Since its establishment in 2011, the Consumer Financial Protection Bureau (CFPB) has faced criticism from powerful opponents, becoming an early target in Elon Musk’s overhaul of the U.S. […]
Banks
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HSBC to save $1.8 billion over two years under new CEO
HSBC reported annual profits that exceeded estimates, driven by growth in wealth and markets businesses, while unveiling cost-cutting targets under its new CEO Georges Elhedery. The bank announced […]
Banks
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HSBC eyes $1.8 billion in cost cuts by 2026 as new CEO looks to boost returns
HSBC aims to achieve $1.8 billion in cost reductions by 2026 under its new CEO Georges Elhedery, who is focused on enhancing returns. The bank reported 2024 earnings […]
Banks
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HSBC announces share buyback of up to $2 billion as annual profit jumps 6.5%
Europe’s largest lender HSBC on Wednesday reported annual pre-tax profit of $32.31 billion, marginally missing analysts’ estimates, as the bank’s net interest income declined by $3.1 billion from […]
Banks
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Southwest Layoffs Will Take 15% of Its Work Force
Southwest Airlines is set to lay off 15% of its corporate staff as part of a cost-cutting effort. This move, which includes senior leadership, marks the first mass […]
Banks
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Thames Water secures £3bn lifeline after court ruling
Thames Water has won a crucial High Court battle to secure a £3bn rescue loan, staving off the prospect of the debt-laden company coming under government control. The […]