HSBC Holdings (HSBC) reported a first-quarter 2024 pre-tax profit of $12.7 billion, down 1.8% from the prior-year quarter. The reported quarter included a $4.8-billion gain following the completion of the disposal of the banking business in Canada, partly offset by a $1.1-billion impairment following the classification of its business in Argentina as held for sale.Results reflected higher expenses, and an increase in expected credit losses and other credit impairment charges (ECL). However, a rise in revenu ...

Goldman Sachs is reportedly closer to exiting its General Motors credit card business.The banking giant is in discussions with Barclays to transfer the issuance of the cards, the latest in its long-term project to move away from consumer lending, the Wall Street Journal (WSJ) reported Tuesday (April 30).Barclays is the top contender to take over the GM cards, which have around $2 billion in outstanding balances, and could reach a deal by this summer, the report said, citing sources familiar with the matter. ...

The former CEO of Barclays is now chairing TikTok challenger Triller.As the Financial Times (FT) reported Saturday (April 27), Bob Diamond has been chairing Triller owner AGBA since September and will serve in that capacity at the video-and-music-focused social media startup as well. According to the report, Triller claims to be worth more than $3 billion, though it has just $36 million in revenue and $1 million in cash on hand last year.AGBA, a financial services company, announced it was merging with Tril ...

Barclays (BCS) reported first-quarter 2024 net income attributable to ordinary equity holders of £1.55 billion ($1.97 billion), down 13% year over year.The company recorded lower revenues in the quarter, which was a negative. However, a decline in operating expenses, along with lower credit impairment charges, aided the results to some extent.Revenues & Expenses DeclineTotal income was £6.95 billion ($8.81 billion), down 4% year over year.Operating expenses (excluding litigation and conduct costs, and charg ...

Exhibit 99.1 Barclays PLC This exhibit includes portions from the previously published Results Announcement of Barclays PLC relating to the three months ended 31 March 2024, as amended in part to comply with the requirements of Regulation G and Item 10(e) of Regulation S-K promulgated by the US Securities and Exchange Commission (SEC), including the reconciliation of certain financial information to comparable measures prepared in accordance with International Financial Reporting Standards (IFRS). The purpo ...

Barclays PLC (NYSE:BCS) Q1 2024 Earnings Conference Call April 25, 2024 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group Chief Executive Anna Cross - Group Finance Director Conference Call Participants Joseph Dickerson - Jefferies Benjamin Toms - RBC Alvaro Serrano - Morgan Stanley Rohith Chandra-Rajan - Bank of America Guy Stebbings - BNP Paribas Christopher Cant - Autonomous Research Robin Down - HSBC Jonathan Pierce - Numis Corp. Operator Welcome to Barclays Q1 2024 Results Analyst and Invest ...

LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul.Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data.Net income for the first quarter 2023 was $1.78 billion.Barclays reported a net loss of £111 million in the fourth quarter of 2023 due to an operational ...

Barclays PLC’s (BCS) business restructuring and cost-mitigating efforts are likely to aid growth and boost operating efficiency. The company’s recent inorganic expansion initiatives are expected to further boost its profitability. However, uncertainties in the capital markets are likely to impede revenue growth to some extent.BCS’ initiatives to enhance operating efficiency over the last few years have been coming to fruition, which is demonstrated by the reduction in expenses. Though total operating expens ...

Key Points3M shares dropped by 20% this week following the spinoff of its healthcare division, a new company called Solventum.Keeping its larger businesses in the portfolio, 3M is set to continue riding the new manufacturing breakout in the U.S. and China.Forbes and Barclays think the remaining segments are worth double-digit upside from today's prices, with a 6.5% dividend.5 stocks we like better than BarclaysInvestors woke up this week to find shares of 3M NYSE: MMM trade lower by roughly 20%. What seemed ...

Barclays PLC (BCS) makes a push into the private credit market. The firm, along with AGL Credit Management, a premier investment manager specializing on corporate credit strategies, announced a cooperation agreement and the launch of a private credit investment platform, AGL Private Credit (AGL PC).AGL PC has received an anchor commitment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”).The platform combines AGL’s established credit capability with proprietary access to Barclays ...