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Stock Market & Financial Investment News

News Breaks
February 26, 2014
06:26 EDTHSBCHSBC agrees to sell Kazakhstan bank for $176M
HSBC said earlier today that it had agreed to sell its bank in Kazakhstan, SB JSC HSBC Bank Kazakhstan, to JSC Halyk Bank for $176M in cash. The transaction, which is subject to regulatory approvals and other conditions including customary adjustments relating to net asset value at completion, is expected to complete during the fourth quarter of 2014, HSBC added.
News For HSBC From The Last 14 Days
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April 1, 2015
06:57 EDTHSBCJudge dismisses HSBC foreclosure paperwork lawsuit, Reuters says
A New York judge dismissed a 2013 lawsuit by NY Attorney General Eric Schneiderman alleging that HSBC failed to file certain mortgage foreclosure paperwork, reports Reuters, citing a copy of the court decision. The judge said HSBC's paperwork errors were procedural, not substantive, and not illegal. An attorney general spokesperson said the office is still deciding whether to appeal. Reference Link
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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