hong kong. noel: in 2023, the performance of our wealth and personal banking business in hong kong, we saw significant customer acquisition. we also saw around about 50% growth in our insurance and wealth business, in terms of new business last year. the facts are wealth management is continuing to develop and grow in hong kong. the liquidity base in hong kong today is higher than pre-covered levels. --pre-covid levels. i still see for hong kong is a vibrant financial center. capital markets are subdued but that is a function of still coming out of covid. the economy is waiting to recover, but we have seen early signs of the debt capital market starting to pick up as well. the facts support that hong kong still is a vibrant financial market. david: you are set to report your first quarter earnings in a couple of weeks, so you can't give the details, but we just wrapped up the calendar quarter, ho
hsbc's ceo noel quinn is pushing to improve his bank's wealth management capabilities in china and india. we spoke to him exclusively as the bank hosts its first global investment summit here in hong kong. noel: in 2023, the performance of our wealth and personal banking business in hong kong, we saw significant customer acquisition. we also saw around about 50% growth in our insurance and wealth business, in terms of new business last year. the facts are wealth management is continuing to...