HSBC

HSBC says BOE Looking for 'Air Cover' to Increase Rates

December 15th, 2017, 8:53 AM UTC<p>HSBC's Global Head of Fixed Income Research Steven Major discusses the BOE's outlook on future rate hikes, and the …

Business

South Africa whistleblower aids HSBC money laundering investigation

A whistleblower is aiding UK financial regulators’ investigation into alleged money laundering in South Africa by British banks including HSBC, it has emerged.<p>The Financial Conduct Authority (FCA) is probing FTSE 100 lenders HSBC and Standard Chartered’s claimed links to alleged illegal activities …

South Africa

Saudi Aramco seeks IPO bookrunners, global coordinators - sources

LONDON/DUBAI (Reuters) - State oil giant Saudi Aramco is seeking proposals from bankers before the end of the year for roles of bookrunners and global coordinators for its initial public offering (IPO) planned for 2018, two sources close to the matter said.<p>The plan to float about 5 percent of …

Saudi Aramco

HSBC Shares Hit 3-Year High Ahead of Expected Fed Rate Hike

Shares in <b>HSBC</b> (5.HK) jumped 3.6% in Hong Kong ahead on the U.S. Federal Reserve's meeting on Wednesday, when it's widely assumed the federal funds …

Economy

Money laundering cloud lifts from HSBC as US authorities move to dismiss charges

US authorities today announced they will dismiss deferred money laundering charges against HSBC, removing a cloud which has been hanging over the …

Corruption

HSBC avoids prosecution as US deal lapses

US authorities are lifting the threat of prosecution against the British banking giant HSBC, five years after it admitted to widespread money …

Corruption

HSBC spared further US money laundering sanctions as it battles to clean up its act

US regulators described it as the "sword of Damocles" hanging over HSBC. Britain’s biggest lender had to pay a $1.9bn (£1.4bn) fine in 2012 for helping drug cartels launder money in Mexico and for contravening sanctions to do business with Iran.<p>Alongside the payout, HSBC agreed a five-year deferred …

Banking

'Travesty of Justice' as Trump DOJ Lifts Prosecution Threat for Banking Giant HSBC

A consumer advocacy organization lamented the "travesty of justice" on Monday after HSBC said that it no longer had to worry about the possibility of …

Corruption

HSBC Says U.S. Is Preparing to Dismiss Criminal Charges Against It

HSBC said on Monday that the United States authorities were preparing to dismiss criminal charges against the bank, five years after it reached an agreement to avoid prosecution related to lapses in its money-laundering controls.<p>In 2012, the bank, one of the world’s biggest lenders, paid $1.9 …

Business

HSBC's suspended sentence over Mexican cartel case comes to an end

HSBC has said that its deferred prosecution agreement with the US Department of Justice has expired, marking an end to the threat of further punishment for lapses in its anti-money laundering controls.<p>HSBC said it had lived up to its commitments under the five-year deal signed in December 2012, …

Amber Rudd

Fed Meetings Could Get Exciting Again in 2018

Federal Reserve decisions don't bring the fireworks they used to for traders. That could change in the next few years, according to HSBC analysts.<p>The Fed has lifted benchmark interest rates four times since 2015 and is expected to raise them again when it wraps up its latest meeting on Wednesday. …

Economy

UK court rebukes HSBC over missing forex trading records

December 8, 2017<p>HSBC was on the end of a judicial rebuke after belatedly finding a whole swathe of trading records it previously claimed did not …

The City

HSBC's Maher Is Bearish on the Pound

December 8th, 2017, 4:54 PM UTC<p>HSBC Securities U.S. Head of FX Strategy Daragh Maher discusses the pound and the Bank of England's rate policy on …

Business

2017 has been a stellar year for Asian stocks, and HSBC says there are more gains to come

• <b>Asian stocks have surged this year, led by China, South Korea and India.</b>• <b><br>HSBC says that earnings growth and multiple expansions will help power further gains next year.</b>• <b><br>The largest downside risks lie with higher interest rates in Asia, quantitative tightening from the Fed and a return of …

Economy

Man-in-the-Middle Flaw in Major Banking, VPN Apps Exposes Millions

New research from University of Birmingham emphasizes importance of securing high-risk mobile apps.<p>Researchers from the UK have uncovered a serious …

Information Security

HSBC beefs up Asia research team with 15 new hires in China

HONG KONG (Reuters) - HSBC (0005.HK)(HSBA.L) said on Friday that it had expanded its Asian research team by hiring 15 analysts following the launch of HSBC Qianhai Securities, the first Chinese securities joint venture to be majority-owned by a foreign bank.<p>A new team of equity research analysts …

China

Natwest, HSBC and Co-op security flaw left banking app users at risk of HACKING

Mobile banking customers are being advised to update their apps after experts discovered a security flaw that left millions vulnerable to …

Information Security

HSBC Opens China’s First Majority Foreign-Owned Securities Firm

HSBC Opens China’s First Majority Foreign-Owned Securities Firm<p>HSBC Qianhai Securities Ltd., which is 51% owned by HSBC, opened on Thursday as …

News (China)

BoE rates tightening not seen as sign of big gilts repricing

December 6, 2017<p>The Bank of England has begun an interest rate tightening cycle — but investors should not expect that to cause a significant …

Economy

HSBC's Major Says Bitcoin Is Not a Store of Value

December 1st, 2017, 9:40 AM UTC<p>Steven Major, global head of fixed income at HSBC, discusses bitcoin and the move towards a cashless society. He …

Business

HSBC ordered to hand over records in ‘front-running’ case

, Banking Editor<p>HSBC has suffered another setback over allegations that it manipulated foreign exchange markets, after a British judge ordered the …

U.S. Department of Justice

'HSBC demanded I bring my sister to the bank even though she has dementia'

<i>I have power of attorney for my twin sister, who lives in a care home for dementia sufferers.</i><p><i>Eight months ago HSBC wrote requesting information needed to comply with the Foreign Account Tax Compliance Act (Fatca), which relates to the United States. My sister has never had holdings in America and</i> …

Dementia

HSBC has hired an ex-Google engineering director to lead the bank's tech and digital efforts

HSBC is tapping up talent from tech companies to give it a leg up in an increasingly digital world with the hire of a former Google engineer.<p>Mike …

Banking

HSBC closes accounts linked to Guptas amid review

London - Global bank HSBC is shuttering accounts associated with the Gupta family as it assesses its exposure to the scandal gripping South …

Business (South Africa)

HSBC 'ignored' Gupta warnings - Hain

Cape Town - UK Parliamentarian Lord Peter Hain has said that South African staff at global bank HSBC warned the bank’s London headquarters of illegal …

Business (South Africa)

HSBC pays €300m to the French authorities: Another day, another thumping fine

The leak of the Paradise Papers has shone a deeply unflattering light on the murky world of offshore tax havens, and Britain’s crown dependencies in …

Corruption

Swiss HSBC settles French tax fraud dispute

With a payment of €300 million (CHF350 million), the Swiss subsidiary of British bank HSBC has settled its tax fraud dispute with the French …

Taxes

HSBC to pay $352m to resolve Swiss bank tax probe

Investigation was launched by French authorities into tax-related matters<p>HSBC said Tuesday that its Swiss private-banking unit will pay €300m to …

Banking

HSBC shuts down accounts linked to Gupta front companies - reports

Cape Town – HSBC said on Friday that it “has been reviewing its exposure to the Guptas for some time, and has closed a number of accounts for …

Business (South Africa)

HSBC closes accounts linked to South Africa’s Gupta scandal

HSBC has revealed it closed ­accounts linked to South Africa’s Gupta family corruption investigation, admitting for the first time concerns about its …

South Africa