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HSBC Holdings PLC

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  • HSBC Chairman grilled over Swiss cash withdrawals  Wednesday, 25 Feb 2015 | 9:15 AM ET

    UK parliamentary members ask HSBC Chairman Douglas Flint whether large cash withdrawals at the bank's Swiss branch were flagged up as suspicious.

  • HSBC: 'Most transparent bank'?  Wednesday, 25 Feb 2015 | 9:15 AM ET

    Douglas Flint, Chairman of HSBC, talks about HSBC's transparency and whether the risk committee can handle these risks at board level.

  • HSBC CEO followed UK non-domicile rules  Wednesday, 25 Feb 2015 | 9:15 AM ET

    Stuart Gulliver, CEO of HSBC, is asked about his UK residency in relation to his time spent in Hong Kong, adding that he had absolutely followed "the letter of the law" when it came to the UK non-domicile rules.

  • Papaconstantinou, who served under former socialist premier George Papandreou in 2009-2011, showed no emotion as he appeared before a special court in Athens. They are among the names of holders of HSBC accounts in Switzerland obtained by France in 2010 when Christine Lagarde, now the International Monetary Fund chief, was the country's finance minister.

  • LONDON, Feb 25- More than 60 central banks hold China's yuan in their currency reserves and the amount held there and in sovereign wealth funds should grow by $500 billion over the next five years, China- focused bankers said on Wednesday. Speaking at an Association for Financial Markets in Europe conference in London, Massimiliano Castelli, UBS Asset...

  • *MSCI world index strains for all-time high. *Gold rebounds from 7- week low plumbed in previous session. Following Wall Street's gains on Tuesday and more rises in Asia overnight, however, MSCI's 46- country world index was up 0.1 percent at 433.29 points and straining for the 434.24 all-time peak it scaled in September.

  • UPDATE 6-Oil rises to $59 as Saudis say demand growing Wednesday, 25 Feb 2015 | 7:07 AM ET

    *China factory sector at 4- month high in Feb- PMI. LONDON, Feb 25- Brent crude oil rose to around $59 a barrel on Wednesday after data showed Chinese factories were producing more than expected and Saudi Arabia's oil minister said oil demand was growing. China is the world's biggest energy consumer and second largest user of oil behind the United States, and even...

  • *Saudi Arabia's oil minister says markets are calm. LONDON, Feb 25- Brent crude held steady around $59 a barrel on Wednesday as Saudi Arabia's oil minister said oil demand is growing and markets are calm. "Markets are calm now... demand is growing," said minister Ali al-Naimi, the driving force behind OPEC's shift in policy at its November meeting, when the group decided...

  • Too big to manage? HSBC's chiefs grilled over tax scandal Wednesday, 25 Feb 2015 | 4:56 AM ET

    HSBC, Europe's biggest bank, has endured a string of scandals and paid billions in penalties to regulators around the world. But recent revelations that its Swiss private bank helped the wealthy evade taxes are raising new questions about whether big banks like HSBC have become too vast to manage— and who should be accountable when things go wrong.

  • *MSCI world index strains for all-time high. *Gold rebounds from 7- week low plumbed in previous session. Following more rises for Wall Street and in Asia overnight, MSCI's 46- member All Country World Index was up 0.2 percent at 433.74 points and straining for the 434.24 all-time peak it scored back in September.

  • HSBC bosses to face parliamentary grilling  Wednesday, 25 Feb 2015 | 4:20 AM ET

    John Thurso MP, and member of the U.K. Treasury Select Committee, discusses the tax avoidance allegations against HSBC ahead of a grilling of the bank's top bosses.

  • Hong Kong shares end flat amid economy concerns Wednesday, 25 Feb 2015 | 3:13 AM ET

    HONG KONG, Feb 25- Hong Kong shares erased early gains to finish flat, with investors shrugging off better-than-expected China industrial data that only partly alleviates concerns about slowing growth in the world's second-largest economy. Shares of casino operators dived, with Galaxy Entertainment and Sands China both dropping more than 5 percent.

  • Greek former finance minister on trial over Lagarde List Wednesday, 25 Feb 2015 | 2:34 AM ET

    ATHENS, Greece— Former Greek finance minister George Papaconstantinou was appearing in court Wednesday at the start of a criminal trial against him on allegations he removed relatives' names from a list of Greeks holding Swiss bank accounts in HSBC. The Lagarde List of about 2,000 people was named after Christine Lagarde, who was France's finance minister at...

  • HSBC bosses to face grilling from lawmakers  Wednesday, 25 Feb 2015 | 1:15 AM ET

    Stewart Hosie MP, member of the Treasury Select Committee, discusses what U.K. lawmakers are going to be asking the bosses of HSBC following revelations about the bank's tax arrangements.

  • SINGAPORE, Feb 25- Brent crude edged up towards $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on U.S. interest rates and the euro zone's approval of reforms proposed by Greece. Brent had climbed 16 cents to $58.82 a barrel by 0537 GMT, while U.S. crude futures fell 11 cents to $49.17 a...

  • *Market circumspect foreign investors can short sell China shares. SHANGHAI, Feb 25- China share markets held a soft tone on Wednesday as trading resumed after a week-long holiday, with some investors taking profits after an extended pre-holiday rally. "After seven consecutive days of index gains, the market is cautious after a long holiday given no fresh easing...

  • SINGAPORE, Feb 25- Brent crude rose marginally towards $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on U.S. interest rates and the eurozone's approval of reforms proposed by Greece. Brent added 22 cents to $58.88 a barrel by 0317 GMT, while U.S. crude futures fell 2 cents to $49.26 a...

  • HONG KONG, Feb 25- China's yuan edged down against the dollar on Wednesday after the central bank set a weaker midpoint, shrugging off stronger-than-expected factory sector activity in February. The flash HSBC/ Markit Purchasing Managers' Index inched up to a four-month high of 50.1 in February, a whisker above the 50- point level that separates growth in...

  • HONG KONG— China's manufacturing activity edged up to a four-month high in February although export orders decreased for the first time in nearly a year, in the latest sign of uncertainty for the world's No. 2 economy, according to a private survey Wednesday. The bank's chief China economist, Qu Hongbin, said the reading showed there was a "marginal improvement" in...

  • BEIJING, Feb 25- Activity in China's mammoth factory sector edged up to a four-month high in February but export orders shrank at their fastest rate in 20 months, a private survey showed, painting a murky outlook that argues for more policy support. The flash HSBC/ Markit Purchasing Managers' Index inched up to 50.1 in February, a whisker above the 50- point level...