Most Asian Stock Markets Decline on Profit Concern; Rio, Hon Hai, DBS Fall Dec 22, 2008
HSBC Holdings Plc declined in Hong Kong after Standard & Poors gave Europes largest bank a negative outlook. Chinas lost 1. (Bloomberg -- Asia)
* S&P lowers credit ratings of 11 banks in US and Europe Dec 21, 2008
S revised its outlook on British giant HSBC Holdings and a number of its subsidiaries to negative from stable. The downgrades and revised outlooks reflect our view of the significant pressure on large complex financial institutions future performance due to increasing bank industry risk and the deepening global economic slowdown, the ratings agency said in a statement. (Taipei Times, Taiwan -- World)
* Stock markets in Europe tumble, led by financial firms Dec 21, 2008
HSBC Holdings Plc slipped 16 percent. CLSA Asia-Pacific Markets said Europes largest bank may seek to raise about US$14 billion as increasing bad-loan provisions erode profits. (Taipei Times, Taiwan -- World)
Foreign deal makers expect a difficult year in China Dec 21, 2008
Globally, private equity firms like Carlyle and Kohlberg Kravis Roberts have increasingly pursued all-cash deals as Western banks like Citigroup and HSBC Holdings have pulled back on corporate lending in the credit crisis. Maurice Hoo, a lawyer specializing in global private equity investments in China with the law firm Paul Hastings, said the new loan policy could increase domestic industry consolidation, especially in sectors favored by Beijing, like clean energy. (International Herald Tribune -- Business)
S&P slashes ratings of 11 global banks Dec 20, 2008
S&P also revised its outlook on British giant HSBC Holdings and a number of its subsidiaries to negative from stable. "The downgrades and revised outlooks reflect our view of the significant pressure on large complex financial institutions' future performance due to increasing bank industry risk and the deepening global economic slowdown,'' the ratings agency said. But it added that significant government intervention intended to stabilize the banking sector and restore public confidence "may... (Sydney Morning Herald -- Business)
S&P cuts 11 top global bank credit ratings Dec 20, 2008
In Europe, Sed one notch off the ratings of Barclays , Credit Suisse, Deutsche Bank, Royal Bank of Scotland and UBS. It kept the rating of HSBC Bank, part of HSBC Holdings Plc, at AA but downgraded its outlook to negative from stable. HSBC Holdings PLC. (Globe and Mail -- Business)
Madoff-Mania Creates Chaos for Neighbors, Deliverymen on East 64th Street Dec 20, 2008
Investors who may face losses include HSBC Holdings Plc. Yeshiva University and s Wunderkinder Foundation. (Bloomberg -- US)
Sri Lanka Central Bank Keeps Key Rates Unchanged, May Ease Borrowing Costs Dec 19, 2008
With inflation coming off given the collapse in commodity prices and softer demand at home on account of tight monetary policy, and at the same time a deteriorating growth outlook, we do think the time is getting ripe to ease the policy stance,'' Prakriti Sofat, an economist at HSBC Holdings Plc in Singapore, said in a note. Consumer-price gains in the capital Colombo eased for a fifth month in November to 16. (Bloomberg -- Asia)
Feds Take Swipe At Credit Card Rules Dec 19, 2008
The biggest lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase Capital One Financial Corp., American Express Co. and HSBC Holdings. I would be better off going to the mob for money. (CBS News)
New rules to protect credit card holders Dec 19, 2008
The biggest lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings. Sen. (Insight on the News)
Enter Offshore Expat Christmas Prize Draw Dec 19, 2008
As part of HSBC Holdings plc, HSBC Bank International has the experience to offer customers living and working abroad tailored offshore financial solutions. For more information visit. (Yahoo News -- Press Releases)
HK shares open down 1.7 pc as HSBC drops Dec 19, 2008
7 percent on Friday, snapping a four-day rally, led by further losses in HSBC Holdings on worries about recapitalisation and credit deterioration. Chinese refiners are also set to slip on Beijing's fuel price cut. (India Times)
Credit card issuers face new rules and limits Dec 19, 2008
The biggest lenders include Discover Financial Services, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings. Under the new rules, credit card lenders will be required to apply any payment above the minimum to the part of the balance with the highest interest rate. (OregonLive, OR -- Business)
Regulators adopt new credit card rules Dec 19, 2008
The biggest lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings. "The regulations affect a lot of things. Some of the things we don't do, never did, and some of the things will affect us," David Nelms, CEO of Riverwoods, Ill. (International Herald Tribune)
A look at the details Dec 19, 2008
The biggest lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase Capital One Financial Corp., American Express Co. and HSBC Holdings. "The regulations affect a lot of things. Some of the things we don't do, never did, and some of the things will affect us," David Nelms, CEO of Riverwoods, Ill. (AZCentral -- Business)
Banks Threaten to Scuttle Canadian C$32 Billion Commercial Paper Plan Dec 19, 2008
The non-Canadian banks, which include and HSBC Holdings Plc, agreed last year not to demand collateral tied to the paper while holders worked out a restructuring. Peter Howard, who represents the banks, told an Ontario judge today that his clients wont extend the accord past tomorrow. (Bloomberg -- Canada)
Paperlinx Will Breach Lending Convenants on Delay of European Asset Sales Dec 19, 2008
The company is in talks to renegotiate its debt with Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank Ltd., Australia & New Zealand Banking Group Ltd., Deutsche Bank AG and HSBC Holdings Plc, spokesman said in a telephone interview from Melbourne. a spokesman for Commonwealth Bank, declined to comment on the size of its loans to Paperlinx; spokesmen for ANZ, National Australia and Westpac didnt respond to phone calls seeking comment. (Bloomberg -- Australia & New Zealand)
The Madoff Money Trail Dec 18, 2008
HSBC Holdings PLC, London: $1,000,000,000. Natixis, France: $617,000,000. (CBS News)
HK shares to open down 0.8% led by HSBC Dec 18, 2008
8 percent on Thursday with index heavyweight HSBC Holdings set to open 4 per cent lower on concerns over dividend cuts and potential capital raising at Europe's largest bank. China Communications Services will open 5. (India Times)
Did you lose money? Dec 18, 2008
Fairfield Greenwich Group $7,500,000,000 Grupo Santander SA $3,200,000,000 HSBC Holdings PLC $1,000,000,000 Natixis $617,000,000 Royal Bank of Scotland Group PLC $612,000,000 BNP Paribas $480,000,000 BBVA $452,000,000 Man Group PLC $360,000,000 Reichmuth 32,000,000 Nomura Holdings $304,000,000 Unicredit $103,000,000 Union Bancaire Privee "hundreds of millions of dollars" Benedict Hentsch A $48,300,000 Fairfield Town Employees Board and Police and Fire Board (Fairfield, CT) $41,900,000 Mortimer... (The Palm Beach Post)
US regulators adopt new credit card rules Dec 18, 2008
The biggest lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings. The head of the American Bankers Association called the changes "strong new regulations ... (that are) unprecedented in their scope and signal the beginning of a new market structure for credit cards.". (International Herald Tribune -- Arts)
EEUU investiga prolongada ausencia de supervisión a Madoff Dec 17, 2008
Entre las instituciones bancarias m;s grandes que entregaron inversiones a Madoff figuran HSBC Holdings PLC, de Gran Breta;a, Royal Bank de Escocia, el grupo Santander de Espa;a, BNP Paribas de Francia y Nomura Holdings de Jap;n. El presidente de la SEC afirm; que Madoff ten;a varios libros contables y documentos falsos, adem;s de que proporcionaba informaci;n falsa relacionada con sus actividades de asesor;a a inversionistas y reguladores. (OregonLive, OR -- Business)
Stocks extend gains after Federal Reserve's historic rate decision Dec 17, 2008
Firms invested in his fund include such major European banks as HSBC Holdings PLC, Banco Santander, BNP Paribas, and Royal Bank of Scotland Group PLC.. Markets overseas were mixed. (Honolulu Advertiser)
$50B Ponzi scheme duped who's who list of investors Dec 17, 2008
The potential losses in what Madoff last week told the FBI was a $50 billion scam ranged from an estimated $1 billion exposure for Britain's HSBC Holdings, to $6 million gone for Irwin Kellner, a New York economist and plaintiff in the first proposed class-action lawsuit in the case. "The scope is stunning in the breadth of categories of individuals and institutions that have been caught up," said Mark Mulholland, a lawyer for Kellner. (Honolulu Advertiser)
Madoff Falsified Books to Hide Losses Dec 17, 2008
A variety of investors have been identified as having lost money in the scam, including Spain's Grupo Santander SA, Britain's HSBC Holdings PLC and New York Mets owner Fred Wilpon. More victims emerged Tuesday, including Rye Investment Management, of Rye, N.Y., which lost $3. (Newsmax)
Alleged Madoff fraud caught big names Dec 16, 2008
Among the world's biggest banking institutions, Britain's HSBC Holdings, Royal Bank of Scotland Group and Man Group, Spain's Grupo Santander, France's BNP Paribas and Japan's Nomura Holdings all reported that they had fallen victim to Madoff's alleged Ponzi, or pyramid, scheme. The 70-year-old Madoff, well respected in the investment community after serving as chairman of the Nasdaq Stock Market, was arrested Thursday in what prosecutors say was a $50 billion scheme to defraud investors. (San Francisco Chronicle -- Business)
HSBC says it has $1 billion exposure to Madoff Dec 16, 2008
By MarketWatch Last update: 2:43 a.m. EST Dec. 16, 2008 HONG KONG (MarketWatch) -- Hong Kong-listed shares of HSBC Holdings traded modestly lower Tuesday after it emerged the bank ranks as one of the biggest victims of the funds fiasco linked to Bernard Madoff, the fund manager charged with securities fraud last week. HSBC, Europe's largest bank and headquartered in London, said it has combined exposure of about $1 billion, having provided financing to a small number of institutional clients who... (MarketWatch)
Judge Signs Order to Protect Madoff Investors Dec 16, 2008
Several major banks including Spain's Grupo Santander SA, Britain's HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Man Group PLC, France's BNP Paribas and Japan's Nomura Holdings reported falling victim to Madoff's alleged Ponzi scheme. Other major investors also lost out in the scam, including former Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin and the chairman of GMAC Financial Services. (Fox News)
Investors May Get Protection From Government... Dec 16, 2008
Several major banks including Spain's Grupo Santander SA, Britain's HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Man Group PLC, France's BNP Paribas and Japan's Nomura Holdings reported falling victim to Madoff's alleged Ponzi scheme. . (The Drudge Report)
Stocks End Lower as Madoff Victim List Grows Dec 16, 2008
Firms with exposure include HSBC Holdings PLC, Banco Santander, BNP Paribas, Royal Bank of Scotland Group PLC and hedge fund Man Group PLC. And the list of prominent investors keeps growing. "This is a massive fraud taking down very intelligent people, very sophisticated investors and it just leaves you a little bit shaky in terms of who's really monitoring the store," said Jay Wong, principal and portfolio manager of Los Angeles-based money manager Payden. (ABC News -- Wire)
* HSBC to shed 300 jobs in Taiwan as recession hits hard Dec 16, 2008
According to Bloomberg, parent HSBC Holdings Plc cut 500 jobs in Asia last month. It also fired 1,100 workers in its global banking and markets division in September. (Taipei Times, Taiwan -- World Business)
Juez de EEUU arroja salvavidas a posibles víctimas de Madoff Dec 16, 2008
Entre las instituciones bancarias m;s grandes que dieron dinero a Madoff figuran HSBC Holdings PLC, de Gran Breta;a, Royal Bank de Escocia, el grupo Santander de Espa;a, BNP Paribas de Francia y Nomura Holdings de Jap;n. Madoff, de 70 a;os, era un banquero de inversiones muy respetado luego de ser presidente de la bolsa de valores Nasdaq. (OregonLive, OR -- Business)
Madoff Impacts Markets Dec 16, 2008
The financial sector was certainly in focus Monday as more Bernard Madoff victims came forward: banks and investment funds around the world, including Britain's HSBC Holdings (nyse: - - ), with exposure of around $1 billion dollars--making it one of the biggest victims of the alleged $50 billion fraud. Article Controls. (Forbes -- Markets)
Shockwaves spread from Madoff scandal Dec 16, 2008
HSBC Holdings was the latest bank to join the growing list, saying it had exposure of around $1 billion (663 million pounds), making it one of the biggest victims of the alleged $50 billion fraud. Royal Bank of Scotland Group and Man Group, Japan's Nomura Holdings Inc and France's Natixis SA also said they were hit by the worldwide scandal. (International Herald Tribune)
From Paris to Tokyo, more Madoff victims emerge Dec 16, 2008
HSBC Holdings, Europe's largest bank by market value, may have about $1 billion at stake, The Financial Times said, citing people close to the situation. Brendan McNamara, a spokesman for HSBC, declined to comment on the matter. (International Herald Tribune)
HSBC shares dip Dec 16, 2008
HSBC Holdings shares dipped over 2 percent on Tuesday as talk swirled it could have to raise up to $14 billion (9. 2 billion pounds) to rebuild capital, dealers said. (International Herald Tribune)
U.S. prosecutors try to determine the extent of a trader's vast losses Dec 16, 2008
On Monday, HSBC Holdings, the global bank based in Britain, said it had $1 billion at risk after providing financing to funds that invested with Madoff. Multimedia. (International Herald Tribune -- Money Report)
Alleged scam's victims list includes famous names Dec 16, 2008
The latest potential losses in what Madoff last week told the FBI was a $50 billion scam ranged from an estimated $1 billion exposure for Britain's HSBC Holdings, to $6 million gone for Irwin Kellner, a New York economist and plaintiff in the first proposed class-action lawsuit in the case. "The scope is stunning in the breadth of categories of individuals and institutions that have been caught up," said Mark Mulholland, a lawyer for Kellner. (USA Today -- Money)
Stocks rise ahead of Fed rate decision Dec 16, 2008
Firms invested in his fund include such major European banks as HSBC Holdings, Banco Santander, BNP Paribas, and Royal Bank of Scotland Group. Demand for government bonds remained high early on Tuesday. (USA Today -- Money)
Victims of Madoff's alleged Wall Street scam spread to Europe Dec 16, 2008
The Financial Times reported that HSBC Holdings Plc had emerged as one of the Wall Street fund managers largest possible victims, with potential exposure of about $1 billion. HSBC has yet to comment. (USA Today -- Money)
TOPWRAP 2-Fed set to halve rates; Japan, China may act too Dec 16, 2008
Among those affected were Britain's HSBC Holdings Plc, Royal Bank of Scotland and Man Group, Japan's Nomura Holdings and France's Natixis SA. (Reporting by Reuters bureaus worldwide; Writing by Tomasz Janowski; Editing by Neil Fullick). . (guardian.co.uk)
Aozora Says It Has $137 Million at Risk Linked to Bernard Madoff's Funds Dec 16, 2008
5 billion yen at risk linked to Madoffs investment funds while HSBC Holdings Plc, Europes biggest bank, said it had $1 billion under threat. Madoff was arrested Dec. 11 and accused by prosecutors and regulators at federal court in Manhattan of operating a long- running Ponzi scheme at his companys business advising rich people, hedge funds and institutions. (Bloomberg -- Japan)
Asian stocks rise as China boosts lending Dec 15, 2008
HSBC Holdings Plc, Europes largest bank, rose 3. 8% to HK$85. (Sydney Morning Herald -- Business)
Firms exposed to Madoff's alleged fraud Dec 15, 2008
HSBC HOLDINGS PLC has potential exposure of about $1. 5-billion, the Financial Times reported, citing unnamed people close to the situation. (Globe and Mail -- Business)
Barclays Plans to Boost Lending to Small Businesses by 1.5 Billion Pounds Dec 15, 2008
HSBC Holdings Plc, Europes largest bank, earlier this month created a $5 billion fund to boost access to credit for businesses, with $1. 5 billion allocated to U.K. customers. (Bloomberg -- UK)
Madoff's `Giant Ponzi Scheme' Drew Hedge Funds, Banks, Foundations: Table Dec 15, 2008
2 million Company statement Investments & Financial Services Ltd. HSBC Holdings Plc $1 billion Financial Times Julian J. Levitt $6 million Washington Post Foundation Kingate Management Ltd. $3. 5 billion Bloomberg News, Bloomberg Data Korea Life Insurance Co. $50 million Yonhap News Korea Teachers Pension $9. (Bloomberg -- US)
Michelin-Listed Noodle Restaurant Offers 13 Cent Meal as Recession Bites Dec 12, 2008
Companies including HSBC Holdings Plc and Television Broadcasts Ltd. are axing jobs, sending the to the highest level since November 2007. Robuchon a Galera. (Bloomberg -- Asia)
Société Générale and Barclays cleared in French money-laundering case Dec 12, 2008
Groupe Banque Populaire bought the regional bank from HSBC Holdings in July 2008. The lenders were among four banks and about 150 companies and individuals tried for money laundering in the so-called Sentier Affair, named after the Paris garment district. (International Herald Tribune -- Business)
Asian Markets Plunge After Car Bailout Fails Dec 12, 2008
TO), Citigroup Inc. (C), HSBC Holdings PLC (HBC), Honda Motor Co. Ltd. (HMC), (HSBA.LN), (ISUZY), Kookmin Bank (KB), Nomura Holdings Inc. (NMR), Nissan Motor Co. Ltd. (NSANY), Toyota Motor Corp. (TM), (GB000540), (HK000000), (JP313720), (JP316764), (JP339720), (JP363340), (JP367240), (JP376260), (JP385460), (JP386840), (US172967), (US404280), (US438128), (US465254), (US48241A), (US578787), (US654744), (US65535H), (US892331), (XC000969), ) at SmartMoney ... Market heavyweight HSBC Holdings (HBC)... (SmartMoney)
Indonesia Dollar Bonds Discounted for Government Default Lure Fortis Fund Dec 10, 2008
The governments dollar-denominated bonds have lost 31 percent this year, according to indexes compiled by HSBC Holdings Plc, as slowing global economic growth and the seizure of credit markets drove investors away from emerging-market securities. Only Pakistans debt has done worse among the 11 Asian dollar indexes compiled by HSBC, dropping 51 percent. (Bloomberg -- Asia)
FTSE 100 Index Declines; HSBC, Vodafone and BG Shares Lead the Retreat Dec 9, 2008
Declines in the FTSE 100 were led by Hsbc Holdings Plc (Hsba Ln), Vodafone Group Plc (Vod Ln) and Bg Group Plc (Bg/ Ln). About 15. (Bloomberg -- UK)
Obama Bonds Poised to Give Investors Taste of Japan From Lost Decade Debt Dec 9, 2008
London-based HSBC Holdings Plc and New York-based Citigroup Inc., which like JPMorgan are among the 17 primary dealers of U.S. government securities that trade with the Fed, also predict the rate will go to zero. Payrolls Slashed. (Bloomberg)
HSBC Holdings Reportedly To Up U.K. Mortgage Lending ... Dec 8, 2008
HSBC Holdings Reportedly To Up U.K. Mortgage Lending Funding - FOXBusiness ... HSBC Holdings Reportedly To Up U.K. Mortgage Lending Funding ... LONDON -- HSBC Holdings is planning to increase funding available for U.K. mortgage lending by 20% to 15 billion pounds in 2009, the Wall Street Journal reported. (Fox News)
* HSBC allocates funds for small and medium firms Dec 8, 2008
HSBC Holdings Plc, Europes largest bank, created a US$5 billion fund to increase access to credit for small and medium-sized businesses. A total of G1 billion (US$1. (Taipei Times, Taiwan -- World)
HSBC to hike UK mortgage fund by 20 pct - WSJ Dec 8, 2008
Dec 8 (Reuters) - HSBC Holdings (HSBA.L: , , , ) said it plans to increase the amount of funding it makes available for UK mortgages by 20 percent to 15 billion pounds ($22. 07 billion) in 2009, the Wall Street Journal reported. (Reuters)
Stocks Post Biggest Rally in 2 Weeks on Hopes Obama to Lift U.S. Spending Dec 8, 2008
9 percent to 305 yen, boosted by an upgrade to neutral from HSBC Holdings Plc. Aeon Rallies. (Bloomberg -- Japan)
Losses May Not Mean End of Credit Suisse Investment Banking Dec 7, 2008
The New York Times reported this week that the U.S. Department of Justice has expanded its criminal investigation into foreign banks that sell offshore private banking services to include Credit Suisse and HSBC Holdings Plc, citing people briefed on the matter. (Reporting by Sam Cage; Editing by Ron Askew). (ABC News -- Wire)
HSBC creates fund for small businesses Dec 7, 2008
HSBC Holdings has created a $5 billion (3. 4 billion pound) global working capital fund for small and medium-sized businesses to help them weather the credit crisis, the bank said on Sunday. (International Herald Tribune)
HSBC buys back London HQ Dec 5, 2008
LONDON HSBC Holdings Plc said Friday it has bought back its London headquarters from Spanish real estate company Metrovacesa S.A. for 838-million ($1 ... HSBC Holdings shares were down 0. (Globe and Mail -- Business)
Resolution Raises $881 Million in IPO, May Sell Extra Shares With Option Dec 5, 2008
Citigroup Inc., HSBC Holdings Plc and Merrill Lynch & Co. are underwriting the placing. Lazard & Co. is advising Resolution, the company said. (Bloomberg -- UK)
Bally files again for bankruptcy protection, puts itself on block Dec 4, 2008
The banking units of U.S. Bancorp and HSBC Holdings PLC are Bally's largest unsecured creditors, with respective claims of $247. 3 million and $231. (Crain's Chicago Business)
Britain takes more measures to stabilize housing Dec 4, 2008
HBOS, Royal Bank of Scotland, Nationwide Building Society, Lloyds TSB, HSBC Holdings and Barclays were among lenders who had agreed to the package. They have been reducing home loans because of the crisis. (International Herald Tribune)
Prudential to bid for AIG Japan units Dec 3, 2008
The desire to tap that pool has brought in big overseas financial firms such as HSBC Holdings Plc and Citigroup Inc.. Insurers have also been drawn by the country's rapidly ageing population. (Globe and Mail -- Business)
Credit Suisse, HSBC to terminate hundreds of jobs Dec 3, 2008
Zurich - Switzerland's Credit Suisse and Britain's HSBC Holdings are axing hundreds of banking jobs as the global financial crisis continues to bite. The cuts are the latest in a wave of job losses, in which about 90 000 positions have been axed at major global banks since September. (Business Report, South Africa)
Asian Stocks Slump, Extending Global Rout, as Recession Deepens; JFE Drops Dec 2, 2008
4 percent after HSBC Holdings Plc raised rates on new home loans by the most in 10 years. Most other Asian benchmark indexes retreated. (Bloomberg -- Asia)
