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October 6, 2008 8:41:15 PM CDT

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Stories related to: HSBC

Stories

6 Stories

  • August 2008

    • UK Banks 'Milk Borrowers' to Pay for Credit Crunch

      Daily Mail (UK)  |  Aug 23, 08 7:19 PM CDT

      UK Banks 'Milk Borrowers' to Pay for Credit Crunch

      (Newser) - Britain's big banks are being accused of hoisting nearly £3 billion in interest payments on customers to make up for bad bank investments, the Daily Mail reports. Seeking to recoup huge losses from assets linked to subprime US mortgages, the banks have hiked mortgage rates and fees despite interest rate cuts that make it easier for banks to borrow. More »

      Tags

      Great Britain  • credit crisis  • United Kingdom  • bank  • banking  • Barclays  • banking industry  • HSBC

    • Oil Drops; Stocks Follow

      Wall Street Journal  |  Aug 4, 08 3:35 PM CDT

      Oil Drops; Stocks Follow

      (Newser) - Stocks closed down today, giving back gains from an early rally despite a nearly $4 drop in crude oil prices as worries about economic growth and inflation persisted, the Wall Street Journal reports. The Dow fell 42.17 to close at 11,284.15, the Nasdaq lost 25.40 and finished at 2,285.56, and the S&P 500 shed 11.29 points to settle at 1,249.02. More »

  • May 2008

    • Asia Financiers Looking Askance at Western Banks

      Economist  |  May 16, 08 4:30 PM CDT

      Asia Financiers Looking Askance at Western Banks

      (Newser) - Bankers and regulators across Asia have grown wary of the big US banks they once invited to underwrite major moves, the Economist reports. One Chinese regulator described the West’s big banks to the magazine as “shit,” among signs the East no longer trusts the West’s wisdom, or its regulation model, in the wake of the subprime collapse and the resulting credit crunch. More »

      Tags

      China  • bank regulation  • HSBC  • Chinese banks

  • March 2008

    • Wounded Bear Scrambles for a Savior

      Wall Street Journal  |  Mar 15, 08 3:38 PM CDT

      Wounded Bear Scrambles for a Savior

      (Newser) - What's next for Bear Stearns? A Wall Street institution for the better part of a century, it is now scrambling to find a buyer. Its best hope is JP Morgan, which provided a temporary lifeline yesterday along with the Fed. But other possible suitors include Citibank and HSBC, the Wall Street Journal reports. In a sign of the times, the Journal notes that Bear's single biggest asset might be its building—the Madison Avenue digs could fetch $1.2 billion. More »

  • December 2007

    • In Need of Cash, Banks Looking to Sell

      Wall Street Journal  |  Dec 28, 07 7:48 AM CST

      In Need of Cash, Banks Looking to Sell

      (Newser) - Still in need of cash, as subprime writedowns continue to maul bottom lines, US and European banks are selling off or shuttering non-critical assets. They've already sold stakes to foreign investors and borrowed from central banks; now it's time for the yard sale, as the Wall Street Journal puts it. Citigroup and the UK’s HSBC, among others, are primed to sell. More »

      Tags

      subprime mortgages  • Citigroup  • Merrill Lynch  • Morgan Stanley  • UBS  • HSBC

  • August 2007

    • HSBC Shops for Controlling Stake in KEB

      Financial Times (UK)  |  Aug 20, 07 3:29 PM CDT

      HSBC Shops for Controlling Stake in KEB

      (Newser) - HSBC is in talks to buy a controlling stake in Korea Exchange Bank from the U.S. private equity group Lone Star. A local newspaper has reported that the deal would be worth $4.5 billion. HSBC wants to strengthen its presence in the Korean economy, and Lone Star has been looking to unload its share for years. More »

      Tags

      US economy  • acquisitions  • bank  • HSBC  • Lone Star

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