Posts Tagged ‘Shanghai’

HSBC to cut 25,000 to 30,000 jobs

Britain-based Hong Kong and Shanghai Banking Corporation will cut about 10 percent of its total workforce by the end of 2013. The announcement made on Monday means that 25,000 to 30,000 HSBC employees will be laid off. View full post on Banking Stories

HSBC to cut 25,000 to 30,000 jobs

Britain-based Hong Kong and Shanghai Banking Corporation will cut about 10 percent of its total workforce by the end of 2013. The announcement made on Monday means that 25,000 to 30,000 HSBC employees will be laid off. View full post on Banking Stories

HSBC suspends retail banking in Russia

Hong Kong and Shanghai Banking Corporation pulled out of retail banking on Monday from Russia. Instead of engaging in retail banking, HSBC said it will focus on making available global lending services to industrial and corporation clients. View full post on Banking Stories

U.S. IRS seeks court order to force HSBC to disclose names of Indian-American depositors

The U.S. Internal Revenue Service asked a California federal judge Thursday for a court order to mandate Hong Kong and Shanghai Banking Corporation to disclose the names of wealthy Indian-American depositors who are suspected of tax evasion. The IRS believes that the suspects opened offshore accounts through HSBC’s affiliate in India. View full post on […]

U.S. banks start charging $5 fee to use ATMs

Some U.S. banks have started to increase their ATM fees, according to report. Among them are JP Morgan Chase and Hong Kong and Shanghai Banking Corporation USA. View full post on Banking Stories

HSBC To Double Basic Banker Pay In Advance Of EU Bonus Restrictions

Hong Kong and Shanghai Banking Corp. plans to double the basic pay of senior investment banks to get around tightening European Union rules on bonus payouts. Those who will benefit from the scheme are HSBC bankers in London, New York and Hong Kong. View full post on Banking Stories

China Stocks On Six-Month High On Profits, Commodities

Lawrence Mijares – AHN News Contributor Shanghai, China (AHN) – The Shanghai Composite Index advanced 76.38, or 2.6 percent, to 3,051.42 at the 3 p.m. close, the highest since April 16. The increase in profit is due to the continuous weakening of the U.S. dollar and rising commodity prices due to increased consumer demand where […]

President to address business forum in Shanghai

President Susilo Bambang Yudhoyono will be the key speaker at a business forum attended by 300 leading Chinese and Indonesia businessmen in Shanghai, China next week. View full post on Business Stories

France’s GDF Suez signs China LNG supply deal

SHANGHAI : French energy giant GDF Suez on Saturday signed a deal to sell 2.6 million tonnes of liquefied natural gas to China between 2013 and 2016 as the energy-hungry nation steps up gas imports. View full post on Business Stories

Flint has to reunite HSBC’s board as well as fix relations with shareholders

Oh to be a fly on the wall when the HSBC board meets in Shanghai today. No doubt at least a veneer of civility will be maintained in the boardroom – yet it is now patently clear that the bank’s board is deeply split. View full post on UK Business Stories