Banking And Finance NEWS

HSBC sells ship brokerage and consultancy arm to management

British banking and financial services group HSBC Holdings plc (LON:HSBA) said its fully-owned unit HSBC Bank plc would shed ship broking and consultancy services provider HSBC Shipping Services Limited to the business’ management, … Continue reading “HSBC sells ship brokerage and consultancy arm to management”


British banking giant HSBC continues asset disposals

British banking group HSBC Holdings Plc (LON:HSBA) said today it is selling its entire Hungarian unit, HSBC Credit Zrt, to local venture capital firm Central-Fund Kockazati Tokealap without disclosing the purchase price. The … Continue reading “British banking giant HSBC continues asset disposals”


HSBC reports profit growth for first half, makes $2bn provision for compensation and US matters

HSBC Holdings plc (LSE:HSBA), the bank’s parent company, said that it had generated pre-tax profit of USD12.7bn in the six months to the end of June, up from USD11.5bn a year earlier. Profit … Continue reading “HSBC reports profit growth for first half, makes $2bn provision for compensation and US matters”


British clients of HSBC-controlled bank in Switzerland avoid £200m in taxes

British clients of an HSBC-owned private Swiss bank that is the focus of a major HM Revenue & Customs investigation are alleged to have evaded tax by an amount likely to exceed £200m, according to … Continue reading “British clients of HSBC-controlled bank in Switzerland avoid £200m in taxes”


HSBC disposes of its take in Asian card processing venture for $242m

British banking group HSBC Holdings Plc (LON:HSBA) said on Friday that it had reached a deal to dispose of its 44% interest in a card processing joint venture in the Asia-Pacific region to … Continue reading “HSBC disposes of its take in Asian card processing venture for $242m”


Troubled Dexia shortlists two bidders for asset management unit

Rescued Franco-Belgian bank Dexia (EBR:DEXB) will reportedly pick the exclusive bidder for its asset management business within the next two weeks, Bloomberg said on Tuesday, citing sources in the know. As many as … Continue reading “Troubled Dexia shortlists two bidders for asset management unit”


Ratings agency Moody’s warns of negative outlook for Germany

Credit ratings agency Moody’s on Tuesday warned that the outlook for Germany’s AAA credit rating is negative, which is said to be the first step towards a possible downgrade. Credit ratings for the … Continue reading “Ratings agency Moody’s warns of negative outlook for Germany”


AIG’s German arm raises offer for property investor AIRE

AIG Century GmbH & Co KGaA, part of US insurance major American International Group Inc (NYSE:AIG), said on Monday it had hiked its voluntary tender offer for German real estate investor AIRE GmbH … Continue reading “AIG’s German arm raises offer for property investor AIRE”


Necessary Family Income Risen 16% Above Inflation

Since the beginning of the recession the earnings the average family needs to maintain a minimum lifestyle has risen 16% above inflation, claims a recent report. The research, recently published by the Joseph … Continue reading “Necessary Family Income Risen 16% Above Inflation”


Increase in UK government borrowing for June

Borrowing by the UK government increased by more than expected in June 2012 as the economy remained weak, official figures revealed today. Estimates from the Office for National Statistics (ONS) show that public … Continue reading “Increase in UK government borrowing for June”


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