HSBC | South China Morning Post
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  • Apr 18, 2015
  • Updated: 10:25pm
HSBC

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. 

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.

Wednesday, 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

HSBC breaches its deeds by bringing down the shutters

Asset stripper?

Readers will have been aware that during the recent dock strike, a number of dockers were camped outside the Cheung Kong building in Central, more or less opposite the HSBC headquarters at 1 Queens Road. The bank, unnerved by the Occupy Central movement, which set up camp in the area under the bank for almost a year, promptly restricted access to this space by lowering most of the shutters.

10 May 2013 - 5:21am

HSBC profit doubles on stronger US, Europe earnings

Stuart Gulliver

A turnaround in its business in Europe and North America, fewer bad debts and cost-cutting helped HSBC post sharply higher first-quarter results yesterday. After adjusting for debt, investments and disposals, pre-tax profit surged 95 per cent to US$8.4 billion. The average analyst forecast was US$8 billion.

8 May 2013 - 5:18am 1 comment

HSBC expected to report big surge in profit

Although strong earnings are expected for the quarter, HSBC is seen as too large and may announce measures to lower costs. Photo: EPA

HSBC may post first-quarter pre-tax profit of US$8 billion, 80 per cent higher than in the previous quarter, according to an average estimate of five analysts.

7 May 2013 - 3:56am

Talking points

HSBC releases first-quarter results

HSBC releases first-quarter results

7 May 2013 - 2:22am

HSBC sells stake in Korean insurer

HSBC sells stake in Korean insurer

The banking giant said its subsidiary HSBC Insurance (Asia-Pacific) had agreed to sell its 50 per cent less one share in Hana HSBC Life Insurance to Hana Financial Group.

30 Apr 2013 - 7:28am

True universal suffrage would avoid a lot of the brewing unrest

Benny Tai

The absurdity of the arrangements surrounding the election of the chief executive in 2017 is rapidly becoming apparent. Our leaders in Beijing don't want anyone running Hong Kong who is going to cause them trouble, whatever form that may take.

30 Apr 2013 - 4:28am 4 comments