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.
Ford Motor said on Tuesday it was working with financial advisers on the best options for its European luxury brands Jaguar and Land Rover.
Australia and New Zealand Banking Group, Australia's third-biggest bank, said it has appointed Michael Smith, head of HSBC Holding's Asian business, as its new chief executive.
HSBC Holdings, which has struggled to build its investment banking franchise, said on Wednesday that its head of global capital markets, Danny Palmer, was leaving after less than three years with the firm.
HSBC, Europe's largest bank, said on Friday it had made a good start to 2007, helped by a strong performance in Asia, but declined to comment on market rumours that it could be interested in takeover target ABN Amro.
Stocks closed higher and the Dow ended at another record high, buoyed by sharp gains in financial and telecom stocks. "With strong earnings and reasonable valuations, you should expect stocks to go higher," said Ed Keon, chief investment strategist at Prudential. "I think the market represents good value."
The Shanghai stock exchange is in talks with HSBC and other high-profile foreign firms to list their shares in mainland China, as part of its strategy to revive the recently moribund bourse, the Financial Times reported on Tuesday.
Citigroup, HSBC and two other foreign banks on Monday officially began offering local currency retail banking services to customers in mainland China, aiming to woo potential clients with better services than local lenders usually provide.