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HSBC CFO: Bank to restructure after Q3 profit drop

Future CFO

HSBC’s CFO Ewen Stevenson said the bank plans to restructure its loss-making businesses after announcing an 18% year-on-year drop in pre-tax profit in Q3 on Monday. The Hong Kong-listed bank reported pre-tax profit of US$4.8 The post HSBC CFO: Bank to restructure after Q3 profit drop appeared first on FutureCFO.

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Does My Business Debt Need Restructuring?

CFO Share

Proper levels of debt not only improve company liquidity but also increase shareholder returns, allowing faster cash cycles and investment to grow your business. Then I am hired to negotiate with lenders to help small businesses restructure debt and avoid folding. Does your small business need debt restructuring?

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10 Tuesday AM Reads

Barry Ritholtz

In other words, share prices are outpacing puny expectations for profit growth. ( Axios ) • New Glut City : The city’s mega-office landlords are panicking, pivoting, and shedding what’s worthless. The $10 billion event-driven is a deep value-focused investor specializing in companies that need financial and operational restructuring.

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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.

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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train WFH reads: • Is Rolex a Non-Profit? The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. The Guardian ) • Vivek Ramaswamy’s investment firm dials back anti-woke rhetoric. Wagner began his career doing hedge fund accounting at Ernst & Young.

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Ride-Hailing Firm Grab Cuts Staff 

PYMNTS

Grab , the $14 billion Southeast Asian ride-hailing startup, announced hundreds of job losses on Tuesday (June 16) as the impact of COVID-19 continues to take its toll. The layoffs are the latest restructuring at a SoftBank investment. Reuters reported the company will lay off more than 300 employees.

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Musings on Markets: Control, Complexity and Politics: Deconstructing the Adani Affair!

CFO News Room

The India Rising story hit some turbulence last week, as one of its biggest corporate success stories, the Adani Group, was hit with a report from Hindenburg Research, an investing group that specializes in targeting and shorting companies that it believes have dubious accounting and business practices.

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