HSBC Holdings Plc plunged in Hong Kong trading after axing its dividend and warning revenue and loan losses will be impacted from the virus outbreak that has halted economic activity across large parts of the globe.
"While we do understand the social rationale behind these steps, this regulatory intervention risks leading to further underperformance by United Kingdom banks in the near-term, relative to both United Kingdom insurers and global banks", Citigroup analysts wrote in a note.
HSBC's shares slid 8.7% to HK$40.30 as of 11:52 a.m.in Hong Kong, bringing this year's decline to 33.7%.
Some of the biggest banks in the United Kingdom have scrapped billions of pounds in shareholder dividends and share buybacks after the Bank of England (BoE) said holding onto cash would help lessen the financial fallout from the coronavirus pandemic.
Andrew Jack, acteur de Star Wars, est décédé du coronavirus
Le comédien britannique Andrew Jack , vu dans Star Wars , est décédé du coronavirus, annonce mercredi l'agence de presse PA. Selon son agente, Andrew Jack travaillait dernièrement sur le tournage du dernier Batman en tant que coach vocal.
Gillispie back in Division I close to home at Tarleton State
Former Kentucky coach Billy Gillispie is the new head coach at Division I-bound Tarleton State, the school announced Monday. Gillispie has been coaching since the early 1980s, with stops at the high school, junior college and Division I level.
It comes after a request from the Bank of England's Prudential Regulation Authority (PRA) that they suspend all plans to return money to shareholders.
"It looks structurally bearish for the sector, namely: higher cost of equity, increased regulatory uncertainty, weaker investment cases in the event of future capital raises", Jefferies analyst Joseph Dickerson wrote in a note, adding that HSBC is likely most at risk. They also agreed to suspend any buybacks. Standard Chartered Plc tumbled 5.3%. Barclays was due to pay more than £1 billion on Friday.
Banks are under pressure globally from volatile markets and slumping growth, but have also been at the front-end of massive support from central banks and regulators, including relief on some capital buffers and more time to tackle soured loans. But it warned reported revenue for the three months to the end of March would suffer in insurance manufacturing and credit and funding valuation adjustments in global banking and markets alongside higher credit losses.
In a brief trading update HSBC said performance had been resilient in the first quarter of 2020 in hard economic conditions and credit quality had held up well so far.
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He pledged that the first of thousands of new ventilators will be completed this weekend and delivered to the NHS next week. A total of 381 Covid-19 patients died on Monday, the highest single increase in the number of deaths so far.
Over 1,400 people have died from the virus in the United Kingdom and Prince Charles had a message for the families of the victims. Prince Charles is offering a hopeful message amid the coronavirus pandemic after recently testing positive for COVID-19 himself.
Mickelson defeated Woods in 2018 in a one-on-one matchup for $9 million in a pay-per-view event staged in Las Vegas. The coronavirus global epidemic has shut down almost every sports league worldwide, including the PGA Tour.
Two years ago she was given the Outstanding Female Scientist Award by the European Development Clinical Trials Partnerships. She said Ramjee was an eminent scientist who dedicated her life to HIV prevention for women and girls in Africa.
But as Beijing guards against a second wave of infections from overseas , the pace of business resumptions has been slow. This is especially true now that much of the rest of the world has entered into lockdown.
As of Wednesday morning, more than 188,000 people across the country have been infected, and almost 4,000 people have died. That was before she sparred with Donald Trump over coronavirus and helped deliver Biden the MI primary.
La dite programmation sera prévue jusqu'à la fin du mois de Ramadan et pourra être reconduite au besoin, selon le CCM. Le Centre cinématographique marocains (CCM) à décidé d'apporter une touche de fun dans leur quotidien de confinés.
The Cortland County Health Department can't test for COVID-19 itself, which is now being done through local health care providers. Additionally, the health department has received 363 negative test results and there have been no hospitalizations to date.
The incident follows a 2014 compromise of Starwood Hotels guest reservation database, which was acquired by Marriott in 2016. Furthermore, the company has disabled existing passwords of customers using its loyalty programme Marriott Bonvoy.