HSBC Holdings News
24-05-2012
- EU leaders clash over Eurobonds
- Chinese manufacturing continues to contract
- Financials wanted after recent sell-off
23-05-2012
- Officials warn Eurozone to prepare for Greek exit
- BoE policy makers 'finely balanced' on more QE
- CBO warns of US recession
23-05-2012
Barclays, BTG, Burberry, Cobham, FirstGroup, Great Portland, HomeServe, HSBC, Impax, InternetQ, Ocado, RBS, Savills, Shaftesbury, Victrex, Vodafone
22-05-2012
Stuart Gulliver, HSBC's chief executive, has said the bank had decided to drop "indefinitely" plans to look at moving its headquarters from London to Hong Kong. HSBC, which paid 1.5bn dollars (950m pounds) tax in the UK last year, threatened to leave the UK in the face of punitive financial regulation. News that is has squashed the review into changing its domicile will be a major boost to HMRC and the UK, where HSBC employs 50,000 people. "Although we talked at one point about reviewing this, it has been postponed indefinitely," Mr Gulliver, told a group of shareholders in Hong Kong. He added: "There are too many moving parts to make a rational, conscious decision," The Telegraph says.
21-05-2012
- G8 underwhelms; markets look to EU summit
- Hollande expected to push eurobond idea to Merkel
- Risk-on as financials, miners advance; defensives sold
21-05-2012
Miners and financial stocks were among the best performers of the day on Monday as the Footsie rebounded after slumping to a six-month low on Friday.
21-05-2012
- G8 underwhelms as euro crisis continues to hamper sentiment
- Cameron warns Eurozone to anticipate Greek exit
- Barclays to offload BlackRock stake
21-05-2012
- G8 summit fails to lift sentiment as euro worries persist
- Chinese stimulus speculation does the rounds
- Man Group surges early on
21-05-2012
When it comes to contingency planning for a Eurozone break-up, it is typically a German company that has been ahead of the game. Industrial conglomerate Siemens acquired a banking licence in December 2010. That allowed it to access directly European Central Bank funds, so cutting its exposure to swings in jumpy currency markets. It also took to parking cash at the ECB, once depositing 500m euros after withdrawing them from riskier French lenders. Now, with just about everyone reckoning Greece is heading for the exit, the treasury operations of multinational companies have gone into overdrive. WPP, Reckitt Benckiser and Diageo, to name just three, have taken to a daily sweep of euros from their accounts to reduce the risk of any overnight devaluation, The Telegraph reports.
21-05-2012
Global banking group HSBC has completed the sale of 195 US retail branches to First Niagara Bank, first announced in July last year.
18-05-2012
British taxpayers could suffer a 2bn pound loss on Northern Rock but it should be seen as the cost of securing financial stability, according to the National Audit Office. The Government's spending watchdog said the Coalition was correct to seek an early sale of the nationalised lender, which resulted in the sale last year of Northern Rock's so-called "good bank" to Sir Richard Branson's Virgin Money for an initial sum of 747m pounds. The NAO expects the taxpayer to lose 480m pounds of its original 1.4bn pound investment in Northern Rock, but said the figure could rise to as much 2bn pounds in real terms by the time the assets are fully wound down, The Telegraph reports.
17-05-2012
HSBC, 'the world's local bank', is turning into ... er ... just a big bank as it executes its strategy of focusing on regions that offer the sexiest growth prospects.
17-05-2012
African Barrick, Amlin, Aviva, Babcock, Brammer, Compass, HSBC, ICAP, Lamprell, TalkTalk, Tullett Prebon, Xchanging
14-05-2012
- Footsie closes at levels not seen since mid-December
- Potential Greek exit from euro hammers stocks
- Banks, miners the worst performers in London
14-05-2012
- Risk-off as Greek exit speculation weighs on sentiment
- Eurozone finance ministers to focus on Greece, Spain and growth
- Banks, miners lead the fallers on the Footsie
14-05-2012
- Political uncertainty in Greece, Germany weighs on sentiment
- Officials consider Greek euro exit
- Banks, miners drag on the FTSE 100
14-05-2012
City sources predict the FTSE 100 will open down 51 points from Friday's close of 5,576, despite strong gains in Asia over China's decision to lower the reserve requirements for banks by 50 basis points. Investors are likely to continue feeling concerned over events in Greece, where it is currently looking likely that another election will be held as last ditch attempts to form a government have thus far proved unsuccessful.
14-05-2012
HSBC, which styles itself as the world's local bank, is to become a bit less local in parts of Latin America following the agreed sale of its operations in Colombia, Peru, Uruguay and Paraguay.
11-05-2012
- US consumer sentiment at post-recession high
- Banks weighed down by JP Morgan surprise trading loss
- Miners pressured lower by Chinese data
11-05-2012
- Chinese economic figures weigh on mining stocks
- JP Morgan trading loss dents UK banks
- UK factory gate inflation eases less than expected
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