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HSBC Holdings was one of the first and most exposed banks to the U.S. housing crisis, but the recent bigger problems of leading rivals mean its shares have outperformed to make it the West's biggest bank.
Banks and other financial institutions have expressed interest in providing more than $60 billion towards a super-sized fund aimed at bailing out structured investment vehicles, The Wall Street Journal reported on Sunday.
The major European indexes closed in the red Friday as fresh record highs in the price of oil and a soaring euro versus the dollar gave rise to economic concerns. Banking stocks were among the worst performers, with the Dow Jones STOXX banking index down 1 percent.
A U.S. real estate fund reportedly has sued HSBC alleging the its U.S. mortgage trading operation took advantage of the credit crisis at the expense of the fund.
HSBC has applied for a review of its $6.3 billion purchase of a stake in Korea Exchange Bank to South Korea's Fair Trade Commission, the anti-trust body said on Tuesday.
Merrill Lynch's subprime mortgage unit, First Franklin Financial, could cut about $100 million from the brokerage's third-quarter profit on an impairment charge, a Wall Street analyst said Tuesday.
HSBC, Europe's biggest bank, said it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking an $880 million writedown, because the business is no longer sustainable.
The U.K.'s top banks are mulling borrowing funds from the Bank of England's 10 billion pounds ($20 billion) facility to remove the stigma attached to it and restore confidence in the banking system, the Financial Times reported Friday.
Europe's biggest bank, HSBC Holdings, has rejected calls from an activist investor for it to review its strategy and shake up its corporate governance, people familiar with the situation said on Thursday.
HSBC is not considering acquisitions in Japan and will instead focus on growth by itself as it rolls out retail banking in the world's second-largest economy, HSBC Chairman Stephen Green said on Thursday.
After it sold off its mortgage unit, this bank is a natural takeout candidate, Cramer said.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
HSBC Holdings, which has just completed talks to buy Korea Exchange Bank, now plans to enter the South Korean insurance market, a day after the global banking giant bought shares in a Vietnamese insurer.
U.S. Treasury Secretary Henry Paulson said on Wednesday a recovery in the subprime mortgage market will be slowed by a wave of interest rate resets and urged lenders to help troubled borrowers.
I have to admit I don’t know much about our nation’s Treasury Secretary. I do know that he followed orders from his boss today, and met with some of the country’s largest mortgage lenders. It’s all part of President Bush’s “Foreclosure Avoidance Initiative,” that he announced less than two weeks ago.
Shares in HSBC Holdings were untroubled on Friday after a surprise late-night assault from activist investor Knight Vinke, as analysts said Europe's biggest bank was already working to address shareholder worries.
U.S. subprime auto lenders say they do not see a rising wave of defaults, but over the past year they have made a number of moves to burnish the scratches and dents in their loan portfolios.
Private equity firm Kohlberg Kravis Roberts is unlikely to make major compromises in talks with banks over the financing of a $24 billion deal to take over electronic payment processor First Data, the Wall Street Journal reported on its Web site on Thursday.
The U.S. mortgage and credit crisis deepened on Wednesday as Accredited Home Lenders , HSBC Holdings and Lehman Brothers announced job cuts, and concern mounted about the longer-term impact on the economy.
U.S. private equity fund Lone Star confirmed on Tuesday it is in exclusive negotiations with HSBC to sell its 51% stake in Korea Exchange Bank, with a market value of $4.8 billion.