• Tue
  • Jul 29, 2014
  • Updated: 11:11am

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

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

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

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

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

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

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

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

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

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 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