HSBC to close 24 retail banking branches in India, slash 300 jobs

HSBC to close 24 retail banking branches in India, slash 300 jobs

The total number of branches will be coming down to 26 in 14 cities from 50 in 29 cities earlier, with a bulk of impact on presence in smaller centres.

HSBC upgrades India to neutral; 2016 Sensex target at 26,000

HSBC upgrades India to neutral; 2016 Sensex target at 26,000

 Global brokerage major HSBC has upgraded Indian equity markets to "neutral", saying "green shoots" are emerging and has increased its Sensex target for the year to 26,000 from 25,000.

US says banks won't be punished for lawful business in Iran

US says banks won't be punished for lawful business in Iran

US Secretary of State John Kerry tried today to reassure European banks they won't be penalised for conducting or facilitating business with Iran, as he worked to address Tehran's grievance that businesses are still staying away despite the nascent nuclear deal.

Zomato refutes HSBC report; says investors back company's valuation

Zomato refutes HSBC report; says investors back company's valuation

Hitting back at HSBC analysts for marking down its valuation by half at USD 500 million, online restaurant guide and food ordering firm Zomato on Monday said the investors have backed the current valuation.

Vodafone chooses Kotak, UBS, ICICI for $2 billion share sale

Vodafone chooses Kotak, UBS, ICICI for $2 billion share sale

Close to launching an Initial Public Offering (IPO), Vodafone has picked six investment banks, including Kotak, ICICI and UBS, for the over USD 2 billion share sale process, as per media sources.

India faces risk of earnings downgrades: HSBC

India faces risk of earnings downgrades: HSBC

Global brokerage firm HSBC today said it is 'underweight' on Indian equities and sees risk of earnings downgrades going forward as the market is trading at a significant premium

HSBC, RBS and Barclays plan to close 400 UK branches this year: Sources

HSBC, RBS and Barclays plan to close 400 UK branches this year: Sources

Three of Britain`s largest banks are planning to close about 400 branches this year, according to people familiar with the situation, a new programme of closures that could leave thousands of customers without easy access to a bank.

Hong Kong student leader says HSBC blocked new accounts

Hong Kong student leader Joshua Wong said Wednesday that the city`s HSBC branches had refused to open an account for his new party, accusing them of "political censorship".

Credit Suisse, HSBC dismiss "Panama Papers" tax avoidance allegations

Credit Suisse, HSBC dismiss "Panama Papers" tax avoidance allegations

Credit Suisse CEO Tidjane Thiam, who is aggressively targeting Asia`s wealthiest for growth, said his bank was only after lawful assets.

Black money: ED probing 43 cases relating to HSBC list, ICIJ expose, says FM Jaitley

Black money: ED probing 43 cases relating to HSBC list, ICIJ expose, says FM Jaitley

The comments came on a day when Jaitley announced a multi-agency probe into a new expose by ICIJ (International Consortium of Investigative Journalists) about offshore tax haven holdings of Indians and other nationals.

GDP growth to remain flat at 7.4% in FY17: HSBC

GDP growth to remain flat at 7.4% in FY17: HSBC

India is likely to clock GDP growth of 7.4 percent in the current fiscal and consumption is likely to be the main driver of growth in the foreseeable future, says an HSBC report.

Global watchdog flags slow 'too big to fail' bank rule adoption

Many countries have not yet introduced laws allowing regulators to write down bank`s debts to avoid taxpayer bailouts and prevent them being "too big to fail", the world`s top financial watchdog warned on Friday.

HSBC cautious, underweight on Indian equities

HSBC cautious, underweight on Indian equities

Notwithstanding recent volatility in Asian markets, some factors are supporting the region's equities, global brokerage major HSBC has said noting that it is 'cautious' and 'underweight' on India.

 

RBI may go for 0.25% rate cut: HSBC

RBI may go for 0.25% rate cut: HSBC

The Reserve Bank is likely to continue with its accommodative stance and may go for a 25 basis points rate cut, an HSBC report says

HSBC 2015 results disappoint amid 'seismic' economic shifts

HSBC 2015 results disappoint amid 'seismic' economic shifts

Global banking giant HSBC on Monday reported a shock pre-tax loss in the last quarter of 2015 with results for the year missing analysts` expectations, as it grapples with "seismic shifts" in the world economy.

HSBC's Swiss, Dubai arms under lens for tax evasion by Indians

HSBC's Swiss, Dubai arms under lens for tax evasion by Indians

HSBC has been under scanner ever since a leaked list of hundreds of Indian clients of its Geneva branch found its way to the Indian tax authorities. Similar lists made their way to tax authorities in various other countries, prompting probes.

HSBC under lens for hiring candidates linked to govt officials

HSBC under lens for hiring candidates linked to govt officials

The bank did not identify the specific country where such hirings could have been made, but said it is cooperating with the investigation by the US markets regulator SEC (Securities and Exchange Commission).

HSBC hints could shift to Paris in case of Brexit

Global banking giant HSBC`s chairman Douglas Flint on Monday hinted the lender could shift its operations to Paris if Britain votes to leave the European Union in a referendum expected later this year.

HSBC keeps headquarters in London, rejects move to Hong Kong

HSBC keeps headquarters in London, rejects move to Hong Kong

HSBC Holdings decided on Sunday to keep its headquarters in Britain, rejecting the option of shifting its centre of gravity back to its main profit-generating centre Hong Kong after a 10 month review.

HSBC takes U-turn, drops plan for 2016 pay freeze in speedy backpedal

HSBC takes U-turn, drops plan for 2016 pay freeze in speedy backpedal

HSBC, Europe`s largest bank, has dropped plans to freeze pay this year, according to a memo by Chief Executive Stuart Gulliver seen by Reuters, reversing a cost-cutting decision made less than two weeks ago.