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HSBC Holdings PLC

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  • *Performance beat expectations, follows HSBC flash survey showing recovery. SHANGHAI, March 1- Weakness in China's vast manufacturing sector, aggravated by high real borrowing costs and weak demand, appears to have driven the central bank to accelerate the pace of monetary easing to ward off deflation in the world's second-largest economy.

  • *Numbers came out right after China c.bank cut rates. SHANGHAI, March 1- Hours after China's central bank cut interest rates to battle slowing growth and rising deflationary risk, an official survey showed on Sunday that activity in China's factory sector contracted for a second straight month in February. Accounting for 48 percent of China's $10.2 trillion...

  • BEIJING, March 1- Activity in China's factory sector contracted for a second straight month in February on unsteady exports and slowing investment, an official survey showed on Sunday, reinforcing bets that more policy loosening is needed to lift the economy. Accounting for 48 percent of China's $10.2 trillion economy last year, the services sector has...

  • NEW DELHI, Feb 28- India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. Illegal deposits abroad cost India billions of dollars in lost revenue and Prime Minister Narendra Modi's...

  • *Gold up 0.3 pct on week, could end 4- week losing streak. LONDON, Feb 27- Gold steadied on Friday, due to a softer dollar, but was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat U.S. data supported expectations of a rate hike by the Federal Reserve this year. Gold has fallen more than 7 percent from a...

  • *Gold up 0.3 pct on week, could end 4- week losing streak. LONDON, Feb 27- Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat U.S. data supported expectations of a rate hike by the Federal Reserve this year. Gold has fallen more than 7 percent from a five-month high above...

  • LONDON, Feb 27- The stark choice faced by Britons in May's national election is summed up nowhere more clearly than by the two men vying to be finance minister. The Conservatives' George Osborne, 43, and Labour's Ed Balls, 48, have helped define what their parties stand for. "We are getting a genuinely significant choice," said Paul Johnson, director of the Institute...

  • *Gold down nearly 6 pct in Feb, biggest monthly loss since Sept. SINGAPORE, Feb 27- Gold advanced for the third session on Friday and was on track to end a four-week losing streak, supported by firm Chinese demand and a change in views on U.S. interest rates, with some again betting that an increase would not be delayed. Gold has fallen more than 7 percent from a five-month...

  • Global stocks higher on Chinese, German data Thursday, 26 Feb 2015 | 3:19 AM ET

    SEOUL, South Korea— Global stocks were mostly higher Thursday on upbeat corporate earnings and rising Chinese factory output after the chairwoman of the U.S. KEEPING SCORE: Britain's FTSE 100 was nearly flat at 6,937.52 while Germany's DAX inched up 0.1 percent to 11,221.95. ASIA'S DAY: Japan's Nikkei 225 rose 1.1 percent to 18,785.79 while Hong Kong's Hang...

  • SYDNEY/ TOKYO, Feb 26- The dollar nursed modest losses on Thursday, having eased for a second straight session after recent remarks from the head of the Federal Reserve prompted markets to push back the timing of an expected U.S. interest rate hike. The euro edged up to $1.1364, up from this week's trough of $1.1288, but remained stuck in a $1.12- $1.15 range held since...

  • CARACAS, Feb 25- Venezuela will ask British bank HSBC Holdings PLC for a list of state officials who have accounts in its Swiss subsidiary, a prosecutor said on Wednesday, following media reports that Venezuelans were among the bank's leading clients. Venezuela and its citizens had some $14.8 billion in assets in HSBC's Swiss private banking arm in 2007, the...

  • *Decline in Apple weighs on S&P and Nasdaq. NEW YORK, Feb 25- Wall Street lagged a rise in global markets on Wednesday, with the S&P 500 and the Nasdaq closing slightly lower even as energy shares gained along with a surge in oil prices. On Wall Street, a sharp drop in shares of Apple Inc took a toll on the S&P 500 and Nasdaq, but the Dow marked another record closing high,...

  • *Saudi Arabia's oil minister said sees demand improvement. NEW YORK, Feb 25- Brent crude oil futures surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected. Brent April crude rose $2.97 to settle at at $61.63 a barrel.

  • LONDON, Feb 25- HSBC bosses rejected calls from British lawmakers for them to quit over the bank's Swiss tax scandal, but said they were having to clean up after a "terrible list" of control and compliance failings. HSBC Chairman Douglas Flint and Chief Executive Stuart Gulliver told a panel of UK lawmakers they shared collective responsibility for failings at...

  • MSCI world index strains for all-time high. *Brazil's Bovespa falls, Petrobras hit. Following Wall Street's gains on Tuesday and more rises in Asia overnight, MSCI's 46- country world index was up 0.18 percent at 433.63 points and veering closer to the 434.24 all-time peak it scaled in September.

  • *Saudi Arabia's oil minister said sees demand improvement. NEW YORK, Feb 25- Crude oil futures rose on Wednesday after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected. Brent April crude was up $1.34 at $60.00 a barrel at noon EST.

  • *MSCI world index strains for all-time high. *Gold rebounds from 7- week low plumbed in previous session. Federal Reserve Chair Janet Yellen suggesting that the U.S. central bank is in no rush raise interest rates.

  • HSBC has a 'terrible list of problems': chairman Wednesday, 25 Feb 2015 | 10:55 AM ET

    Douglas Flint admits to UK parliamentary committee that oversees the financial industry that he couldn't rule out further scandals.

  • "It's a terrible list," HSBC Chairman Douglas Flint said when a UK member of parliament read out the recent fines and investigations involving the bank at a panel hearing where Flint was being questioned. The latest allegations around HSBC's Swiss bank have damaged its reputation and caused a political storm in Britain ahead of an election in May.

  • LONDON, Feb 25- Twenty years after Nick Leeson brought down Britain's oldest investment bank, the rogue trader immortalised in book and film says little has changed in an industry that continues to throw up one scandal after another. Leeson, whose $1.4 billion loss as a Singapore- based junior derivatives trader led to the 1995 collapse of Barings Bank and earned...