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HSBC Holdings PLC

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  • LONDON, May 15- Blue chip banks could provide a bigger stimulus to Europe's flagging economy if they pared back low-return mortgage lending to pump more firepower into small business and consumer credit, the chairman of HSBC told Reuters. Douglas Flint, boss of Europe's largest bank, said policymakers and banks needed to reconsider the "natural long-term...

  • SHANGHAI, May 15- Falling tax revenue and the plodding pace of local governments' refinancing through municipal bonds means that China could face a serious fiscal squeeze on the local level, forcing Beijing to intervene more aggressively to avert a Chinese "fiscal cliff". China's money supply grew at is slowest pace on record in April while HSBC said in a report on...

  • May 15- Hong Kong stocks ended 2 percent higher on Friday, boosted by a sudden surge in afternoon trading on renewed hopes that a cross-border investment scheme between Hong Kong and Shenzhen will soon be announced. "Every weekend, there is speculation the Connect will be announced soon," said Alex Kwok, analyst at China Investment Securities.

  • *HSBC says Hong Kong stocks still interestingly valued. SHANGHAI, May 15- China stocks slumped on Friday morning after the securities regulator said the market has ample liquidity to handle more initial public offerings, with some interpreting it as a signal that IPO activity could be stepped up further. Xiao Gang, chairman of the China Securities Regulatory...

  • *Gold edges down but stays on track for hefty weekly rise. TOKYO, May 15- Asian shares edged down slightly but were still on track for a solid weekly rise, as investors awaited more U.S. data later in the session for clues on the timing of the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan was slightly lower, but still poised to gain about 0.6 percent for...

  • LONDON, May 14- Being one of the two most important global banks offers benefits to customers and greater resilience, but there is an increasing need to show shareholders that size matters, HSBC's chairman told Reuters. "The challenge and the responsibility of management is to demonstrate that scale has benefits," HSBC Chairman Douglas Flint said on Thursday at...

  • HONG KONG, May 14- Hong Kong's offshore yuan bond market rallied strongly in the past month, with the high-yield sector taking the lead, thanks to improved risk appetite and easing of tight liquidity that has lasted for months. The rally is likely to continue as China gets deeper into a policy easing cycle and more stimulus measures are expected to shore up the...

  • WASHINGTON/ NEW YORK, May 14- Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy. After years of being frozen out of the global banking system and...

  • Gold settles at highest in 1 month on US data Wednesday, 13 May 2015 | 2:20 PM ET

    Gold rose two percent to above $1,200 an ounce on Wednesday, heading for a second session of gains.

  • LONDON, May 13- Gold rose two percent to above $1,200 an ounce on Wednesday, heading for a second session of gains as the dollar hit a near three-month low after disappointing U.S. employment data. Spot gold hit a five-week high of $1,218 an ounce after the U.S. data and was trading up 1.9 percent at $1,217.60 an ounce by 1432 GMT. "A close above technical resistance at...

  • LONDON, May 13- Gold rose on Wednesday as the dollar weakened ahead of U.S. employment data and investors pushed back expectations of when the Federal Reserve will start raising interest rates. Spot gold rose 0.3 percent to $1,196.71 an ounce by 1149 GMT, after touching its highest in one week at $1,198.10. But it has remained in a narrow $20 range below $1,200 so far...

  • NEW DELHI/ MUMBAI, May 13- A surprise delay to India's first nationwide sales tax marks one of the most painful setbacks suffered by Prime Minister Narendra Modi's government as it nears the end of a first year in power, with markets falling and farmers braced for a poor monsoon. The introduction of the goods and service tax would constitute India's biggest tax...

  • LONDON, May 13- Gold steadied on Wednesday as the dollar weakened and investors pushed back expectations of when the Federal Reserve will start raising interest rates, but strong European shares curbed gains. Spot gold rose 0.1 percent to $1,193.40 an ounce by 0959 GMT, within reach of Tuesday's one-week high of $1,196.60. But it has remained in a narrow $20 range...

  • SINGAPORE, May 13- The combination of a strong U.S. dollar and low commodity prices should help emerging market stocks in North Asia extend their outperformance against peers elsewhere once the U.S. Stocks in China, South Korea and Taiwan have raced ahead this year, thanks in part to weak commodity prices reducing input costs for manufacturers, and a strong...

  • Chinese shares underperform after soft data Wednesday, 13 May 2015 | 3:23 AM ET
    Workers manufacture cotton yarn at a factory in Dali county, Shaanxi province, China.

    Chinese stocks retreated late Wednesday after a fresh batch of economic indicators came in just shy of expectations.

  • *Gold steady after near 1 percent overnight gain. SINGAPORE, May 13- Gold held on to overnight gains and was trading near its highest in a week on Wednesday, supported by a softer dollar, but rising bond yields and uncertainty over the timing of a possible U.S. rate hike kept the rally in check. Spot gold was steady at $1,193.60 an ounce by 0328 GMT, not too far from a...

  • US OK'd most Bill Clinton speech requests within days Tuesday, 12 May 2015 | 3:18 AM ET

    WASHINGTON— State Department officials under Secretary of State Hillary Rodham Clinton moved quickly when aides to Bill Clinton asked them in March 2010 to approve plans for the former president to address clients of a multinational British bank, Barclays. The long-running case had hardly been a secret: Barclays had openly acknowledged in its annual...

  • In a statement, House Financial Services Committee Chairman Jeb Hensarling, a Republican, said the documents being requested will help the panel understand whether banks might still be too big to fail and if this affects decisions to prosecute them criminally. A Justice Department spokeswoman said the department has "made great efforts" to accommodate the...

  • A handful of banks will likely resolve forex-rigging investigations by the U.S. Justice Department as soon as this week: JPMorgan Chase& Co Citigroup, British banks Royal Bank of Scotland and Barclays and Swiss bank UBS. Spokespeople for Citi, JPMorgan, RBS, UBS, and Barclays all declined to comment. If parent companies of U.S.-based JPMorgan and Citigroup plead...

  • *China cuts rates for 3rd time in 6 months, more steps seen. TOKYO, May 11- Asian shares rose on Monday as investors cheered China's latest cut to interest rates to bolster its flagging economy and as Wall Street rallied after a robust headline reading for U.S. employment. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent in early trade,...