HSBC is quitting the financial hub and moving to smaller quarters. In this Viewsroom podcast, Breakingviews columnists discuss how hybrid working is an existential threat for commercial property and how Canary Wharf’s pivot to residential and retail may only be a partial salve.
Sergio Ermotti faces the daunting task of integrating two globally systemic banks. The returning UBS boss’s first big decision, though, has a more domestic focus.
The Swiss bank is under pressure to offload Credit Suisse’s local business to ease a political backlash in its home market. By avoiding immediate layoffs, and arguing that the division might not be viable on its own, he might be able to get away with keeping it.
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Breakingviews - UK’s leaky water model faces a growing stormBritain’s leaking water industry is facing a tidal wave of problems. Financial troubles at Thames Water have thrown the spotlight on Britain’s privately held utilities. But much higher investment needs likely in the coming years will mean bigger bills and greater political scrutiny. That could make it hard to maintain ownership models in their current form.
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HSBC’s Global Private Banking unit launches in IndiaHSBC Holdings Plc said Wednesday its Global Private Banking unit has launched in India with a focus on clients with investable assets of more than $2...
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HSBC trialing quantum-safe financial transaction network in the UKHSBC will experiment with various quantum technologies, including quantum key distribution, on a 64 km fiber optic network created by BT and Toshiba.
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Breakingviews - Ghost of Silicon Valley Bank turns up in ItalyA crisis at a small Italian insurer has rekindled concerns about the effect of rising rates. The rapid collapse of Silicon Valley Bank earlier this year was largely down to an ill-advised bond portfolio and liabilities that were less sticky than assumed. While Italy’s Eurovita isn’t a bank, its demise has some similarities with events across the Atlantic.
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Breakingviews - Why central banks cannot relax in inflation fight: podcastWestern policymakers have frantically hiked interest rates to dampen consumer prices. In this Exchange podcast, Claudio Borio, a top official at the Bank for International Settlements, argues that rate-setters need to keep going to ensure costs of living won’t stay elevated.
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Breakingviews - India can aim lower in its chip dreamsIndia’s semiconductor dreams are facing a harsh reality. After struggling to woo cutting-edge chipmakers like Taiwan Semiconductor Manufacturing to set up operations in the country, the government may now have to settle for producing less-advanced chips instead. Yet that’s no mere consolation prize: the opportunity to grab share from China in this commoditised but vital part of the tech supply chain could pay off.
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