Posts Tagged ‘HSBC’

Four European banks investigated for Libor manipulation

In the aftermath of the probe that saw British bank Barclays pay record fines, financial regulators are now fixing their attention to Deutsche Bank, HSBC, Societe Generale and Credit Agricole for their possible involvement in the the Libor interest-rate manipulation scandal. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Top HSBC official resigns at Senate money laundering hearing

In front of U.S. lawmakers, HSBC’s head of compliance announced his resignation on Tuesday following a Senate report that accuses London-based global bank of allowing drug and terrorist money access to the U.S. financial system. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

U.S. Senate blasts HSBC for money laundering

The U.S. Senate released a report on Monday painting HSBC as participant in a system where the London-based bank acted as financier for clients that laundered money suspected of having drug and terrorism roots. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Global financial markets tremble as Moody’s downgrades rating of 15 banking titans

Moody’s on Thursday downgraded credit rating of world’s 15 largest financial institutions, including Barclays, Citigroup, Deutsche Bank, Goldman Sachs and HSBC. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

HSBC offloads general insurance business to AXA and QBE

Banking giant HSBC announced plans to sell its general insurance businesses in Asia and Latin America. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Capital One announces plans to purchase HSBC credit card arm

Capital One on Wednesday announced plans to purchase the U.S. credit card arm of HSBC bank for $2.6 billion. View full post on Banking Stories

HSBC to “announce more than 10,000 job cuts next week”

LONDON: Global banking giant HSBC will announce next week plans to axe between 10,000 and 15,000 jobs in the coming year as part of a drastic cost-cutting drive, a report said Saturday. View full post on Business Stories

Banking giant HSBC eyes cost cutting; may move tech development to low-cost countries

Banking giant HSBC announced Wednesday that it plans to shave costs by up to $3.5 billion with a combination of strategies, including reducing its retail and wealth management divisions as well as trimming IT operations. View full post on Banking Stories

HSBC tries to play down talk it will leave Britain

HSBC yesterday attempted to cool mounting speculation it is to quit the UK for Hong Kong in the face of -growing pressure from shareholders. View full post on Business Stories

Madoff Trustee Files 2nd Lawsuit For $9 Billion Against HSBC

In a span of one week, the court-appointed trustee of Bernard Madoff filed two lawsuits against major banks in a bid to recover money for Madoff’s victims. On Sunday, Irving Picard filed the second lawsuit for $9 billion against HSBC Holdings. View full post on Banking Stories