IBTimes Australia : HSBC Topic

China HSBC flash PMI hits seven-month low, fans growth fears

Thu, 23 May 2013 12:42:02 +1000

China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world's second-largest economy is sputtering.

China May HSBC flash PMI slips to seven-month low on weak demand

Thu, 23 May 2013 12:21:02 +1000

Australian Dollar Outlook - 23 May 2013

Thu, 23 May 2013 10:58:31 +1000

Bell FX Currency Outlook: The Australian Dollar dropped to a one-year low following some positive comments on the US economy by the head of the Federal Reserve.

U.S. Justice Department tells lawmakers no bank is too big to jail

Thu, 23 May 2013 09:00:03 +1000

A Justice Department official insisted on Wednesday that no financial company is too big to jail, in the department's latest effort to backpedal from statements made in March by Attorney General Eric Holder.

State-backed banks gain approval for capital plans

Thu, 23 May 2013 03:21:03 +1000

State-backed British lenders Lloyds Banking Group and Royal Bank of Scotland have agreed plans to shore up their capital with the financial regulator, removing a barrier to the government offloading its shares.

State-backed UK banks gain approval for capital plans

Wed, 22 May 2013 23:35:03 +1000

Lloyds says to meet capital demands without extra funds

Wed, 22 May 2013 19:21:02 +1000

State-backed Lloyds Banking Group said it would not need to issue new equity or specialist debt in order to meet capital demands set by Britain's financial regulator.

Insight - No more easy pickings in Russia's banking market

Wed, 22 May 2013 16:49:01 +1000

Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for.

Insight: No more easy pickings in Russia's banking market

Wed, 22 May 2013 16:42:02 +1000

Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for.

Prosecutors' subpoena of SAC's Cohen puzzles defense lawyers

Tue, 21 May 2013 08:21:02 +1000

The decision by prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads.

Ex-Goldman banker Thornton steps down from HSBC board

Mon, 20 May 2013 23:56:03 +1000

John Thornton, the former Goldman Sachs president who specializes in Chinese affairs, is stepping down from the board of HSBC to spend more time on his other business interests, Europe's biggest bank said on Monday.

European shares set new five-year high, cyclicals up

Mon, 20 May 2013 17:42:02 +1000

European shares extended gains to set a new five-year high for a fourth straight session on Monday, with investors flocking to buy riskier assets such as equities on fresh signs of a recovery in the global economy.

Global shares grind higher, yen edges up on Amari comments

Mon, 20 May 2013 17:42:02 +1000

Rising optimism about global growth pushed world shares to a near five-year high on Monday, while comments from Japan's economy minister that consumers could suffer if the yen falls further lifted it off a 4-1/2 low.

Australian Dollar Outlook - 20 May 2013

Mon, 20 May 2013 09:52:03 +1000

Bell FX Currency Outlook The Australian Dollar's recent fall has stabilised with the local currency opening trade this morning in the mid 0.9700's.

Greece's Piraeus hire banks to advise on share issue: sources

Sun, 19 May 2013 00:14:04 +1000

Greece's second-largest lender Piraeus Bank has hired four international investment banks as advisers on its 7.33 billion euro (£6.2 billion) share issue, two bankers close to the procedure told Reuters on Saturday.

Analysis: Consumer stocks shine in emerging market profit gloom

Thu, 16 May 2013 23:49:02 +1000

A broad collapse of company profits in the developing world shows no sign of abating, forcing investors to tilt portfolios towards sectors such as healthcare or consumer goods where margins are more robust.

Charts in Focus: China’s Growing Pains and Global Impact

Thu, 16 May 2013 17:55:00 +1000

We take a look at HSBC’s report on the long-term risks for China and the global economic impact

City of London Finance Jobs Fall in April as Firms Stall Hiring

Thu, 16 May 2013 16:02:45 +1000

City finance jobs decline to 5,922 in April from 7,661 in the same month, a year ago

Asian Markets Mixed as Nikkei Sheds Early Gains on Weak Earnings

Thu, 16 May 2013 14:55:43 +1000

Japanese banking stocks pull the Nikkei down despite stronger GDP data.

HSBC may cut 14,000 more jobs as revenue faces pressure

Thu, 16 May 2013 00:14:02 +1000

HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue.

CEO of SocGen Russia unit held over suspected kickbacks

Wed, 15 May 2013 22:42:03 +1000

The chief executive of Societe Generale's Russian unit was detained on Wednesday on suspicion of taking bribes, dealing a blow to one of the few foreign banks that has dared to challenge Russia's dominant state banks.

UK banks avoid investigation by competition authority

Wed, 15 May 2013 19:42:02 +1000

Britain's biggest banks received a boost on Wednesday when the consumer watchdog decided against recommending that the market for personal current accounts be investigated by the competition regulator.

HSBC accelerates cost cutting in drive for profit boost

Wed, 15 May 2013 17:21:02 +1000

HSBC plans to cut annual costs by up to another $3 billion (2 billion pounds) and may axe a further 14,000 jobs as Europe's biggest bank strives to drive profits in the face of sluggish growth outside Asia.

HSBC CEO Stuart Gulliver: Growth is a Challenge Despite Doubling Profits

Wed, 15 May 2013 16:55:37 +1000

Leader of Europe’s largest investment bank shrugs off acquisition opportunities and eyes cost savings

Analysis - Golden boy Lapid loses lustre in Israel budget squeeze

Wed, 15 May 2013 16:42:02 +1000

Just months after a dazzling political debut, Israel's new finance minister Yair Lapid has come crashing down to earth with a budget that critics say hits the very people he vowed to protect -- the middle classes.

HSBC Plans 14,000 Job Cuts and $3bn Savings

Wed, 15 May 2013 16:04:35 +1000

More jobs on the line at Europe's biggest bank which has already sold or closed 52 loss-making businesses globally since 2011.

HSBC targets additional $2-3 billion cost savings by 2016

Wed, 15 May 2013 14:42:02 +1000

HSBC said on Wednesday that the bank would target an additional $2 billion (1.3 billion pounds) to $3 billion in cost savings between 2014 and 2016, as the bank axes jobs and sells noncore businesses with less than a year left in the first phase of its restructuring plan.

After ATM heist, India's IT sector again in unwelcome spotlight

Wed, 15 May 2013 13:35:02 +1000

A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.

HSBC says may sell Monaco private banking business

Wed, 15 May 2013 03:35:02 +1000

Europe's largest bank HSBC said it may sell its private banking business in Monaco as part of an ongoing strategic review.

German investor morale rise points to timid recovery

Tue, 14 May 2013 20:21:01 +1000

German analyst and investor sentiment edged up in May after dropping sharply in the previous month, suggesting the euro zone's largest economy is overcoming concerns over a flare-up in the bloc's debt crisis and is back on track to a timid recovery.