UK
HSBC sells Canadian banking operations to Royal Bank of Canada for $10.1b
HSBC sells Canadian banking operations to Royal Bank of Canada for $10.1b
The bank expects to generate an estimated pre-tax gain of $5.7b.
HSBC to close 114 branches in the UK
Some of the closing branches serve less than 250 customers a week.
Weekly Global News Wrap: Citi cuts mortgage staff; Banks offer pingpong, free meals in back-to-office push
And UK officials classify $1.27b small business loans as suspected fraud.
Weekly Global News Wrap: HSBC sells Russia business to Expobank; Julius Baer to freeze hiring
And HSBC’s UK unit plans to stop collecting gender data as part of inclusivity push.
Weekly Global News Wrap: US to bar Russian bond payments through US banks; England warns profit hit should banks fail to take climate action
And Barclays identifies material weakness in the internal control process.
Weekly Global News Wrap: Gender pay gap in UK banks at 32.1%; Spain mulls creating consumer protection authority
And over 200,000 globally apply for internships at Goldman Sachs.
Weekly Global News Wrap: Britain to unveil crypto regulations; Deutsche Bank CFO now co-deputy CEO
And HSBC steps up scrutiny of Russian clients amidst sanctions.
Weekly Global News Wrap: JPMorgan launches Chase in UK; Credit Suisse Asia mulls merging investment and advisory arms
And JPMorgan has bought the college planning platform, Frank.
HSBC exits US mass market retail banking, sells 90 branches
All personal, advance, and retail business banking customers with turnover below $5m are affected.
Weekly Global News Wrap: Morgan Stanley offers bitcoin to wealth clients; SLB market could hit $150b this year
And Barclays expands private banking unit to France and Italy. From CNBC:
Weekly Global News Wrap: UK fintechs brace for no-deal Brexit; Societe Generale to cut 640 jobs in France
And Deutsche Bank to sell IT services division to India's Tata Consultancy.
Weekly Global News Wrap Up: Germany's mega-bank merger may cut around 30,000 jobs; Italy eyes renewing bad loan guarantee scheme
And JPMorgan launches checkless no-overdraft accounts.
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