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  1. HSBC 'to give up option to raise stake in BoCom'

    Posted Aug 09th 2012, 12:00am

    ... George Chen george.chen@scmp.com HSBC is set to give up its exclusive right to increase its stake in the Shanghai-based Bank of Communications, signalling a shift by the European giant to focus more on growing its own business on the mainland. People familiar with the situation told the South China Morning Post that HSBC, which has its headquarters in London, will not renew ...

  2. HSBC earnings likely to be hit by euro-zone woes

    Posted Jul 28th 2012, 12:00am

    ... George Chen george.chen@scmp.com HSBC, Europe's biggest bank by assets, is scheduled to report its first-half earnings on Monday amid growing trouble in the euro zone that may affect its profits and force it to build a stronger capital base. Analysts at major investment banks have mixed views on the outlook for HSBC's shares because of the rocky economic environment. ...

  3. Streamlined HSBC ready to hire again

    Posted Aug 01st 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com HSBC Asia Pacific is close to completing planned staff reductions as well as the sale of non-core businesses and now plans to hire new employees in some areas, ... thanks to fast-developing markets including Hong Kong and the mainland. But there have been big layoffs, which have drawn fire from trade unions. In August last year, HSBC said it would sell off ...

  4. HSBC can't avoid Senate's rocket-propelled grenade

    Posted Jul 31st 2012, 12:00am

    ... The British Bank of the Middle East has long since been rebranded as HSBC, and these days the risks of operating around the world are different. But as HSBC is discovering, although today's ... of US$8.44 billion, down from US$9.22 billion for the same period last year: a decline of 8.4 per cent. HSBC's earnings fell in part because the bank was forced to set aside US$700 million ...

  5. Esquire Group application resumes battle with HSBC

    Posted Jul 17th 2012, 12:00am

    ... Keith Wallis keith.wallis@scmp.com The Esquire Group is seeking a default judgment against HSBC for hundreds of millions of dollars following the collapse of his electronics trading business several years ago. An application by businessman Gurdas Sabahagchand Choithramani was filed in the High Court yesterday. HSBC and lawyers Mayer Brown JSM have been given two days ...

  6. Sluggish HSBC blamed for taking shine off MPF

    Posted Aug 03rd 2012, 12:00am

    ... Anita Lam anita.lam@scmp.com Fund managers blame HSBC's poor showing in the stock market for the lacklustre performance of the Mandatory Provident Fund (MPF) last month despite ... Pacific-Yamaichi, cited the sluggish HSBC stock as the reason. 'The bank is a major component of many equity and mixed-asset funds. In some cases, it takes up over 15 per cent of a portfolio's ...

  7. HSBC to hive off more non-core assets

    Posted May 11th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com HSBC said it was in talks to sell its operations in Colombia, Peru, Uruguay and Paraguay, part of the bank's strategy to streamline operations and dispose of non-core assets under the leadership of chief executive Stuart Gulliver. 'What this shows is that HSBC wants to exit from those markets, which are too small or which have too little future ...

  8. HSBC first-quarter profit better than expected

    Posted May 09th 2012, 12:00am

    ... Toh Han Shih hanshih.toh@scmp.com HSBC yesterday unveiled better-than-expected first-quarter profit, but the result was overshadowed by losses in Europe and a worse-than-expected rise ... been satisfactory.' In Europe, HSBC suffered a pre-tax loss of US$997 million, against profit of US$652 million in the year-earlier period, driven by adverse movements in credit spreads ...

  9. HSBC plan on track but euro zone vexes

    Posted May 18th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com HSBC is on track to meet the goals of its three-year turnaround plan but is worried about the unfolding crisis in the euro zone. The bank yesterday said ... assets and improve efficiency this year, after hiving off 28 of its business operations since last year. 'This is the biggest reshaping and redesign of HSBC that has happened in the 32 years ...

  10. Mainland couple sue HSBC over US$5 million loss

    Posted May 24th 2012, 12:00am

    ... Austin Chiu austin.chiu@scmp.com A mainland businessman and his wife are suing HSBC's Swiss private banking unit after losing more than US$5 million on high-risk investment products. ... be huge if it falls. Equity-linked notes are linked to the performance of stocks. The couple say in the writ that they visited the Hong Kong office of HSBC Private Bank (Suisse) in March 2007, ...




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