• Fri
  • Aug 22, 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 7, 2013

Equality at stake in college DSS proposal

I would like to express my opinion on the proposal by St Stephen's Girls' College [and St Stephen's Girls' Primary School] to join the Education Bureau's Direct Subsidy Scheme (DSS).

Friday, 7 June, 2013, 1:12am 2 comments

HSBC apologises for UnionPay ATM-card fiasco in Hong Kong

Ever since HSBC started sending out its new ATM cards with an embedded chip, internet chat rooms and our own organ's letters page have been humming with disgruntled HSBC customer complaints.

7 Jun 2013 - 11:57am 7 comments

New York sues HSBC for breaking foreclosure law

New York attorney general Eric Schneiderman yesterday filed a suit against HSBC Holdings, accusing the bank of breaking state foreclosure law and putting homeowners at greater risk of losing their homes.

5 Jun 2013 - 4:05am

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.

I do not see it as wrong to defend our culture, history and heritage and, as Hong Kong was governed as a British colony, that would inevitably include those built and nurtured under colonial rule.

4 Jun 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