Eurostat: Luxembourg tops EU ranking for foreign-controlled enterprises

Foreign-controlled companies accounted for 88.6% of Luxembourg’s services exports in 2023, the highest share in the European Union. According to new Eurostat data, Luxembourg was followed by Ireland (79.1%) and the Netherlands (63.7%) in the share...

European auto stocks start November in the green

European markets started the new month on a positive note, with auto stocks surging 2% MoM (month-over-month). The pan-European Stoxx 600 rose 0.38%, the UK FTSE Index went up 0.2%, while Germany’s DAX and Italy’s FTSE MIB gained 0.7% each, and...

How to watch Paris Masters 2025: live stream tennis online for FREE, start time, what TV channel?" target="_self" data-before-rewrite-localise="/how-to-watch/tennis/paris-masters-2025-free

Paris Masters 2025: Monday, October 27 to Sunday, November 2 Daily start time: 6am ET / 10am GMT Free stream: France TV (France) Unlock the free stream using ExpressVPN Watch Paris Masters 2025 live streams, as Carlos Alcaraz and Jannik Sinner...

HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

HSBC has warned it could take years to finally settle a lawsuit over the Bernard Madoff Ponzi scheme, as the bank’s profits fell 14% after it took a $1.1bn (£830m) hit on the 2009 scandal. The London-headquartered bank’s finance chief issued the...

Musicians dazzle Bulgarians; Luxembourg gets new monarch

Bulgarian Music Society, young international artists, partner for fall concert On Oct. 3, the Bulgarian Embassy hosted a dynamic showcase of youth talent by the Washington International Young Artists Music Series (WIYAMS). Partnering with the...

Around 15,000 Luxembourgers: Luxembourgish families and firms find opportunity across Luxembourg's borders

More Luxembourgers are settling just across the border to escape high housing costs while continuing to work in the Grand Duchy, with both families and companies praising the space, affordability, and cross-border lifestyle. Back in 1974, there...

QSRP drives travel-related F&B growth in Europe with renewed focus on France

Chopstix strengthens London Luton Airport’s dining mix with its modern Asian-inspired menuEUROPE. Quick-service restaurant platform QSRP is extending its European footprint with a renewed focus on travel retail. With more than 80 locations across...

HSBC’s Q3 profit fell 14% to $7.3 billion due to a $1.1 billion Madoff-related legal charge

HSBC reported a 14% drop in third-quarter profit, landing at $7.3 billion before tax for the three months ending September. The hit came largely from a $1.1 billion legal provision linked to the Bernard Madoff fraud case, dragging down what was...

HSBC: FTSE 100 lender’s profit slumps as legal costs jump

Tuesday 28 October 2025 7:16 am | Updated: Tuesday 28 October 2025 7:19 am Share Facebook Share on Facebook X Share on Twitter LinkedIn Share on LinkedIn WhatsApp Share on WhatsApp Email Share on Email HSBC took a profit beat in the first quarter...

HSBC's Profit Shrinks Due to Legal Provisions

A pair of legal provisions led London-based HSBC’s profit to fall in the third quarter of this year. HSBC’s pre-tax profit for the third quarter of 2025 was $7.3 billion, according to the bank’s financial results, which was $1.2 billion lower...

HSBC profits slump 14% after Madoff legal hit

HSBC has seen its quarterly profits drop 14% after a “disappointing” 1.1 billion US dollar (£827 million) hit from a lawsuit relating to the Bernard Madoff investment fraud. The London-headquartered banking giant reported pre-tax profits of 7.3...

Hungary is the only EU state that didn't sign condolence statement on anniversary of Serbian tragedy

The EU Delegation to Serbia published a statement on its website over the weekend, in which it once again expressed its deepest condolences to the families and loved ones of those who died when the canopy of the newly renovated train station in...

HSBC Q3 profits fall as $1.1bn legal charge weighs

Pre-tax profit for the three months to September fell 14% to $7.3bn. Net interest income for the quarter rose 15% year on year to $8.8bn, driven by a 30% jump in income from its wealth division to $2.68bn. Operating expenses rose 24%, as it set...

HSBC profit falls in third quarter, hit by legal woes

HSBC's third quarter results were hit by a $1.1 billion provision related to the late Bernard Madoff's huge investment fraud. Photo: Laurel Chor / AFP/File Source: AFP HSBC reported a 14 percent drop in third-quarter pre-tax profit on Tuesday,...

North Sea oil and gas firm Petrofac files for administration putting 2,000 British jobs at risk 

A NORTH Sea oil and gas firm filed for administration yesterday, putting thousands of British jobs at risk. Petrofac employs about 2,000 people at its UK base in Aberdeen, including 1,200 offshore employees and a further 800 training and...

Ukraine Advances Agricultural Standards Alignment with EU at Luxembourg Meeting

At today’s meeting of the EU Council in Luxembourg, Ukraine’s Deputy Prime Minister Taras Kachka participated. They discussed the importance of bringing Ukraine closer to EU standards in agriculture, particularly regarding the production of plant...

HSBC to Take $1.1B Hit After Luxembourg Court Ruling in Madoff Case

HSBC Holdings said on Monday it would book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff’s Ponzi scheme, history’s biggest ever such fraud. HSBC acted as a...

Boosting Business Efficiency with Artificial Intelligence: From Data to Decisions

In the fast-paced world of business today, companies are under constant pressure to enhance productivity and adapt swiftly to changes in the market. The rise of artificial intelligence technologies has created new opportunities for companies to...

International protection: Voluntary return should be addressed earlier in asylum process, says Home Affairs Minister

Luxembourg’s Minister for Home Affairs Léon Gloden said that discussions about voluntary return should take place earlier in the asylum-seeking process in the future. The rework will be at the core of the new conceptualisation for voluntary...

This AI is combating money laundering and keeping out Russian oligarchs

Banks and financial institutions are facing a rising tide of fraud and money laundering, and a growing pressure to keep up with tightening financial regulations. Despite increasing spending by up to 10 per cent a year in some advanced markets...