HSBC Rejects Ping

HSBC (HSBA.L) pushed back on a proposal by top shareholder Ping An Insurance Group Co of China  

The comments that London-based HSBC made on Monday were its most direct defense yet since Ping An’s plan...

It comes before HSBC’s shareholders’ meeting on Tuesday in Hong Kong, where the Chinese insurance company’s plan will be discussed.

And in a move that made investors happy, HSBC raised its goal for return on tangible equity, which is a key performance metric...

As reasons for its increased optimism, the bank pointed to falling costs, a 4 percent rise in adjusted revenues...

Shares of HSBC went up almost 8% in London, making them trade at their highest level since the end of June.

Chief Executive Noel Quinn, who has run the bank for more than two years, told analysts, “We feel bad for Ping...

Asia is where HSBC makes the most money. In the first half, Asia’s share of the bank’s profit went up from 64 percent a year...