China's Ping An Insurance Group defended its call to spin off HSBC's Asia business, saying it cared about investment returns from its large stake in Europe's biggest bank but was not an activist investor.

Britain's private sector slowed to a crawl in August as factory output fell and the larger services sector eked out only a modest expansion, adding to signs that recession may be looming, a closely watched survey showed on Tuesday.

This offer is limited to one payment per customer and the money will be credited within 28 days.

The Bank of England will deliver another bumper 50 basis points (bps) increase to borrowing costs next month but then slow the pace to a more regular 25 basis point rise in November before pausing, a Reuters poll forecast.

Chinese insurer Ping An Insurance Group believes HSBC has overstated the challenges and difficulties of spinning off the bank.

The Bank of England would press on with plans to gradually sell its vast stock of British government bonds even if an economic slowdown eventually forces it to cut interest rates, Deputy Governor Dave Ramsden said.

HSBC has appointed Patrick Boumalham as its new global head of wealth sales within its markets division.

Britain's financial watchdog said on Tuesday that the cost of living crisis, meeting climate targets and improving diversity should be reflected in how banks determine pay and bonuses.

HSBC bank on Monday said pre-tax profit fell in the first half, and appeared to rebuff calls to spin off its Asian activities on the eve of a key shareholder meeting.

HSBC pushed back on a proposal by top shareholder Ping An Insurance Group Co of China to split the lender.

Some investors want Russian gold off their books but it's not that easy to remove.

European shares edged up on Monday as a jump in banking stocks after HSBC's strong results offset fears of a global economic slowdown.

Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices.

British financial regulators will have to promote the global competitiveness of the country's financial sector, though a plan for more government oversight of their work has been put on hold for now, finance minister Nadhim Zahawi said on Tuesday.

Asian companies are likely to find it harder to refinance dollar-denominated debt, the decline in a key metric suggests, with the currency at a two-decade high and a recent surge in inflation forcing central banks to raise interest rates.

The fund management arms of HSBC and Morgan Stanley were among three others to win a mandate from Taiwan's largest pension manager to run Asia's first climate change-focused fund worth a total $2.3 billion in assets.

British finance minister Rishi Sunak has toughened his language towards Bank of England Governor Andrew Bailey, a reflection of the political pressure piling on them both as inflation surges towards double digits.

Japan's government bond market is being pushed to breaking point in a contest between foreign speculators and the Bank of Japan, creating challenges for loan pricing and bond sales and raising the prospect of government financing tangles down the track.

The Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer "too big to fail" in any future crisis, though it found shortcomings at three major banks.

The company attributes its profitability to "improved product portfolios and more efficient internal operations"

Almost 80 percent of City workers plan to be back in the office from September

Her arrest in December 2018 during a stopover in Vancouver caused a deep diplomatic rift between Ottawa and Beijing

Meng remains under house arrest in her Vancouver mansion. Her extradition trial will resume on Wednesday and is scheduled to wrap up in mid-May, barring any appeals.

Analysts say inflation could bound higher later this year, powered by pent-up consumer demand once lockdowns start easing, particularly in travel and dining out.

One of the first direct consequences of Brexit, the move by UK lenders to shut expat services is said to affect tens of thousands of people across Europe.

Asian markets were mostly in positive territory.

There are eight contenders for the director general of World Trade Organization as Roberto Azevedo steps down on Monday.

The mood in Asia was more downbeat compared with earlier in the week.

With one eye on developments on Capitol Hill, Asian equities were moving in and out of positive territory.

HSBC's announcement angered business and political circles in Britain, which returned the former colony to Chinese rule in 1997.