The Commerce Secretary and head of the Export-Important Bank urge Congress to put U.S. businesses first and reauthorize the bank.» Read More
Dick Bove, Rafferty Capital, says despite interest rate fears, there is a tremendous amount of value in bank stocks that is not being recognized.
Virgin Money is hawking a line of credit cards featuring two of the iconic punk band’s albums.
Headlines about Mexico have been dominated by violence, corruption and weak growth. However, the country's fortunes may be revived, with banks like HSBC interested in investing.
*Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...
HSBC's name has previously had a good reputation, but recently it has been unnecessarily "overly-tarnished" by its business strategy, John Mann MP, former member of treasury select committee, said.
Germany's biggest bank was searched by German prosecutors on Tuesday as part of an investigation in securities transactions by clients.
LONDON, June 9- HSBC said it would cut up to 8,000 British jobs and rebrand its UK retail banking unit, which it could sell in response to new rules stating such businesses must be separate from investment banking in order to protect customers. HSBC CEO Stuart Gulliver said on Tuesday that between 7,000 and 8,000 jobs, or about one in six of its staff, would be cut by "...
HSBC's chief executive, Stuart Gulliver, said that while Turkey and Brazil have limited value for HSBC, Mexico may be their "golden goose" for potential strong growth.
HSBC will cut costs by as much as $5 billion, laying off as many as 25,000 staff, the banking behemoth has told investors.
John Mann, Labour MP and former member of the UK's Treasury Select Committee, says HSBC is suffering as a result of many self-inflicted wounds.
CNBC's Geoff Cutmore and Catherine Boyle report from outside the HSBC headquarters in London as the bank announces huge labour and cost cuts.
Kian Abouhossein, head of EMEA banking research at JPMorgan, talks about the cost challenges facing HSBC.
HSBC's plans to accelerate its investments in Asia is a move back to basics, which will be welcomed by investors, says Nick Nelson, head of European Equity Strategy at UBS.
With plans like the sale of Brazil and Turkey units widely expected, the announcement won't move HSBC's stock significantly, says King Lip, chief strategist at Baker Avenue Asset Management.
With HSBC's announcement being "pretty much expected" thus far, King Lip, chief strategist at Baker Avenue Asset Management, hopes the bank can discuss more about its money-losing U.S. division.
Cyrus Daruwala, managing director, Asia Pacific at IDC Financial Insights, says HSBC will likely "take the safe route" at Tuesday's strategy meeting.
Jim Antos, bank analyst at Mizuho Securities Asia, says traders expecting dramatic announcements from HSBC's update on late Tuesday may be disappointed.
LONDON- Bank of England regulator David Bailey takes part in panel discussion at FIA derivatives conference- 1030 GMT. FRANKFURT- ECB Governing Council member Jens Weidmann to give welcome remarks at Bundesbank lecture- 0800 GMT. HELSINKI- European Central Bank council member Erkki Liikanen to speak on monetary policy at a conference organized by Finland's...
June 8- The Federal Reserve Bank of Minneapolis on Monday launched a search for a "strategic thought leader" to replace current president Narayana Kocherlakota, who is returning to academia after years of failing to persuade colleagues in the U.S. central bank to support more accommodative monetary policy. Kocherlakota, a university professor before...
*Atmel jumps on M&A report. June 8- U.S. stocks ended lower on Monday as investors worried about Greece and mulled the prospect of the Federal Reserve raising interest rates as early as September. The market is cringing at that idea, "said Frank Davis, director of sales and trading at LEK Securities in New York.