let s get down to business. hsbc has just reported a 92% surge in quarterly profit. rising interest rates helped to swell its net interest income. europe s largest bank that s headquartered in london said pre tax earnings ringed in at $5.2 billion for the fourth quarter that s better than expected and up from $2.7 billion the year before. but it s biggest shareholder, ping an insurance of china, is putting pressure on the board to pivot further east. that s one of the challenges facing hsbc. let s discuss this with will walker arnott, senior investment manager, charles stanley good morning. talk about numbers. shareholders will benefit. hsbc did well in the last quarter- benefit. hsbc did well in the last quarter. yes, benefit. hsbc did well in the last quarter. yes, strong - last quarter. yes, strong results which would have pleased the market and beat expectations, as outlined. gather up 30% over last year, and the results explain why. what strip on the results, first
austin, bbc news. let s get some of the day s other news. it was not a good and the air for bhp. and of the year. bhp, the world s largest mining company has reported revenues 16% lower revenues for the six months ending 31 december, compared to the same period a year ago. pre tax profit fell 30% to $10.2 billion. bhp says it expects china and india to boost demand for its commodities in the year ahead poor weather in europe and africa has disrupted supplies of some fruit and vegetables to uk supermarkets, including tomatoes, cucumbers, and peppers. the british retail consortium said that harvests had been hit by difficult weather conditions . numerous pictures of empty shelves in supermarkets have been circulating on social media in the uk in recent days. stay with us on bbc news. still to come: working four days a week on full pay boosts business. the results from a comprehensive study are out. prince charles has
headquarters in the east, hong kong and china and once much more of its strategy based in china. the alan mak this goes back to 2020 when ceo announced he would pivot the business towards asia. ping an insurance, the largest shareholder of hsbc wants the company to go further and higher profits made on operations to a separate company. if you read the statement today they remain committed to the global and think the whole bank benefits from its global infrastructure. no doubt they will still increase their business in asia which currently accounts for about 55% of revenue but it looks like they ll resist the aims of ping an insurance to hive off into a separate business. how will it work for the ceo, chairman, the board, it s not an easy path to follow when your biggest shareholder is clearly wanting something else. it is clearly wanting something else. , , , else. it is, but they were re else. it is, but they were pretty strong else. it is, but they were pretty strong in - else. it
showing you on wall street. up to date on all things business, news and sport. i will you soon. hello, there. gales to begin with on monday, warmth to finish it. in fact, it was a very mild day, pretty much across the country, but highs of 17 celsius recorded in east anglia, 63 fahrenheit. the average for this time of year across the country, generally around eight degrees. now, we do have these weather fronts across the far north, which are bringing outbreaks of light rain. but this milder air sandwiched between those two weather fronts is what s known as a broad, warm sector, and it can often at this time of year bring a lot of clouds. so, it s going to be a grey start, but an incredibly mild start, first thing on tuesday morning. here s the rain from those weatherfronts, then, pushing out of the western isles up into the northern isles. not as windy as monday morning, but a noticeable breeze, and the cloud always thick enough for a spot or two of drizzle.
let s get down to business. hsbc has just reported a 92% surge in quarterly profit. rising interest rates helped to swell its net interest income. europe s largest bank that s headquartered in london said pre tax earnings ringed in at $5.2 billion for the fourth quarter that s better than expected and up from $2.7 billion the year before. but it s biggest shareholder, ping an insurance of china, is putting pressure on the board to pivot further east. that s one of the challenges facing hsbc. let s discuss this with will walker arnott, senior investment manager, charles stanley good morning. talk about numbers. shareholders will benefit. hsbc did well in the last quarter-