HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from how the bank was approaching demands for an overhaul of its business to its purchase of Silicon Valley Bank’s UK arm.
Ken Lui, an activist shareholder in Hong Kong who put the resolution together, doubled down on his call for support ahead of the meeting Monday. The resolution will require 75% of votes to be passed in May, but “nothing is impossible,” he told reporters outside the meeting venue. Lui, who said he personally held a stake worth 100 million Hong Kong dollars , laid out plans for his team to focus on “targeted outreach to institutional shareholders to present our case and gain their support.
HSBC can offer to spin off Asia in 99 years. Just like Hong Kong had to wait for British rule to end.
Corruption getting tence
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GM plans to phase out Apple CarPlay in EVs, with Google's help | CNN BusinessGeneral Motors plans to phase out widely used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle's infotainment system, shifting instead to built-in infotainment systems developed with Google for future electric vehicles. I didn't think GM could do more to make ne hate them. I'll ditch my car before I ditch my phone. Well, I’ve bought my last GM car then.
Source: CNN - 🏆 4. / 95 Read more »
Welcome to the era of viral AI generated 'news' images | CNN BusinessThe rise of a new crop of buzzy artificial intelligence tools has made it cheaper and easier than ever to create realistic-seeming images, audio and videos. And these images are likely to pop up with increasing frequency on social media. Wherein cnn is upset that now others can spew fake news… Making it even easier for conartists to con people. True_Allah_Kabir पुस्तक 'फजाईले आमाल ' 99 मुसलमानों की एक विश्वसनीय पवित्र पुस्तक है जो हदीसों में से चुनी हुई हदीसों का प्रमाण लेकर बनाई गई है। फजाईले आमाल में एक अध्याय फजाईले जिक्र है। उसकी आयत नं. 1, 2, 3, 6 तथा 7 में कबीर अल्लाह की महिमा है Baakhabar Sant Rampal Ji
Source: CNN - 🏆 4. / 95 Read more »
Starbucks fires Buffalo union worker who 'ignited a movement' to organize | CNN BusinessStarbucks has fired a Buffalo, New York, worker who 'ignited a movement' from one of the first stores in the coffee chain to unionize, Starbucks Workers United said Friday. Starbucks is overpriced and overhyped. It would be better off, letting their managers run the store and not even have a chief operating officer. An outlandish waste of money. Just because you're in the Union does not mean you don't get fired
Source: CNN - 🏆 4. / 95 Read more »
OPEC producers announce voluntary oil output cuts | CNN BusinessSaudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production, with Riyadh saying it would cut output by 500,000 barrels per day, or bdp, from May until the end of 2023, state media reported. So gas prices going up? amusingly Go ahead and make the price of oil go up, it will make it profitable to extract in the USA again.
Source: CNN - 🏆 4. / 95 Read more »
Swiss prosecutor probes Credit Suisse takeover | CNN BusinessSwitzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said Sunday. Learn about the religion of Islam
Source: cnni - 🏆 326. / 59 Read more »