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Stock Market & Financial Investment News

News Breaks
February 24, 2014
06:10 EDTHSBCHSBC reports 2013 profit before tax $22.6B vs. $20.6B a year ago
Reports Common equity tier 1 ratio 10.9% vs. 9.5% last year. The bank said, "Although much progress has been made since 2011, we did not meet all of our targets by the end of 2013. Our reported cost efficiency ratio of 59.6% and return on equity of 9.2% in 2013 were both outside our target ranges, in part affected by continuing UK customer redress. In addition, there is further work required to grow our incremental wealth revenues to achieve our target of US$3bn in the medium term."
News For HSBC From The Last 14 Days
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March 31, 2015
08:18 EDTHSBCBank monitor critical of HSBC reform efforts, Bloomberg says
HSBC has not fully complied with U.S. demands to revamp operations following allegations of money laundering and links to terrorist regimes, Bloomberg reported yesterday, citing sources familiar with a report from the bank's court-appointed monitor Michael Cherkasky. The report, which will be made public this week, alleges that the bank resolved a client alert then created supporting documentation after the matter was resolved. The bank also has inadequate controls for high-risk countries such as Oman and the Philippines, the report alleges. Reference Link
March 30, 2015
15:11 EDTHSBCHSBC monitor reports bank falls short of compliance timeline, Bloomberg says
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March 24, 2015
07:26 EDTHSBCMaxim Integrated targeting major banks with patent lawsuits, Reuters reports
Maxim Integrated is (MXIM) targeting several major banks alleging their smartphone banking apps infringe the company's patents, reports Reuters. The complaints were filed against M&T Bank (MTB), and the US affiliates of HSBC (HSBC) and Banco Santander (SAN). The patents cover various technologies that secure data, including encryption for mobile financial transactions. Reference Link
06:08 EDTHSBCU.S. regulators say BNP, HSBC, RBS must rewrite living wills
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March 23, 2015
09:30 EDTHSBCHSBC raises exposure to Russia, Brazil, others, Reuters says
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March 18, 2015
07:20 EDTHSBCU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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