Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 9:23:01 AM CST

Learn about Newser Points »

HSBC

HSBC news stories

6 Stories

UK Banks 'Milk Borrowers' to Pay for Credit Crunch

Banks hike mortgage payments despite interest rate cuts

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

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

MARKETS

 Oil Drops; Stocks Follow  

Gray day on Street ahead of Fed's policy meeting

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

More about:  Dow Jones • S&P 500 • Federal Reserve • Nasdaq • inflation • financial stocks • economic growth • Chevron • Exxon Mobil • HSBC

ANALYSIS

Asia Financiers Looking Askance at Western Banks

Credit crunch has investors, regulators questioning the model

Economist Economist May 16, 08 4:30 PM CDT
(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 »

More about:  China • bank regulation • HSBC • Chinese banks

Wounded Bear Scrambles
for a Savior

Stearns hopes
to find a quick buyer
in troubled times

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

In Need of Cash, Banks Looking to Sell

It's a buyers market as banks unload 'everything from branches to entire units'

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

More about:  subprime mortgages • Citigroup • Merrill Lynch • Morgan Stanley • UBS • HSBC

HSBC Shops for Controlling Stake in KEB

Bank looks to strengthen presence
in Korean economy

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

More about:  US economy • acquisition • bank • HSBC • Lone Star

6 Stories

Today's Most Popular

Loading...

Premium Articles from HighBeam

Find more articles like this

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »