• Thu
  • Oct 2, 2014
  • Updated: 10:56pm

Hsbc Holdings

HSBC may quit South Korean retail banking sector

HSBC Holdings is considering closing its South Korean retail operations, the Yonhap news agency reported, citing unidentified industry officials and regulators.

Friday, 30 November, 2012, 2:53am

HSBC sells insurance arm for US$914m

HSBC Holdings yesterday sold its profit-making general insurance business in Asia and Latin America to French insurer AXA and Australian insurance group QBE to net US$914 million, marking the latest deal in its sale of non-core businesses.

Stuart Harrison, chief executive of AXA Hong Kong, said there would be no job or salary cuts as the company took HSBC staff on board.

8 Mar 2012 - 12:00am

French and US insurers in running for HSBC sale

HSBC's plan to sell its general insurance business worldwide is close to the final stages, with French insurance giant AXA and US insurer ACE on the short-list of potential buyers, say people familiar with the situation.

10 Feb 2012 - 12:00am

HSBC shares drop 5.5pc on reform fears

HSBC Holdings shares fell 5.54 per cent to HK$61.35 yesterday - plumbing depths not seen since July 2009 - on fears its profits will be drained by new British banking reforms requiring lenders to set aside vast amounts of cash to absorb future losses.

13 Sep 2011 - 12:00am

HSBC sells U.S. card business for US$32.7b

HSBC Holdings has struck a deal to sell its credit card and certain retail services businesses in the United States to Capital One Financial Corp, marking another step in the lender's exit from the country as it focuses more on emerging markets.

11 Aug 2011 - 12:00am

30,000 lay-offs, and more at risk

HSBC could post further job cuts on top of the 30,000 lay-offs announced yesterday if Britain's Independent Commission on Banking (ICB) imposes new regulations that could dampen the performances of banks.

The 30,000 laid off represent about 10 per cent of HSBC's 296,000 employees.

2 Aug 2011 - 12:00am

'Taipan' Cheng retires from HSBC's heights

When Vincent Cheng Hoi-chuen got into a lift on his first day at Hongkong and Shanghai Banking Corp in 1978, a colleague politely asked him to get out - he was in the 'taipan' lift, for the chairman's exclusive use.

24 May 2011 - 12:00am

HSBC net profit climbs 57.8pc in quarter

HSBC Holdings' earnings jumped 57.8 per cent in the first quarter, but chief executive Stuart Gulliver said it could take three years for the bank to reach its key cost reduction target.

10 May 2011 - 12:00am

HSBC rejects report on HQ move

HSBC Holdings management has dismissed a Sunday Telegraph report that it is considering quitting London for Hong Kong because of high tax and red tape. 'London continues to be recognised as one of the world's leading international financial centres, a position it has built over many decades through deliberate policy action.

7 Mar 2011 - 12:00am

Hang Seng Index fails to hold above 21,000

The Hang Seng Index cleared the 21,000-point hurdle yesterday morning for the first time since early September last year but could not hold the line, as skittish investors retreated on speculation that upcoming earnings announcements could disappoint the market.

The index climbed 1.87 per cent before finishing at 20,796.43, down 10.83 points or 0.05 per cent.

5 Aug 2009 - 12:00am

HSBC faces hiring challenges from strong yuan

Global banking giant HSBC Holdings is increasingly challenged when it comes to recruiting and retaining talent in the nation's financial market as a strengthening yuan raises staff expenses.

3 Apr 2008 - 12:00am

HSBC mulls US acquisitions amid subprime mortgage woes

HSBC Holdings, the global lender haunted by US subprime mortgage woes, has indicated that it has no plans to pull out of the US market and may even make acquisitions there.

'We may consider acquiring banks linked to Spanish and Asian communities,' said Michael Geoghegan, the group's chief executive.

'This will not be a large regional bank,' he added.

2 Apr 2008 - 12:00am

HSBC buyout of Bear Stearns seen as unlikely

Speculation is rife on Wall Street that big US investment bank Bear Stearns is a takeover target after it received emergency funding on Friday - and HSBC is among the institutions being touted as potential white knights.

However, analysts in Hong Kong yesterday cast doubt on reports the British bank might absorb Bear Stearns.

16 Mar 2008 - 12:00am

HSBC, charity in rural credit talks

The Bill & Melinda Gates Foundation and HSBC Holdings are in talks with the mainland's largest animal feed producer about setting up rural credit firms to help the nation's army of poor farmers to modernise.

7 Mar 2008 - 12:00am

HSBC hunts for more assets in the region

Bank chief remains bullish on Asia-Pacific's outlook despite US slowdown concerns

HSBC Holdings still seeks to expand through acquisitions in the Asia-Pacific, including emerging markets such as Indonesia and India.

'As opportunities arise, we'll aggressively pursue them,' said Michael Geoghegan, the global bank's group chief executive.

5 Mar 2008 - 12:00am

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