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Hsbc News

HSBC says CEO Flint steps down as it faces 'challenging' geopolitics

Fpo - HSBC on Monday announced its Group Chief Executive John Flint had stepped down after less than two years on the job, as the banking giant revealed decent first half profits but warned it faced "challenging" geopolitics.

HSBC says CEO Flint steps down, pre-tax profit up 15.8%

Fpo - HSBC on Monday said its Group Chief Executive John Flint had stepped down as the bank braces for geopolitical uncertainties. The announcement came as the banking giant reported pre-tax profit was up 15.8 percent at $12.

HSBC profits rise in 2018 but last quarter hit by trade jitters

Fpo - Banking giant HSBC said on Tuesday that pre-tax profit rose last year but it suffered a bruising final quarter as worries over the global economy and the US-China trade war began to bite.

HSBC pre-tax profit up 16% at $19.9 bn in 2018

Fpo - Banking giant HSBC said on Tuesday that pre-tax profit rose 16 percent to $19.9 billion last year with growth across its global businesses despite a "challenging external environment in the fourth quarter".

HSBC to pay $765m US fine over crisis-era conduct

London - Britain's Asia-focused bank HSBC on Monday revealed a $765-million US fine over the lender's actions in the run-up to the subprime crisis, as it also logged rising first-half profits.

HSBC pre-tax profit up 4.58% at $10.7 bn in first half

Fpo - Banking giant HSBC said on Monday that pre-tax profit rose 4.58 percent to $10.7 billion in the first six months of the year and voiced "cautious optimism" despite the China-US trade row.

HSBC leaker Falciani detained in Spain at demand of Switzerland

Madrid - Spanish police on Wednesday detained Herve Falciani, a former computer analyst at the Swiss branch of HSBC who leaked documents alleging the bank helped clients evade millions of dollars in taxes, a police source said.

HSBC leaker Herve Falciani detained in Spain: police

Madrid - Spanish police on Wednesday detained Herve Falciani, a former computer analyst at the Swiss branch of HSBC who leaked documents alleging the bank helped clients evade millions of dollars in taxes, a police source said.

HSBC commits $100 billion to combat climate change

London - London-based HSBC, which claims its home markets as Hong Kong and the United Kingdom, announced on Monday it was committing $100 billion toward financing low-carbon projects, as well as promising to get all its power from renewables by 2030.

HSBC funding Indonesian forest destruction: Greenpeace

Jakarta - Greenpeace on Tuesday accused banking giant HSBC of helping to arrange billions of dollars in financing for companies whose palm oil operations have been blamed for destroying vast swathes of Indonesian rainforest.

HSBC should stand trial in tax fraud case: French prosecutor

Paris - A French prosecutor has called for British banking giant HSBC to stand trial for enabling French clients to hide at least 1.67 billion euros ($1.84 billion) from the taxman, a source close to the probe said Thursday.

Hong Kong student leader Wong says HSBC blocked new accounts

Hong Kong - Hong Kong student leader Joshua Wong accused HSBC of "political censorship" on Wednesday after the bank rejected his application for a joint account for his new party as well as a personal account for himself.

HSBC to launch biometric banking in UK market

New York - UK’s proactive government has been pushing for an impossible-to-fake personal identification system to help deter financial fraud and terrorist funding schemes. HSBC’s UK headquarters thinks it has found the solution in biometric banking.

Swissleaks leaker says not planning to attend Swiss trial

Divonne-les-bains - A former HSBC employee who leaked documents alleging the bank helped clients evade millions of dollars in taxes said Wednesday he would not attend his trial in Switzerland because he would not get a fair hearing.

HSBC fires staff for mock Islamic State execution video

London - British bank HSBC fired six staff after they filmed a mock Islamic State-style execution video during a team-building day out and posted footage online, a spokesman confirmed on Tuesday.

HSBC to cut global headcount by up to 50,000

Hong Kong - Scandal-hit bank HSBC said Tuesday it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its HQ.

HSBC says facing French criminal probe over 'SwissLeaks'

London - British banking giant HSBC said Thursday it is facing a French criminal probe over its Swiss private banking arm, weeks after "SwissLeaks" allegations it had helped clients hide billions from the taxman.

Swiss raid HSBC in money laundering probe

Geneva - Swiss authorities on Wednesday raided the offices of British banking giant HSBC's Swiss unit as part of a money laundering probe into the bank that has been accused of helping clients to dodge millions of dollars in taxes.

Le Monde under fire from its businessmen owners over Swissleaks

Paris - Journalists at French newspaper Le Monde reacted angrily Wednesday to criticism from two of the paper's businessmen owners over its decision to publish the names of wealthy HSBC clients who dodged tax by opening Swiss accounts.

SwissLeaks whistleblower's tale worthy of a spy novel

Paris - Herve Falciani was once just an IT worker at a big bank, but since running off with hundreds of thousands of damaging documents from banking giant HSBC he has been alternately called a hero and a thief."He is brave. We have the highest opinion of Mr.

HSBC 'SwissLeaks' leaker urges more support for whistleblowers

Geneva - The man who stole the trove of secret files that sparked a global scandal over banking giant HSBC's alleged assistance to wealthy tax dodgers called Monday for more protections for whistleblowers.

HSBC 'tax dodge' revelations are just tip of iceberg, says leaker

Geneva - The former HSBC employee who leaked sensational secret documents alleging the bank helped wealthy customers dodge millions of dollars in taxes warned Tuesday that the revelations are just the "tip of the iceberg".

Deutsche Bank fails to end four U.S. lawsuits over soured mortgages

Deutsche Bank AG has failed to win the dismissal of four U.S.

HSBC taps ex-Homeland Security agent for anti money-laundering role

HSBC Holdings has named a former agent of the Department of Homeland Security and expert on high-risk clients to head a U.S.

HSBC bank says annual net profit jumps to $16.2 bn  

London - Banking giant HSBC announced on Monday a 15.5-percent rise in annual net profit to US$16.2 billion (11.8 billion euros).The company's performance in 2013 compared with profit after tax of $14.03 billion in 2012.That was when HSBC had been hit by high f...

HSBC cost cuts set to lift profits as CEO faces growth challenge

HSBC's <HSBA.L> profits are expected to rise by almost a fifth to $24 billion for 2013 as it benefits from a cost-cutting drive that spans managing its documents more efficiently to telling staff to...

HSBC to announce bonuses totaling $4 billion: report

HSBC will announce staff bonuses totaling just under 2.4 billion pounds ($4 billion) globally for 2013 and is expected to report a significant rise in pretax profit, Sky News reported on its website on Saturday without citing its sou...

Op-Ed: Sell these major banks involved in corruption and scandals

JPMorgan, Bank of America, HSBC Bank and Standard Chartered Bank, have been involved in both money laundering and LIBOR scandals. Should you trust management and invest in these banks?

Op-Ed: HSBC criminals escape punishment in money laundering settlement

New York - While HSBC was fined $1.9 billion for money laundering activities as well as illegal transactions involving several sanctioned countries, not a single individual at the bank faced criminal charges.

British bank to pay $1.9 billion in US money-laundering penalties

New York - British banking giant HSBC has said it will pay US authorities a staggering $1.92 billion in penalties to “settle allegations of money laundering.”
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Banks are beginning to take notice of crowdfunding as more people use sites like Zopa and LendInvest...
Banks are beginning to take notice of crowdfunding as more people use sites like Zopa and LendInvest instead of traditional borrowing methods
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Lord Green  UK Minister of State for Trade and Investment
Lord Green, UK Minister of State for Trade and Investment
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