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Good morning. You have been crunching the numbers, they have just come out. They sound like they are doing very well. It does, doesnt it . They are benefiting from Rising Interest Rates all around the world, not just in the uk. Hsbc is a global buying and we have had Interest Rate rises everywhere, they have cashed in on back. Margin up by a0 basis points and revenues increased as a result. Cashed in on that. Most of the money they are making is in asia, i assume . Yes, pretty much. They are looking at good performances in commercial banking, transaction banking, things like that. Its looking pretty solid across the board. ,. , board. There was this whole roblem board. There was this whole problem with board. There was this whole problem with their board. There was this whole problem with their biggest l problem with their biggest shareholder in china wanting to split u ....
Problem with their biggest shareholder in china wanting to split up hsbc. it looks like in the last quarter they have managed to fend it off, has that problem gone away now? i don t think it s gone away, but this set of results actually won t help the chinese investors, because they highlight the risk of commercial real estate exposure in china. detaching china from the rest of the bank wouldn t exactly help that. exactly help that. and also, china is slowing exactly help that. and also, china is slowing as - exactly help that. and also, china is slowing as an - exactly help that. and also, - china is slowing as an economy, not performing as well as many hoped this year. we had the latest numbers yesterday in terms of manufacturing performance, service sector, it s not looking good and that doesn t bode well going forward. doesn t bode well going forward- doesn t bode well going forward. ., , forward. no, they highlight some uncertainty forward. no, they highlight some uncertaint ....
Care home operations through a number it transfers money from its care home . operations through a number of different means through offshore related party transactions mostly via the cayman islands. and that includes interest payments on its debt. within three years, the £80 million debt had grown to £120 million. it s a cost paid to themselves via cayman islands structures and this is a very common private equity tactic of moving money out of the operating company and to the ultimate investors in a way that maximises their profit and limits its liabilities. hc one says the £80 million loan wasn t used to extract value overseas or deliberately reduce earnings. it says the bank wouldn t lend all the money it needed and that 15% was the market rate available at the time. it says it pays full tax in the uk and that. ....
As a quo equal branch of government can do this, end of story. now tonight there is a new angle here. the new york times reporting another institution, deutsche bank, can t comply with this kind of request if it got it because they don t have the tax returns. apparently, they got rid of them. reporter david enric talked to a former deutsche bank executive who actually reviewed donald trump s tax returns. okay, there a circumstance where the bank wouldn t hold on to this kind of thing? here is the executive s response. quote, with holy expletive, adding, quote, it could be they returned or destroyed physical copies under an agreement and cleansed servers, and that, quote, is not normal, according to his source. quite a set of developments, but the president is closer to having to cough up the returns. now let me tell you something else that we re doing that i m very excited about. the legendary director francis ford coppola is my special first time ever guest on the beat. we re goin ....
Evan perez live in washington. sounds like get out of jail free card for bankers. that s what it sounds like. we were told about this meeting a few weeks ago as sth justice department prosecutors in new york were nearing the end of the investigation into jp morgan and what it knew about bernie madoff s scam. they told they wanted assurances that the bank wouldn t be closed down and that hundreds of thousands of people wouldn t be put out of work and they couldn t get the assurances which is why you see that they ended up with the $1.7 billion settlement which is going to be restitution for the victims but seems like a slap on the wrist for the bank. in all jp morgan paid more than $14 billion in fines last year alone. how is jp morgan still a bank? and how is jamie dimon still the ceo? well, jamie dimon is very ....