HSBC announced its third-quarter earnings on Tuesday.
HSBC shares slump on revenue miss, lender announces share buyback of up to $1 billion
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Number of UK businesses in financial distress ‘at two-decade high’
Administrator BTG says 738,144 firms struggling as calls grow for more support for private sector in budget The number of UK businesses in financial distress has hit its highest level in more than two decades, as pressure grows on the chancellor to provide more support to the private sector in Wednesday’s budget . There were 738,144 businesses in “significant” financial distress in the third quarter of this year, up 1.6% compared with the same period last year, according to BTG. That is the highest level since the administrator’s closely watched “red flag” report began in 2004. Continue reading...

HSBC profits surge 32%, sparking fresh calls for bank taxes in the budget – business live
Rolling coverage of the latest economic and financial news UK shop price inflation ‘highest since 2024’ as retailers struggle to limit price rises The 6% drop in HSBC’s share price this morning has made rather a dent in the FTSE 100 share index. The ‘Footsie’ is down 108 points, or 1%, at 10,659 points. “You don’t usually get fireworks from HSBC results, and these are no exception. There are signs of some improvement overall, and a boost to the buyback is welcome, but it’s clear why the market wasn’t really inspired by these numbers. HSBC seems to be doing ok, but ok doesn’t really cut it in a world where inflation is back on the menu and growth may start to slow. At least it’s not exactly rolling in profits this time around, providing some useful air cover ahead of a UK budget that will may include another raid on banks.” Continue reading...
Opinion: UK bond investors want spending cuts. John Healey’s first Budget may disappoint
John Healey delivers his first U.K. Budget with less fiscal room, higher spending pressures and bond investors pushing for less borrowing and more growth.