Crisis. The Prime Minister is underestimating the threat. He meets with the french president today. Manus a warm welcome to daybreak europe. This thursday morning. A warning from Standard Charter, its going to be a tough year to make 10 return on equity. For your profit for 2019, 4 . 2 billion. The market penciled in for . 3 billion. But we are giving you Share Buybacks, half billion dollar inner share about that. Hsbc didnt give you a Share Buyback, but we will do a buyback and come back and review that once weve completed the the year. In so it is a delay to the return on equity. 2020 will be below the midterm target. What is it mean for structural review . Those are the headlines, a buyback, a warning, and amiss. A trifecta of news to digest. Cfo is inrd charter the green room. Dont miss the conversation. Nejra, good morning. Nejra ive got abs numbers hitting the tape right now. Fourth quarter granik revenue up 2. 5 . The estimate was 2. 6 . Fourth quarter adjusted ebitda down 5. 5
Jerome powell was on capitol hill to update lawmakers on the economy and Monetary Policy. He spoke about the Economic Impact of the coronavirus, Cyber Threats in the Banking Sector and his influence in the Global Economy among other topics. This services hearing is three hours. I now recognize myself for four minutes to give an Opening Statement. Id like to welcome back chairman powell. As i discussed earlier, and at our last hearing with you, i remain very concerned about the president s efforts to interfere with the feds interMonetary Policy. A recent news story noted that trump has tweeted over 100 times about your nomination. Many of those tweets appear to be attempting to exercise pressure on the fed. Chairman powell, you and the fed board of governors must not be swayed by these aggressive tactics. Fedsolding the independence, you should also be mindful of public perception. Of course, trump continues to claim credit for Economic Growth that was put in motion by the policies of p
Secretary Steven Mnuchin on the u. S. Economy and Financial Stability. He talks about Digital Currency, World Bank Lending at the potential impact of Climate Change. Ready to go . The committee will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations regular approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 p. M. Per the request of the secretary. I now recognize myself for four minister give an opening statement. So let me welcome back secretary mnuchin. Today we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As ive said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following that te dereg
Lisa lee. Lets begin with sonali. Wework, not surprisingly, continues. There is a question of who will finance this company and softbank takes control. Trying to get a loan deal done but there is something unique. Please explain. Sonali softbank said we work as the coborrower here. Softbank had become intertwined since they got into this deal. Softbank has been emerging as somebody that banks want to work with, despite the troubles that have happened, they are seeing portfolio companies, something to look out for next year is doordash. Also a Portfolio Company in the vision fund, working with j. P. Morgan for a Credit Facility here. Lisa softbank is listed as the main borrower. I found this fascinating. They are putting their own money and name on the block here. How much of a liability is this for softbank in a broad sense . And isolated case of them bringing it into their purview . Are they going to bring other portfolios in . Sonali we work is a oneoff given how far it has fallen fr
Sconces willt of break records in sales. Sonali basak, natalie wong and lisa lee. Lets begin with sonali. There is a question of who will finance this company and as softbank takes control. Goldman sachs trying to get a loan deal done but there is something unique. Please explain. Sonali softbank said we work as the coborrower here. Softbank and we work had become intertwined since they got into this deal. Softbank has been emerging as somebody that banks want to work with, despite the troubles that have happened, they are seeing portfolio companies, something they have a big Portfolio Company. Something to look out for next year is doordash. Also a Portfolio Company in the vision fund, working with j. P. Morgan for a Credit Facility here. Lisa softbank is listed as the main borrower. They are putting their own money and name on the block here. How much of a liability is this for softbank in a broad sense . Case ofk in isolated this coming into their purview . Are they going to bring o