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FTSE 100 closes underwater; Wall Street continues to lose ground
The index of leading UK shares fell 51 points to 7,382 on Tuesday
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LON:HSBA
HSBC serves customers worldwide from more than 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC is one of the world's largest banking and financial services organisations.
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The index of leading UK shares fell 51 points to 7,382 on Tuesday
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Figures on unemployment for December in the UK are also on the diary
The coming week's agenda includes results from Anglo American, BHP, Glencore, BAE Systems, Smith & Nephew, and Pearson
The Swiss investment bank rated both stocks at 'outperform' while staying 'neutral' on Lloyds and Barclays and negative at 'underperform' for Standard Chartered
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The new rules include a ban on banks and building societies charging higher fees for unarranged overdrafts than arranged ones
The management shake-up will see Guyett and Elhedery promoted to co-heads as Assaf leaves, as CEO Noel Quinn appears to ramp up job cuts
Both banks have also been told to instigate an independent review of their compliance
Samir Assaf's departure may fit into a larger raft of lay-offs, after reports in October that interim chief executive Noel Quinn was planning to cut 10,000 jobs, focusing mainly on high-paid roles
"We will act to rebalance our capital away from low-return businesses and adjust the cost base in line with the actions we take," said interim CEO, Noel Quinn.
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IG analyst warns that the pathway to resolving the Brexit deadlock remains "far from certain"
First Direct will boast new features including an in-app marketplace and artificial intelligence to automate customer processes
Former chief executive John Flint stepped down in August saying that the bank needed new leadership to its face flagging fortunes
AJ Bell investment director Russ Mould said HSBC does not appear to have a habit of changing its CEO too often, making today's announcement seem "all the odder".
HSBC said it plans to launch a US$1bn share buyback “shortly”
China lets its currency fall against the US dollar to ten-year lows in what is being seen as payback after the US announced additional tariffs
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The week ahead includes interim results from HSBC, Standard Life Aberdeen and William Hill along with UK economic growth data
Jonathan Symonds will be the man tasked with overseeing the mega merger of GSK and Pfizer’s consumer healthcare businesses
JPMorgan analysts downgraded their rating on Lloyds to ‘neutral’ and cut the share price target
AJ Bell’s Dividend Dashboard shows that payments from London’s 100 biggest companies is expected to total £91.2bn this year