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Joseph Little - 1 Little - 1 HSBC's Little - 1
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Shanghai Bank - 1 HSBC - 1 Ucg - 1 Getty - 1 HSBC Asset Management - 1 Global - 1 CNBC - 1 U.S . Federal Reserve - 1

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3 mentions found


☆ A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024
  + stars: | 2023-06-27 | by ( Elliot Smith | ) www.cnbc.com   time to read: +4 min
Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesThe U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management. "The coming recession scenario will be more like the early 1990s recession, with our central scenario being a 1-2% drawdown in GDP," Little added. HSBC expects the recession in Western economies to result in a "difficult, choppy outlook for markets" for two reasons. HSBC remains overweight on Chinese stocks for this reason, and Little said the "diversification of Chinese equities shouldn't be underestimated."
Persons: Joseph Little, Little, HSBC's Little Organizations: Shanghai Bank, HSBC, Ucg, Getty, HSBC Asset Management, Global, CNBC, U.S . Federal Reserve, European Central Bank, Bank of England, Fed Locations: Hong, Hong Kong, Victoria, China, Europe, India
☆ HSBC spinoff: Bank's top execs face tense shareholders in Hong Kong calling for a breakup
  + stars: | 2023-04-03 | by ( Michelle Toh | ) edition.cnn.com   time to read: +6 min
Quinn addressed those complaints head-on Monday, saying “our profits in Hong Kong and the UK are no longer being dragged down by underperformance elsewhere. Mark Tucker, chairman of HSBC, left, and Peter Wong, chairman of the Hong Kong and Shanghai Banking Corporation, departing following the bank's shareholders meeting in Hong Kong on Monday. They argue that if the lender cordoned off its activities in Asia, it would no longer have to expose Hong Kong shareholders to requests in other jurisdictions. Christine Fong, a district council member in Hong Kong, said she represented about 500 small shareholders who had been affected by the dividend cancellation. An HSBC bank branch in Hong Kong last July.
☆ A COVID-19 quarantine bus overturned on a mountain road in China, killing 27 and sparking anger at draconian isolation policy
  + stars: | 2022-09-19 | by ( Mia Jankowicz | ) www.businessinsider.com   time to read: +3 min
A bus rolled over on a Chinese mountain highway on Sunday, killing 27 and injuring 20. President Xi Jinping reasserted his commitment to China's strict "zero Covid" policy in June. The bus was an official government vehicle for transporting people to COVID-19 isolation, The Guardian reported, citing local officials. "She didn't go anywhere apart from going out for PCR tests ... but she suddenly got taken to quarantine and died." China has maintained a strict "zero Covid" policy, putting multiple regions in and out of lockdowns over the last two years, as Insider's Hueling Tan reported.
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