The Justice Department is investigating whether an HSBC employee may have leaked information to a hedge fund, Dow Jones reported.» Read More
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.
HSBC Holdings said on Monday it was in talks to buy a majority stake in Korea Exchange Bank, valued at $4.5 billion and held by Lone Star, sending shares of Korea's fifth-largest lender higher.
Key sectors like the homebuilders could continue to take a serious hit. But Cramer said it doesn’t have to be that way. Here are two things he thinks could save the market.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, Europe's biggest bank, posted higher first-half profit and struck an upbeat tone on the global economy on Monday, despite a big rise in bad debts linked to its problems in the U.S. housing market.
European stocks are likely to climb an additional 5% to 10% this year from current levels, boosted by double-digit profit growth, an executive with the fund arm of HSBC Holdings said on Monday.
Shares in Korea Exchange Bank soared as much as 8% on Wednesday, buoyed by a report that HSBC Holdings has contacted U.S. private equity fund Lone Star about buying the Korean lender.
HSBC Holdings has contacted Lone Star about buying Korea Exchange Bank from the U.S. private equity fund, the U.K.'s Daily Telegraph reported on Tuesday.