New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 17, 2014
10:37 EDTHSBCHSBC confirms suspension of two forex traders, IBT says
HSBC confirmed to International Business Times that the bank has suspended two foreign exchange traders in London amid a number of investigations over FX rate manipulation charges. Reference Link
News For HSBC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 3, 2015
07:36 EDTHSBCHSBC reserves $1.3B for currency manipulation penalty
HSBC said it has set aside $1.3B to settle claims it was involved in the manipulation of benchmark foreign-exchange rates. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, the company said. Due to uncertainties and limitations of these estimates, the ultimate penalties could differ significantly from the amount provided. "Investigations into HSBC by the DOJ, FRB and other authorities around the world continue," the company said in a statement.
07:28 EDTHSBCHSBC 'hopeful' for modest improvement in world economy in 2H15
"We are hopeful for a modest improvement in the world economy in the second half of the year," said CEO Stuart Gulliver. "More accommodating monetary conditions should help the mainland Chinese economy to stabilise after first half challenges. US economic growth is also likely to accelerate. Thanks to lower oil prices, real incomes are rising across much of the eurozone and in the UK. Key uncertainties include the pace of recovery in capital spending, the timing of any US monetary tightening and ongoing challenges in the eurozone."
07:26 EDTHSBCHSBC reports 1H EPS 48c vs 50c last year
Subscribe for More Information
05:45 EDTHSBCHSBC to sell Brazil business to Banco Bradesco
HSBC (HSBC) entered into an agreement to sell its entire business in Brazil, comprising HSBC Bank Brasil S.A Banco Multiplo and HSBC Servicos e Participacoes Ltda, to Banco Bradesco (BBD) for an all cash consideration of $5.2B. This represents a price to tangible book value multiple of 1.8x based on 30 June 2015 accounts. As at the completion of the transaction, the purchase price is subject to adjustment to reflect the movement in the net asset value of the business between 31 December 2014 and completion. The transaction is expected to be a key contributor to the investor update action to reduce Group RWAs, accounting for $37B of the overall $290B planned reduction, enabling future redeployment of RWAs to support growth opportunities. The transaction is subject to regulatory approval. HSBC plans to maintain a presence in Brazil to serve large corporate clients with respect to their international needs. Reference Link
August 2, 2015
18:48 EDTHSBCHSBC to announce forex charge 'well over' $1B, Sky News says
As part of its forthcoming interim results, HSBC will report a charge "well over" $1B related to alleged foreign exchange manipulation, reports Sky News, citing sources. Reference Link
July 31, 2015
13:34 EDTHSBCHSBC close to $4B sale of Brazil unit to Bradesco, FT reports
Subscribe for More Information
13:30 EDTHSBCHSBC technical notes before results
There is a potential double bottom pattern on the long-term chart that would likely become active on positive news. Price is currently poised at $45.13 and only a small advance in price would be needed for the pattern to become active. Upside potential for the pattern would be to the $50 to $52 area. If the news is bearish, a drop below $41.20 would void the double bottom. Next support levels to watch in that event would be at $40.23 and $38.88.
July 21, 2015
19:51 EDTHSBCJudge rejects HSBC attempt to dismiss credit union lawsuit, Reuters says
Subscribe for More Information
06:08 EDTHSBCU.K. watchdog visited Barclays 186 times in 2014, Bloomberg reports
The FCA's supervisory team made 186 visits to Barclays (BCS) in 2014, more than any other British bank that year, Bloomberg reports. HSBC (HSBC) was next highest with 85 visits, with RBS (RBS) and Lloyds (LYG) following with 65 and 58 encounters, respectively, the report says. Reference Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use