hsbc at the top of the hour. ♪ like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours. 76% of 23andme health customers surveyed threported taking healthierrd from chactions.business. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. if you're trying to get a view of the whole organizational financial health and you're trying to do that through multiple systems, that makes it very, very cumbersome. ♪ it's not just tech, it's not just people. it's how they work together to provide that experience to the customer. as a finance organization that is wh

we have just seen the numbers from hsbc, doing extremely well thank you very much.nt on thursday or half a percent? the narrative has _ thursday or half a percent? iie: narrative has changed thursday or half a percent? tie: narrative has changed over the course of the past two weeks. we saw a notable decline in the headline inflation reading. but we are still so far away from the 2% target, currently 7.9%. so yes, perhaps we may only see a smaller 25 basis point hike rather than the previous expectations of seeing 50, but we are still so far away that i think whether we see it this time around or next time, i think we are going to have to keep increasing rates and we are probably going to reach 6%, we are currently at five. {lilia we are currently at five. 0k, joshua, thank _ we are currently at five. 0k, joshua, thank you _ we are currently at five. 0k, joshua, thank you very - we are currently at five. 0k, joshua, thank you very much. china's restrictions on the exports of gallium and germanium come into effect today. they are used in smartphones, laptops, as well

we spoke to the hsbc ceo.e a listen. >> those results are a function of good revenue growth across the globe. all of our global businesses have strong revenue growth. all the product lines, strong revenue growth. also all geographies contributed to that performance. so i am pleased with the outcome. it is a $21.7 billion gb to which is 22.55%. i need to point out two notable items which boosted that return. underlying excluding those it is still a return on tangible equity of 18.5%. that is a very strong performance. our confidence is high on the future which is why we have changed our guidance going forward. we have increased it from the 12 plus guidance we had before to a guidance of midteens for 2023 and 2024. i'm really pleased we were able to, because of our strong capital degeneration, commit to a further interim dividends for q2 and an additional up to $2 billion buyback which we intend to complete in the next three months. so that is a good outcome. but i do want to say it is broad-based across all geo

hsbc is a global bank, so we've had interest rate rises everywhere, and so, they have cashed in on thats, and their revenues have increased as a result. they're looking at good performances in wealth and in commercial banking, and in transaction banking, things like that. it is all looking like a pretty solid across—the—board performance. china's restrictions on the exports of gallium and germanium come into effect today. they are used in smartphones, laptops, as well as in medical and defence sectors. unsurprisingly both elements are on the eu and us lists of critical elements. last year china controlled approximately 98% of the world's gallium production — it was also the world's leading producer of germanium, accounting for about 68%. the move is seen as the response by china to europe and the us removing their reliance on china's chip—making. our asia business correspondent nick marsh has the details. now you may never have heard of gallium or germanium until just now, maybe, but they're important elements, so—called critical materials, and they're needed for chips in things like mo

. >>> hsbc first half net profit tops $18 billion more than doubling on the year before sending shareso the top of the stoxx 600 ceo noel quinn says they will gain from the performance. >> if all goes to plan this year, we should be above the pre-pandemic level we are paying a flat 10 cents. >>> investors in high spirits as diageo posts a beat in full sales and operating profit the ceo says double digit net sales in beguinness is a driver for the group. >> people love guinness right now. >>> and daimler helps offset pressure with the bullish guidance for the trucking sector we will hear from the ceo martin daum this hour >>> we certainly have been following the busiest weeks for earnings across europe bmw released their numbers for the full year outlook. updating the full year outlook the margin is at 12.6% for the first half of 2023 also saying that it is 11.3% when one just takes a look at the three months of the second quarter for 2023 so far. supply chains set to be a head d wind in the second half of the year the autos delivers of 10.6% in the first half against the 9.2% which is

meanwhile, banking giant hsbc has announced a 235% increase in pre—tax profit — some $21.7 billion —nk benefited from rising interest rates around the world. hsbc�*s results were slightly better than many analysts were expecting and its shares have already risen around 20% so far this year. 0ne banking analyst told us she's not suprised the bank cashed in on higher interest rates, with central banks around the world still fighting inflation. a rise in interest rates all around the world, actually, notjust in the uk. hsbc is a global bank, so we've had interest rate rises everywhere, and so, they have cashed in on that, really. net interest margin has gone up by a0 basis points, and their revenues have increased as a result. they're looking at good performances in wealth and in commercial banking, and in transaction banking, things like that. it is all looking like a pretty solid across—the—board performance. in other news.... the german logistics and delivery company dhl has reported a fall in its revenue and earnings blamed on falling consumer demand, soaring inflation and high inve

the hsbc ceo joined bloomberg earlier. sector. >> our ambition is to try and make sure rates are as reasonable as possible to help customers navigate what is a challenging environment of higher rates in the market plus higher inflation. we will move down as quickly as possible. that was our decision, it will, i can't predict what the yield curve necessarily will do. there is the prospect of more interest rate rises in the future in order to combat inflation and there to change the yield curve for the swap price and we may have switch in prices. >> ainslie lemon is the analyst for building at investec. in some ways it's nice to get to the report before the boe does its next thing. what are you looking for in terms of their outlook. >> i think tomorrow the outlook will be key, looking at what the cells rate has done particularly as interest rates have seen the deterioration in interest rates. they've got a target of 9000 completions for this year's overseeing whether they stick to that target. >> you're going through all the

we start with hsbc, which has just announced a 235% increase in pre—tax profit — some £17 billion — forresults were slightly better than many analysts were expecting, and its shares have already risen around 20% so far this year. joining me now is frances coppola, who's an independent banking analyst.

drop from 6.10% to 5.39% — potentially saving hundreds of pounds for homeowners. 0ther lenders like hsbc. so are we at the top of this rise in housing costs? russ mould, is an investment director at aj bell, he joins us now. firstly explain for people why rates are now around the bank of england rate. typically they track half to one percentage point above. but a five year fix is now around the same. what does that suggest? the banks will be looking notjust that where interest rates are now but where they will be over the entire term of the deal and i think there is a hope, at least, that�*s with a peak in bank of england interest rates, depending on where interest rates, depending on where interest finally settles. so it is notjust interest finally settles. so it is not just where interest interest finally settles. so it is notjust where interest rates are now but where they will be going forwards and if there is a chance of a peek at some stage in the next 12 months then after a peak you�*ll get some cuts. maybe the banks are looking towards that and also there is competition between t

frank lee at hsbc.rjun, thank you for breaking it down for more on what to expect from nvidia after the blockbuster results, check out cnbc.com. >> we saw major reaction in nvidia stock yesterday the stock up 10% that is having a knock-on effect on tech sectors. asia pacific and hang seng here in the stoxx 600 with a lot of the green on the map. it is up .60%. it is fascinating to consider the european markets which have been bouyant in the face of the key numbers. despite that, the indices have been doing well. stoxx 600 is up 1.1% for the week that tells you investors are focused on the trajectory of interest rates than growth going forward. something that central bankers will talk about at the jackson hole symposium you will watch for some key announcements and some of the comments that we'll get to in the next two days. jay powell will be speaking tomorrow at 10:00 a.m. here in europe, every board is trading in the green i did mention that all of these are trading up in the week dax is up 1% cac 40

hsbc have gone along with the chinese communist party line at every opportunity .y. and cowper—coles has spoken out against the british government and against the american government to say, we're too critical of china . you we're too critical of china. you see, if you bank with hsbc, your banking, with an organisation who put their own profit way above human rights, and that i'm sorry to say, is the absolute truth of it. in a moment, i'm going to be joined by an essex entrepreneur, everything from ice cream emporium to pleasure parks, and he'll tell you why he's finding it harder and harder and more and more expensive to process cash. i'm not letting this one go. i'm really not back with you now, a few months ago, we were in southend with farage at large, and one of the characters that i came across was james sinclair. he's the founder and ceo of the party man group of companies. now, we went to the ice parlour when were ice cream parlour when we were there . it's not been a very good there. it's not been a very good day for ice creams, really, has it? day for ice

hsbc have gone along with the chinese communist party line at every opportunity .y. and cowper—coles has spoken out against the british government and against the american government to say, we're too critical of china . you we're too critical of china. you see, if you bank with hsbc, your banking, with an organisation who put their own profit way above human rights, and that i'm sorry to say, is the absolute truth of it. in a moment, i'm going to be joined by an essex entrepreneur, everything from ice cream emporium to pleasure parks, and he'll tell you why he's finding it harder and harder and more and more expensive to process cash. i'm not letting this one go. i'm really not back with you now, a few months ago, we were in southend with farage at large, and one of the characters that i came across was james sinclair. he's the founder and ceo of the party man group of companies. now, we went to the ice parlour when were ice cream parlour when we were there . it's not been a very good there. it's not been a very good day for ice creams, really, has it? day for ice

i would like to open that account so i can move my money from hsbc to a new account. i was very helpful bank officer with setting up an account for me and then he said he had to run some, some checks on the system. and all of a sudden this is sort of alarm bells ringing on his computer and the red flag was popping up. um and he said, oh is not letting me do this is not letting me enroll you as a customer. and i said, well, why can you show it to me? so he turned his computer monitor around to let me see it. and where i could see a day is that by system showing red flags on certain newspaper headlines from chinese newspapers about our case. and i asked him, which database is the bank was using? and he, he mentioned, well check. and he mentioned lexisnexis to me humphrey soul. the data base has had web links to news reports of an investigation he conducted for the pharmacy to coal company. black. so smith, klein, alger 0 us to be sensitive if it wish to comment on the pizza humphrey case. but they decline coming up in port to the source is these data bases use a role in

some of the community center buried then bank, hsbc. so they will not be in the if you 7 my case and say it's on the level one, then she had a li, the bit office, the each of the is bank of for the, for the she said live motion one, a physical that i'm waiting most with the if you, savage, it is by the and some of the lessons learned them in as bbc and what else in bbc and what all of them and them upon. but if he hasn't moved off the thought, well, hold on a female life, imagine holiday and what else? if you that you can look at the health of the and the, as with most with on the fact that a half feet was the assessment, had them some sort of way to upload one check teacher. oh boy, 1st broke. the sco make for the bbc. i got the bbc to make a radio program, and i presented this we discovered the existence of a confidential data base. it was called world checked and by thomson reuters at the time. see how any have one catch a big cold travers which is a very serious thing is we will know very, very serious if you kind of deal with peopl

he said his personal comments don't reflect the views of hsbc.operating profit grew to more than $10 billion for the second quarter. a strength its insurance businesses helped encounter. the results were driven by a 74% increase in insurance earnings. all of that at auto insurer geico. elsewhere, here is what we are looking out for today. on tuesday, the ecb releases its consumer expectations, export survey and then on wednesday will get china pmi and ppi data. later in the day we will be watching the disney earnings. on thursday it is uscp i. the prior month's report showed a rise of 3% from a year ago. that is the smallest increase in more than two years. at the end of the week, we get u.k. gdp and u.s. ppi. all of that to come this week. coming up, the israeli prime minister tells bloomberg he is pulling back on his judicial revamp plans. we will have more of that exclusive interview for you next. this is bloomberg. ♪ >> welcome back. israel's prime minister says he will not pursue entire judicial overhaul of -- originally planned by his gover

other lenders like hsbc, nationwide and tsb have all cut some rates., our cost of living correspondent kevin peachey. hello. can we say it's good news? . , ., , ., ., ., news? certainly a situation that the uk housin: news? certainly a situation that the uk housing market _ news? certainly a situation that the uk housing market has _ news? certainly a situation that the uk housing market has really - news? certainly a situation that the uk housing market has really been | uk housing market has really been under pressure. the activity in the housing market has been falling and so what lenders are doing is trying to pick up some custom. as a result they are cutting some rates. some of they are cutting some rates. some of the biggest lenders, the biggest, halifax, cutting its rates by up to 0.71 percentage points. other lenders too, hsbc, nationwide, also making cuts. is it good news? maybe it's a case of less bad news for homeowners because they will be looking at their previous mortgage deal, and that would have been a lot cheaper in terms of repayments

in the 1st half of this year, according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less. here's the reminder of the top of business story, the following for you at this hour. the use digital services act is kicking in. the regulation is designed to protect online users. property and sales offers for example, and is meant to stop the spread of artful for later content executives. right, that's our show. thanks for watching interest colburn roland. have a great the . it's time ford visionaries for sustainability. but also for horsepower. the . it's time for the full bio revolution, the, as you become pretty carney told me about sugars paralyze between your societies. computers that are similar to governments that go crazy for your data. we explain how things, technologies work, that's how they can also watch it. now the, we test the waco p one high press discover and electric to a csl investigative public transfer role model and meet lebanon's patri

in the 1st half of this year, according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less. and here's the reminder of the top of business story. the following for you at this hour, the use digital services act is kicking in. the regulation is designed to protect online users, problems and sales offers for example, and is meant to stop the spread of article for later content. i take news, right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great the like fashion. tat is so much more than just style. folger of how this book based test i list nice. i mean you do us. it is a walk of it has settled. she gives natural, have a new how are you expression and questions, gender role? pre max. 19 minutes, a double you. imagine how many portions of a lot of us are now in the world right now? climate change. the story. this is much less the way from just one week. how much was going to really get we still have time to act, ongoing succ

according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less of. hey, here's the reminder of the top of business story we are following for you at this hour. the use digital services act is kicking in. the regulation is designed to protect online users. problems and sales offers for example, and is meant to stop the spread of artful for later content. executives. right, that's a shelf. thanks for watching. and chris cockburn roland, have a great the like fashion is so much more than just style. folger of how this book based test, i list me some in the duma, which is a walk of it has settled. she gives natural, has an empowering expression and questions gender roles have free mexico in 30 minutes on the w. vacating the door at 6 o'clock, my child was screaming. don't take mommy reset to my son, your mom. you're not coming back over the ukrainian city of coupon schools under russian occupation for 6 months. everyone can endure the fear we felt every d

pranjul bhandari from hsbc. been open for six minutes or so, muted gains for the benchmarks. we are tracking paytm, which rose as much as 11% as the founder plans to raise at stake. that stock is reflected in one97 comms, currently up 8.7%. keep it here with us. this is bloomberg. ♪ rishaad: this is a look at korean stocks. these are superconductor related stocks and what we are witnessing is another come back. this week we saw them soaring by the same margins, and that fizzled out, so that has remained because of a claim of a breakthrough in this technology. this is to help computers with internal temperatures as they process, something that would have changed the game. and you could actually set ambient temperatures according to the scientists, but at the moment, companies have been looked at closely because people are now seeing perhaps this breakthrough in that technology as promised. let's look at what is going on with china pharma related equities, on their way down. it is down to this campaign on anticorr

according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less. here's a reminder of the top of business story, the following for you at this hour. the use digital services act is kicking in the regulation is designed to protect online users, property and sales offers for example, and is meant to stop the spread of artful for later content. executives. right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great the to the point. strong, clear positions, international perspective. ukraine encounter offensive have so far to, to blood expose, feel that the war is likely to have those in a frozen conflict. so on to the point we ought to be shown, ukraine can see janitory, russia, d, w from slave trading to smuggling. they cross people from west africa to europe. human traffic is emory, tanya, they make fat profits because they helping the suffering country people. oh, are they just modern day slave traders? the 45 minutes we are a

according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less a. here's the reminder of the top of business story, the following for you at this hour. the use digital services act is kicking in the regulation is designed to protect online users, property and sales offers for example, and is meant to stop the spread of artful for later content. executives. right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great the then like us to express volcano, but what do scientists remember about that? this huge interruption of home got tongue got in 2020 to chicago. understanding of protein are now, research is picking up from used to the our specialties spliced with a luxury leisure flavored with a touch of art, culinary excellence, all the ashes, europe, to save your romance. 60 minutes. what secrets? why behind being discovered new adventures and 360 degrees and explore fascinating world heritage sites dw world heritage 360 yeah.

in the 1st half of this year, according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less of. hey, here's the reminder of the top of business story we are following for you at this hour. the use digital services act is kicking in. the regulation is designed to protect online users. problems and sales offers for example, and is meant to stop the spread of artful for later content i take use. right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great, the invasive was the highest and of choking india's voices. so it goes to, if you will, sleep it's lifestyle, random turning pests in the process. why not do some research you, i'm make something a traditional waivers on mount pos, if the solution from each a logical mentors to textile resolution, pico dw, the imagined that you're eating a hamburger. and as you're biting into this juicy burner, your dining companion says to you, actually that hamburger is not made from cows. it'

according to hsbc, researchers hope to eventually develop a discrete device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less of. hey, here's the reminder of the top of business story we are following for you at this hour. the use digital services act is kicking in. the regulation is designed to protect online users. problems and sales offers for example, and is meant to stop the spread of heartfelt for legal content executives. right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great the . the new will tell you. we are happy that we are boxing the story. we have a getting a visa is more difficult than finding gold hosted to use force and for the future in the stories and issues that are being discussed across the country. news africa on dw, it's time for visionaries. for sustainability. but also for horsepower. the, it's time for the mobile revolution, red dw, he's got issues with a lot say what the, this is data. the news applicant coming up on the program can bring help build effort

according to hsbc, researchers hope to eventually develop a disagree device which sits completely inside the school and connects wirelessly with software and computers, giving a voice to the voice less. so, here's the reminder of the top of business story, the following for you at this hour. the use digital services act is kicking in the regulation is designed to protect online users properly and sales offers for example, and is meant to stop the spread of thoughtful for legal content i take use. right? that's a shelf. thanks for watching. and chris cockburn, roland, have a great the books view. tell here we are happy that we are boxing the story. we have a getting a visa is more difficult than finding gold hosted to use the dream force and for the future in the stories and issues that are being discussed across the country. are you news? african on d, w invasive was the highest and of choking india's voices. so it goes to a fuel sleep. it's lifestyle, random, turning pests in the process. why not do some research you, i'm make something a traditional waivers on how toss of the solution

the head of public affairs at europe's biggest bank hsbc has apologised after accusing the british governmentor complying with us demands to cut back business dealings with china. the uk—based bank makes much of its profit in china and has been trying to expand there in recent years. the bank has subsquently said that sir sherard cowper—coles made the comments "at a private roundtable discussion and shared his personal views", and that they do not reflect those of the bank. the company behind the barbie movie says it's taken more than $1bn in ticket sales in its first 17 days. it means greta gerwig has become the first woman to reach the milestone as a solo director. european markets have been tracking asia a bit lower today. there are some concerns over the strength of the us economy and that has done a lot of the markets. that's all from me. this meeting in july this meeting injuly was supposed to be an opportunity for birmingham city council to tell plans for regeneration of their area. but it descended into farce as hundreds were locked outside. the residents feel left in the dark about t

. >>> hsbc says u.s.onalism is increasingly making a comeback and it's time to buy the dip. >>> we'll talk about the upgrade of t and verizon and why the dividend yields have the market turning bullish. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com ♪ ♪ wake up, gotta go! c'mon, c'mon.r that a-gracie, c'mon.first. let's go! guys, c'mon! mom, c'mon! mia! [ engine revving ] ♪ ♪ my favorite color is... because, it's like a family thing! [ engine revving ] ♪ ♪ made it! mom! leave running behind, behind. the new turbocharged volkswagen atlas. does life beautifully. >>> take a look at the market. dow close to session highs, up 144. two-year yield, 4.89 as we were above 5.00 yesterday as job openings came in this morning with a big miss. lowest since early 2021. bob pisani

tom: when you grew up in england, was hsbc a british bank or were there asian guys in britain?athan: i think we considered that a british bank. of course. tom: to me, i always feel foreign debating about it. in hong kong and shanghai and the rest. i do not know where they fit in right now. lisa: i think it is interesting because it is an increasing debate. does the rest of the world go with the u.s.? how clean are these fisheries between china and the u.s. and who has to align with who? you see that with emmanuel macron. jonathan: perfect world. can they sit on the fence anymore? tom: politically, maybe they can, maybe they not. it is incredibly dynamic right now. mexico is becoming far more dominant because china is becoming less so. on foreign-exchange, macro strategist on foreign-exchange at ubs joins us. what we see is a strong dollar. i do not see on a blended index a stable dollar. is it a stronger dollar forward, or a stable dollar forward? >> we think it is a weaker dollar forward. from here. i think the fx market is in a tough spot at the moment in the since it is diff

hsbc's global economist, janet henry. let's see where markets have settled out.ling negative session being delivered. see, dax, and cac all lower today. some of the peripheral markets down even more today. certainly a negative spillover effect coming out of the united states. what are we going to talk about next? let's take you back to what is happening in the oil markets. it is the latest sign of a tightening global oil market. what does it mean for producers? scott sheffield, ceo, rich dla, pioneer president and coo, both joining us next. this is bloomberg. ♪ ♪ e. - i felt supported throughout the whole process, even from the first call. [graduate] my advisors consistently reached out and guided me along the way. - it was like i was talking to a friend, like someone that i had known for years. - the instructors were very helpful with everything that i was going through. [announcer] we'll be with you from day one to graduation to your dream job. ♪ it all starts the moment you find your program. [announcer] go to snhu.edu to get started. i was just frustrated...

another 160 citizens have stepped with hsbc to provide. their houses to be shared. so just under 2000 how units are now available so we can get people shelter. he said the contract today with the red cross. we're grateful to them for their expertise. they'll be in partnership with us being on the county to make sure everyone that house. if you have not been one of the shelters, you go to redcross sign up there. the services, shelter, these rooms to be free. 2 people and resources will be covered through our disaster their fema. the state, grants, whitney foundation grants. that's critically important. we've already placed 220 families in housing. so you can see that the shelters are starting starting empty out. we're trying to be careful because there's a lot of needs are also being that those shelters, mental health care needs people getting loans, taking care of. they are all these houses and apartments, hotel rooms. we'll be providing wraparound services so that you want people to know about. already anticipate at least 36 weeks. well, direct housing for individu

how also emailed hsbc? the bank that close the accounts of the p o. c and defends re pop most to ask about the closure of those accounts. but he never received a reply. one of the come to complaints against these lists is that they are the reason why people can't get access to the banking system that has some merit. but it's not entirely true because it is not the role roofing. this is all that jones to decide in a binary. yes, no, not in the way that people should have access to banking the road is to provide information to the best of the city to find to then apply what we were told that i'm risk appetite to as i said, the nation tom, i contacted representative and spoke to the head of communications, but he declined the request for an interview however, and elected to well just 0, dated the 13th of june, 2019, the legal representative said of the finsbury comp most, we are not to way of any evidence that its bank account was closed as a consequence of the most inclusion on the database. and the quotes did not approve any such suggestion. tell me or

herald van der linde is still with us, head of asia strategy at hsbc.s it too late to buy the dip on ai? is there a thing as too late to get into ai? herald: there have been a lot of things, a lot of optimism has been priced in. earlier in the year, we actually liked ai and we operated korea to be opening up extremely because of ai and we told there would be better demand for memory chips and these sorts of things. the world would be a better place, and suddenly ai came through and rallied. suddenly we see these big themes. we initially want to wait and our expectations are too high, and then we get the reality reset, and that is often when you want to buy in because they would buy into the grosse pointe. so ai will be interesting for years, if not decades, to come. rishaad: doesn't it remind you of dot-com? the point that people didn't really understand it, and people have learned the lessons from it. one of the headwinds would be that people are immediately trying to think of regulation, which they did not do that in the day with internet stocks, and

this is the hsbc back in, what, 1865, which i am going to bring.e to excuse me now. oh, roll, roll, roll. roll, roll, roll. claudia: i was born and brought up in hong kong and i'm a hong kong person. i'm a hong konger through and through. i never ever imagined hong kong would have come to this. bill: beijing's security services are firmly in control here now, watching, listening. many hong kongers don't dare say what they really think. one outsider still prepared to share his observations is australian lawyer and author, antony dapiran. antony dapiran: i'm a commentator and an analyst and a writer, but i don't think that anything that i do breaches the national security law. bill: he's lived here for 16 years and, before that, in beijing, chronicling the uprising and the politics of his adopted home. antony: there's a very strong sense, really, across an entire generation of hong kongers, that this is--this is their fight, it's a fight that they strongly believe in. and i'm not sure that just jailing the key leaders or even the threat of jail for p

hsbc says it is these 75 basis points of cuts from the fed next year as inflation declines.et's discuss with fred newman the bank's chief asian economist and global head of research asia. great to have you with us. i know we got the usual hawkish remarks coming from the fed but also perhaps reading between the lines the acknowledgment of disinflation in the super court. would you take that as examples of a dovish tilt, what was your key takeaway? fred: in the near term they really signaled there is no urgency for moving rates lower and a wait and see mode. the underlying message here is don't get too excited about near term rate cuts. we are really awaiting a further disinflation of the economy, we are going to wait a few quarters until we actually start to look at easing policy. i think there was a quick reminder to markets that the feds job is not done yet. there 2% inflation target, there was nothing at jackson hole that would suggest they would relax that target. there is still a way to go to get inflation back in line before we can contemplate rate cuts so middle of nex

hsbc margin being made there.ion profits announced. £17 billion profits for the first six months of this yeah >> so that's in asia. >> so that's in asia. >> so that's in asia. >> so hold on. i didn't say a single word when you spoke, by the we're seeing the way. so we're seeing massive, being massive, massive profits being made here, a windfall made by banks here, a windfall tax is not to collect money and that's a really important thing here. so this is not like with the north sea oil and gas. this is about making money for is not about making money for government. italian government. what the italian government. what the italian governit'sit government. what the italian governit's not really worked agree, it's not really worked out well, i the out very well, but i think the motive and the intention is very noble. to noble. they're trying to disincentivize by disincentivize profiteering by banks to cream off banks here, trying to cream off a games. a lot of games. >> but windfall tax is exactly >> but a windfall

hsbc is down, but it's the big miners. they're down as well. names like antofagasta are under pressure, glencore under pressure. that's what's weighing on the ftse 100. take a look at what's happening with marks and spencer. the retail kind of high street darling doing really well today. that tells you more about the domestic story. but that's a 250. the dax is down. i think only 5 or 6 stocks are in positive territory. the mood definitely more negative today. the kekerengu down by 1.2%. again, you've got stocks like lvmh under a little bit of pressure. so again, it's the effect that china is having on european equities remains really quite significant. we'll talk more about maybe the domestic narrative in the close. that's coming up next. this is bloomberg. woo hoo hoo. i'll be the judge of that. oh, that's nice. oh, searchable verified reviews. that's better than the ham. and i've never said that. booking.com. booking.com. yeah. if you had w-2 employees in 2020 or 2021, you could be eligible for cash payments up to $26,000 per employee throug

the british recreate in chamber of commerce, continues to receive complaints the menu, k bangs like hsbc, close the accounts of small and medium size u. k. base businesses. the trade with ukraine conduct and even the one you create in transaction can lead to an account being closed. to discuss this further, we now cross live to our, to contributor rachel mars, and hi rachel. so why are some british companies closing the accounts of a british companies trading with ukraine? what's the concern or so this letter to the british secretary, the treasury is from the co chair of the british ukrainian chamber of commerce. so they represent various companies that do business with ukraine, and he's saying that some of those british companies are getting flagged by the banking system that does the know your customer, k y, see type of due diligence on banking customers and transactions. and they're either having their british bank accounts closed or they're being blocked from opening new ones all because they were caught transacting with are you creating company and they just don't understand why ant

hsbc has frozen the bank to you.s frozen the bank accounts of a number of pro—democracy activists and political parties in hong kong. i know you've had a similar challenge and also some of the major pension fund providers have denied side hong kongers who are leaving hong kong access to their hard earned pension savings on the instruction of the hong kong authorities. yeah >> so what what would what would you want the british home secretary to do? benedict well, i would have wanted him to take a much more. >> i don't object necessarily to him going because i do agree that you can't just ignore one of the world's major superpowers . so the question is not do we engage?ifs . so the question is not do we engage? it's how to engage in what way and at what time. i question the timing of the visit coming just a month or so after eight exiled hong kong activists, three of whom live in this country , we were issued this country, we were issued with an arrest warrants and bounfies with an arrest warrants and bounties by the ho

hsbc has frozen the bank to you.s frozen the bank accounts of a number of pro—democracy activists and political parties in hong kong. i know you've had a similar challenge and also some of the major pension fund providers have denied side hong kongers who are leaving hong kong access to their hard earned pension savings on the instruction of the hong kong authorities. yeah >> so what what would what would you want the british home secretary to do? benedict well, i would have wanted him to take a much more. >> i don't object necessarily to him going because i do agree that you can't just ignore one of the world's major superpowers . so the question is not do we engage?ifs . so the question is not do we engage? it's how to engage in what way and at what time. i question the timing of the visit coming just a month or so after eight exiled hong kong activists, three of whom live in this country , we were issued this country, we were issued with an arrest warrants and bounfies with an arrest warrants and bounties by the ho

you got the current ding from hsbc. what do the global macro movers at the moment telus overall? -- tell us overall? david: there is a full-sized shape on the wall. that seems to be where some of the money is headed, particularly when you look at hong kong. most parts of the region, taiwan is down 1%. there is a stronger dollar here today. to help us understand whether or not what seemed to be a strong fix and it was not as strong as earlier expected, does not open up more room for the dollar? mark cranfield is here. what you make of the vix? mark: it is about 7.15, it gives more headroom, probably because of dollar-yen. the dollar yen has been drifting higher. it has not been coming down. the pboc is finally saying, let's allow the yuan, move closer to the yen. it is below 720. the sequence over the past couple of months is we've had the fix is below 720. eventually pushing it below, we are now back to 7.15. that will probably stay there for a while. people are second-guessing, do they mean there is a higher threshold, 7.30, or higher? probably not. the pboc moves fairly slowly

hsbc is also expected products.umber yet provided details. the number of crimes that go unsolved would be decreased under a labour plan if it wins the next election, according to the party. it set up a so—called charging commission, a task force responsible for coming up with reforms to increase the number of crimes solved. that's after the conservatives accused labour of being soft on crime. labour says more than 90% of crimes are going unsolved under the tories, with a record 2.4 million cases dropped due to evidential difficulties in the last year alone , the number of civil alone, the number of civil servants has risen to the highest level in half a century. but there's been a fall in the number of front line delivery jobs. figures from the taxpayers alliance found staff numbers are up 24, with growth mainly in london. that's despite several governments pledging to move the civil service away from the caphal civil service away from the capital. while 87% of the increase is due to growth in the top three grades o

hsbc said they are waiting for jackson hole and a potential sotloff to buy the dip -- sell off to buy the dip. annabelle: we are focus on china's economy. it really is this issue around china's ballooning debt loads. taking a look at the total debt as a percentage of gdp. last year at 360%. this is painting a big picture. we are seeing symptoms of excessive debt coming through because you sought to fall the property sector. country garden one of the ones we focused on. also there is stress in local government financing vehicles. these are symptoms of excessive debt. it is becoming more difficult to manage. country garden, investors are still very nervous. country garden bondholders are demanding full repayment on an outstanding note that is due next month. country garden is asking for a three year extension to avoid default. another stock we will be focusing on in the session. paul: still to come, a big week for all see earnings -- aussie earnings. we will be speaking to the bhp ceo. fabulous surroundings... but everyone's looking at the for financial insights from merrill. is he hail

butjust this week, hsbc bank's head of public affairs accused the british government of being, quote,ack business dealings with china." now, he has since apologised for that. but are the us and the uk, congressman lahood, aligned on china? well, i think they are. part of our conversations this week with our uk counterparts is to make sure they are firm on that, because i think we have to take a strong stance and obviously the partnership with the uk extends for a long period of time. we work well together both from a national security standpoint, from an intelligence standpoint, from an economic standpoint, our countries have never been stronger than they are today. but you know, this is a challenge when it comes to china. i think what the ccp fears the most is bipartisan support in the congress against them, but also working with our like—minded allies. and that starts with the uk. we don't have a stronger ally than the uk. and so again, we were reaffirming that, what our select committee is doing in washington dc with our uk counterparts this week. have you found that as well in you

k. banks like hsbc, close the accounts of small and medium size u. k based businesses, the trade with ukraine conducting even one of your grant in transaction can lead to an account being closed. so this letter to the bruce secretary, the treasury is from the co chair of the british ukrainian chamber of commerce. so they represent british companies that do business with ukraine. and he's saying that some of those british companies are getting flagged by the banking system that does the know your customer, k y, see type of due diligence on banking customers and transactions. and they're either having their british bank accounts closed or they're being blocked from opening new ones all because they were caught transacting with are you creating company? and they just don't understand why anti corruption or anti money laundering due diligence would flag dealings with the country considered to be one of the most corrupt in the world that's according to transparency international. the letter says that quote, decades ago, decades ago, ukraine was designated

look, the likes hsbc, of it., of tsb and nationwide, they've they have histories as mutuals , as have histories as mutuals, as building societies. they tend to be a little bit softer focus , a be a little bit softer focus, a little bit kinder around the edges than the high street banks that give mortgages . right. so that give mortgages. right. so it's not surprising that they're the first to cut. they also know that, you know, people like me are going go, hey, they've are going to go, hey, they've just they're loads. just cut. they're getting loads. you we're here, you know, we're sitting here, i'm doing my job. as a reporter, you're questioning me. we you're questioning me. and we keep things about keep saying nice things about tsb and nationwide. right. but the thing is, these guys, they're not really taking a bet. what they're doing is they're looking at financial markets. they're looking at obscure parts of financial markets that people in the city of london look at all the time. but journalists and ordinary