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HSBC bank News

22 Feb 2016

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).

15 Feb 2016

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.

15 Feb 2016

HSBC bank stays in London, snubbing Hong Kong

Europe's largest bank HSBC informed the financial markets Monday it would remain headquartered in Britain, rejecting a move to Hong Kong despite concerns about increased regulation in the UK.

11 Feb 2016

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.

HSBC Holdings Plc

27 Nov 2015

HSBC to wind up private banking business in India

Some 70 people working in the division headed by Shantanu Ambedkar will now be absorbed into the retail bank.

23 Nov 2015

Black money: ED scanner on Indians named in HSBC list

Tightening the noose around Indians whose names figured in the 'stolen' Swiss HSBC bank black money list, the Enforcement Directorate has begun a preliminary investigation in these cases for an independent hawala and money laundering probe.

23 Jun 2015

China manufacturing activity contracts in June

The bank`s preliminary Purchasing Managers` Index (PMI) came in at 49.6 in June, the highest in three months but still below the breakeven point of 50, HSBC said in a statement.

09 Jun 2015

European stocks slide with all eyes on Greece

Europe`s main stock markets fell Tuesday as investors tracked the latest news flow on stalled Greek debt talks, while HSBC bank slid on revelations of a radical overhaul.

05 May 2015

HSBC bank says Q1 net profits edges higher

Earnings after taxation climbed to $5.26 billion (4.75 billion euros) in the three months to the end of March, compared with $5.21 billion a year earlier, the Asia-focused bank reported in a results statement.

05 May 2015

HSBC bank says Q1 net profits edges higher

Scandal-hit global bank HSBC said Tuesday that net profits climbed by almost one percent in the first quarter, aided by a "strong" performance at its investment banking division.

23 Feb 2015

HSBC says CEO Stuart Gulliver holds Swiss account

She said the account was set up in 1998 in the name of a Panamanian company for reasons of confidentiality "and this had no other purpose and provided no tax or other advantage." She did not say how much the account contained.

British Opposition

11 Feb 2015

British opposition goes on war path over HSBC scandal

British opposition leader Ed Miliband went on the offensive today over an international scandal involving London-based HSBC bank, accusing Prime Minister David Cameron of being soft on tax avoidance.

17 Dec 2014

Govt renegotiating tax treaties to curb illicit wealth flows

To check illicit financial flows across borders, the government is renegotiating bilateral treaties with many countries to limit tax benefits to genuine investments and curb the routing of Indian money to safe havens, a senior Finance Ministry official said on Wednesday.

George Papaconstantinou

11 Dec 2014

Greek ex-finance minister to be tried over tax list

Greece`s former Finance Minister George Papaconstantinou will be tried by a special court for allegedly tampering with a confidential tax list in late 2010, the Supreme Court ruled on Thursday.

04 Dec 2014

Black money: SC asks Centre to ensure IT probe by March, 2015

The Supreme Court Wednesday asked the Centre to ensure that the ongoing income tax probe for suspected black money concerning 627 Indians who have accounts in HSBC bank, Geneva, do not get time barred and be completed by March next year.

25 Nov 2014

SIT to submit 2nd report on black money by month end: FinMin

He further said the government is providing all necessary assistance to SIT.

03 Nov 2014

HSBC sets aside $1.8 bn for forex probe, misconduct

HSBC`s profits fell short of expectations in the third quarter after the bank set aside $1.8 billion for misconduct settlements and compensation for customers, including a potential fine for rigging currency markets.

17 Oct 2014

Swiss agrees to provide details of black money: FM

Finance Minister Arun Jaitley on Friday said Switzerland has agreed to share information on Indians having illicit money in Swiss banks on independent evidence provided in each case to the Alpine nation.

04 Aug 2014

HSBC bank says profits fall in first half

Net profit dropped to $9.746 billion (7.259 billion euros) in the six months to June 30 compared with earnings after tax totalling $10.284 billion in the first half of 2013.

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