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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

Then I am hired to negotiate with lenders to help small businesses restructure debt and avoid folding. Does your small business need debt restructuring? After filling out a short online form and scrolling past the terms and conditions (without reading them of course,) the money suddenly appeared in the business owner’s bank account.

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Today In Data: Smartphones As IDs, RBS Profits And Accounts Payable Payments

PYMNTS

billion | Number of adults in the world who do not have bank accounts and may not have government-issued IDs but do have mobile phones. That data will be used to instantly verify those mobile device users around the globe with the aim of reducing fraud tied to account openings. billion loss. Here are the numbers: 1.8

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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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How Do I Recover from Business Financial Fraud?

CFO Share

A bookkeeper or accountant who. Continuously shrinking cash despite profitable financial reporting. Once you have detected fraudulent behavior, it is time to hire forensic accounting services. Forensic accountants investigate, identify, and document fraud. Pursue debt restructuring or apply for additional debt.

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HSBC’s Digital SMB Banking Platform Launches In Beta

PYMNTS

Initially dubbed “Project Iceberg,” HSBC Kinetic aims to connect small businesses with mobile-based banking solutions, including a current account, overdraft and spending and cash flow management analytics. where the FI’s losses were greatest. We haven’t yet sized what that means in terms of the restructuring.”.

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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.