Investors might want to bet on HSBC (HSBC) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power ...

HSBC Asset Management has named Thorsten Michalik as the new chief executive of its alternatives division, effective 1 April. He will replace Joanna Munro, who is set to retire following a career spanning over 40 years in asset management, including two decades at HSBC. Munro has been at the helm of the alternatives business since 2021. Michalik joined HSBC Asset Management in November 2019 and most recently held the position of CEO for Europe, UK, and Americas, overseeing both sales and management ope ...

Investors interested in stocks from the Banks - Foreign sector have probably already heard of HSBC (HSBC) and National Australia Bank Ltd. (NABZY) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings es ...

LONDON, March 23 (Reuters) - HSBC has appointed David Rice as its first chief AI officer, the ‌British bank said on Monday, as it ‌seeks to cut costs and improve performance by increasing the use ​of generative AI technology across its businesses worldwide. HSBC CEO Georges Elhedery has highlighted AI as the key to the bank's wider strategic goal of increasing its return ‌on tangible equity ⁠to above 17% for 2026-2028, via savings from automating and streamlining its processes. * Rice ⁠was previously t ...

Group 1 - HSBC has appointed David Rice as its first Chief AI Officer to enhance the use of generative AI technology across its global operations [1][2] - The bank aims to increase its return on tangible equity to above 17% for the period of 2026-2028 by automating and streamlining processes [2]

Hong Kong, March 23, 2026 (GLOBE NEWSWIRE) -- Following the sellout success of its previous editions, Hong Kong Web3 Festival has announced its return on 20-23 April at HKCEC. Hong Kong Web3 Festival (“Web3 Festival”), co-hosted by Wanxiang Blockchain Labs and HashKey Group, is Asia's premiere crypto conference since 2023. Now in its 4th year, this four-day event will once again bring tens of thousands of Web3 professionals, investors, and enthusiasts across the globe to connect, learn and be inspired. In- ...

据新华社，中共中央政治局委员、国务院副总理何立峰21日傍晚在钓鱼台国宾 馆 会见汇丰、瑞 银、路易达孚、西门子医疗、施耐德电气、力拓、保诚、银瑞达、渣打、书赞桉诺、天丝等知 名跨国公司负责人。 何立峰表示，当前中国 经济稳中有进、向新向优，"十五五"时期中国将坚定不移扩大高水平 对外开放，推动高质量发展，这将为跨国公司创造更为广阔的市场机遇。欢迎跨国公司加大在 华投资力度，不断深化互利合作。 跨国公司负责人表示，对中国经济充满信心，愿继续深耕中国市场，持续扩大对华投资。 ...

Global banking giant HSBC Holdings Plc is considering significant job reductions in the years ahead, as CEO Georges Elhedery bets on artificial intelligence to downsize middle and back offices, Bloomberg reported. The greatest impact is anticipated to be seen among non-client-facing positions in global service centers, but the evaluation is only in an early stage, according to individuals familiar with the issue, the outlet reported. The moves could impact about 20,000 roles, or around 10% of the organizati ...

Group 1: Company Actions - Cryptocurrency exchange Crypto.com is reducing its workforce by 12% to integrate artificial intelligence into its operations, reflecting a broader trend in the corporate sector [1][2] - CEO Kris Marszalek emphasized that companies must pivot to AI quickly or risk failure, stating that those who combine AI tools with top performers will achieve unprecedented scale and precision [3] - This is not the first workforce reduction for Crypto.com, as the company previously laid off 20% of its global workforce earlier in 2023 due to the collapse of FTX and a focus on prudent financial management [3] Group 2: Industry Trends - The corporate sector is experiencing significant layoffs, with over 39,000 employees laid off by 66 tech companies in 2023, driven by the rapid integration of artificial intelligence [4] - Major companies like Block, Oracle, Amazon, and Meta have also implemented substantial layoffs, often linked to AI-driven cost-cutting measures [6] - HSBC Holdings Plc is considering up to 20,000 job cuts in the coming years as part of an AI-led overhaul, indicating a trend towards workforce reductions across various industries [7]

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. Since the dawn of ChatGPT in late 2022, tech evangelists have said that artificial intelligence would only augment, not replace, human labor. Recent corporate developments so far this year have called that proposition into question. U.K.-based bank HSBC may soon become the latest company to slash its workforce in favor of artificial intelligence tools. Citing anonymous sour ...