• Sat
  • Dec 27, 2014
  • Updated: 2:58pm

HSBC

The Hongkong and Shanghai Banking Corporation was founded in Hong Kong on March 3, 1865, and in Shanghai one month later. In 1980, HSBC acquired 51 per cent of Marine Midland Bank, buying the rest in 1987. HSBC Holdings was established in Britain in 1991 as the parent of The Hongkong and Shanghai Banking Corporation ahead of its purchase of the UK-based Midland Bank and the impending 1997 transfer of sovereignty of Hong Kong from Britain to China. 

Letters to the Editor, June 4, 2013

Rhino horns seized in Hong Kong. Photo: Dickson Lee

Very proud of collective memories

I was born and bred in Hong Kong and, like most people living all over the world, I have great affection for my home, its people and culture.

Tuesday, 4 June, 2013, 1:58am 8 comments

HSBC customer dismayed by tax treatment of Swiss dividends

Norwegians need truckloads.

We are saddened to bring to your attention another case of an unhappy HSBC customer. This tale is set against the background of the double tax treaty between Switzerland and Hong Kong that came into force on January 1. Based on that treaty, Switzerland is entitled to withhold a final tax of 10 per cent reduced from 35 per cent, on dividends paid to beneficial owners of Swiss companies.

4 Jun 2013 - 3:57am 2 comments

British banks cut 189,000 jobs, take staff numbers to nine-year low

Falling revenue means banks may cut even more jobs. Photo: AFP

Britain's four biggest banks will have eliminated about 189,000 jobs by the end of this year from their peak staffing levels, bringing employment to a nine-year low amid a dearth of revenue. More cuts may follow.

29 May 2013 - 2:51am

Mr Gullible presents a distorted picture

HSBC chief Stuart Gulliver

I have had an aversion to meetings that begin with videos ever since Shui On chairman Vincent Lo Hong-sui forced a group of investment managers I was leading around town years ago to sit through two videos in a row on his corporate theme - Jonathan Livingstone Seagull, a 1970s New Age mascot.

28 May 2013 - 3:14am 2 comments

HSBC, Standard Chartered sell yuan bonds in Singapore

China has eased controls on the yuan to gradually increase the global use of the currency, which has risen to a record high. Photo: Xinhua

HSBC Holdings and Standard Chartered sold 1.5 billion yuan (HK$1.9 billion) worth of notes in Singapore yesterday in the first dim sum bond issuances since yuan-clearing became available in the city state.

28 May 2013 - 3:05am

HSBC pledges tax haven cutback at annual meeting

Bank attacked for misdeeds.

HSBC pledged to cut its activities in tax havens and further tighten compliance procedures, under a barrage of complaints about past misdeeds from shareholders at the bank's annual general meeting in London.

25 May 2013 - 4:47am

Ex-Deutsche Securities trader wins appeal against SFC

Ex-Deutsche Securities trader wins appeal against SFC

No one will be punished as a result of the investigation into the controversial plunge in HSBC shares in March 2009. The Securities and Futures Appeals Tribunal ruled against a decision by the regulator to publicly reprimand Christian Denk, a former Deutsche Securities Asia trader for selling down the HSBC share price by more than 10 per cent in the last seconds of the auction session on March 9, 2009.

22 May 2013 - 5:25am

HSBC still set on hiring more Hong Kong staff despite job cuts

HSBC bank

Despite plans by HSBC to cut staff globally by up to 5.5 per cent over the next three years, the bank still intends to hire people in Hong Kong, chief executive Stuart Gulliver told shareholders in the city yesterday.

21 May 2013 - 4:09am

For HSBC, the first love is apparently not the deepest

Bank of Shanghai may have been HSBC's original mainland partner, but Stuart Gulliver seems happy to snub it for a more recent tie-up. Photo: AP

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 about his bank's two partners in China.

20 May 2013 - 7:12am 1 comment

Letters to the Editor, May 19, 2013

The pink dolphin's days are numbered. Photo: AFP

The future belongs to our children, and every loving parent should want that future to include the biodiversity that we take for granted.

19 May 2013 - 3:55am 1 comment

Letters to the Editor, May 16, 2013

Under-fire Legco president Jasper Tsang. Photo: Sam Tsang

Disruptive filibuster had to be halted

I agree with the decision of Legislative Council president Jasper Tsang Yok-sing to end a filibuster on the budget bill.

16 May 2013 - 2:47am

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

HSBC has already achieved US$4 billion (HK$31.0 billion) of annualised sustainable cost savings, and plans another US$2 billion to US$3 billion (HK$15.5 billion to HK$23.3 billion) in cost savings between next year and 2016. Photo: SCMP

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.

16 May 2013 - 5:48am 4 comments

Offshore tax havens like Hong Kong contribute to poverty, says ActionAid

Chancellor George Osborne says fighting tax avoidance is priority.

The widespread use of offshore tax havens such as Hong Kong by nearly all 100 of the largest British-listed companies, including HSBC and Standard Chartered, may contribute to world poverty and raise the risk of tax evasion, says British charity ActionAid.

14 May 2013 - 4:26am 2 comments

HSBC cards no longer work in many overseas ATMs

Customers using ATMs abroad have been refused. Photo: Edward Wong

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

12 May 2013 - 6:28am 39 comments

HSBC seeks balance between mobile payments, Hong Kong branch network

Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong

The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network.

Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area.

10 May 2013 - 5:09am 1 comment