$HSBC

UK Chancellor John Healey may increase taxes on banks in the 28 October budget to offset public finance damage from Middle East war, according to the Guardian. The bank surcharge could rise from 3% to 8%, raising £2.25bn annually. Banks like HSBC, NatWest, Barclays, and Lloyds have opposed the move, warning of potential job and business relocations. Healey aims to balance deficit reduction while supporting economic growth.

HSBC's Michael Roberts predicts AI agents will trade bonds within 2-4 years, leveraging quantum computing. AI, quantum tech, and distributed ledger tech will transform trading speed and scope. HSBC may cut 10% of its workforce as AI automates tasks. Rising interest rates and high bond yields increase capital costs for AI infrastructure, which PwC estimates could reach $8.2 trillion in Asia by 2050.

HSBC cut mortgage rates by up to 0.14%, reintroducing sub-5% rates. Two-year fixed rates now start at 4.96% for home movers and 4.93% for Premier customers. Five-year fixed rates also dropped below 5%, with the lowest at 4.96% for Premier. Remortgage rates and first-time buyer products saw reductions as well.

HSBC's board will meet on 27 Oct 2026 to review Q3 results and consider a dividend, with a potential pay date of 17 Dec 2026. The company reported crossing a voting-rights threshold in Informa PLC. HSBC also acted as sole lender for Qatar Airways' JOLCO financing for Boeing 787-9 Dreamliners.

HSBC has introduced Portfolio+, a discretionary portfolio management service for retail investors in Hong Kong. The service requires a minimum investment of HK$1,000 per month or a lump sum of HK$10,000. It targets younger, tech-savvy customers, offering them the ability to invest in portfolios aligned with their risk preferences or themes like green concepts. The bank will manage and rebalance these investments according to its house view.

India's retail inflation rose to 5.5% in September, up from 4.8% in August, according to HSBC. The bank expects CPI to average 6% in Q4 2026 and forecasts a 25 basis point rate hike in December, with a risk of another hike later. HSBC notes inflation is spreading across the basket, with food prices being the main driver. If inflation remains elevated, the Reserve Bank of India may implement further rate hikes, potentially supporting the rupee.

HSBC Holdings PLC reported a change in its holdings of Informa PLC, crossing a threshold on October 8, 2026. The notification was issued on October 12, 2026, detailing the voting rights and financial instruments held. The disclosure was made in accordance with regulatory requirements.

HSBC, Accenture, Disney India, Honeywell, and Booking.com are expanding office spaces in Bellandur, Bengaluru, along the Outer Ring Road. HSBC leased 12 lakh sq ft, Accenture 5.67 lakh sq ft, Disney 1.75 lakh sq ft, Honeywell 3.99 lakh sq ft, and Booking.com 1.11 lakh sq ft. These leases may boost local property prices, with Bellandur's average flat price up 16.5% in the past year.

HSBC plans to shift to a Wall Street-style bonus structure for senior staff, phasing out fixed pay allowances. This follows the UK government's removal of post-financial crisis bonus restrictions. Similar moves have been made by Barclays, and the change is expected to be well-received by employees, potentially aiding talent attraction in the UK.

HSBC and Ant Digital Technologies completed a test using AI agents to pay for digital services with tokenized deposits on the Jovay blockchain. The test involved micropayments under $2, with real-time settlement, combining HSBC's banking infrastructure and Ant's blockchain network. The companies demonstrated a potential framework for AI-driven payments, though commercial viability remains unproven.