Monday 6 July 2015
 
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HSBC

ING set to win auction for HSBC's Turkish bank

Dutch lender ING Group is set to win the auction to buy HSBC's Turkish business, people familiar with the matter said. Four people familiar with the situation said HSBC had narrowed the field to one suitor, with two of the sou

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HSBC faces $2.4bn bill for new ringfencing rules

HSBC will face a bill of around 1.5 billion pounds ($2.4 billion) to shield its domestic retail customers from riskier parts of its operations, the chairman of its UK business told lawmakers on Tuesday. The Bank of England has tol

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HSBC wins Saudi foreign investor licence

HSBC Holdings has received a qualified foreign investor licence in Saudi Arabia and traded shares on the bourse yesterday (June 15), the first day that direct foreign investment was allowed, the bank said. Saudi Arabia’s Cap

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HSBC overhaul, up to 50,000 job cuts

HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. Chief executive Stuart Gulli

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HSBC prepares to axe jobs, businesses

HSBC is set to cut thousands of staff, axe businesses in Brazil and Turkey and shrink its investment bank in a fresh attempt to become simpler and improve its financial performance. Chief executive Stuart Gulliver is due to outlin

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HSBC set to cut thousands of jobs worldwide

HSBC Holdings  could announce thousands of job cuts at a strategy day next week, Sky News reported on Monday, part of chief executive Stuart Gulliver's overhaul plan that could also see him sell operations in Brazil and Turkey and take

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Qatar, Bahrain banks among bidders for HSBC Turkey

Potential bidders for HSBC's Turkish business include ING Group, Qatar National Bank (QNB) and Bahrain-based Arab Banking Corp (ABC), people familiar with process said on Friday. Four sources said Dutch bank ING and Qatar Nati

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Saudi mid-market firms generate $232bn turnover

Saudi Arabia’s mid-market enterprises (MMEs), defined as firms with annual sales between of between $50 million to $500 million, generate $232 billion turnover, a report said. There are an estimated 1,980 MMEs, added the rep

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HSBC looks at moving HQ away from Britain

HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investmen

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HSBC unit raises $205m in Malaysia sukuk sale

The Malaysian Islamic banking arm of HSBC Holdings has raised 750 million ringgit ($205 million) from the sale of a five-year Islamic bonds (sukuk) at a yield of 4.24 per cent, IFR reported. The sale is the third tranche of the le

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