Tuesday 4 August 2015
 
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HSBC

HSBC to sell Turkish unit to ING

HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700-$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday. ING, which already has a presence in Tur

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Tunisia to block HSBC settlement in Geneva

Tunisia has filed an objection to HSBC's agreement to pay 40 million Swiss francs ($42.5 million) to settle a money laundering investigation at its Swiss private bank, Swiss newspaper SonntagsZeitung reported on Sunday.

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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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