Latest news with #HSBC
Yahoo
12 minutes ago
- Business
- Yahoo
Apple (AAPL) Stock Rated Hold as HSBC Flags AI Letdown and Tariff Risks
Apple Inc. (NASDAQ:) is one of the . On July 18, HSBC maintained a 'Hold' rating on the stock with a $220 price target. The firm has quoted a '5% regulatory discount' and warned that tariff and legal uncertainties may limit near-term upside. HBSC analysts claim that Apple's AI efforts for driving hardware upgrades through artificial intelligence have been falling short. Therefore, it needs a more compelling AI experience to revive AI sales. 'The iPhone still represents about half of Apple's sales,' HSBC wrote. But 'initial hopes that AI would accelerate the renewal cycle have been short-lived.' According to the bank, Apple Intelligence has 'so far failed to trigger significant improvement in user experience.' A delayed AI-powered Siri implies users may be delaying iPhone upgrades, which is why the company is relying on hardware upgrades to boost demand. 'Better specs with iPhone 17 in September should entertain the demand, in-line with what has been seen with the iPhone 16.' Tariffs are also a major concern for the company. The firm believes that the company 'cannot re-localise production fast enough to avoid U.S. tariff hikes.' Apple is a technology company known for its consumer electronics, software, and services. While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Sign in to access your portfolio
Yahoo
4 hours ago
- Business
- Yahoo
HSBC Heaps Praise on Burberry, Says Focus on Outerwear, Authenticity Is Working
— HSBC has gone bullish on Burberry with a glowing report about the company's prospects under chief executive officer Josh Schulman, who's been in the job for little more than a year. 'The question for us is not whether Burberry will come back, but the magnitude to which it will, and how much investors are ready to pay for it,' the bank said in a report on Tuesday, two days after Burberry posted promising first-quarter results. More from WWD Queen Elizabeth's Wardrobe, From Birth Through the Jubilee Years, Will Go on Display in London in 2026 Dior Lucky Pop-up Opens at Harrods With a Shower of Stars and Four-leaf Clovers With Sales Improving Worldwide, CEO Josh Schulman Is Bullish on the Future of Burberry As reported, in the three months to June 30 Burberry stemmed the double-digit sales declines of past months, and outstripped analysts' expectations for growth. The British brand reported 433 million pounds in retail revenue, with comparable store sales down 1 percent versus 21 percent in the corresponding period last year. HSBC called its report 'Knight Fever,' in reference to Burberry's historic logo and the Bee Gees disco hit, and said the brand 'has suddenly gone onto the radar of many consumers who may have forgotten about [it], and others who are just starting to discover it.' The bank added that with the impetus of a renewed management team and actions taken by Schulman, 'product initiatives, media campaigns and merchandising actions have landed well. Is Burberry booming yet? Not really, as the bulk of refreshed products should start to move the needle significantly' in the second fiscal half, which ends in March 2026. The bank also believes Burberry's 1 percent decline in like-for-like sales will look good in comparison to what fashion and luxury competitors serve up in the coming weeks when they report quarterly earnings. 'There are clear signs of life. Naysayers wondering if the brand could ever come back already have a hint, and should get proof shortly, as we believe growth should be visible as early as the current quarter,' HSBC said. The bank also praised Schulman's focus on brand 'authenticity,' and said competitors should take a closer look at his strategy. 'As premium European brands struggle from a lack of creativity and greedflation — prices are difficult to justify — they have undoubtedly lost in authenticity and appeal. Burberry used its outlet network swiftly to help move products from an overpriced, handbag-focused approach to go back to basics [that are] well-priced, authentic, outerwear-focused,' HSBC said. It added that Burberry, Coach, Ralph Lauren and Longchamp 'are seemingly benefiting greatly from the white space created by premium luxury brands being out of reach for many aspirational consumers.' HSBC also noted that Burberry's share price is up 75 percent since Schulman's arrival, and added it expects 'upward revisions' on the shares from other banks. Following the HSBC report on Tuesday morning, Burberry's shares were broadly flat at 12.99 pounds. HSBC isn't the only financial institution that's upbeat on Burberry. Earlier this week, Wan Nurhayati, equity analyst at CFRA Research, said: 'We continue to see potential recovery [in fiscal 2025-26] from the turnaround strategy and expect the market to focus on the progress of 'Burberry Forward,' including the decision to focus back on outerwear and cost savings.' Nurhayati added that Burberry has committed to deliver 'better margins with continued focus on simplification and productivity, while remaining on track to deliver 80 million pounds in annualized savings' by the end of the current fiscal year. Best of WWD What the Highest-paid CEOs at U.S. Fashion and Retail Companies Make The Definitive Timeline for Sean 'Diddy' Combs' Sean John Fashion Brand: Lawsuits, Runway Shows and Who Owns It Now Confidence Holds Up, But How Much Can Consumers Take? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
5 hours ago
- Business
- Time of India
LIV Golf's revenue soars 10x as league heads to UK's JCB Golf & Country Club, as per CEO Scott O'Neil
LIV Golf CEO Scott O'Neil (Image Source: @flushingitgolf/X) LIV Golf is making waves as it heads into its UK event at JCB Golf & Country Club, with exciting news about its financial growth. "LIV Golf CEO Scott O'Neil just said that their contract revenue from financial partnerships has gone up by 10x year over year!' This bold claim, shared at a press conference and posted on X by Flushing It on July 23, 2025, highlights the league's rising success. With major partners like HSBC and a new Fox Sports TV deal, LIV Golf is growing fast. How is LIV Golf achieving massive revenue growth? LIV Golf is earning a lot more money, says CEO Scott O'Neil, who started leading the league in January 2025. His statement about a tenfold increase in partnership revenue, posted on X by Flushing It, shows how popular LIV Golf is becoming. Big companies like HSBC, which supports the 14-event season, and Saudi Arabia's ROSHN Group are helping drive this growth. — flushingitgolf (@flushingitgolf) Other partners, like Salesforce, PING, Aramco, Madden, Riyadh Air, and UNHCR, are making LIV Golf more known worldwide. These deals help the league attract new fans and grow bigger. O'Neil's past work with the Philadelphia 76ers and Merlin Entertainments is helping LIV Golf sign important contracts. His ideas are bringing in younger fans and more businesses. This huge money increase shows LIV Golf is now a big name in professional golf. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo Even with talks ongoing with the PGA Tour, O'Neil is hopeful about LIV Golf's future. Fans are excited to see how this money boost will make the LIV UK event even more special. Also Read: The Open 2025: Imperious Scottie Scheffler surges into lead at halfway mark What makes the LIV UK event at JCB Golf & Country Club exciting? LIV-Golf UK will take place in JCB Golf and Country Club, Great Britain, and play benevolently gumball on 25-27 July 2025. Robin Hiseman designed the 240-acre course and included such grueling holes as the par-4 1st, which has water, and the downhill par-3 9th. The last hole has hazards and bunkers that prove to be challenging to players. The event offers $25 million in prizes, with $20 million for the individual competition and $5 million for the team event. The top player will win $4 million, and the winning team will get $3 million. Jon Rahm, who won last year, and his team, Legion XIII, are back to defend their titles. Each day starts with a shotgun start at 1:05 PM BST, and gates open at 10:00 AM. Fans can enjoy a Kygo concert on Saturday and a big ceremony on Sunday. New TV deals with ITVX in the UK and Fox Sports in the US aim to reach more viewers. Even though only 40,200 people watched the US broadcast in February 2025, O'Neil is confident more will tune in. LIV Golf's big money news and exciting LIV UK event show the league is growing stronger. O'Neil's plans are helping LIV Golf attract more fans and become a major name in golf. For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
The Irish Sun
6 hours ago
- Business
- The Irish Sun
Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment
A DRAGON'S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion. Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home - despite receiving a £75,000 investment during his stint on the BBC show. 6 Beardsell received £75,000 in investments after appearing on Dragon's Den Credit: Cavendish 6 The British world sprinting champion illegally pocketed two Covid Bounce Back business loans to buy himself a £1.8m mansion Credit: Cavendish 6 Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two Credit: Cavendish The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire. Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times. It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business , ShakeSphere. Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business. Read more in TV Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000. "But unaudited financial statements showed turnover for the year end February 2020 was £20,622. ''The turnover was clearly exaggerated to secure the maximum bounce back loan. Most read in News TV "Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.'' The money arrived in Sports Creative's account in January 2021, but then almost £400,000 was transferred to Beardsell's personal Santander account in the space of six months. Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster. Mr Whelan added: ''In effect the bounce back loan funds had been used for this purchase. Shocking moment Dragons' Den winner Ross Mendham smashes £100k Ferrari after ploughing into bike racks in city centre "It can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it." Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud. In October 2024, he attended an interview under caution at the Insolvency Services offices. In a statement he said: ''The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company. ''At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. "The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.'' Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks. She said: ''The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. "These offences were out of character and were committed four years ago. "He has taken responsibility and repaid the money back. He knows that it's his own fault. "He has brought shame on his family and brought shame on himself. ''His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant." The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans. Ms Cafferkey continued: "A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. "The chemotherapy was successful but led to some significant side effects. ''One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 6 Beardsell was sentenced to 18 months in prison, suspended for two years Credit: Cavendish 6 Hundreds of thousands of pounds were transferred to a firm of solicitors for the purchase of Holly House Credit: Cavendish "The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. "On top of that there are ongoing knee pains associated with his athletic success at national and international level. "He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions. "The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia. "This will be the only time that Richard Beardsell appears before the court." Beardsell was sentenced to 18 months in prison, suspended for two years. He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70. Judge Simon Berkson told Beardsell: "You fraudulently lied and lied again in your applications for these loans. "They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. "This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. "People were in lock down, people were dying and people were very ill at the time when people required their public services. "You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. "You are a generally successful man both in business and in sports, particularly your involvement with athletics. "You continue to run your business and it was on the TV programme Dragons' Den. "You are a married person with two children and they are young children. You have survived an aggressive form of cancer. "I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.'' 6 He was ordered to complete 250 hours of unpaid work and pay costs of £11,142.70 Credit: Cavendish
Scottish Sun
6 hours ago
- Business
- Scottish Sun
Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment
None of the money he applied for went towards his business STAR JAILED Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A DRAGON'S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion. Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home - despite receiving a £75,000 investment during his stint on the BBC show. Sign up for the Entertainment newsletter Sign up 6 Beardsell received £75,000 in investments after appearing on Dragon's Den Credit: Cavendish 6 The British world sprinting champion illegally pocketed two Covid Bounce Back business loans to buy himself a £1.8m mansion Credit: Cavendish 6 Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two Credit: Cavendish The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire. Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times. It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business, ShakeSphere. Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business. Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000. "But unaudited financial statements showed turnover for the year end February 2020 was £20,622. ''The turnover was clearly exaggerated to secure the maximum bounce back loan. "Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.'' The money arrived in Sports Creative's account in January 2021, but then almost £400,000 was transferred to Beardsell's personal Santander account in the space of six months. Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster. Mr Whelan added: ''In effect the bounce back loan funds had been used for this purchase. Shocking moment Dragons' Den winner Ross Mendham smashes £100k Ferrari after ploughing into bike racks in city centre "It can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it." Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud. In October 2024, he attended an interview under caution at the Insolvency Services offices. In a statement he said: ''The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company. ''At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. "The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.'' Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks. She said: ''The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. "These offences were out of character and were committed four years ago. "He has taken responsibility and repaid the money back. He knows that it's his own fault. "He has brought shame on his family and brought shame on himself. ''His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant." The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans. Ms Cafferkey continued: "A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. "The chemotherapy was successful but led to some significant side effects. ''One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 6 Beardsell was sentenced to 18 months in prison, suspended for two years Credit: Cavendish 6 Hundreds of thousands of pounds were transferred to a firm of solicitors for the purchase of Holly House Credit: Cavendish "The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. "On top of that there are ongoing knee pains associated with his athletic success at national and international level. "He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions. "The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia. "This will be the only time that Richard Beardsell appears before the court." Beardsell was sentenced to 18 months in prison, suspended for two years. He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70. Judge Simon Berkson told Beardsell: "You fraudulently lied and lied again in your applications for these loans. "They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. "This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. "People were in lock down, people were dying and people were very ill at the time when people required their public services. "You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. "You are a generally successful man both in business and in sports, particularly your involvement with athletics. "You continue to run your business and it was on the TV programme Dragons' Den. "You are a married person with two children and they are young children. You have survived an aggressive form of cancer. "I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.''
