HSBC may stop doing business with 40 French companies en route to completing its massive global restructuring, dumping one-fifth of its corporate client base in the country.
Fifty-five financial institutions including HSBC, Standard Chartered and Crédit Agricole joined a global initiative that awards stamps of approval to companies that meet science-based climate targets in alignment with the Paris Agreement.
A U.S. federal judge approved an aggregate $187 million settlement agreement resolving an antitrust class action against seven of the world’s largest banks that claimed the banks colluded to misreport and manipulate LIBOR rates, harming eurodollar investors.
The Bank of France chose eight finance businesses to test central bank digital currencies to improve payments between banks, following months of exploration by the country into a digital alternative to paper money.
London-based HSBC plans to cut 255 jobs from its French subsidiary’s struggling global and banking markets division, HSBC France’s Force Ouvrière union said Monday, marking the first time that HSBC France has seen economic layoffs.
Sixteen major European banks banded together to produce a payment system encompassing card payments, merchant transactions, and peer-to-peer payments, according to a joint statement released on Thursday.
More than 100 global investors whose assets exceed the gross domestic products of Germany, France, Italy and Spain combined implored European Union leaders on Friday to prioritize sustainability as they shape economic recovery policies to move forward from the coronavirus pandemic.