HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

The Guardian•Tuesday, October 28, 2025 at 8:47:58 AM

HSBC has announced that it may take years to resolve a lawsuit related to the Bernard Madoff Ponzi scheme, resulting in a significant $1.1 billion financial hit for the bank. This situation is concerning as it has led to a 14% drop in profits, highlighting the ongoing impact of the scandal on the bank's financial health. The prolonged legal battle not only affects HSBC's bottom line but also raises questions about the broader implications for the banking industry and investor confidence.

— Curated by the World Pulse Now AI Editorial System

Read Original

Was this article worth reading? Share it

Recommended Readings

Investing.com5 hours ago

FTSE 100 today: Index rises as Europe slips, pound weakens; HSBC gains

PositiveFinancial Markets

Today, the FTSE 100 index has seen a rise, contrasting with a slip in European markets and a weakening pound. This uptick is significant as it highlights the resilience of the UK stock market amid broader economic challenges in Europe. HSBC's gains contribute positively to this trend, suggesting investor confidence in the banking sector. Such movements can influence investment strategies and economic outlooks, making it a noteworthy development for both investors and analysts.

Read full article

via Investing.com

Bloomberg6 hours ago

Nigeria Firms Seen Mending Balance Sheets as Profits, Economy Recover

PositiveFinancial Markets

Nigeria's companies are on the path to recovery, with renewed profits allowing them to rebuild their balance sheets and drive growth after a challenging 2024. This positive shift is significant as it indicates a strengthening economy and the potential for increased investment and job creation, which can benefit the broader community.

Read full article

via Bloomberg

Investing.com8 hours ago

SoFi Q3 2025 presentation: Record revenue and profits as fee-based income surges

PositiveFinancial Markets

SoFi has reported record revenue and profits for Q3 2025, driven by a significant surge in fee-based income. This impressive financial performance highlights the company's successful strategies and growth in the competitive fintech landscape, making it a noteworthy player in the industry. Investors and stakeholders will be keen to see how this momentum continues as SoFi expands its services and customer base.

Read full article

via Investing.com

Investing.com9 hours ago

Earnings call transcript: Orion's Q3 2025 performance boosts profits

PositiveFinancial Markets

Orion's recent earnings call revealed impressive performance in Q3 2025, significantly boosting profits. This positive financial outcome not only reflects the company's strong operational strategies but also positions it favorably in a competitive market. Investors and stakeholders are likely to view this as a sign of growth and stability, which could enhance confidence in Orion's future prospects.

Read full article

via Investing.com

The Wall Street Journal10 hours ago

SoFi Raises Full-Year Profit Outlook as Membership Balloons

PositiveFinancial Markets

SoFi Technologies is optimistic about its future, raising its profit outlook for 2025 as its membership continues to grow. This surge in customers not only reflects the company's successful strategies but also indicates a strong demand for its services, which could lead to increased market presence and financial stability.

Read full article

via The Wall Street Journal

The Guardian11 hours ago

Is London’s next superclub this warehouse by a sewage works in Barking?

PositiveFinancial Markets

Eutopia, a new 4,000-capacity nightclub in Barking, is generating excitement among clubbers despite its unconventional location near a sewage works. Owned by experienced club veterans, it promises to be a vibrant addition to London's nightlife scene. With challenges like inflation and licensing affecting many venues, Eutopia's opening is a hopeful sign for the future of club culture in the city, as enthusiasts are willing to travel for a unique experience.

Read full article

via The Guardian

Investing.com12 hours ago

HSBC Q3 2025 slides: Revenue growth continues as bank upgrades guidance

PositiveFinancial Markets

HSBC has reported continued revenue growth in its Q3 2025 results, prompting the bank to upgrade its financial guidance. This positive trend reflects the bank's strong performance in a competitive market and suggests a robust recovery in the financial sector. Investors and stakeholders will be keen to see how this growth trajectory impacts future strategies and overall market confidence.

Read full article

via Investing.com

Investing.com13 hours ago

Earnings call transcript: HSBC Q3 2025 shows revenue growth, strategic shifts

PositiveFinancial Markets

HSBC's Q3 2025 earnings call revealed impressive revenue growth and significant strategic shifts, highlighting the bank's adaptability in a changing financial landscape. This matters because it showcases HSBC's resilience and ability to capitalize on emerging opportunities, which can instill confidence among investors and stakeholders.

Read full article

via Investing.com

Latest from Financial Markets

The Wall Street Journal8 minutes ago

Basic Materials Roundup: Market Talk

NeutralFinancial Markets

In the latest Market Talks, insights on Posco Holdings and Nucor provide a glimpse into the current state of the basic materials sector. This information is crucial for investors and industry stakeholders as it highlights trends and developments that could impact market dynamics.

Read full article

via The Wall Street Journal

The Wall Street Journal9 minutes ago

Auto & Transport Roundup: Market Talk

NeutralFinancial Markets

In the latest Market Talks, insights are shared on key players in the auto and transport sector, including JetBlue Airways and Avis Budget Group. This information is crucial for investors and industry watchers as it highlights trends and developments that could impact market dynamics.

Read full article

via The Wall Street Journal

The Wall Street Journal11 minutes ago

Tech, Media & Telecom Roundup: Market Talk

NeutralFinancial Markets

In the latest Market Talks, insights on companies like Reddit and Life360 are shared, providing a glimpse into the current trends in the technology, media, and telecom sectors. This information is valuable for investors and industry enthusiasts looking to understand market dynamics and make informed decisions.

Read full article

via The Wall Street Journal

Financial Times11 minutes ago

Israel launches strikes on Gaza after accusing Hamas of ceasefire violations

NegativeFinancial Markets

Israel has initiated airstrikes on Gaza, citing violations of a ceasefire by Hamas. This escalation comes amidst accusations from Palestinian militants denying involvement in a recent attack in Rafah and delays in the release of hostage remains. The situation is critical as the peace accord appears to be unraveling, raising concerns about further violence and instability in the region.

Read full article

via Financial Times

Investing.com12 minutes ago

Varonis Systems shares plummet 31% as Q3 results, guidance disappoint

NegativeFinancial Markets

Varonis Systems has seen its shares drop by a staggering 31% following disappointing Q3 results and guidance. This significant decline reflects investor concerns about the company's future performance and profitability, highlighting the challenges it faces in a competitive market. Such a sharp fall in stock price can impact investor confidence and the company's ability to attract new capital, making it a critical moment for Varonis.

Read full article

via Investing.com

Investing.com13 minutes ago

First Commonwealth Financial earnings missed by $0.02, revenue fell short of estimates

NegativeFinancial Markets

First Commonwealth Financial reported earnings that fell short by $0.02, alongside a revenue that did not meet expectations. This news is significant as it reflects the company's current financial challenges and may impact investor confidence moving forward.

Read full article

via Investing.com