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HSBC Holdings PLC says it is cutting 1,700 positions from its British work force.
HSBC Holdings PLC, the world's fifth-largest bank in terms of assets, reported a 57 percent fall in first-half profit as provisions for bad loans increased, one symptom of the world recession.
HSBC PLC, Europe's biggest bank, said Monday it will no longer write new consumer loans in the United States and will shut down its U.S. lending unit over the next five years due to the subprime mortgage market's collapse. The decision will cost 6,100 U.S. jobs.
HSBC PLC, Europe's largest bank by market value, on Monday reported a 70 percent drop in 2008 net profit and said it would raise $17.7 billion in new capital through a share issue, while cutting 6,100 jobs as it shutters consumer loan businesses in the U.S.
HSBC PLC plans to scale back its consumer lending operations in the United States and to close hundreds of branches there, British and U.S. newspapers reported Sunday.
Hong Kong lawmakers slammed HSBC for helping to sell Lehman Brothers bonds in the Chinese territory, questioning if Europe's largest bank should have done more to protect local investors from products that may be worthless in the aftermath of the Wall Street firm's collapse.
HSBC Holdings PLC, Britain's largest bank, said Monday it planned to increase the amount of money it lends to Britons for mortgages by 20 percent next year.
HSBC Holdings PLC said Friday it has bought back its London headquarters from Spanish real estate company Metrovacesa S.A. in an 838 million pounds ($1.2 billion) deal.
HSBC Holdings PLC said Friday it has bought back its London headquarters from Spanish real estate company Metrovacesa S.A. in an 838 million pounds ($1.2 billion) deal.
HSBC Holdings PLC, Europe's largest bank by market value, plans to cut 500 jobs in Asia due to the global economic slump.
HSBC Holdings PLC, Europe's largest bank by market value, reported Monday that third-quarter profit rose, as growth in Asia and asset sales offset a poor performance in the United States, where bad loans continued to mount.
HSBC Holdings PLC, Europe's largest bank by market value, said Monday it had been forced to write down the value of its assets by $4.9 billion in the third quarter, as the cost of bad loans in the U.S. continued to mount and the credit market faltered.
HSBC Holdings PLC, Europe's largest bank by market value, is cutting 1,100 jobs worldwide in the wake of the financial turmoil, a spokesman said Friday.
British bank HSBC Holdings PLC said Friday it has canceled an agreement to purchase a controlling stake in a South Korean bank from U.S. private equity group Lone Star Funds amid world financial turmoil.
HSBC Holdings PLC, Europe's largest bank by market value, reported Monday its steepest fall in profit since 2001 as costs for bad U.S. mortgage loans mounted.
HSBC Holdings PLC said Monday that first-quarter profit was better than a year ago, despite a $3.2 billion write-down on subprime mortgage assets in the United States.
Banking group HSBC Holdings PLC said Monday that profit rose 21 percent in 2007 in the face of hefty impairments on subprime and other loans in North America.
HSBC Holdings PLC, Europe's largest bank, said Monday it will bail out two troubled funds it manages by transferring about $45 billion of their assets onto its balance sheet.
HSBC Holdings PLC, Europe's biggest bank, reported another big hit from exposure to the U.S. mortgage crisis Wednesday and warned that bad debts could increase if the U.S. housing market weakens further.
Confessions of a credit card telemarketer - The Red Tape Chronicles - msnbc.com"I hate flat-out lying to someone, but that's exactly what we do, 150 calls a day. I have seen so many people ripped off that I had to attempt to let people know." "Honestly, the little old ladies are the people who buy the most."
U.S. charges Obama fund-raiser in $290 million fraudHassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.
Does Living In California Make You A Higher Credit Risk?A San Diego man says he was told his credit limit was lowered in part because he lives in California.
Credit Card Companies Cutting Credit Lines Below Actual BalancePaul Pensabene of Saratoga Springs, N.Y., received a statement from HSBC on Dec. 8 that said he had a $359.99 balance and remaining available credit of $8,640.
Major banks facilitate corruption in world's poorest countries; government regulation is not workingAs G20 finance ministers meet in London to discuss how to rescue the global financial system and prevent the next disaster, a new report by anti-corruption NGO Global Witness shows how some of the world's biggest banks have been dealing with some of the world's most corrupt r …
Undue DiligenceGlobal Witness new report Undue Diligence names major banks who have done business with corrupt regimes / kleptocrats. By accepting these customers, banks assist those who are using state assets to enrich themselves or brutalise their own people.
NAACP accuses Wells Fargo and HSBC of steering well-qualified blacks into subprime loansThe NAACP is accusing Wells Fargo and HSBC of forcing blacks into subprime mortgages while whites with identical qualifications got lower rate
NAACP: Bank Giants Steered Blacks To Bad LoansThe NAACP is accusing Wells Fargo and HSBC of forcing blacks into subprime mortgages while whites with identical qualifications got lower rates.
It Begins: Top HSBC Banker Found Hanging In London Hotel RoomA top HSBC banker has been found hanged in the room of a five-star hotel, police said tonight.
HSBC Confirms 500 UK Jobs To GoBanking group HSBC has confirmed it is cutting 500 jobs across the UK. HSBC said none of the positions were customer facing, and that it hoped that some of the affected employees would be able to move to other roles.
Judge Bars Lawyer From Doing Debt Consolidation WorkA lawyer is put out of the debt consolidation business.
HSBC may cut 600 jobs in Asia -reportThe Asian arm of UK bank HSBC Holdings may cut 600 more staff as economic conditions worsen, Hong Kong's Standard newspaper reported on Monday, citing unnamed sources. HSBC spokesman Gareth Hewett declined to comment.
HSBC rolls out facial recognition technology at data centresHSBC is rolling out biometric facial recognition technology from OmniPerception at two UK data centres after a successful trial at its headquarters in Canary Wharf.
Google Satellite bandwidth detailsLow latency satellite bandwidth at USD 500 a Mbps or less by 2010
HSBC to axe 500 UK jobsAbout 500 UK jobs are being axed at HSBC as part of a worldwide cull within its investment banking division, the group confirmed today.
HSBC chief backs bank pay reform Bankers' pay needs to be reformed so they are no longer handsomely rewarded for deals that turn bad, the chairman of HSBC has warned. Chairman Stephen Green told the BBC that the banking industry was too focused on short-term profits.
New Delhi,the capital of India, was recently under the grip of fear from the Biker's gang.The dreaded gang used to shot dead anyone who refused to part with his belonging.After intense public pressure the Police arrested some criminals who were residing in an outskirt village, po …
HSBC charges up to £9,999 for 'rescue' mortgage dealsArrangement fees for HSBC's matching mortgage deal can be up to £9,999. Reported 'In the News' on 9 April, HSBC's deal offers to match customers existing fixed rate deal. However last week arrangement fees were put up.
First Direct re-enters the mortgage marketSeven weeks after First Direct stopped accepting new mortgages, as reported 'In the News' 02 April, the mortgage provider has re-opened for business.
Pay up! Banks urged to concede defeat as judge rules against chargesYesterday the High Court ruled that the Office of Fair Trading (OFT) could challenge high street banks on overdraft charges.
HSBC shocks mortgage rivals with offer to match old rateFollowing HSBC's announcement that it would match fix rate mortgage deals (reported 'In the News' yesterday), it has emerged that arrangement fees could be as much as £5,000.
HSBC moves to take mortgage market shareHSBC is bucking the trend in the mortgage market by offering to match homeowners' existing mortgage deals. HSBC is targeting the 1.4 million customers who are coming off fixed rate deals this year and is offering to match their existing fixed rate deal.
HSBC facing probe over lost customer data disc Banking giant HSBC today faced the prospect of an investigation by the City watchdog after admitting it had lost a disc containing details of 370,000 customers.
First Direct puts halt to new lending as homes gloom growsMortgage provider First Direct have announced that it is no longer accepting new mortgages after receiving five times the usual volume of applications.
Which companies have the most ID theft victims?Who's to blame for the ID theft epidemic? Surprisingly, given all the attention the subject receives, we know strikingly little about the root causes of the problem.
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