Bloomberg Daybreak: Europe Edition HSBC Misses, UBS Beats, Santander Record, Tsunami Warning, China’s $167B Dam
Jul 30, 2025
Chloe Mele, a Bloomberg earnings reporter, dives into the latest financial headlines. HSBC's earnings disappoint, raising questions about their increased expenses and Chinese bank holdings. Meanwhile, Santander celebrates a record profit and substantial stock buyback. The conversation threatens to overshadow urgent tsunami warnings for Hawaii and California, sparked by a powerful earthquake in Russia. Also on the table are U.S.-China tariff negotiations dangling on a knife-edge, highlighting the fragile state of global trade relations.
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HSBC's Profit Miss Causes
- HSBC's profit miss in Q2 was due to increased expenses and a $2.1 billion charge on its Chinese bank holding.
- CEO Georges Elhedry is pushing a costly restructuring as part of simplifying HSBC's global network.
UBS Beats on Technical Gains
- UBS beat Q2 profit expectations mainly via technical gains and steady investment bank results.
- Cooling trade tensions boost investor readiness to deploy capital, signaling potential growth.
Santander's Record Profit and Buyback
- Santander posted record Q2 profit matching estimates and announced a 1.7 billion euro buyback.
- The bank's good performance reflects strong net interest, fees, and lower costs and provisions.