RBS Has Quarterly Loss on $5.5 Billion Bad Loans, Credit-Market Writedowns Nov 7, 2009
That compares with about 84 percent at HSBC Holdings Plc, Europes biggest bank, which lends less than it gains in customer deposits. I am a little bit surprised by the numbers, I didnt expect it to be this bad, said , research director at Tower Group Plc. (Bloomberg -- UK)
Telmex Sells $500 Million of 10-Year Bonds in International Debt Markets Nov 6, 2009
Bank of America Corp. and HSBC Holdings Plc arranged the bond sale, said the person. Moodys Investors Service today rated Telmexs bonds A3, the fourth-lowest investment grade. (Bloomberg -- Latin America)
Chinese Official Yao Warns Against `Excessive Growth' as Inflation Threat Nov 5, 2009
Manufacturing expanded at the fastest pace in 18 months, according to a released by HSBC Holdings Plc and also a government-backed PMI.. Chinas exports may grow by 8 percent to 10 percent in 2010, , deputy director of the State Councils Development Research Center said in Beijing today. (Bloomberg -- Asia)
APEC CEO Summit in Singapore Sees Record Turnout of APEC Leaders Nov 4, 2009
"This has been another tumultuous year for the Asia-Pacific region and the APEC CEO Summit in Singapore provides a timely occasion with an impressive gathering of world leaders to take stock and look ahead," Mr Stephen Green, Group Chairman, HSBC Holdings plc. "The region remains remarkably robust in what have been very difficult times and, as we approach year-end, Asia-Pacific is the world's fastest growing regional economy. HSBC is therefore proud to support this Summit. Like APEC, we are... (JCN Network, Japan)
Vale Sells $1 Billion of 30-Year Bonds in International Credit Markets Nov 4, 2009
Deutsche Bank AG, HSBC Holdings Plc and JPMorgan Chase & Co. arranged the offering, Vale said in a filing to Brazils securities regulator. The company sold $1 billion of 10-year bonds abroad in September as a recovery in Latin Americas biggest economy boosts demand for the securities. (Bloomberg -- Latin America)
HSBC ups GDP target for 2010-11 to 8.5% from 8% Nov 3, 2009
Robert Prior Wandesforde, Senior Asian Economist, HSBC Holdings told ET Now this morning that GDP growth could recover sharply in 2010-11 on the back of a recovery in agricultural output after a drought year ... Robert Prior Wandesforde, Senior Asian Economist, HSBC Holdings told ET Now this morning that GDP growth could recover sharply in 2010-11 on the back of a recovery in agricultural output after a drought year. (India Times)
HSBC plans big China boost in run-up to IPO Nov 3, 2009
TAIPEI: HSBC Holdings is preparing to boost its China presence by about 20% next year, as it ramps up for an IPO in one of its fastest growing markets, a top company executive said. Europes biggest bank aimed to open 1520 new branches in China next year pending regulatory approval, up from the 90100 it would have at the end of this year, Sandy Flockhart, Asia chief executive, said in Taipei yesterday. (The Star Online, Malaysia -- Business)
Oil flat after traders reverse early gains Nov 3, 2009
Chinese manufacturing climbed to the highest level in 18 months, according to a purchasing managers index from HSBC Holdings Plc today and a government-backed index issued yesterday. "Its a great indication that the industrial component of these economies, which is the energy-intensive component, is doing better than it was," said Brad Samples, a commodity analyst for Summit Energy in Louisville, Kentucky. (Sydney Morning Herald -- Business)
Brazilian Stocks Trading in N.Y. Jump on U.S., China Manufacturing Growth Nov 3, 2009
Chinese manufacturing expanded at the fastest pace in 18 months, according to a purchasing managers index released by HSBC Holdings Plc today and also a government-backed PMI released yesterday. Manufacturing in the U.S. expanded in October at the fastest pace in more than three years. (Bloomberg -- Latin America)
RBS, Lloyds Get $51 Billion in Second Bailout Nov 3, 2009
HK), Bank of America Corp. (BAC), Citigroup Inc. (C), Goldman Sachs Group Inc. (GS), HSBC Holdings PLC (HBC), (HSBA.LN), J.P. Morgan Chase & Co. (JPM), (LLOY.LN), Lloyds TSB Group PLC (LYG), UBS AG (UBS), (UBSN.VX), (CH002489), (GB000540), (GB000870), (US060505), (US172967), (US38141G), (US46625H), ) at SmartMoney. com. (SmartMoney)
Lloyds Banking Will Raise $34 Billion in Rights Offer, Avoid Asset Program Nov 3, 2009
5 billion-pound share sale by HSBC Holdings Plc in March. The shares will be sold at a discount of 38 percent to 42 percent with the lowest possible price set at 15 pence, the bank said. (Bloomberg -- UK)
Mohi-uddin Heading to Asia for UBS Stays Dollar Bull as Growth Accelerates Nov 2, 2009
HSBC Holdings Plc is sending , chief executive officer of its global asset-management arm, to become CEO of its Hong Kong unit in February. the Morgan Stanley chief economist who predicted China will overtake the U.S. as the worlds dominant economy, relocated to Hong Kong in 2007. (Bloomberg -- Asia)
China's Manufacturing Expands at Fastest Pace in 18 Months, HSBC PMI Shows Nov 2, 2009
Manufacturing expanded at the fastest pace in 18 months, according to a released by HSBC Holdings Plc today and also a government-backed PMI released yesterday. The HSBC index rose to a seasonally adjusted 55. (Bloomberg -- Asia)
Oil buoyed by Chinese data Nov 2, 2009
Manufacturing in China, Asias fastest-growing economy, expanded in October, according to a purchasing managers index released by HSBC Holdings today and also a government-backed PMI released yesterday. Theres a lot of speculative activity thats pricing in a recovery, Mark Pervan, a senior commodity strategist at ANZ said. (Sydney Morning Herald -- Business)
Volkswagen Said to Be Weighing Purchase of Karmann Assets, Not the Company Oct 31, 2009
The whole rescue is a showpiece of state industrial policy, , an HSBC Holdings Plc analyst in Dusseldorf, Germany, said by telephone. Volkswagen is stepping in to save Karmann. (Bloomberg -- Germany)
Islamic Bonds Are Set for Record Gains as Nakheel Rebounds, GE Plans Sukuk Oct 26, 2009
Securities that follow Shariah laws, known as sukuk, have returned 27 percent this year, an HSBC Holdings Plc shows. Last year, the market fell four times as much as investment- grade corporate debt that doesnt comply with religious edicts against interest payments as oil prices tumbled and credit markets froze. (Bloomberg)
Petrobras Sells $4 Billion of 10-, 30-Year Bonds in Overseas Debt Markets Oct 24, 2009
Banco Santander SA, Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. arranged the bond sale, said a person familiar with the transaction who declined to be identified because hes not allowed to speak publicly. The Rio de Janeiro-based company will use proceeds of the bond sale to repay debt outstanding from a $6. (Bloomberg -- Latin America)
Malaysia's Najib Cuts Income Tax, Reduces Spending as Economy Recovers Oct 24, 2009
The budget signals the governments intention to reduce its direct involvement in the economy and encourage a greater role for the private sector, said , a Singapore-based senior economist at HSBC Holdings Plc. The new prime minister is at least trying to take the economy in a different direction. (Bloomberg -- Asia)
Topix May Struggle as Mizuho, Mitsubishi UFJ Raise Cash, Citigroup Says Oct 23, 2009
8 percent at London-based HSBC Holdings Plc, UBS said in a report last month. Emission Target. (Bloomberg -- Japan)
China May Add 11 Million Jobs This Year as Economic Recovery Gathers Pace Oct 23, 2009
Improvements in the labor market are very positive for consumption, said , a Hong Kong-based economist at HSBC Holdings Plc. At the same time, Chinas official jobless rate understates unemployment because it doesnt include millions of migrant workers. (Bloomberg -- Asia)
Budget gap may narrow to 7% of GDP Oct 22, 2009
The high budget deficit doesn t just reflect cyclical factors but structural ones as well, said Robert Prior-Wandesforde, an economist at HSBC Holdings Plc in Singapore. It s important this structural deficit is brought down quickly. (The Star Online, Malaysia)
King moots breaking up banks Oct 22, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
Lotte Shopping Is Said to Buy Control of China's Times, Beating Out Wumart Oct 19, 2009
Nomura Holdings Inc. is advising Lotte Shopping and HSBC Holdings Plc represents Times. a spokeswoman at HSBC, declined to comment. (Bloomberg -- Asia)
Yuan Forwards Strengthen for Fifth Day as Recovery Fuels Appreciation Bets Oct 19, 2009
3 percent last week, the biggest loss since the period ended Sept. 11, according to a local-bond index compiled by HSBC Holdings Plc. The yield on 10- year notes rose 15 basis points last week to 3. (Bloomberg -- Asia)
Lloyds Banking to Decide on $16 Billion Share Sale Within Next Seven Days Oct 18, 2009
UBS AG, Citigroup Inc., Bank of America Merrill Lynch, HSBC Holdings Plc, Barclays Capital and Goldman Sachs Group Inc. may arrange the share sale for Lloyds. JPMorgan Chase & Co. and Deutsche Bank AG are advising on the asset sale program, one of the people said. (Bloomberg -- UK)
HSBC's King Says Pound Crisis Is Always a Risk After BOE `Benign Neglect' Oct 18, 2009
Oct. 16 (Bloomberg) -- Britain faces the danger of a currency crisis after policy makers allowed the pound to become seriously undermined, HSBC Holdings Plc Chief Economist said. Theres always a risk of a sterling crisis, particularly about where we are currently, King said in an interview at an HSBC conference in London yesterday. (Bloomberg -- UK)
Petrobras Surges to World's Fifth-Largest Company, Surpassing China Mobile Oct 17, 2009
The market value of Petrobras has climbed above Berkshire Hathaway Inc., , International Business Machines Corp., Johnson & Johnson, BP Plc, , Royal Dutch Shell Plc, JPMorgan Chase & Co., BHP Billiton Ltd., and HSBC Holdings Plc this year, along with China Mobile and China Construction Bank. Bovespa Rally. (Bloomberg -- Latin America)
FTSE 100 Stock Index Declines, Led by HSBC, Vodafone After U.S. Earnings Oct 17, 2009
HSBC Holdings Plc and Vodafone Group Plc led the FTSE 100 Index lower after sales at General Electric Co. missed estimates and Bank of America Corp. posted a larger-than-expected loss. tumbled 23 percent after CVC Capital Partners Ltd. decided not to bid for the company. (Bloomberg -- UK)
Bovespa Falls on Valuation Concern, Metal Prices; Mexico's Bolsa Declines Oct 17, 2009
Mexico sends 81 percent of its exports to the U.S., according to , HSBC Holdings Plcs Latin American economist. Although Mexico has diversified in the past year, it is still very dependent on economic conditions in the U.S., Heath said. (Bloomberg -- Latin America)
Chile's Paz Corp to Start Search for Brazil Real Estate as Demand Recovers Oct 17, 2009
HSBC Holdings Plc today increased its estimate for the regions gross domestic product to 3. 8 percent from a prior forecast of 2. (Bloomberg -- Latin America)
Asian Currencies Advance for a Seventh Week as Growth, Yields Draws Funds Oct 17, 2009
The world has moved into a phase where carry trades are becoming the thing, said , a currency strategist at HSBC Holdings Plc in Hong Kong. Growth prospects in Asia look much stronger than those in the developed world. (Bloomberg -- Asia)
Pound Posts Biggest Weekly Gain Since June as Economy Starts to Recover Oct 17, 2009
Britain faces the danger of a currency crisis after policy makers allowed the pound to become seriously undermined, according to HSBC Holdings Plc Chief Economist. Policy Options. (Bloomberg -- UK)
OCBC Buys ING Asia Assets for $1.46 Billion Oct 16, 2009
OCBC beat four rivals, including HSBC Holdings PLC (HBC). Fellow Singaporean bank DBS Holdings Ltd. (D05. (SmartMoney)
Philippines $1 Billion Bond Sale More Than Twice Subscribed, Official Says Oct 16, 2009
5 percent and are expected to be priced during morning trading today in New York, according to guidance e-mailed to investors by arrangers Deutsche Bank AG, HSBC Holdings Plc and UBS AG.. The Southeast Asian nation has already sold dollar bonds twice in 2009 as an economic slump curbed and public spending increased. (Bloomberg -- Asia)
Controladora Mabe Hires HSBC, Bank of America to Arrange Dollar Bond Sale Oct 15, 2009
The Mexico City-based company hired HSBC Holdings Plc and Bank of America Corp. to arrange the sale, said the person, who declined to be identified because terms arent set. Mabe may sell as much as $300 million of 10-year bonds to refinance debt, according to Standard & Poors. (Bloomberg -- Latin America)
Deutsche Bank Hires Silva From JPMorgan to Head Latin America Debt Markets Oct 14, 2009
A graduate of the University of Pennsylvanias Wharton School in Philadelphia, Silva previously worked in debt capital markets at HSBC Holdings Plc. Corporate and government bond sales from emerging-market countries have soared 62 percent this year to $148. (Bloomberg -- Latin America)
Ellerbeck's Manslaughter Conviction Exposes the Lie of an `Idyllic' Life Oct 14, 2009
Oct. 14 (Bloomberg) -- , who helped manage $40 billion at HSBC Holdings Plcs global liquidity unit, sidestepped the turmoil that wreaked havoc on London bankers last year. At home, his crumbling marriage led to tragedy. (Bloomberg -- UK)
Oxbridge-Sounding Scammers in Spain Seduce British With Investing Schemes Oct 13, 2009
Back in London, ROK handled Damaks paperwork and shifted the money to an HSBC Holdings Plc bank account in Hong Kong. Share certificates, when they existed, were also mailed by ROK. Today, Botcher and Jenkins, the men who ran Blackwell, are serving prison sentences after pleading guilty in a London court in February to breaching two financial regulations and to money laundering. (Bloomberg)
Obama Dollar Retreats Most Against Commodity Producers in Wealth Transfer Oct 13, 2009
HSBC Holdings Plc economists and said in a report this month that the end of U.S. economic supremacy is at hand. Their report predicted the demise of the West amid ongoing struggles in the developed world and said that emerging market nations are set to dominate world economic activity in the years ahead. (Bloomberg -- US)
ING, Seeking Buyers for Assets in Asia, Holds Talks With Oversea-Chinese Oct 13, 2009
HSBC Holdings Plc and DBS Group Holdings Ltd. are also in talks to buy INGs wealth management unit in Asia, two people familiar with the matter said last week. The business may fetch at least $1. (Bloomberg -- Europe)
India Industrial Output Surges 10.4%, Making Policy Tightening More Likely Oct 12, 2009
The Purchasing Managers Index compiled by HSBC Holdings Plc and Markit Economics increased for a sixth straight month in September, according to an Oct. 1 report. The gauge rose to 55 last month from 53. (Bloomberg -- Asia)
Lloyds Banking Targets Share Sale of About $17.6 Billion, Times Reports Oct 9, 2009
The bank wants to keep the proceeds from a share sale below HSBC Holdings Plcs record 12. 5 billion-pound capital-raising in March, the Times said. (Bloomberg -- UK)
Emerging-Market Bonds Extend 2009 Rally as Global Recovery Attracts Funds Oct 8, 2009
Manufacturing and services output in developing economies expanded in the third quarter at the fastest pace in more than a year, according to an HSBC Holdings Plc purchasing managers survey published Oct. 6. Narrowing Spreads. (Bloomberg -- Latin America)
UK bank woes prompted riot fears Oct 7, 2009
Even so, the financial sector ``is not out of the woods,'' Michael Geoghegan, chief executive officer of HSBC Holdings Plc, Europe's biggest bank, told investors at a conference organized by Bank of America Merrill Lynch on Sept. 29. Back to normal. (Sydney Morning Herald -- Business)
Winters Shows JPMorgan Bankers a Path to Safety, Dimon Shows Him the Door Oct 7, 2009
HSBC Holdings Plc, and WestLB AG all were forced to bail out the so-called SIVs to avert fire sales of assets. That took a lot of bravery to stand up in a market that was growing, where people were making money, to step back and say, Were not going to do that, Sinacore said. (Bloomberg -- US)
Star Studded Turn-out at APEC CEO Summit in Singapore Oct 7, 2009
Mr Stephen Green, Chairman of HSBC Holdings, will reflect on the global financial crisis and the way ahead. Lending their insights to China's response to the global financial crisis are Mr Jiang Jianqing, Chairman of the Industrial and Commercial Bank of China, Mr Hermann Ude, CEO of DHL Global Forwarding, and Ms Marjorie Yang, Chairman of the Esquel Group. (JCN Network, Japan)
Stocks Pares Losses; Shares of HSBC, Rio Tinto, Anglo American Advance Oct 7, 2009
Oct. 7 (Bloomberg) -- U.K. stocks pared losses, led by HSBC Holdings Plc, Europes largest bank, and mining companies Rio Tinto Group and Anglo American Plc. The FTSE 100 Index added 0. (Bloomberg -- UK)
European stocks rise for first time in four days Oct 6, 2009
HSBC Holdings Chief Executive Officer Michael Geoghegan told the Financial Times that there may be a second global economic slump and he isn't convinced that the worst is over. Benchmark Indexes. (Sydney Morning Herald -- Business)
Subbarao Says India Central Bank Faces Dilemma on Timing of Rate Increases Oct 6, 2009
Inflation in India remains at elevated levels, thanks to persistently high food price rises, said , senior Asia economist at HSBC Holdings Plc in Singapore. Although the Reserve Bank of India has been sounding more hawkish recently, we doubt it will make a rate move this year. (Bloomberg -- Asia)
HSBC in $330 Million Sale of US Headquarters Oct 6, 2009
HK), HSBC Holdings PLC (HBC), (HSBA.LN), (GB000540)) at SmartMoney ... LONDON -(Dow Jones)- HSBC Bank USA NA, a wholly owned subsidiary of HSBC Holdings PLC (HBC), said Monday it has agreed the sale and leaseback of its headquarters building at 452 Fifth Avenue in New York for $330 million in cash. (SmartMoney)
* HSBC to sell New York building for US$330 million Oct 6, 2009
HSBC Holdings PLC, Europes largest bank, agreed to sell its New York City headquarters for US$330 million in cash to a company controlled by Israeli businessman Nochi Dankner. The London-based lender will lease back the tower at 452 Fifth Avenue, a company statement said. (Taipei Times, Taiwan -- World)
HSBC in US$330mil sale and leaseback deal on New York HQ Oct 5, 2009
HSBC Bank USA NA is a wholly owned subsidiary of HSBC Holdings plc. HSBC had negotiated a similar deal, valued at 1. (The Star Online, Malaysia -- Business)
Asian Stocks Decline as Roubini, U.S. Data Stoke Economic Growth Concerns Oct 5, 2009
HSBC Holdings Plcs chief executive officer, is convinced there will be a second global economic slump and as a result doesnt want the bank to grow too fast, the Financial Times cited him as saying. HSBC shares lost 0. (Bloomberg -- Asia)
Wal-Mart Bodegas Lift Profits in Recession as Mexicans Live `Day to Day' Oct 5, 2009
The Bodega Expresses -- 400-meter (1,312 feet) shops wedged into poorer neighborhoods -- are allowing Walmex to tap into demand for single-use boxes of cereal, milk and tortillas from Mexicans who buy meal-to-meal, according to HSBC Holdings Plc and Actinver SA. The World Bank forecasts the number of people living in poverty will swell by more than 4 million this year in Mexico, where the minimum wage is 55. 85 pesos ($4. (Bloomberg -- Latin America)
IFC to Work With Private Sector to Buy Toxic Assets Oct 4, 2009
"We think a lot of these banks will want to get these assets off their balance sheets, Thunell told reporters. He said banks also faced the threat of increasing non-performing loans. The International Monetary Fund warned earlier this week that corporate defaults have picked up in all regions, and investors expect the default rate to double in eastern Europe over the next year. The IMF has urged countries to clean up their banking sectors to ensure they are able to lend and don't hinder economic... (ABC News -- Business)
Norman Chan Takes Helm of Hong Kong Central Bank as Yuan Usage Increases Oct 2, 2009
Bank of East Asia Ltd. and HSBC Holdings Plcs China unit have already sold yuan bonds in Hong Kong this year, the first foreign banks to do so, and the city is participating in a trial program allowing the currencys use in trade settlement with the mainland. Chans main challenge will be making sure that banks are prepared for increased usage of yuan in the territory, said , head of Asia research in Singapore at ING Groep NV. He forecast the yuan will gradually be used for day-to-day... (Bloomberg -- Asia)
Manufacturing in China accelerates Oct 2, 2009
A manufacturing index released by HSBC Holdings on Wednesday also showed an expansion last month as a 4 trillion yuan (R4. 4 trillion) stimulus package countered a slump in exports. (Business Report, South Africa)
East European Shares Appreciate 65% Without Making Mobius Any Less Bullish Oct 2, 2009
In Russias case the gearing to global recovery is at very high levels, said , the head of emerging-market strategy at HSBC Holdings Plc in London. The market is outstandingly cheap, said Lomax, whose bank is the worlds second-biggest by market value. (Bloomberg)
China Manufacturing Grows for Seventh Month on Stimulus, Loans, PMI Shows Oct 1, 2009
A manufacturing index released by HSBC Holdings Plc yesterday also showed an expansion in September as a 4 trillion yuan ($586 billion) stimulus package countered a slump in exports. Manufacturing is likely to keep climbing steadily as investment, production and retail sales all rebound further and exports bottom out, said , an economist at Industrial Bank Co. in Shanghai. (Bloomberg -- Asia)
Brazil Sells 32-Year Bonds in First Overseas Issue Since Moody's Upgrade Oct 1, 2009
HSBC Holdings Plc and Barclays Plc arranged the offering, the person said. Brazil tapped overseas debt markets after Moodys lifted the countrys rating one level to Baa3 on Sept. 22, more than a year after Standard & Poors and Fitch Ratings boosted the country above junk. (Bloomberg -- Latin America)
Asian Stocks Rise for Seventh Month on Economic Growth Optimism, NGK Gains Sep 30, 2009
expanded for a sixth month in September on stimulus spending and record bank lending, an index from HSBC Holdings Plc showed. Holiday Buying. (Bloomberg -- Asia)
Crude Oil Rises on Decline in Dollar, Signs of a Global Economic Rebound Sep 30, 2009
Chinese manufacturing expanded on government stimulus spending and record bank lending, a purchasing managers index released by HSBC Holdings Plc showed. The index dropped to a seasonally adjusted 55 from 55. (Bloomberg -- Germany)
Barclays, U.K. Banks File $3.2 Billion of Claims in Lehman Bankruptcy Case Sep 26, 2009
Sept. 25 (Bloomberg) -- The U.K.s biggest financial institutions, including and HSBC Holdings Plc, filed more than $3. 2 billion of claims in s bankruptcy case. (Bloomberg -- UK)
US bank CEO pay dwarfs rest of world Sep 26, 2009
HSBC Holdings, the worlds third largest bank by market capitalisation, paid CEO Michael Geoghegan US$2. 8mil in 2008 much more than his Chinese counterparts but far less than JPMorgan paid Dimon. (The Star Online, Malaysia -- Business)
Age of Austerity Awaits G-20 as $9 Trillion Debt Haunts Rogoff, Greenspan Sep 25, 2009
Unwinding the will probably require leaders to raise taxes and cut spending, ushering in what HSBC Holdings Plc Chief Economist calls an age of austerity that saps growth prospects for years to come even amid recovery. The Organization for Economic Cooperation and Development predicts the world economys potential growth rate will fall to 1. (Bloomberg -- Canada)
