Oct 30, 2020
Investors Chronicle: Bloomsbury, BP, HSBC
There were positive outcomes across the various business segments, demonstrated by a 47 per cent increase in sales for Bloomsbury Digital Resources. SELL: BP. BP scraped into profitability in the third quarter of the year, but has warned of further difficulties ahead, writes Alex Hamer. BP recorded an underlying replacement cost profit of $86m, well ahead of consensus estimates. HSBC was forced by the Bank of England to halt its quarterly payout this year, as the Covid-19 pandemic's effects on the UK economy began to dawn on regulators. HSBC now believes it can beat targets to reduce gross costs by $4.5bn and reduce risk-weighted assets by $100bn by the end of 2022.
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