About: http://data.cimple.eu/news-article/0106b7399d707615602eb32e0dac02759f63f3f30dc2148448438fb3

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/0106b7399d707615602eb32e0dac02759f63f3f30dc2148448438fb3 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	HSBC said on Tuesday that first-quarter profits more than doubled, helped by a reversal in credit losses as well as its major restructuring and pivot to Asia. Adjusted profit before tax rose 109 percent to $6.4 billion although reported revenue slipped five percent on year to $13.0 billion thanks in part to low interest rates. The results, which beat estimates, are a shot in the arm for the Asia-reliant lender after a tumultuous year that saw its fortunes take a hammering from the coronavirus and simmering geopolitical tensions. "I am pleased with our revenue and cost performance, but particularly with our significantly lower expected credit losses," Chief Executive Officer Noel Quinn said in a statement. Quinn struck a cautiously optimistic note for the near future with hopes high that mass vaccinations may start to ease pressure on the global economy, even as infections continue to soar. "The economic outlook has improved, although uncertainties remain," he said. Bright spots included a $400 million reversal in credit losses and all regions reporting profits, including the UK where pre-tax profits were more than $1.0 billion for the quarter. Like all banking giants HSBC was battered by the coronavirus last year with a 30 percent plunge in 2020 profit. Under Quinn, HSBC has embarked on a dramatic restructuring. It has rolled out plans to cut its workforce by about 35,000 to drive down costs and to refocus on its most profitable areas -- Asia and the Middle East. HSBC makes 90 percent of its profit in Asia, with China and Hong Kong the major drivers of growth. jta/dan
schema:headline	HSBC first-quarter profits more than double to $6.4 bn
schema:mentions	HSBC Noel Gallagher USA Gymnastics Asia Middle East Hong Kong Chief executive officer United Kingdom China Severe acute respiratory syndrome coronavirus 2 Jewish Telegraphic Agency Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	67 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software