Many companies are pouring millions into quantum computing programs to gain a competitive edge and prepare for future encryption threats.
HSBC's global chief executive for insurance business, Edward Moncreiffe, is set to leave the bank after two decades with the lender, according to two people with direct knowledge of the matter.
Prudential PLC (LSE:PRU) shares plunged 11.6% to 967.9p after reports that Chinese authorities had begun taxing returns from offshore insurance policies, threatening demand from mainland customers. The sell-off spread to other Asia-focused FTSE 100 companies, with HSBC Holdings PLC (LSE:HSBA, NYSE:HSBC) and Standard Chartered PLC (LSE:STAN) both dropping over 6%.
Citi has downgraded HSBC Holdings PLC (LSE:HSBA, NYSE:HSBC) to 'neutral' from 'buy', arguing that the shares need a breather after one of the strongest runs in the European banking sector this year. The stock is up 40% since January, and the bank now trades on roughly 11 times forward earnings and 2.2 times price to tangible book for a return on tangible equity of about 18% to 19%.
HSBC Holdings PLC's (LSE:HSBA) return to share buybacks was deemed a bit on the small side, despite the Asia-focused lender's stronger-than-expected quarter and improving business momentum. The FTSE 100's largest company announced a $1 billion buyback alongside a 60% rise in second-quarter pre-tax profit to $10.1 billion.
HSBC share price wavered today after the company published strong financial results, mirroring the performance of other European banks. It was trading at 1,575p on August 4, a few points below this week's high of 1,608p.
HSBC Holdings PLC (LSE:HSBA) has unveiled a fresh $1 billion share buyback after first-half profit rose 23% to beat forecasts, supported by growth in net interest income and its wealth business. The Asia-focused bank reported pre-tax profit of $19.5 billion for the first six months of 2026, up 23% from a year earlier.