HSBC

HSBC is considering significant job cuts, potentially impacting 20,000 roles, as part of an AI efficiency drive and broader restructuring. This move is expected to reduce costs and streamline operations, but its shares fell following the report.

HSBC's Orion platform has been selected by the United Kingdom to run the pilot issuance of digital government bonds. This highlights HSBC's leadership in blockchain-based financial solutions and strengthens its position in the global capital markets, having already facilitated over $3.5 billion in digital bond issuances.

HSBC closed its Qatar branches and its shares dropped more than 6% on Thursday, bringing falls since February 28 to 14%. The bank's Middle East exposure is forecast at about 4% of revenue and profit before tax.

HSBC Innovation Banking provided a USD 12 million venture debt to Wonder, demonstrating its commitment to supporting high-growth, tech-led businesses in the fintech sector. This transaction aligns with HSBC's strategy to empower innovative platforms.

HSBC compiles and reports the India Services PMI, providing key economic data that influences market perceptions of India's economic health. Its chief India economist, Pranjul Bhandari, offers expert commentary on the findings.