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  1. HSBC's top six get GBP38m pay bonanza

    Posted Mar 02nd 2010, 12:00am by Naomi Rovnick

    ... Naomi Rovnick HSBC has awarded its six top directors a GBP38 million (HK$444.42 million) pay and bonus bonanza, while reporting disappointing annual profits, cutting its dividend ... time. In an interview with the South China Morning Post, chief executive Michael Geoghegan admitted HSBC's troubles in North America- where the bank has swallowed US$40 billion worth of bad ...

  2. Household returns and exchange rate gains offset global downturn

    Posted Aug 05th 2003, 12:00am by Staff Reporter

    ... with good restructuring potential. In an apparent defence against such accusations, HSBC chairman Sir John Bond yesterday said: 'Household's contribution in its first three months ... Two recent acquisitions and exchange rate gains were the main drivers of banking giant HSBC Holdings' robust 25 per cent year-on-year surge in first-half net profit to US$4.1 billion, ...

  3. Asset restructuring plan weighs on BBMG

    Posted Jul 14th 2009, 12:00am by Toh Han Shih

    ... to a related company, Hebei Taihang Cement. In 2007, the China Securities Regulatory Commission told BBMG Group to undertake an asset restructuring. Under the plan, BBMG Corp's parent ... of Taihang,' said Bocom International analyst Christian Jiang Weisong. If the restructuring failed, BBMG Corp's parent might also be subject to litigation by Taihang or its shareholders, ...

  4. Restructuring issues delay China Putian's dual listing

    Posted Oct 07th 2003, 12:00am by Staff Reporter

    ... been scaled back and delayed by restructuring issues, according to sources close to the transaction. China Putian's dual listing in Hong Kong and New York has been cut from US$2 billion-$3 ... restructuring plan, China Putian established a shareholding company with registered capital of 1.9 billion yuan for listing. The listed vehicle will incorporate portions of handset companies Ningbo ...

  5. Leung unfazed by her latest banking challenge

    Posted Mar 23rd 2009, 12:00am by Staff Reporter

    ... lender. Margaret Leung Ko May-yee, HSBC's general manager and global co-head of commercial banking, has been seconded to Hang Seng to succeed Raymond Or Ching-fai, the retiring veteran banker. From May 6, she becomes the first female vice-chairman and chief executive in the lender's 75-year history. Hang Seng Bank is 62.14 per cent owned by HSBC. But her promotion could ...

  6. Next HSBC chief may not be HK-based

    Posted Sep 25th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu The reshuffle expected at the top of HSBC Holdings may make the return of its chief executive to Hong Kong short-lived. The current holder of the post, Michael Geoghegan, relocated from London with much fanfare in February. But he is widely reported to have resigned, and his expected replacement is Stuart Gulliver, the London-based head of HSBC's global banking ...

  7. No respite seen for HSBC as StanChart marches on

    Posted Mar 09th 2009, 12:00am by Staff Reporter

    ... Maria Chan Shares of HSBC Holdings and Standard Chartered took off in different directions last week after the London-based lenders reported their results for last year. HSBC posted a worse than expected 70 per cent drop in net profit, while its rival unveiled an enviable 17 per cent jump in earnings. Analysts are still bearish about HSBC's earnings outlook this year ...

  8. MGM Mirage-Pansy Ho venture could default on US$818m in loans

    Posted Mar 19th 2009, 12:00am by Staff Reporter

    ... the local unit of HSBC Holdings. The joint venture secured its funding in several rounds between 2005 and 2007 and has posted the land-use rights for the US$1.25 billion, 600-room MGM Grand Macau ... attempt to take possession of the MGM Grand Macau, initiate restructuring, or liquidate the assets. A spokesman at MGM Mirage said the Macau Grand had received a 'waiver of its financial ...

  9. Upgrades and listing talk spark rally in HSBC

    Posted May 13th 2009, 12:00am by Staff Reporter

    ... Maria Chan Shares of HSBC Holdings rose as much as 3.03 per cent yesterday after analysts raised their target price and the market speculated that it could be the first foreign bank ... billion) of 15-year bonds, a source told Bloomberg. The notes will be priced to yield 215 basis points more than similar-maturity British government debt. HSBC is managing the sale. Goldman Sachs, ...

  10. HSBC in good position to face tough year

    Posted May 12th 2009, 12:00am by Staff Reporter

    ... Maria Chan and Natalie Chiu HSBC Holdings predicted yesterday a 'tough' year ahead, even as it reported that pre-tax profit for the first quarter was 'significantly higher' than in the fourth quarter of last year. HSBC said its first-quarter pre-tax profit was boosted by fair-value gains of US$6.6 billion on its own debt, but bad-loan provisions at its United ...




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