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Added on the 16/01/2015 17:32:27 - Copyright : Reuters EN
Hong Kong, Feb 23 (EFE/EPA).- British bank HSBC announced Tuesday that its reported profit attributable to ordinary shareholders fell 34.7 percent in 2020 to $3.9 billion."In 2020, HSBC had a very clear mandate – to provide stability in a highly unstable environment for our customers, communities and colleagues," Group Chief Executive Noel Quinn said in the bank's annual report posted on its website.(Camera: JEROME FAVRE)SHOT LIST: THE HSBC HEADQUARTERS IN HONG KONG, CHINA.
On Friday, Goldman Sachs predicted the UK's economy will grow 7% in 2021. The growth will be led by the coronavirus vaccine rollout and a Brexit trade deal. Over half of the country's population is expected to be immunized by March. Business Insider reports there will be a significant rebound in economic activity from the second quarter of next year. New trade restrictions are likely to weigh on potential growth in the coming years. Goldman said the drag will mostly be slow to materialize. UK GDP will end the year 11.7% under its pre-pandemic level, twice as much as Germany, France, and Italy.
A surge in trading revenue helped drive the investment bank's quarterly profit up 47 percent. But one analyst notes it's trailing its peers in trading, as Fred Katayama reports.
Quarterly revenue fell, but the investment bank managed to boost its earnings through huge cost cuts. Fred Katayama reports.
A huge settlement over mortgage-backed bonds slammed Goldman's earnings. It marked the third straight quarter of falling earnings at Wall Street's premier investment bank. Fred Katayama reports.
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