All Entries Tagged With: "HSBC"
More HSBC Jobs to be lost
More of the workforce will be cut from HSBC (LON:HSBA) as pressure mounts across the banking industry to cut costs.
HSBC: Bank plans 5-year euro benchmark bond
Europe’s biggest bank, HSBC (LON:HSBA) plans to issue a 5-year euro benchmark bond, these are according to reports by the IFR. The Initial guidance is set at mid-swaps plus 180-185 basis points on the deal, HSBC is said to be managing this itself.
HSBC Holdings Plc's Hong Kong Stock Plunge
Yesterday saw HSBC Holdings Plc’s (HKG:0005) stock holdings in Hong Kong fall by 24 per cent, this has now prompted a government probe. The stock exchange is also considering bringing forward changes to its end-of-day trading process. This morning shares have since rallied 15 per cent.
HSBC to cut 6,100 jobs following 62% decline in profits
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HSBC Holdings plc (LON:HSBA) are cutting 6,100 jobs in the US from their troubled US consumer lending business. The bank has taken this decision following a drop in profits of 62%, although they are still one of the most profitable banks.
HSBC £12.5 billion rights issue causes shares to fall
HSBC Holdings plc (LON:HSBA) have seen their shares fall by 9.3 per cent this morning, this is a direct result of the banks plans to ask investors for £12.5 billion so that they can strengthen their balance sheet. This cash injection is needed following a 62 per cent fall in profit in 2008.
Nationwide, Lloyds TSB and HSBC new SVR
After today’s interest rate cut of half a percent only three lenders Lloyds TSB (LON:LLOY) mortgage arm Cheltenham & Gloucester (C&G), HSBC (LON:HSBA) and Nationwide have agreed to pass on the full rate cut to their Standard Variable Rate (SVR).
HSBC will pass on the full half a percent to its borrowers that are linked to [...]
HSBC, First Direct and C&G withdraw tracker mortgages
HSBC (LON:HSBA), Cheltenham & Gloucester and First Direct have said they are withdrawing or making changes to their tracker mortgage rates ahead of the Bank of England decision on Thursday.
Lloyds TSB mortgage arm C&G have said it will be taking all off its trackers deals off of the market Wednesday night according to the mortgage [...]
HSBC and First Direct Offer Mortgage Deal at 3.49 percent
HSBC the bank that has managed to stay relatively strong compared to its rivals during the global financial crisis announced that they will be increasing mortgage lending by 20 percent next year.
First Direct which are part of HSBC (LON:HSBA) had even more good news for the mortgage market, the on-line bank has announced a new [...]
HSBC will increase mortgage lending by 20 percent in 2009
HSBC Holdings Plc (LON:HSBA) have vowed that they will boost the mortgage market in 2009 by increasing it’s lending by 20 percent. The move has pleased government officials who have been urging building societies and banks to resume lending in a bid to get the worsening housing market moving again.
Mervyn King, the Bank of England [...]
HSBC and Bank of China: Economy and Mortgage Rates
The two main home lenders in Hong Kong, HSBC Holdings Plc (HKG:0005) and Bank of China Ltd both raised their mortgage rates, the move will add to the pressure on property prices.
HSBC will now charge 1.5 percent below there its best rate for mortgages above HK$1.5 million ($194,000). According to calculations by Bloomberg this [...]
HSBC increases Mortgage rates: Stocks tumble
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Global Lender HSBC Holdings (HKG:0005) have increased its mortgage rates in Hong Kong by up to 0.75 percent after concerns grow regarding higher lending risks as the financial crisis worsens.
A spokesperson for HSBC announced on Tuesday the mortgage rates will be increased by between 0.50 percent and 0.75 percent which equates to mortgage rate [...]
Credit Suisse AG joins HSBC and cuts 650 jobs
Credit Suisse AG (NYSE:CS) announced they are making 650 job cuts, this come just a few hours after HSBC (LON:HSBA) announced they were cutting 500 jobs in the UK.
A Credit Suisse spokesperson said that the staff were told on Monday, but would not disclose any further information. However they did say that the job losses [...]
HSBC cuts 500 jobs in UK: Union Outraged
HSBC (LON:HSBA) announced today that 500 jobs will be going across the UK, although they did state that none of the job losses will be customer facing.
The bank had also said that the some employees that are affected by the job cuts may be offered alternative roles within HSBC, Europes largest bank by market
HSBC eyeballs AIG Asian business
HSBC (LON:HSBA) could be set to purchase the Asian businesses of American International Group Inc (AIG) the troubled US insurer. The deal could be worth around $8.7 billion according to analyst James Hutson at Keefe, Bruyette & Woods.
HSBC posted pre-tax profits showing that 16 percent was contributed by the banks insurance business in the [...]
HSBC Holdings wants to buy headquarters in London
HSBC Holdings Plc (LON:HSBA) are in negotiation with Metrovacesa SA the Spanish developer to buy back its London headquarters as the £800 billon bridge loan on the property is due today according to a source close to the matter.
According to the source HSBC sold the 45-story tower building in Canary Wharf, the financial district of [...]