{
}
Huawei's Richard Yu criticized BYD's plans for advanced autonomous driving, emphasizing the distinction between functionality and safety. He highlighted that Huawei's technology, featured in its luxury Maextro model, is poised to set new standards in the industry. Meanwhile, BYD announced its 'God's Eye' system will be standard in vehicles over 100,000 yuan, as China's car sales dropped 12% in January.
Huawei executive Richard Yu Chengdong criticized BYD's plans for advanced autonomous driving, emphasizing the distinction between functionality and safety. He likened the complexity of autonomous driving to the difference between making a phone call and browsing the internet, asserting that Huawei's Harmony Intelligent Mobility Alliance is pioneering in this field. Yu also announced that key technology for Huawei’s luxury Maextro model will be unveiled this month.
HSBC Holdings repurchased 2.0348 million shares on the Hong Kong Stock Exchange last Friday, spending HKD166 million. The shares were bought at prices ranging from HKD81.35 to HKD81.95, with a weighted average price of approximately HKD81.72 per share.
HSBC analysts have warned that New World Development (NWD) may need a comprehensive debt-reduction plan or a capital injection from the Cheng family to address a liquidity crisis, as its shares have dropped 37% since late November, losing HK$6.4 billion in market value. Despite a recent 6.3% rally, shares remain near a record low of HK$4.04. HSBC has cut its price target for NWD to HK$3.66, with a majority of analysts rating the stock as a sell, while CEO Echo Huang is focused on improving the company's financial position.
New World Development (NWD) faces a liquidity crisis, prompting analysts at HSBC to suggest a debt-reduction plan or cash injection from the Cheng family. The company's shares have plummeted 37% since late November, leading to a revised stock-price target of HK$3.66. A comprehensive deleveraging strategy is recommended to alleviate investor concerns, as NWD attempts to boost sales by pricing its residential units at multi-year lows.
Morgan Stanley anticipates that HSBC Holdings and Standard Chartered will focus on their ability to maintain return on equity (RoE) in their upcoming FY24 results, with HSBC possibly releasing more capital. A stable RoE outlook is expected to support bank stock prices, although sluggish operational prospects may hinder performance. Additionally, loan growth for Hang Seng Bank and BOC Hong Kong is projected to remain weak, with net interest margins under pressure due to declining asset yields.
HSBC Holdings has repurchased 2.5 million shares on the Hong Kong Stock Exchange, spending HKD202 million. The shares were bought at prices ranging from HKD80.5 to HKD80.8, with a weighted average price of approximately HKD80.63 per share.
UBS is expanding its digital gold offerings beyond Switzerland by testing a proof of concept using ZKsync, an Ethereum layer 2 solution, to address scalability, privacy, and interoperability challenges. The bank's key4 gold product allows fractional gold investments and has previously utilized blockchain technology for various tokenized securities. This initiative follows a trend of tokenized gold offerings from both crypto entities and traditional institutions.
European banks are facing significant job cuts as they grapple with stagnant growth and increased competition from US counterparts. Deutsche Bank and HSBC are leading the charge, with plans to reduce headcount and restructure operations, while some banks like BNP Paribas and Barclays are considering bonus increases for their investment bankers. The ongoing challenges highlight a stark contrast in profitability and strategy between European and American financial institutions.
Europe's banks are initiating significant job cuts as they face a challenging economic landscape, with Deutsche Bank and HSBC leading the charge. The moves aim to enhance profitability amid stagnant growth and increased competition from US banks, which are thriving under a pro-business administration. While some banks plan to raise bonuses, the overall trend indicates a shift in focus towards more profitable regions, particularly Asia and the Middle East.
Hong Kong Dollar
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
huawei challenges byd on autonomous driving safety and reliability standards
20:11 11.02.2025
Huawei executive critiques BYD's autonomous driving claims on social media
05:17 11.02.2025
hsbc holdings repurchases over 2 million shares for hk dollar 166 million
01:14 10.02.2025
hsbc urges new world development to address liquidity crisis amid plummeting shares
United States Dollar
Hong Kong Dollar
New World Development Co. Ltd.
HSBC HOLDINGS
HKG
Henry Cheng
Huang Shao-Mei Echo
18:48 07.02.2025
new world development faces liquidity challenges amid falling stock prices
United States Dollar
Hong Kong Dollar
New World Development Co. Ltd.
HKG
USA
Henry Cheng
Raymond Liu
Michelle Kwok
Show more
09:40 07.02.2025
Morgan Stanley predicts stable RoE outlook for Hong Kong banks' results
Hong Kong Dollar
HANG SENG BANK
Standard Chartered PLC
HSBC HOLDINGS
BOC Hong Kong Holdings Ltd
HKG
Goldman Sachs
Show more
04:30 07.02.2025
hsbc holdings repurchases 2.5 million shares for hk dollars 202 million
01:05 07.02.2025
ubs explores blockchain to expand digital gold investments beyond switzerland
Hong Kong Dollar
United States Dollar
Mitsui & Co., Ltd.
Euroclear N.V.
JPN
HKG
CHE
SGP
Christoph Puhr
Show more
13:37 03.02.2025
european banks announce significant job cuts amid challenging economic conditions
Hong Kong Dollar
Chinese Yuan
United States Dollar
Euro
JPMorgan Chase & Co.
UBS Group AG
BNP Paribas SA
Julius Bär Gruppe AG
The Goldman Sachs Group Inc
HSBC Holdings plc
Deutsche Bank AG
Barclays PLC
David M. Solomon
John Cronin
Jeremy Barnum
Georges Elhedery
Christian Sewing
Show more
17:00 31.01.2025
european banks announce significant job cuts amid profit struggles and competition
Hong Kong Dollar
Chinese Yuan
United States Dollar
Euro
JPMorgan Chase & Co.
UBS Group AG
BNP Paribas SA
Julius Bär Gruppe AG
Credit Suisse High Yield Bond Fund, Inc.
The Goldman Sachs Group Inc
HSBC Holdings plc
Deutsche Bank AG
Barclays PLC
USA
DEU
HKG
ARE
CHE
CHN
GBR
John Cronin
Jeremy Barnum
Stefan Bollinger
Christian Sewing
Sergio Ermotti
David M. Solomon
Alex Marshall
Georges Elhedery
Michael Roberts
Show more
10:55 31.01.2025
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Retail and Consumer Goods
Banking Regulations
Finance Mergers & Acquisitions
CEO Changes
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Central Bank Actions
Global Trade Developments
Domestic Politics
Financial Scams and Security
Private Equity Deals
Corporate Social Responsibility
Supply Chain Management
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
UBS Group AG
Deutsche Bank Money Market PP
BNP Paribas SA
The Goldman Sachs Group, Inc.
Apple Inc.
Wells Fargo & Company
Commerzbank AG
Banco Santander, S.A.
SpaceXCoin USD
UniCredit S.p.A.
Amazon.com, Inc.
Danske Bank A/S
NVIDIA Corporation
Google Inc.
HSBC Holdings plc
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Danish Krone
Hong Kong Dollar
South Korean Won
Australian Dollar
Singapore Dollar
Russian Ruble
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Indonesian Rupiah
Turkish Lira
Chilean Peso
United Arab Emirates Dirham
People: