Remove Economics Remove Profit and Loss Remove Restructuring
article thumbnail

HSBC To Eliminate As Many As 300 UK Commercial Banking Jobs

PYMNTS

HSBC will be restructuring its commercial banking business in Britain which will result in 300 job cuts, according to Reuters. The cuts come as part of Europe's largest bank's larger restructuring effort from earlier this year, with HSBC looking to cut costs worldwide as the ability to boost revenues becomes more difficult.

article thumbnail

The Future of Finance and Sustainability with Elizabeth Burns

CFO Talks

Notably, she reversed a decade-long loss at Coca-Cola, doubled profits, and restructured major funding. How do you balance achieving strong financial results while also supporting economic development and promoting sustainable growth through corporate social responsibility? Elizabeth Burns: That’s a great question, Leana.

Finance 85
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Wells Fargo Sees Some Credit And Debit Card Gains Amid Generally Bad Q3

PYMNTS

As we look forward, the trajectory of the economic recovery remains unclear as the negative impact of COVID continues and further fiscal stimulus is uncertain,” CEO Charles Scharf told investors on the company’s earnings call. But the silver lining to that figure is that the loan-loss provision is down from $9.5 billion in Q2.

article thumbnail

European Lenders Announce 60K Job Cuts

PYMNTS

European banks have been forced to slash more than 60,000 jobs as they face falling profitability, The Financial Times reported on Saturday (Dec. France, Spain and Switzerland have suffered due to Brexit, slowing economic growth, increasing regulations and the European Central Bank’s negative interest rates.

article thumbnail

Closed Theme Parks Sink Disney Earnings; Q3 Could Be Worse

PYMNTS

The company reported the second-quarter profit of its fiscal year at $460 million, or 26 cents a share, on sales of $18.01 After adjusting for restructuring charges and other effects, Disney reported earnings of 60 cents a share, down from $1.61 billion, up from $14.9 billion in 2019. a share a year ago.

article thumbnail

The Good News and Bad News About the World’s Most Troubled Systemic Lender, Credit Suisse

CFO News Room

SNB Chairman Ammar AlKhudairy told CNBC in late October that the stake in Credit Suisse had been acquired at “floor price” and urged the Swiss lender “not to blink” on its radical restructuring plans. . But that number will fall markedly once CS confirms its entire net loss for this year. billion of losses. And not until 2025.

article thumbnail

Support measures to shield Thai, Indonesian and Philippine banks from asset risks rising on virus surge

Future CFO

Support measures for borrowers will limit the asset quality decline in Thailand, Indonesia, and the Philippines and banks in these countries have sufficient capital and provisions to absorb losses, though the resurgence of coronavirus cases will hinder their economic recovery and raise asset risks for banks , said Moody’s recently.