Month: August 2022

Profits at HSBC’s global markets and banking unit rose 37% in the second quarter as trading income rose, but trading fees more than halved in the period. The UK lender made a profit of $1.7 billion for its GBM division, which houses its investment bank and trading functions, up 37% on the same period last year. Trading revenue rose 20% to $2.3 billion in the second quarter, boosted by a rise in commissions from its forex traders. The UK lender has been reducing risk-weighted assets from its trading functions in recent years after unveiling a sweeping overhaul of its business…

LONDON–(BUSINESS THREAD)–Tellimer, the global technology, information and data provider, announces the launch of Scriber, a financial intelligence and research platform built for independent analysts, traders, investors, subject matter experts and financial commentators to deliver research , knowledge and business. comment to the growing investment and trading community. Scriber will target the estimated 300 million individual investors worldwide who trade and invest in a wide range of assets through new real-time trading platforms. These investors are often highly connected through digital and social channels and are underserved by traditional data and information structures. In addition to improving individual investors’ access to…

Barclays has slashed youth bonuses this year in a sign that a collapse in the deal will hit bankers’ pay. The U.K. lender released bonus numbers for its analysts this week and has cut variable compensation, according to negotiators and headhunters. Analyst bonuses at most investment banks are paid over the summer, with the highest paid between January and March. Average payments for first-year analysts at Barclays equaled about 40% of base salaries, or $45,000, while second-year analysts received 65%, or about $80,000, according to people familiar with the matter . Bonuses are higher for top performing bankers. The figures…

Reading Time: 2 minutes On 6 and 7 August 2022, esports athletes will take center stage in Birmingham, UK, competing at the Commonwealth Esports Championships for the first time. More than 100 athletes representing different Commonwealth nations and territories will compete in three sports titles: DOTA 2, eFootball series and Rocket League for the honor of being crowned champion. Held at the same time as the Birmingham 2022 Commonwealth Games, the championships represent a very important moment in the evolution of sports. Paul J. Foster, Director General of the GEF, said: “This is historic. Fans of all ages will soon…

St. PAUL – Governor Tim Walz last week announced a ten-year economic expansion plan at Wyoming Machine in Stacy, Minn., following the release of a report from the Governor’s Council on Economic Expansion titled “Minnesota’s Moment: A Roadmap to Economic Expansion.” The report makes dozens of recommendations that fall within five cores “commitments” to economic growth in Minnesota: 1. Commit to people, as Minnesota’s number one strength and key to a prosperous future. 2. Commit to communities, as a nexus of growth and opportunity. 3. Commit to companies, as the engine that will write the next chapter of the global…