Argentina's central bank on Tuesday ordered HSBC Argentina to name a new president and vice president within 24 hours, accusing the bank of failing to establish necessary controls to prevent tax evasion and money laundering.» Read More
Investment bankers have begun to develop ways in which banks might be able to circumvent the most punitive of the new capital rules being drawn up by international regulators.
Stocks pulled off a gain Tuesday after a see-saw session as techs and industrials gained, while energy and bank stocks were weak.
Stocks advanced Tuesday after a jump in consumer confidence and encouraging read on housing. Tech and telecom were the big trading story amid news that Apple's working on an iPhone that works on the Verizon network.
U.S. stock index futures poionted to a modest gain at the open on big news in the smartphone industry and ahead of reports on housing and consumer confidence.
Recently, Global Finance Magazine released its rankings for the best emerging market banks, which is based on a survey of industry analysts, corporate executives and banking consultants. The criteria for "best" bank includes growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products.
HSBC will take part in Bank of Communications' (BoCom) upcoming rights issue and is keen to increase its shareholding in the Chinese lender when regulations allow, said Michael Geoghegan, group chief executive & chairman of HSBC.
In the world of stock analysis, fundamental and technical analysis are on completely opposite sides of the spectrum.
Stocks ended higher Monday, led by technology stocks after an encouraging report on chip sales. Intel and HP led the Dow. GE and JPMorgan were at the bottom of the pack.
In this uncertain market, hesitant investors should resist the urge to pull money off the table and instead buy into high-dividend stocks, high-yielding corporate bonds and commodities, said Joseph Poon, head of Macquarie Private Wealth Asia.
Stocks advanced Monday as prospects for a resolution to the Greek debt crisis somewhat brightened and AIG agreeing to sell its Asian business to UK insurer Prudential.
Stocks held minor gains Monday, after reports showed that consumer spending stayed even but US manufacturing grew in February. What's ahead for markets? Phil Dow, director of equity strategy at RBC Wealth Management, and Alan Lancz, president of Alan B. Lancz & Associates, offered their insights to CNBC.
US stock index futures pointed to a higher open for Wall Street Monday as prospects for a resolution to the Greek debt crisis somewhat brightened and AIG agreeing to sell its Asian business to UK insurer Prudential.
The Greek government's second bond auction of the year will be one of the key drivers of global markets over the coming days. While no date is yet set, Athens must raise significant funds via bond sales or face the prospect of default.
A wealthy investor in Virginia pleaded guilty on Tuesday to criminal tax evasion involving an international bank, said by a person briefed on the case to be HSBC, one of the world’s largest private banks.
Standard and Poor's revised their credit outlook on Citigroup and Bank of America to Negative from Stable. Traders noting that Standard and Poor's is attempting to remove the Too Big To Fail premium that has been enjoyed by these large banks, which has been a major help to their credit ratings.
Last year investors just had to buy the "cheapest, nastiest stocks" around and watch them rally in the "dash to trash," but this year requires a more measured approach, Karen Olney, strategist from UBS, told CNBC Monday.
In the aftermath of the financial crisis, how are the brand values of the world’s major banks holding up? The latest report from independent consulting firm Brand Finance sounds an optimistic note — especially for HSBC, which has retained the top spot for the third year in a row. David Haigh, CEO of Brand Finance, shared his findings with CNBC.
Global financial heavyweight HSBC Holdings is happy with its partnership with China's Bank of Communications, Group CEO Michael Geoghegan told CNBC Asia on Monday, saying the venture is the firm's core investment on the mainland for now.
They looked like hot stocks. So how are the traders playing HSBC, JPMorgan and more now that they’ve been burned.
There is no evidence to suggest that big is bad in the financial sector and regulators should not seek to break up the large banks, Bob Diamond, president of Barclays, told CNBC Wednesday.