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HSBC plans to buy out the remaining shares of Hang Seng Bank for HK$155 per share, delisting it and maintaining its brand. The move aims to streamline operations, address rising bad debts from Hong Kong’s property slump, and reinforce HSBC’s commitment to Hong Kong’s future as a financial hub. The deal is expected to close in mid-2026.
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As of late October 2025, Target announced plans to cut about 8% of its global corporate workforce, roughly 1,800 jobs, mainly at its Minneapolis headquarters. The restructuring aims to simplify management layers and accelerate decision-making amid stagnant sales and competitive pressures. The cuts exclude store employees and come as Target prepares for a leadership transition in February 2026.
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WPP launches a review to address declining performance, potential job cuts, and a push into AI. Aston Martin reduces investment plans and reports significant losses due to US tariffs and weak Chinese demand. Both companies are re-evaluating strategies to stabilize finances amid macroeconomic headwinds.
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Several major retailers released financial updates, revealing resilience in some sectors and challenges in others. Walmart benefits from strong holiday sales, while Kingfisher and AO World raise profit forecasts amid cautious outlooks. Advertising firms face profit downgrades due to economic headwinds. The stories reflect ongoing shifts in consumer behavior and economic pressures.