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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Posts Tagged ‘ credit card ’

28 October
Posted in Emerging Markets
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At HSBC brown-nosing goes a long way

HSBC does not seem happy in the United States nor in the United Kingdom. Financial markets and customer debt are under pressure, while repossessions and foreclosures are at an all-time high. HSBC once bragged of making profits in emerging markets. Perhaps that will change as well. ‘Amid signs of trouble [...]

24 October
Posted in General News
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HSBC treads water as customers feel pressure

Is HSBC treading water as the financial crisis builds? There is little news from HSBC if you filter out reports of how great they are or which green initiative they support this week. “We question how long HSBC shares can continue to tread water in the face of falling earnings [...]

24 October
Posted in General News
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Morgan Stanley speaks and HSBC Plc drops

It’s Friday, October 24th and news in the U.S. this morning is interesting. HSBC Holdings Plc declined the most since Sept. 11, 2001, after Morgan Stanley cut its share price estimate for the company by 25 percent. The FTSE 100 Index lost 291.61, or 7.1 percent, to a five- year [...]

16 October
Posted in HSBC Merchants
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About Polaris and HSBC financing

HSBC finances Polaris products. Polaris has relationships with HSBC Bank (“HSBC”) and GE Money Bank (“GE”) to provide retail revolving and installment financing credit, respectively, to United States consumers to purchase Polaris products. According to a recent Polaris press release, availability of retail credit to Polaris consumers remains at acceptable [...]

15 October
Posted in General News
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Presenting Household International as HSBC Consumer Lending

HSBC Finance recently cut 214 jobs in Franklin Park and Elmhurst as its consumer lending unit moved its records administration duties from Illinois to Buffalo. About a third of the affected workers have been placed in alternative positions within HSBC, a spokeswoman said. As for HSBC’s credit card business, according [...]