BLOOMBERG HSBC Holdings Plc’s acquisition of Silicon Valley Bank’s UK arm made “great sense” from a business perspective and had nothing to do with pressure from regulators, according to Antony Shaw, chief executive officer of the bank’s Australia unit. “It’s an opportunity that doesn’t come along very often,” Shaw said via video from Hong Kong at an AFR banking summit. ...

BLOOMBERG French banks including Societe Generale SA and BNP Paribas SA face collective fines of more than 1 billion euros ($1.1 billion) as part of a probe into tax fraud and money laundering related to dividend payments. HSBC Holdings Plc, Natixis SA and BNP’s Exane unit are also part of the investigation, according to the prosecutors’ office in Paris, which ...

ABU DHABI / GULF TIME Khalifa Saif Almuheirbi, Chairman of the Arabian Gulf Investments Company, affirmed that the cabinet’s decisions approving 24 national initiatives to double re-exports from the UAE by 100% will contribute to strengthening the country’s economic position and placing it among the global countries. Almuheirbi stated that considering the year 2023 the strongest economically shows the huge ...