Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
HSBC Restructures Banking Operations Under New CEO Georges Elhedery
On Tuesday, HSBC Holdings unveiled a major overhaul of its banking operations, merging its commercial and investment banking sectors under the leadership of new CEO Georges Elhedery. This strategic move aims to simplify the Asia-focused bank's operations and cut costs, resulting in a reduction of senior management positions.
To better align its services, HSBC will reorganize into four primary business units: UK, Hong Kong, corporate and institutional banking, and wealth banking. The newly formed corporate and institutional banking unit will integrate commercial banking with global banking and markets, including Western wholesale banking operations in Europe and the Americas.
In a memo to staff, Elhedery emphasized that this restructuring would "unleash our full potential and drive success into the future." This initiative comes amid increasing pressure on banking executives to manage rising costs effectively.
Pam Kaur has been appointed as HSBC’s first female Chief Financial Officer (CFO), bringing extensive experience from her current role as Chief Risk and Compliance Officer. Kaur joined the bank in April 2013 and previously served as the group head of internal audit.
Other notable management changes include Jon Bingham, who will transition from interim Group CFO back to Global Financial Controller, and Greg Guyett, who will take on a new position as Chair of the Strategic Clients Group. Meanwhile, Colin Bell, CEO of HSBC Bank and Europe, has chosen to step down to explore new opportunities.
With approximately 214,000 employees worldwide, HSBC continues to streamline its operations by eliminating duplicate roles and reducing its presence in Western markets, focusing on strategic growth in Asia.
