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A collection of 3 posts

US, UK lawmakers press HSBC CEO over HK expats being denied access to their retirement funds

Per Reuters HSBC allegedly blocked access for Hong Kong expats to their own retirement funds. This resulted in lawmakers in the US and Britain putting pressure on the bank, which was already the subject of criticism for its alleged actions. The pressure comes from the chair of US Congress, Mike

HSBC Asset Management warns of potential US recession in 2023 and Europe recession in 2024

Per CNBC HSBC Asset Management recently commented on the state of the US, saying that it would "enter a downturn" in Q4. Following this, it was also noted that a European recession was expected to happen in 2024. This came from HSBC Asset Management Joseph Little, who stated

HSBC rescues Silicon Valley Bank UK by acquiring it for £1

Per CNBC As the Silicon Valley Bank collapsed, so did its UK arm. HSBC has decided to come to the rescue and purchase SVB UK for just £1, equivalent to $1.21. However, this doesn't include assets and liabilities owned by the parent company of SVB UK. HSBC