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Feb 20, 2018
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stuart gulliver, oxbridge, trader, global. polytechnic, sportsman, on the ground, retail builder. i expect to see john flint on the ground, retail builder. i expect to seejohn flint on the ground and working the machinery and bringing it back to what its original focus bringing it back to what its originalfocus is which is bringing it back to what its original focus is which is asset heavy mortgages, retail, wealth management, those types of businesses. let's create a job description forjohn flint. john flint has to demonstrate a digital strategy for the bank, it is the one global bank which doesn't seem to that articulated one very strongly. he needs to up the fees side of the business and not be so asset dependent on the cost part, it is still nagging. he needs to work on that to bring global costs down.‘ to 2018 seems to be rising inflation. will hsbc biela to use it to their advantage? hsbc is the most organic commercial global bank. the others have been making money from trading accounts, investment banking, global strate
stuart gulliver, oxbridge, trader, global. polytechnic, sportsman, on the ground, retail builder. i expect to see john flint on the ground, retail builder. i expect to seejohn flint on the ground and working the machinery and bringing it back to what its original focus bringing it back to what its originalfocus is which is bringing it back to what its original focus is which is asset heavy mortgages, retail, wealth management, those types of businesses. let's create a job description forjohn...
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Feb 20, 2018
02/18
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stuart gulliver's seven-year c coming to an end.d with a rare failure to live up to expectations. he will be replaced tomorrow morning. to the group finance director about the numbers. >> we have always taken a somewhat conservative stance when dealing with troublesome credit. we believe largely in the fourth quarter of the year. expect to go into 2018 with a fairly clean slate. analysts expected another buyback today. 12%-13%.et is why did you decide that today is not the date to do another buyback. >> you're absolutely right. well above the top and that we have targeted -- end that we have targeted. we are targeting some alternative tier one in the first half -- tier one issuance in the first half of the year. the first have tens to attract more interest in the instrument as well as better pricing overall. there is a regulation with respect to some of our listing authorities that you cannot do buybacks and -- capital instruments at the same time. our perspective about how we manage our capital has not changed. buybacks are still v
stuart gulliver's seven-year c coming to an end.d with a rare failure to live up to expectations. he will be replaced tomorrow morning. to the group finance director about the numbers. >> we have always taken a somewhat conservative stance when dealing with troublesome credit. we believe largely in the fourth quarter of the year. expect to go into 2018 with a fairly clean slate. analysts expected another buyback today. 12%-13%.et is why did you decide that today is not the date to do...
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Feb 20, 2018
02/18
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stuart gulliver, this is likely his last day on the job. john flint will take over. as of tomorrow. gulliver has spent the better part of his seven-year term really shrinking the footprint about 100xiting businesses, exiting 18 countries , cutting 25,000 jobs. a number of different allegations that the bank, through its massive tentacles of business, were involved in allegedly money and helping clients evade taxes. probably thera is best way to put it. that could likely come to an end as the bank is shrinking its footprint and getting a little bit more nimble as they report their fourth-quarter and full-year results at midday here in hong kong today. so what are we going to be looking out for? the cost structure is one thing. the cost performance -- this is a company that has been shrinking cost, but we are likely to see in the fourth quarter a bit of an uptick in cost. what a lot of analysts tell me they are looking at is what the and called the jaws -- growth whether revenue sufficiently surpasses that of cost growth at the upper end of 1% to 2%. we are respecting f
stuart gulliver, this is likely his last day on the job. john flint will take over. as of tomorrow. gulliver has spent the better part of his seven-year term really shrinking the footprint about 100xiting businesses, exiting 18 countries , cutting 25,000 jobs. a number of different allegations that the bank, through its massive tentacles of business, were involved in allegedly money and helping clients evade taxes. probably thera is best way to put it. that could likely come to an end as the...
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Feb 20, 2018
02/18
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overall, not exactly the swansong stuart gulliver was hoping for.estors getting used to beats from hsbc. what will they be looking for from the new ceo? >> he starts tomorrow. he will be presenting a new strategic plan for the company. which has been through quite a shrinking over the last couple of years, turning more focused on key markets in particular. that pivot is certainly paying off as far as 2017 profit is concerned, three quarters coming from asia. nejra: we've got other earnings this week as well. what will you be focusing on? >> we have lawyers presenting earnings -- lloyds presenting earnings and its strategic plan. finally free from state ownership. they will determine their course over the next couple of years. questions will be asked over how brexit affects their business. later in the week, we have barclays, the focus will be on the trading there as well. nejra: it all culminates with rbs on friday. vonnie: great stuff. time for our latest bloomberg business flash. latest test of the u.s. retail and health care industries. albertson
overall, not exactly the swansong stuart gulliver was hoping for.estors getting used to beats from hsbc. what will they be looking for from the new ceo? >> he starts tomorrow. he will be presenting a new strategic plan for the company. which has been through quite a shrinking over the last couple of years, turning more focused on key markets in particular. that pivot is certainly paying off as far as 2017 profit is concerned, three quarters coming from asia. nejra: we've got other...
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Feb 20, 2018
02/18
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this set of results, as stewart gulliver goes out the -- stuart ,ulliver goes out the door perhaps putting that ignominious chapter behind. at least, hsbc hope so. you forwe'll hold on to a second as we wait for the additional lines from hsbc. what are we going to hear in terms of potential buyback? mixed opinions on that front. exposures to things like steinhoff scandal is the other possible pocket of weakness, isn't it? stephen: right. well, on the buyback, a number of analysts do expect upwards of $4 billion in possible buybacks in addition to the 5.5 billion they have already announced since august of 2016. bloomberg intelligence do not expect a share buyback in the near-term. as far as the provisions, that is something we have to wait for in the conference call. i believe the conference call is in 3.5 hours time local, but the steinhoff, the south african retailer that is stricken recently, hsbc, one of several banks, including u.s. banks and european banks with expected credit losses, will like to see the provisioning might have to be as well as carillion, the failed british number t
this set of results, as stewart gulliver goes out the -- stuart ,ulliver goes out the door perhaps putting that ignominious chapter behind. at least, hsbc hope so. you forwe'll hold on to a second as we wait for the additional lines from hsbc. what are we going to hear in terms of potential buyback? mixed opinions on that front. exposures to things like steinhoff scandal is the other possible pocket of weakness, isn't it? stephen: right. well, on the buyback, a number of analysts do expect...
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Feb 20, 2018
02/18
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i was intrigued by the stuart gulliver —— comment about being stronger.resting. we shall watch this space. thank you for coming in and giving us your analysis so early in the morning. let's turn our attention to india. many countries regard the sheer size of the population — about 1.3 billion people — as a reason to boost trade ties. and canada isn't much different. prime ministerjustin trudeau is there this week and in a few hours' time, is set to meet business leaders in mumbai. suranjana tewari is there for us. just tell us a bit more about this trip and how important it is to justin trudeau. we are not expecting any major announcements from his visit to mumbai today, but he is already met a lot of prominent indian business ceos like mahindra. he will be making a speech to a former business leader at later today and there are 150 canadian companies in mumbai today as well. they are hoping to expand their business dealings with india, possibly set up business and farm —— form joint partnerships with indian businesses. india is a big market for canada. t
i was intrigued by the stuart gulliver —— comment about being stronger.resting. we shall watch this space. thank you for coming in and giving us your analysis so early in the morning. let's turn our attention to india. many countries regard the sheer size of the population — about 1.3 billion people — as a reason to boost trade ties. and canada isn't much different. prime ministerjustin trudeau is there this week and in a few hours' time, is set to meet business leaders in mumbai....
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Feb 20, 2018
02/18
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stuart gulliver's seven years as hsbc ceo ended on a down note.ges related to two clients. it was the last set of results before the hsbc veteran john flynn takes over. that is your bloomberg business flash. tom: thank you so much. there's any number of ways to stagger to kevin cirilli on a tuesday morning after a three-day and on political weekend in washington. he is an exceptionally smart morning must-read. whatever your thoughts on history, the always controversial tennis star was neil patel. this is on robert port. a forgotten part of the watergate story which came in the way of nixon's so-called saturday night mexico and in this -- massacre and this is bork. the special prosecutor to be terminated only for extraordinary improprieties, and even then, president nixon could only do it with a consensus. let's call it washington consensus of the house and senate majority and minority leaders and the chairman and ranking members of the chamber's's judiciary committees. nuancedan exceptionally essay for republicans and democrats. how do we get back
stuart gulliver's seven years as hsbc ceo ended on a down note.ges related to two clients. it was the last set of results before the hsbc veteran john flynn takes over. that is your bloomberg business flash. tom: thank you so much. there's any number of ways to stagger to kevin cirilli on a tuesday morning after a three-day and on political weekend in washington. he is an exceptionally smart morning must-read. whatever your thoughts on history, the always controversial tennis star was neil...
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Feb 20, 2018
02/18
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this is stuart gulliver's swansong and exit.does he take in relation to what happens north of the border here in china? haidi: on the lookout for hsbc earnings today. we have been breaking the bank's learnings live here on bloomberg. tuned. the filipina central bank -- the governor says the central bank will rely on data to determine the annual prices over the next two years. he also says the policymakers will is -- analyze volatility. authorities in sweden are increasingly concerned that the cash economy is moving too fast. the rise of digital and mobile is increasing. jpmorgan has expended his it rains as the best paid ceo on wall street. the total package last year was -- $29.5ion dollars million. morgan stanley ceo came in second. created by london-based newest building is covered by a new material called phantom black. he says the building symbolizes purity, the universe, and a sense of positive opportunity. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bl
this is stuart gulliver's swansong and exit.does he take in relation to what happens north of the border here in china? haidi: on the lookout for hsbc earnings today. we have been breaking the bank's learnings live here on bloomberg. tuned. the filipina central bank -- the governor says the central bank will rely on data to determine the annual prices over the next two years. he also says the policymakers will is -- analyze volatility. authorities in sweden are increasingly concerned that the...
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Feb 20, 2018
02/18
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BLOOMBERG
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shares drop sharply in hong kong as they are heading to the worst performance since stuart gulliver'sbank. bhp's half-yearit
shares drop sharply in hong kong as they are heading to the worst performance since stuart gulliver'sbank. bhp's half-yearit
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Feb 21, 2018
02/18
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we are going to see that handover as stuart gulliver ends his tenure at the lender.onsumer discretion segment. casino operators. check in on mgm china and other players here. mgm china posted a beat in fourth-quarter revenue. we are seeing the stock under pressure. sands china, the one bright spot. futures.ok at chinese just to get a hint of what might be ahead, we are seeing a slight pessimistic view when china comes back online from the lunar new year. haidi: thank you so much for that. let's get you the first word news with paul allen. paul: sergio marchionne has delivered his best returns among his automaker peers and has been comes in is aided -- has been compensated handsomely. he earns $12 million in base pay and bonuses last year, and collected stock valued at $36 million last march. marchionne drove fiat's ipo. $179.s. treasury has sold billion worth of securities to rebuild its cash balance, with yields rising to levels unseen since 2008. the offerings drew decent demand given the market is facing a deluge of sales. the treasury will sell five-year and seve
we are going to see that handover as stuart gulliver ends his tenure at the lender.onsumer discretion segment. casino operators. check in on mgm china and other players here. mgm china posted a beat in fourth-quarter revenue. we are seeing the stock under pressure. sands china, the one bright spot. futures.ok at chinese just to get a hint of what might be ahead, we are seeing a slight pessimistic view when china comes back online from the lunar new year. haidi: thank you so much for that. let's...