HSBC is the largest bank in Europe by total assets. Nicolas Economou | Nurphoto | Getty Images HSBC on Wednesday announced it will offer custody services for tokenized securities, making the British bank the latest major institution to embrace digital assets. HSBC is using technology from Swiss crypto custody firm Metaco, which was recently acquired … Read more
Indians currently work an average of 47.7 hours a week, according to the International Labour Organization. Gcshutter | E+ | Getty Images Infosys founder Narayana Murthy recently sparked a controversy on social media when he said young people should be working 70 hours a week to boost India’s economy. While many took to social media … Read more
Up from No. 13 in 2022, Minneapolis, Minnesota ranked as the No. 2 most neighborly city in America. S. Greg Panosian | E+ | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter … Read more
Aaron P | Bauer-Griffin | GC Images | Getty Images HSBC’s profit after tax came in at $6.26 billion in the three months ended September, jumping 235% compared to the $2.66 billion in the same period last year. Profit before tax for the quarter rose by $4.5 billion to $7.7 billion, mainly due to a higher … Read more
China’s real estate industry is collapsing in slow motion. Major developers like Evergrande and Country Garden remain stuck in spiraling debt problems. So-called ‘ghost cities’ dot the Chinese countryside. And now the International Monetary Fund just cut its global growth forecasts for 2024 and called out China’s real estate crisis as a big reason why. “It’s important to recognize … Read more
Pedestrians walk past a billboard announcing the World Bank Group and International Monetary Fund annual meetings, on the side of the International Monetary Fund headquarters in Washington DC on October 5, 2023. Mandel Ngan | Afp | Getty Images Top economists and central bankers appear to be in agreement on one thing: interest rates will … Read more
The U.K.’s embattled Metro Bank has launched talks to sell a third of its mortgage book in an urgent attempt to shore up its balance sheet. Matthew Horwood | Getty Images News | Getty Images LONDON — The U.K.’s Metro Bank will likely struggle to raise fresh capital to shore up its balance sheet, according … Read more
Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. Michael Nagle | Bloomberg | Getty Images Coinbase CEO Brian Armstrong is unhappy with JPMorgan Chase’s decision to block crypto-related transactions at its U.K. digital banking subsidiary, Chase UK. Chase UK earlier … Read more
The co-founders of Silent Eight, from left to right: Michael Wilkowski, Julia Markiewicz and Martin Markiewicz. Silent Eight WARSAW — When it comes to financial crime, banks can often be “one decision away from a huge mess,” Martin Markiewicz, CEO of Silent Eight told CNBC. That’s because the risk of fines and reputational damage is high … Read more
An HSBC Holdings financial institution department in Hong Kong on Might 24, 2022. A Hong Kong-based commerce platform launched by HSBC Holdings three years in the past with a lot fanfare has shut down after failing to construct a commercially viable enterprise. Bertha Wang | Bloomberg | Getty Photos HSBC on Monday reported a second quarter … Read more