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  1. HSBC cuts profitability target; shares plunge

    Posted Mar 01st 2011, 12:00am by Naomi Rovnick

    ... Naomi Rovnick HSBC's shares received a battering on new chief executive Stuart Gulliver's first annual results announcement, as the bank admitted shareholders returns would fall ... more capital aside for future crises. HSBC also revealed its costs had ballooned partly because it is increasing staff wages in Asia, and that it could take a significant hit this year from ...

  2. HSBC seems to have taken inspiration from Benetton ad campaigns of the '80s

    Posted Jul 11th 2009, 12:00am by Alex Lo

    ... with Alex Lo I was struck by a deep sense of d?j? vu while looking at this new advert for the self-styled world's local bank. Has HSBC decided to branch out into the apparel business ... bank customers of HSBC, perhaps? There is, presumably, no copyright for ad campaigns. So why create when you can copy? We just hope HSBC won't be following in the footsteps of Benetton ...

  3. HSBC to let staff work from home, set start times

    Posted Jun 06th 2009, 12:00am by Staff Reporter

    ... Ng Kang-chung Some 17,000 employees of banking giant HSBC can choose the time they start and will be able to work from home under a policy that will come into effect early next month. The bank, which announced the new 'flexible working policy' yesterday, said it was not a cost-cutting measure and it should not be interpreted as such. HSBC slashed about 650 jobs on three ...

  4. No longer a local bank, HSBC faces global trials

    Posted Mar 03rd 2009, 12:00am by Staff Reporter

    ... HSBC has launched a massive capital raising from its shareholders to shore up its strength following a 70 per cent fall in profits last year. Given that it remains one of the world's most strongly capitalised banks, that says something about the impact of the financial crisis on the global banking industry. It also says a lot about HSBC's relative strength that it can ...

  5. Fears mounting over new layoffs at HSBC

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

    ... Albert Wong HSBC yesterday declined to comment on reports that it was planning further layoffs, sparking fears that there could be foundation to talk of a possible 5 per cent staff reduction. President of the Hong Kong Banking Employees Association Lee Lai-ching said yesterday she had read media reports, as well as hearing from her own sources, that HSBC was planning ...

  6. HSBC staff tell of tears, tension as job cuts hit local branches

    Posted Nov 18th 2008, 12:00am by Staff Reporter

    ... Phyllis Tsang and Ng Kang-chung Sacked HSBC staff wept yesterday as they packed their belongings after being told by their managers they were being dismissed. They were given ... The Confederation of Trade Unions last night accused HSBC of ignoring its social responsibility. 'Despite huge profits, HSBC still resorts to mass layoffs. And it did not consult staff. It is flatly ...

  7. Brokers cut HSBC price targets over US woes

    Posted Mar 04th 2009, 12:00am by Staff Reporter

    ... Natalie Chiu and Wong Ka-chun Major brokerages slashed their share price targets for HSBC Holdings as much as one-third yesterday on concerns about more bad debt provisions for its troubled United States operation. JP Morgan said winding up the bank's US consumer finance unit, HSBC Finance Corp, was expected to lead to cost savings, but uncertainty over provisioning ...

  8. Pros and cons of jumping onto the HSBC bandwagon

    Posted Mar 08th 2009, 12:00am by Naomi Rovnick, Nick Westra

    ... Naomi Rovnick and Nick Westra HSBC, the cornerstone of Hong Kong's economy, needs you. Investors are being asked to rally around and whip up US$17.7 billion fighting fund the bank ... and buy five shares at HK$28 for every 12 they own. If you own 40 lots of HSBC stock- worth HK$720,000 if the shares are trading at HK$45- the cut-price shares will cost another HK$187,000. ...

  9. HSBC extends rally on Goldman Sachs upgrade

    Posted Mar 18th 2009, 12:00am by Naomi Rovnick

    ... Wong Ka-chun, Maria Chan and Naomi Rovnick HSBC Holdings shares rose for a sixth day yesterday after Goldman Sachs said the worst might be behind the lender, but investors are expected to dump the shares today after receiving their fourth-quarter dividend. HSBC rose as much as 5.25 per cent to a high of HK$42.10 before closing with a gain of 2.88 per cent at HK$41.15. In London, ...

  10. Employees of HSBC, TVB inform unions of 'impending layoffs'

    Posted May 08th 2009, 12:00am by Peter So

    ... Peter So Employees of TVB and HSBC have made calls to unionists claiming some staff will be dismissed soon, fuelling fears of more layoffs in the banking and broadcasting sectors. ... 'three or four calls' from HSBC staff in the afternoon, claiming that about 40 people at the trade services department had been asked verbally by their managers to resign, ...




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