Global investment bank Nomura cut its Chinese GDP forecast against on the latest wave of Covid lockdowns. The lockdown of Sichuan Province capital Chengdu last week sent fears for production surging as the 21 million population joined a continued shutdown for tech hub Shenzhen. Nomura confirmed approximately 12% of China’s GDP was currently impacted by […]

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New York-based investment bank Goldman Sachs (NYSE:GS) has outperformed Wall Street analysts’ predictions with a jump in profits, as its investment banking, wealth management and bond, currency and commodities trading divisions all thrived during the pandemic. Goldman Sachs reported quarterly revenue of $11.74 billion, up 18% from a year ago, and posted net income of […]

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Multinational investment bank and financial services group HSBC Holdings (LON:HSBA) announced on Tuesday that it would be implementing a large-scale job-cutting programme, as its full-year profit before tax contracted 33% year-on-year, down to $13.3 billion. The company continued to lay on the woeful news, telling investors that it was pessimistic about the outlook for 2020. […]

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Financial services provider Standard Chartered (LON:STAN) announced Q3 on-year profit growth of 35%, with income spiking and charges for sour loans falling. The firm is based in London but focuses its operations in Asia, Africa and the Middle East. Standard Chartered employ 87,000 personnel over 1,200 branches in 70 countries. Its profits for the third […]

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