Tag: HSBC Holdings PLC

Thursday, December 31st 2015 - 07:50 UTC
Holdouts subpoena HSBC on Argentina's efforts to raise money abroad

Creditors suing Argentina over billions of dollars in defaulted bonds have subpoenaed HSBC Holdings Plc for information about the country's effort to raise money abroad, a person familiar with the matter said on Tuesday, as reported by Reuters.
Tuesday, November 3rd 2015 - 10:03 UTC
HSBC profits up following massive cut of jobs and sale of assets

Lower costs from regulatory fines have contributed to higher profits for HSBC. Pre-tax profit at Europe's biggest lender jumped 32% from a year ago in the third quarter, beating analysts' expectations. Profit reached $6.1bn, up from $4.6bn in the same period a year earlier and above forecasts of $5.2bn.
Monday, June 8th 2015 - 07:36 UTC
Argentine financial watchdog claims banks actively collude to take money out of the country

Argentina's head of the Financial Information Unit (UIF) watchdog, José Sbatella has accused major banks of not just participating, but actively organizing operations to move capital out of the country. The official made reference to ongoing cases involving capital flight against worldwide financial powerhouses HSBC, BNP Paribas and JP Morgan, in an interview published in Página 12.
Monday, April 13th 2015 - 07:38 UTC
French magistrates order HSBC to post a 1bn Euro bail to cover potential fine

French judges have ordered HSBC Holdings to post a one-billion Euro bail to cover a potential fine after the bank was put under formal criminal investigation over allegations it helped customers dodge their taxes.
Friday, March 20th 2015 - 07:42 UTC
HSBC closing Jersey accounts belonging to customers living in UK

HSBC is closing accounts on Jersey belonging to customers living in the UK. It is part of a move by UK banks carrying out checks on the identity and addresses of thousands of their customers on the Channel Islands. The London-based bank said it had taken measures to prevent its services being misused.
Thursday, March 12th 2015 - 00:53 UTC
HSBC top officers insist on staying; blame lower staff and the media and accept MPs criticisms

HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. However Chris Meares, the ex-head of HSBC's private banking division, said he didn't know what staff “were up to”.
Tuesday, March 10th 2015 - 03:21 UTC
Argentina's top tax official attends HSBC hearings at UK Parliament

Argentina wants HSBC Holdings Plc to repatriate 3.5 billion dollars the bank's Argentine branch moved offshore to help clients evade taxes and move capital abroad, the country's tax chief Ricardo Echegaray said on Monday during a hearing which took place at the House of Commons in London, where top executives of HSBC were present.
Friday, December 12th 2014 - 06:43 UTC
Switzerland charges former HSBC analyst with industrial espionage

Switzerland has charged a former computer analyst at HSBC's private bank in Geneva with industrial espionage and breaching the country's secrecy laws for passing confidential client data to foreign authorities.
Saturday, November 22nd 2014 - 06:00 UTC
World markets celebrate after China cuts benchmark interest rates

China's central bank on Friday unexpectedly cut benchmark interest rates for the first time in more than two years, as authorities seek to prop up flagging growth in the world's second-largest economy.
Monday, December 17th 2012 - 06:23 UTC
HSBC Argentina also fined for failing to report suspicious transactions

Argentina slapped a 30 million Peso (6 million dollars) fine on a local subsidiary of global banking giant HSBC for failing to report suspicious transactions, authorities here said Sunday.