Banking

For HSBC, the first love is apparently not the deepest

20 May 2013

Remember that old saying: in business, there are no friends, no enemies, but only "interests"? Well, last week, HSBC's chief executive, Stuart Gulliver, gave the saying fresh meaning when talking...

7:12AM

Ex-head of Spain's Caja Madrid accused over Florida bank takeover

19 May 2013

Miguel Blesa, 65, who has links to senior members of Spain's governing Popular Party, was held overnight in a Madrid jail and came out on Friday after putting up €2.5 million (HK$25 million) in...

7:09AM

Secretive Vatican Bank to publish annual reports in transparency bid

17 May 2013

The Vatican Bank, a centre of scandals for decades, is to launch its own website and publish its annual report in an effort to increase transparency, its new president said. Ernst von Freyberg...

4:40AM

Institutions back huge fee rise for Hang Seng board

17 May 2013

Hang Seng Bank's minority shareholders failed to stop a plan to give directors a rise in fees of more than 30 per cent while dividends stay unchanged, after the motion was carried with the...

6:18AM

Minsheng makes profitable Hong Kong start

16 May 2013

Many mainland bank operations in Hong Kong took at least three years to see a profit, said Lin Zhihong, chief executive of China Minsheng's Hong Kong business, which made a net profit of more than...

4:12AM

HSBC to cut 14,000 staff worldwide in cost-cutting push

15 May 2013

HSBC will slash 14,000 more jobs worldwide to save an extra US$2-to-US$3 billion in costs by 2016 as the bank strives to revive profits in the face of fragile growth prospects for the industry.

5:48AM

4 comments

Opinion

Howard Winn

Ferry companies shouldn't be subsidised while they burn dirty fuel

2:53AM

Shirley Yam

What were our top officials doing to let HKMEx fail?

3:37AM

HSBC cards no longer work in many overseas ATMs

Many on business trips or holidays have said they were unable to get their hands on their cash from ATM machines.

6:28AM

39 comments

Spanish court blocks extradition of alleged HSBC data thief

Spain has ruled against extraditing a former HSBC employee who is wanted in Switzerland on charges of stealing data on tens of thousands of bank accounts that a number of European countries have...

2:30AM

StanChart's first-quarter margins hit by competition

The results came as a shock to the market, with Standard Chartered's share price in Hong Kong falling 3.53 per cent to close at HK$193.90, after rising as much as 2.4 per cent before the bank's...

5:08AM

Societe Generale earnings halve

Net income fell to €364 million (HK$3.7 billion) from €732 million a year earlier, the bank said yesterday. It booked costs of €1.05 billion related to the revaluation of its debt in the period....

3:05AM

SINGAPORE

Singapore's banks get set to dump clients suspected of tax evasion

Banks in Singapore are urgently scrutinising account holders as an imminent deadline on stricter tax evasion measures forces them to decide whether to dump some of their wealthiest clients.

5:37AM

Banks in Singapore agonise over rich clients in tax evasion clampdown

Banks in Singapore are urgently scrutinising their account holders as an imminent deadline on stricter tax evasion measures forces them to decide whether to send some of their wealthiest clients...

1:02PM