Hsbc Holdings

HSBC investors reject special resolutions on dividends, strategy

Indicative results from Friday’s annual meeting show that about a fifth of voting investors backed the call for HSBC to report regularly on the possibility of carving out its Asian unit, while 19.2% supported lifting its dividend to its pre-pandemic level.

Climate Change in India Could Mean Faster Rate Hikes, HSBC Says

“Although inflation in India has always been susceptible to supply shocks, climate change-induced surprises are making it more volatile and harder to forecast,” HSBC economists, led by Pranjul Bhandari, wrote in a report Wednesday. “This, then, raises the challenge for the central bank.”

HSBC surprises with 74% rise in Q3 profit and $2 billion buyback

HSBC however said its cost projections for 2022 had increased to $32 billion from $31 billion, due to the pressures of inflation.

HSBC reaches $1.575 billion settlement in Household case

HSBC Finance Corp said the settlement is subject to court approval and expected to result in a roughly USD 585 million pretax charge in the second quarter, including legal fees and expenses.

HSBC keeps headquarters in London, rejects move to Hong Kong

The unanimous decision by HSBC's board gives a boost to London's status as a global financial centre, which since the financial crisis of 2008-09 has faced challenges from tougher regulation and rising costs.

Job cut to have minimum impact on India: HSBC

The surprise could be in the form of the bank's target to increase its software engineering development and back office work here and China as part of its move to consolidate this vertical, which is projected to save up to USD 525 million over the next two years.

StanChart seeks buyers for $350 mn HK pension biz: Sources

Standard Chartered plc is seeking buyers for its Hong Kong pension business valued at about USD 350 million in a deal that would also involve a 15-year distribution agreement with the new owner.

HSBC Bank Oman completes sale of India assets to Doha Bank

Shareholders of Doha Bank, Qatar's fifth-largest lender by assets, approved the purchase in December 2014 after an agreement between the two banks about the sale was reached in April of that year.

HSBC, others picked for India's $436 mn NHPC share: Srcs

IDFC Capital Ltd and Edelweiss Financial Services Ltd are the other two advisors for the sale of an 11.36 percent government stake in NHPC. The stake is worth about USD 436 million at current market price.

HSBC profit rises but revenue hit by muted economic growth

Europe's biggest bank's pretax profit was up from USD 12.7 billion a year ago but fell short of the average USD 14.6 billion expected by analysts, on the basis of figures from 14 banks and brokerages polled by the company.

Indian hedge funds dare where foreign investors fear

Indian hedge fund manager Kalpesh Kinariwala is so sure of his equity strategies in a country that has stumped foreign rivals that he sends a daily e-mail tracker of his performance - including to competitors.

HSBC names Anshul Gupta M&A head for MENA: Memo

HSBC Holdings has named Anshul Gupta as its head of mergers and acquisitions business for the Middle East and North Africa, replacing Omar Mehanna, who is taking a new role at the British bank's Saudi Arabian affiliate.

HSBC says India's gold consumption likely to recover

Major bullion bank HSBC Holdings Plc cut its 2013 average gold price after factoring in a 2012 year-end price of USD 1,675 an ounce.

HSBC might pay $1.8bn money laundering fine: Sources

HSBC Holdings Plc might pay a fine of $1.8 billion as part of a settlement with U.S. law-enforcement agencies over money-laundering lapses, according to several people familiar with the matter.

HSBC closes in on $1 bn gen insurance sale: Sources

British bank HSBC Holdings Plc is nearing a deal to sell its general insurance business for about USD 1 billion, sources familiar with the matter told Reuters, with French insurer AXA SA and Australia's QBE Insurance Group Ltd expected to split the business, a separate report said.

HSBC says it may face criminal charges for transactions

HSBC Holdings Plc said on Monday it will likely face criminal or civil charges from an expanding investigation into its ties to allegedly illegal money transactions, including some tied to Iran.

HSBC set for $22bn profit as Asia lines the clouds

HSBC Holdings is expected to report the West's biggest banking profit for last year, fuelled by the East, while its rivals are struggling with faltering European and US growth.

US Senate investigating HSBC for money laundering

HSBC Holdings PLC is under investigation by a US Senate panel in a money-laundering inquiry, the latest step in a long-running US effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.