News Snapshot:
News HSBC faces months of turmoil from Ping An push for Asian spinoff Insurer urges radical change but bank says a break-up could risk Hong Kong’s future 11 August 2022 - 16:46 Denise Wee Picture: REUTERS/BRENDAN MCDERMID Ping An Insurance Group is not convinced by HSBC’s case against a proposed spinoff of its Asia operations, arguing the lender is in need of urgent and radical change, according to a person familiar with its views. The insurer estimates a spinoff would generate additional market value of $25bn to $35bn, release $8bn in capital requirements, and save on headquarter and infrastructure costs,...
