Latest news with #VivekRamachandran
Yahoo
24-05-2025
- Business
- Yahoo
HSBC's Ramachandran: Tariff Shifts a Completely New Playbook
HSBC's Global Head of Trade Solutions, Vivek Ramachandran discusses how tariffs have changed global trade. "No one expects the world to go back", he says, as business reshape and change their models and supply chains. Ramachandran speaks exclusively on "The Opening Trade" on Bloomberg Television.
RTÉ News
23-05-2025
- Business
- RTÉ News
Global companies rethinking strategies amid tariffs, trade policies
New research suggests global companies are rethinking their strategy and planned investments, as tariffs and shifting trade policies continue to impact their business. HSBC's 2025 Global Trade Pulse Survey captures the views of 5,700 international firms across 13 markets. Two thirds of those surveyed have already experienced cost increases due to tariff and trade uncertainty. Over 70% said they expect costs to escalate further in the short and long-term. Businesses also expect an average decline in revenues of 18% due to supply chain delays. Over half of respondents feel rising costs are the number one concern for supply chain strategies . Meanwhile, 85% have revised or plan to revise their pricing strategy upwards to reflect higher costs or market changes. Despite the uncertainty, almost 90% of businesses are confident about their ability to grow international trade over the next two years. "The current landscape of tariffs and trade uncertainty presents significant challenges for businesses, but they are showing great resilience and adaptability in the way they operate," said Vivek Ramachandran, Head of Global Trade Solutions at HSBC. "With over 70% of companies anticipating sustained cost increases, and businesses facing an average 18% drop in revenue, the imperative for strategic adaptation is clear. "Navigating this climate requires not only agility, but strong partnerships to ensure sustained growth in a shifting global economy," he added.
Yahoo
09-05-2025
- Business
- Yahoo
HSBC launched a loan specifically to help businesses deal with the cost of tariffs
HSBC has created a loan designed to help businesses handle the cost of tariffs. HSBC TradePay for Import Duties is an extension of an already existing program. Businesses have been scrambling to work out how to deal with the cost of tariffs. Banking giant HSBC has launched a new financing service to help its customers manage the extra costs caused by the trade war triggered by President Donald Trump's tariffs. HSBC TradePay for Import Duties allows businesses to access credit and make payments. It adds to an already existing program launched in 2023 to help businesses deal with the costs of international trade. The London-headquartered bank and financial services firm said the platform could be used to cover the cost of import duties, helping address the extra costs associated with tariffs. According to HSBC, since launching TradePay, it has made $2.3 billion of trade finance accessible worldwide. "By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital at the time they need it most," Vivek Ramachandran, head of global trade solutions, said in a statement. Since Trump announced his so-called "Liberation Day" tariffs in April, US businesses have been scrambling to address the cost of the increased levies on goods. Some have said they will absorb costs, while many have passed these costs onto customers. Last week, HSBC posted a profit before tax of $9.5 billion, compared to forecasts of $7.8 billion, in its first quarter of 2025. It surpassed expectations of revenue by $980 million and announced a share buyback of up to $3 billion. Read the original article on Business Insider 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
Yahoo
09-05-2025
- Business
- Yahoo
HSBC launched a loan specifically to help businesses deal with the cost of tariffs
HSBC has created a loan designed to help businesses handle the cost of tariffs. HSBC TradePay for Import Duties is an extension of an already existing program. Businesses have been scrambling to work out how to deal with the cost of tariffs. Banking giant HSBC has launched a new financing service to help its customers manage the extra costs caused by the trade war triggered by President Donald Trump's tariffs. HSBC TradePay for Import Duties allows businesses to access credit and make payments. It adds to an already existing program launched in 2023 to help businesses deal with the costs of international trade. The London-headquartered bank and financial services firm said the platform could be used to cover the cost of import duties, helping address the extra costs associated with tariffs. According to HSBC, since launching TradePay, it has made $2.3 billion of trade finance accessible worldwide. "By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital at the time they need it most," Vivek Ramachandran, head of global trade solutions, said in a statement. Since Trump announced his so-called "Liberation Day" tariffs in April, US businesses have been scrambling to address the cost of the increased levies on goods. Some have said they will absorb costs, while many have passed these costs onto customers. Last week, HSBC posted a profit before tax of $9.5 billion, compared to forecasts of $7.8 billion, in its first quarter of 2025. It surpassed expectations of revenue by $980 million and announced a share buyback of up to $3 billion. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
09-05-2025
- Business
- Yahoo
HSBC launched a loan specifically to help businesses deal with the cost of tariffs
HSBC has created a loan designed to help businesses handle the cost of tariffs. HSBC TradePay for Import Duties is an extension of an already existing program. Businesses have been scrambling to work out how to deal with the cost of tariffs. Banking giant HSBC has launched a new financing service to help its customers manage the extra costs caused by the trade war triggered by President Donald Trump's tariffs. HSBC TradePay for Import Duties allows businesses to access credit and make payments. It adds to an already existing program launched in 2023 to help businesses deal with the costs of international trade. The London-headquartered bank and financial services firm said the platform could be used to cover the cost of import duties, helping address the extra costs associated with tariffs. According to HSBC, since launching TradePay, it has made $2.3 billion of trade finance accessible worldwide. "By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital at the time they need it most," Vivek Ramachandran, head of global trade solutions, said in a statement. Since Trump announced his so-called "Liberation Day" tariffs in April, US businesses have been scrambling to address the cost of the increased levies on goods. Some have said they will absorb costs, while many have passed these costs onto customers. Last week, HSBC posted a profit before tax of $9.5 billion, compared to forecasts of $7.8 billion, in its first quarter of 2025. It surpassed expectations of revenue by $980 million and announced a share buyback of up to $3 billion. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
