Why are banks flying out gold from London to New York?
The US bank JPMorgan and the UK’s HSBC are reportedly shifting gold bars from London to New York. About 8,000 gold bars are estimated to have been removed from the Bank of England’s vaults over the ...
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HSBC sees $1.8 billion in revamp related costs as new CEO looks to boost returns
HONG KONG, Feb 19 (Reuters) - HSBC (HSBA.L), opens new tab expects to incur $1.8 billion in expenses by the end of next year related to an overhaul initiated by its new CEO to cut long-term costs ...
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Why London’s Gold Vaults Are Emptying as Banks Rush Bullion to New York
The movement, led by banks like JPMorgan Chase and HSBC, follows speculation that former ... institutions extract bullion from underground vaults to take advantage of the price differential.