News on HSBC Holdings plc

HSBC may have another go at South Korea's KEB

2010-03-17T01:15:13Z

<div><p>SEOUL/HONG KONG (Reuters) - It's early days, but speculation is already building that HSBC <HSBA.L><0005.HK> may participate in the auction for a $3.9 billion stake in Korea Exchange Bank ...

Stolen Swiss bank data at HSBC hits 24,000 clients

2010-03-11T11:16:23Z

<div><p>A Swiss unit of global banking giant HSBC revealed Thursday that details on 24,000 bank customers may have been leaked in a major security breach that has helped fuel pressure on Switzerland over tax evasion.</p><p>Alexandre Zeller, chief executive of HSBC Private Bank (Switzerland), said 9,000 of them had left the bank since the the data theft b...

HSBC: data on 24,000 Swiss account holders stolen

2010-03-11T06:00:06Z

<div id="subtitle">HSBC says data on Swiss bank accounts of 24,000 customers stolen, exposing them to tax probes</div><div><p>Information on 24,000 HSBC customers with Swiss accounts has been stolen, the British bank said Thursday, potentially exposing large numbers of international clients to prosecution by tax authorities in their home countries.</p><p>A former IT employee of Swiss subsidiary ...

HSBC says Swiss data theft affects 24,000 accounts

2010-03-11T05:45:08Z

<div><p>LONDON/GENEVA (Reuters) - HSBC <HSBA.L>, Europe's biggest bank, said a theft of data by a former employee affected up to 24,000 Swiss client accounts, dealing a hefty blow to the reputation of its private bank.</p><p>Switzerland...

Some 24,000 hit by stolen HSBC Swiss bank data

2010-03-11T05:16:29Z

<div><p>Some 24,000 customers may have been affected by the theft of data from a Swiss branch of banking giant HSBC three years ago, Alexandre Zeller, chief executive of HSBC Private Bank, said on Thursday.</p><p>HSBC Private Bank (Switzerland) said 9,000 of them had since changed banks, lea...

Dubai World outlines debt plan to leading creditors

2010-03-09T04:16:10Z

<div><p>The debt-ridden Dubai World conglomerate is outlining proposals to restructure 22 billion dollars of its debt to leading creditors, The National daily reported Tuesday.</p><p>Dubai World's chief restructuring officer Aidan Birkett met with the Hongkong S...

Madoff ruling may save UBS, HSBC from mass claims

2010-03-04T09:00:33Z

<div><p>LUXEMBOURG/ZURICH (Reuters) -A court ruling on Thursday is likely to mean UBS avoids direct compensation claims from investors who lost money to fraudster Bernard Madoff in a fund the Swiss bank had set up, and may save HSBC from similar suits....

HSBC shares plunge in Hong Kong trade

2010-03-02T01:16:17Z

<div><p>Shares in HSBC plunged on the Hong Kong Stock Exchange on Tuesday, after the banking titan reported disappointing results for 2009.</p><p>Shares in the heavyweight fell 6.35 percent to 81.15 Hong Kong dollars at around 0245 GMT, dragging the benchmark HSBC plunged on the Hong Kong Stock Exchange Tuesday, after the banking titan reported disappointing results for 2009.</p><p>Shares in the heavyweight fell 6.35 percent to 81.15 Hong Kong dollars at around 0245 GMT, dragging the benchmark HSBC pledged to donate his bonus to charity on Monday amid an outcry over bankers' pay in Britain, as the Asia-focused group announced rising annual net profits.</p><p>HSBC, which received no state bailouts unlike other rival banks, said its Asia-focused group added that it was "well positioned" for economic recovery, saying it expected emerging markets to out-perform those of the developed world and grow three times faster this year.</p><p>Net earnings rose nearly two percent to 5.834 billion dollars (4.281 billion euros) last year, despite rising bad debts, Europe's biggest bank revealed in a results statement.&l...

HSBC in charitable mood after profits rise

2010-03-01T10:16:52Z

<div><p>Global banking titan HSBC on Monday posted a modest rise in 2009 net profits and said chief executive Michael Geoghegan would donate his bonus to charity amid outcry over bankers' pay.</p><p>The Asia-focused group said it was "well positioned" for economic recovery, saying it expected emerging m...

FTSE 100 closes higher

2010-03-01T10:16:48Z

<div><p>Shares in London were upbeat at the end of session on Monday as investor jitters about Greece subsided and metal prices surged.</p><p>The FTSE 100 index was up 0.96 percent at 5,405.94 points.</p><p>Lloyds Bankin...

HSBC profits dip

2010-03-01T04:15:14Z

<div><p>LONDON (Reuters) - HSBC Holdings missed expectations with a $7 billion annual profit after bad debts rose and risked a public backlash by paying three investment bankers over 9 million pounds ($13.7 million) each.</p><p>Europe's biggest bank said on Monday that HSBC, Europe's biggest bank, on Monday announced that net profits rose nearly two percent to $5.834 billion (£3.84 billion) last year, despite rising bad debts.</p><p>The group added in a results statement that loan impairments and other credit provisions advanced 6.2 percent to $26.488 billion (£17.47 billion), while revenue fell 11.2 percent to $78.631 b...

HSBC says profits rise to 5.834 billion dollars in 2009

2010-03-01T02:16:15Z

<div><p>HSBC, Europe's biggest bank, announced Monday that net profits rose nearly two percent to 5.834 billion dollars (4.281 billion euros) last year, despite rising bad debts.</p><p>The group added in a results statement that loan impairments and other credit provisions advanced 6.2 percent to 26.488 billion dollars, while revenue fell 11.2 percent to 78.631 bi...

HSBC 2009 profit rises 2 pct to $5.8 billion

2010-03-01T02:00:07Z

<div id="subtitle">HSBC Holdings PLC, Europe's largest bank, reports full-year profit up 2 pct to $5.8 billion</div><div><p>HSBC Holdings PLC, Europe's largest bank, reported Monday that full-year profit rose 2 percent as sharply lower operating costs helped offset an increase in loan impairment charges.</p><p>For the year ending Dec. 31, the company m...

HSBC bank boss to donate bonus to charity

2010-03-01T01:16:06Z

<div><p>HSBC bank Chief Executive Michael Geoghegan said Monday he would donate up to four million pounds (4.45 million euros, 6.06 million dollars) of his bonus to charity over the next four years.</p><p>Geoghegan, who relocated from HSBC's London headquarters to China's manufacturing activity continued to expand in February though at a slower pace, surveys by the government and HSBC showed Monday, with the bank expressing optimism for the coming months.</p><p>The HSBC China Manufacturing PMI, or purchasing managers' index, fell to 55.8 last month from 57.4 in January, when the indicator hit its highest level since d...

HSBC chief set to donate bonus to charity: reports

2010-02-28T21:16:21Z

<div><p>Michael Geoghegan, the chief executive of banking giant HSBC, will on Monday announce plans to donate his annual bonus of nearly 4 million pounds (6.1 million US dollars) to charities, reports said.</p><p>Geoghegan, who relocated from HSBC's London headquarters to