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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 ‘ HSBC Holdings Plc ’

19 May
Posted in General News
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7000 HSBC accounts reviewed for tax evasion

Italian Finance Police are reviewing a list of 7,000 Italian account holders from HSBC Holdings Plc’s Geneva branch for possible charges of tax evasion, il Sole 24 Ore newspaper reported citing investigators. The probe is being conducted by the Turin court and French authorities are cooperating, the newspaper said. The [...]

22 April
Posted in General News
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FINRA fines HSBC $1.5 Million

The Financial Industry Regulatory Authority fined units of HSBC Holdings PLC in a settlement of cases related to the sale of auction-rate securities that became illiquid when auctions froze in February 2008. HSBC neither admitted or denied the charges, but consented to Finra’s findings under the settlement. HSBC was fined [...]

23 March
Posted in General News
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HSBC’s refusal in Dubai

DUBAI – Dubai World’s creditors have rejected the idea of taking a “haircut” on $22 billion of debt with preliminary discussions shifting towards extending the maturity of existing loans and bonds, bankers familiar with the matter said. A steering committee that represents about 90 creditors includes Standard Chartered PLC, Royal [...]

22 March
Posted in Emerging Markets
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HSBC Latin America losses to peak next year

HSBC may be optimistic with this forecast: HSBC Holdings PLC (HBC) doesn’t expects loan losses at its Latin American operations to peak until the middle of the year as the region faces headwinds from the global economic downturn in the coming months, a top executive said Thursday. “I think in [...]