Banking And Finance NEWS

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”


Rate-rigging investigation gathers pace in Europe

Investigations into the attempted manipulation of benchmark interest rates are focusing on four European banks, the Financial Times reported today. It’s claimed that evidence of links to the scandal at Crédit Agricole, HSBC, … Continue reading “Rate-rigging investigation gathers pace in Europe”


Kepler in exclusive talks to acquire Credit Agricole Cheuvreux

The corporate and investment banking unit of French lender Credit Agricole SA (EPA:ACA) has entered into exclusive talks to sell its Credit Agricole Cheuvreux (CA Cheuvreux) subsidiary to local financial services firm Kepler … Continue reading “Kepler in exclusive talks to acquire Credit Agricole Cheuvreux”


British banking giant HSBC used to launder Mexican drug money

UK’s largest bank HSBC was used to launder Mexican drug money, according to a new report by the Senate Permanent Subcommittee on Investigations, a Congressional watchdog responsible for investigating financial improprieties. The investigation … Continue reading “British banking giant HSBC used to launder Mexican drug money”


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