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  • October 30, 2014
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  1. Business - Banking & Finance - EARNINGS

    Long, hard road ahead for HSBC and StanChart

    Posted Oct 20th 2014, 05:05am by DON WEINLAND

    ... than US$550 million for bad practices in its mortgage-backed securities business before the global financial crisis. Standard Chartered agreed to a US$300 million fine for failing to flag ... competitiveness of European banks on stimulus compared with the two Hong Kong-listed banks, which are highly exposed to staid financial markets businesses in Asia. The poor financial markets businesses ...

    http://www.scmp.com/business/banking-finance/article/1620195/long-hard-road-ahead-hsbc-and-stanchart
  2. Business - Banking & Finance - FINANCE

    HSBC pays US$550m to settle US claims over mortgage-backed securities

    Posted Sep 14th 2014, 06:35am by AP

    ... government agreement over actions related to the financial crisis that struck in 2008. The meltdown, triggered by vast sales of high-risk mortgage-backed securities, plunged the US economy ... at the height of the financial crisis in September 2008 when they were on the verge of collapse. The companies received taxpayer aid totalling US$187 billion. They have since become profitable ...

    http://www.scmp.com/business/banking-finance/article/1591986/hsbc-pays-us550m-settle-us-claims-over-mortgage-backed
  3. Business - Banking & Finance - EARNINGS

    HSBC and StanChart pin growth hopes on rate rises

    Posted Aug 11th 2014, 03:56am by DON WEINLAND

    ... with fewer deposits in rate-sensitive accounts. Low interest rates and a flat line in volatility led to rapid deterioration of its financial markets businesses in the first half, in which income fell ... the bad news comes not long after it launched an aggressive new strategy. Last month, the Financial Times reported that shareholders were calling for an immediate succession plan for Sands. ...

    http://www.scmp.com/business/banking-finance/article/1570896/hsbc-and-stanchart-pin-growth-hopes-rate-rises
  4. Business - Banking & Finance

    HSBC and Standard Chartered among first Shanghai free-trade zone banks

    Posted Sep 10th 2013, 12:00am by KANIS LI

    ... to yuan business, with the central government keen to make its currency more global. Raymond Yeung, an economist at ANZ Banking in Hong Kong, said Shanghai was the mainland's financial centre ... and bankers, with some worrying the city's position as an offshore yuan-trading centre and its financial industry might be threatened by Shanghai's rise. ...

    http://www.scmp.com/business/banking-finance/article/1307200/hsbc-stanchart-fit-free-trade-zone
  5. 'Big elephant' blunders its way to financial ignominy

    Posted Mar 18th 2009, 12:00am by Joseph Wong

    ... opposition from large, publicly listed companies. The government has a huge stake in ensuring Hong Kong's reputation as an international financial centre. It should therefore oversee the SFC ... if not generations. There may be sound financial reasons to pitch the rights issue at the ratio of five new shares to every existing 12. But with the lot size of 400, one has to hold 4,800 shares, ...

    http://www.scmp.com/article/673624/big-elephant-blunders-its-way-financial-ignominy
  6. Business - THE VIEW

    HSBC seems to find it easier to pay fines than fix corporate culture

    Posted Jul 14th 2014, 03:09am by Peter Guy

    ... the financial crisis, global banks have evolved from "too big to fail" into "too big to jail". Each new fine, like BNP Paribas' US$8.9 billion penalty, sets a new, ignominious record. Governments fear that a criminal conviction and closure of a major bank would prove far too disruptive to the financial system. But big banks are not making significant progress towards ...

    http://www.scmp.com/business/article/1553555/hsbc-seems-find-it-easier-pay-fines-fix-corporate-culture
  7. News - World - IRAN

    Iran lobbies HSBC to clear humanitarian transactions

    Posted Jun 24th 2014, 09:45pm by Reuters

    ... to have stopped processing financial transactions for allowable humanitarian trade," the source said, adding that this could have wider implications given that "the [financial] ecosystem ...

    http://www.scmp.com/news/world/article/1539837/iran-lobbies-hsbc-clear-humanitarian-transactions
  8. Business - Banking & Finance - BANKING

    HSBC asset sale to LGT will halve countries served by its private bank

    Posted Jun 25th 2014, 02:37am by Reuters

    ... it remained committed to Switzerland as a key international centre for its global private banking business. HSBC and LGT said about 70 staff would transfer as part of the deal. HSBC has about 1,400 ...

    http://www.scmp.com/business/banking-finance/article/1539895/hsbc-asset-sale-lgt-will-halve-countries-served-its-private
  9. News - Hong Kong - CONSUMER AFFAIRS

    HSBC customer forced to make 16,000-kilometre trip to access account after bank blunder

    Posted Jun 22nd 2014, 04:30am by DANNY LEE

    ... Danny Lee danny.lee@scmp.com Robert Lewis had to fly from Australia to Hong Kong 16,000km journey to solve bank bungle When former Hong Kong resident Robert Lewis opened an account with the 'world's local bank' he thought HSBC would be able to cater for all his financial needs, wherever in the world he went. Little did he know that due to a breakdown in communication over his ...

    http://www.scmp.com/news/hong-kong/article/1538011/hsbc-customer-forced-make-return-trip-australia-access-his-account
  10. Business - Banking & Finance

    HSBC private bank bets on new hedge funds in Asia

    Posted May 15th 2014, 01:43am by BLOOM

    ... financial crisis in attempts to cut costs, raising barriers for smaller hedge funds to expand assets. "With less proprietary trading than before and less assets under management trading those ...

    http://www.scmp.com/business/banking-finance/article/1512312/hsbc-private-bank-bets-new-hedge-funds-asia

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