HSBC Expands UK Wealth Bet in Race to £100 Billion Asset Goal
Save
HSBC Holdings Plc is ramping up growth plans for its UK wealth-management operations as Europe's largest bank seeks to double the assets it oversees for well-heeled individuals in its home nation.
The London-based lender is undertaking a recruitment drive for bankers to cater to affluent, high-income and super-rich individuals, according to a statement and interview on Tuesday. The bank is also opening 50 dedicated spaces this year to bolster its wealth services in flagship branches across Britain.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
28 minutes ago
- New York Post
Several Amazon sellers skip offering Prime Day discounts as Trump tariffs slam costs: report
Amazon sellers are offering fewer discounts during this week's annual Prime Day sales event, saying their margins are too tight as they battle high costs from President Trump's tariffs, according to a report. The online sellers pulling back on deals account for approximately 60% of the products sold on Amazon, according to a Bloomberg, as the four-day sales bonanza kicked off Tuesday. Dan Peskorske, whose Upstream Brands sells aluminum trays that make decorative ice cubes for cocktails, typically sells his products at cost on Prime Day to boost sales. 4 Some Amazon merchants are offering fewer discounts during this week's annual Prime Day sales event. AP But he told Bloomberg his company is unable to offer any discounts this year for the first time because of the 50% tariff on aluminum. 'We're just gonna see what happens this year,' said Peskorske, whose St. Louis-based company generates about $4 million in annual sales, most of that from Amazon. 'There's just no room in the budget for Prime Day discounts.' Unilever Plc's Blueair typically offers discounts of about 30% on its air purifiers and humidifiers during Prime Day to promote the brand. But it's been forced to reduce the number of products on sale this year due to tariffs, according to CEO Andy Lu. 'We want to be cautious to see how this economy plays out for the rest of the year,' Lu told Bloomberg. 'This Prime Day has so much meaning as an indicator for brand owners and operators.' 4 President Trump speaks during an Invest America Roundtable event in June. REUTERS An Amazon spokesperson said the company is seeing a strong response from selling partners for this year's Prime Day event. 'We're working with our broad, varied range of valued selling partners in our store to support them in adapting to the developing environment while maintaining low prices and broad selection for customers,' an Amazon spokesperson told The Post. The sales event, which was extended for an additional two days this year, is expected to generate $23.8 billion in online sales for Amazon and other US retailers, according to Adobe Inc. It's unclear how the longer sales period will impact Amazon's Prime Day event. 'You don't have that sense of urgency that Prime Day seemed to be built around,' Katie Thomas, head of the Kearney Consumer Institute, told Bloomberg. 'The longer sales period might lead to cart abandonment.' The Prime Days will also offer a litmus test on the health of US consumers. About 25% of respondents in a survey of 1,000 US shoppers said they plan to skip the event altogether due to tariffs, while more than half said they will be closely monitoring prices, according to Akeneo, which sells software used by online merchants. 4 About 25% of respondents on a survey of 1,000 US shoppers said they plan to skip Prime Day altogether due to tariffs. AP 'Prime Day will provide an early indication on consumer appetite, especially in categories like apparel, electronics and TVs, where price drops are expected to be the deepest,' Vivek Pandya, lead analyst at Adobe, told Bloomberg. Trump unveiled hefty 'Liberation Day' tariffs on most trading partners in April, before pausing them for 90 days. On Monday, he extended the pause until Aug. 1. Retail sales have started to fall following massive front-loading as customers snapped up goods ahead of the tariffs – like a surge in car sales before Trump's 25% levy on foreign vehicles took effect. Amazon also is facing increased competition from other large retailers, like Walmart's six-day Deals event, which also started Tuesday, and Target's Circle Week that launched Sunday. Dick's Sporting Goods and Best Buy have also ramped up their summer sales offerings. Though smaller merchants are struggling to offer discounts this year, these massive e-commerce events are still expected to see a rush of sales. 4 US shoppers will spend nearly $13 billion on Amazon alone over the four-day period, according to EMarketer Inc. AP Online sales from July 8 to July 11 are expected to surge 28.4% compared with the same period last year, according to Adobe. US shoppers will spend nearly $13 billion on Amazon alone over the four-day period, up 59% from last year when Prime Day lasted just two days, according to EMarketer Inc. Tariffs, which are expected to drive up prices this summer, have pushed some shoppers to start their back-to-school purchases before August, which is especially early in the season, according to Coresight Research. 'It's the big hurrah before fall sets in and the tariff prices start kicking in,' Matt Pavich, the senior director of strategy and innovation at Revionics, a retail price-optimization company, told the New York Times.
Hamilton Spectator
31 minutes ago
- Hamilton Spectator
New Paint Facility at Bombardier's London Biggin Hill Service Centre Progressing to Plan as Structure Takes Shape
MONTREAL, July 08, 2025 (GLOBE NEWSWIRE) — Bombardier announced today that the development of a new 51,000 sq. ft. paint facility at the London Biggin Hill Service Centre is progressing in earnest with several key processes completed, including ground stabilization and foundation work on the hangar. The hangar steel framework continues to progress and the cladding works have also commenced. Bromley and Biggin Hill Member of Parliament, Peter Fortune, visited the London Biggin Hill Service Centre on July 4, which provided him with a closer look at the exceptional aerospace expertise at the service centre and the development of its most recent expansion. Bombardier's new two-bay paint facility is expected to employ more than 50 skilled paint technicians and will be the perfect complement to the close to 250,000 sq. ft. service facility, which is fully equipped to perform scheduled and unscheduled maintenance, modifications and avionics installations for Bombardier Global , Challenger and Learjet aircraft. With a targeted completion date in the second half of 2026, the new paint facility will add to the centre's comprehensive service options, ensuring Bombardier's customers have a top-tier option for all their paint needs. 'The addition of the new paint facility at the London Biggin Hill Airport adds a sought-after service element to the already comprehensive offerings for our customers, ensuring they have a complete maintenance experience to help keep their aircraft in the air,' said Sander Podgoric, General Manager of the London Biggin Hill Service Centre. 'The London Biggin Hill Service Centre brings hundreds of high-paying jobs to Bromley and Biggin Hill County. We are delighted to showcase this important facility to Bromley and Biggin Hill Member of Parliament, Peter Fortune, building on our shared vision of producing high-paying jobs in the region.' 'It was incredible to see behind-the-scenes at Bombardier's state of the art engineering facility. It is a great benefit for the borough to have a multinational company like Bombardier set their European flagship service facility here,' said Peter Fortune, Bromley and Biggin Hill Member of Parliament. 'It is exciting to see their commitment to developing in Bromley with the construction of their new paint facility, creating more local jobs and opportunities, and speaks volumes for the fantastic job that London Biggin Hill Airport does attracting inward investment to the region.' Inaugurated in 2017 and expanded in 2022 to nearly 250,000 sq. ft., the Bombardier Biggin Hill service centre serves as an important economic driver at the London Biggin Hill Airport and the London Borough of Bromley. It is a shining example of how Bombardier continues to enhance the accessibility of its OEM expertise for customers worldwide, redefining its position as a leader in service and support capabilities. The addition of the new paint facility isn't the only new development at the service centre.. In 2024, Bombardier and F/LIST announced the opening of a contemporary 700-sq. ft. material lounge to provide customers with access to the largest, most comprehensive portfolio of interior materials housed at one of its international service centres. Bombardier also announced last year the addition of more than 3,000 solar panels on the roof of the service centre and a new line maintenance station at the nearby Farnborough Airport providing light scheduled and unscheduled maintenance as well as Aircraft on Ground (AOG) support. About Bombardier At Bombardier ( we design, build, modify and maintain the world's best-performing aircraft for the world's most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs. For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it. Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier's performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious 'Red Dot: Best of the Best' award for Brands and Communication Design. For Information For corporate news and information, including Bombardier's Sustainability report, as well as the company's plans to cover all its flight operations with a Sustainable Aviation Fuel (SAF) blend utilizing the Book and Claim system visit . Learn more about Bombardier's industry-leading products and customer service network at . Follow us on X @Bombardier. Media Contacts General media contact webform Mark Masluch +1-514-855-7167 M Bombardier, Learjet, Challenger and Global are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries. Forward-looking statement This press release contains certain forward-looking statements. By their nature, forward-looking statements require the Corporation to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from those set forth in the forward-looking statements. Please refer to the 'Forward-Looking Statements' disclaimer contained in Bombardier Inc.'s most recently published financial report for additional details. A photo accompanying this announcement is available at:
Business Wire
an hour ago
- Business Wire
FHLB Dallas and Origin Bank Celebrate Awarding $2M in Affordable Housing Program Funds to Support The Wellspring's Holly Haven
MONROE, La.--(BUSINESS WIRE)--A new campus slated to open early 2027 to assist families experiencing homelessness in Monroe, Louisiana, received much needed support in the form of a $2 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), awarded through member Origin Bank. The banks celebrated awarding the funds to The Wellspring Alliance for Families Inc. (The Wellspring) during a ceremonial check presentation today. The AHP grant will support the development of Holly Haven, a private-living housing campus designed to serve unsheltered families and individuals, including those escaping domestic violence. 'This grant is crucial to the construction of a facility with private living spaces where families and individuals escaping trauma can find not just safety but also privacy and dignity,' said The Wellspring's President and CEO Caroline Cascio. 'Holly Haven will launch a new era of service delivery for The Wellspring and we are grateful to FHLB Dallas and Origin Bank for their support of this development, which will create a pathway to stability and self-sufficiency for families in Northeast Louisiana.' The Holly Haven campus will house two private-living facilities, one on the north side and the other on the south side of Holly Street in Monroe. Together, the two facilities will offer 28 units, some of which will adjoin to accommodate larger families. Both facilities will be equipped to meet the basic needs of those in residence and will be adjacent to service sites, including case management, safety planning and support groups for adults and children. 'We're proud to support The Wellspring and the creation of a facility that will offer both adults and children in our community a safe haven during trying times of their lives,' said Origin Bank's Senior Vice President, Commercial Relationship Manager Rick Guillot. 'This project aligns with Origin's purpose of enriching the lives of people in our community.' AHP funds are awarded through FHLB Dallas member institutions and assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. 'Whether in bustling urban centers or underserved rural communities, everyone deserves a place to feel secure and supported,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. 'We're proud to fund a project that will offer families in this community a vital lifeline, close to home, during times of crisis.' In 2024, FHLB Dallas awarded $21.7 million in AHP General Fund grants to Louisiana-based affordable housing projects. The grants will help create 684 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About Origin Bank Deeply rooted in Origin's history is a culture committed to providing personalized, relationship banking to businesses, municipalities and personal clients to enrich the lives of the people in the communities it serves. Origin offers a broad range of financial services and currently operates more than 55 banking centers located throughout Texas, Louisiana, Mississippi, Alabama and Florida. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit
