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Meng is accused in the US of defrauding HSBC by falsely misrepresenting links between Huawei and a company that sold telecoms equipment to Iran.(via AP)

Huawei confirms senior executive seeking HSBC records in Hong Kong court

AFP | | Posted by Harshit Sabarwal
UPDATED ON MAR 11, 2021 10:45 AM IST
Chief financial officer Meng Wanzhou -- whose father is the company's founder and CEO Ren Zhengfei -- has been in a two-year battle against extradition over charges Huawei violated US sanctions on Iran.
The bank is complying with its legal obligations and is "not in a position to judge the motives" of Hong Kong police, chief executive Noel Quinn said on Tuesday(Reuters)
The bank is complying with its legal obligations and is "not in a position to judge the motives" of Hong Kong police, chief executive Noel Quinn said on Tuesday(Reuters)

HSBC 'aiding crackdown on democracy' in Hong Kong, British lawmakers say

Reuters | , London
PUBLISHED ON JAN 26, 2021 09:41 PM IST
  • Founded in Hong Kong but headquartered in Britain, HSBC has historically tried to remain politically neutral. Recently however it has shown support for Beijing, most notably last June when its top executive in Asia signed a petition backing China’s imposition of a national security law on Hong Kong.
Britain’s biggest banks are strong enough to weather the double-blow from the pandemic and Brexit, the Bank of England concluded in its latest health check(REUTERS)
Britain’s biggest banks are strong enough to weather the double-blow from the pandemic and Brexit, the Bank of England concluded in its latest health check(REUTERS)

British banks fit to weather Brexit and Covid, says Bank of England

By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 11, 2020 07:02 PM IST
The BOE said HSBC Holdings Plc, Barclays Plc and other major lenders have sufficient capital to absorb losses in the coming months and the UK financial system can cope with the fallout from Brexit even without a trade agreement.
Huawei Chief Financial Officer Meng Wanzhou(Reuters photo)
Huawei Chief Financial Officer Meng Wanzhou(Reuters photo)

Huawei CFO Meng Wanzhou back in Canadian court fighting US extradition case

Vancouver | By Reuters | Posted by Niyati Singh
UPDATED ON SEP 28, 2020 02:38 PM IST
Huawei Technologies Chief Financial Officer Meng Wanzhou will be back in a Canadian courtroom on Monday as her lawyers resume their fight to block the United States’ efforts to extradite her.
The BSE Sensex closed at 38,034.14, down 2.09%, while the Nifty 50 ended at 11,250.55, down 2.46%.
The BSE Sensex closed at 38,034.14, down 2.09%, while the Nifty 50 ended at 11,250.55, down 2.46%.

Markets plunge on global cues as virus stokes lockdown fears

Hindustan Times, Mumbai | By Nasrin Sultana, Mumbai
UPDATED ON SEP 22, 2020 04:52 AM IST
Markets in Asia-Pacific were further hurt as Hong Kong-listed shares of Standard Chartered and HSBC, both named in the FinCEN Files for alleged money laundering, plunged.
A man wearing a protective mask walks past a logo of HSBC at its headquarters.(Reuters)
A man wearing a protective mask walks past a logo of HSBC at its headquarters.(Reuters)

HSBC shares fall to 25-year low on China fears, banks report

By Bloomberg | Posted by Shivani Kumar
UPDATED ON SEP 21, 2020 03:07 PM IST
The London-based bank’s Hong Kong shares on Monday slid below their closing low for March 2009, hitting as low as HK$29.60.
Five global banks appeared most often in the documents — HSBC Holdings Plc, JPMorgan Chase & Co, Deutsche Bank AG, Standard Chartered Plc and Bank of New York Mellon Corp, the ICIJ reported.(Reuters)
Five global banks appeared most often in the documents — HSBC Holdings Plc, JPMorgan Chase & Co, Deutsche Bank AG, Standard Chartered Plc and Bank of New York Mellon Corp, the ICIJ reported.(Reuters)

‘FinCEN’ documents reportedly show banks moved illicit funds: Report

By Reuters | Posted by Shivani Kumar
UPDATED ON SEP 21, 2020 06:13 AM IST
The media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCen).
To make matters worse, HSBC sparked anger in Hong Kong earlier this year, alienating some of its most loyal investors, after scrapping its dividend in response to the pandemic.(Bloomberg Photo)
To make matters worse, HSBC sparked anger in Hong Kong earlier this year, alienating some of its most loyal investors, after scrapping its dividend in response to the pandemic.(Bloomberg Photo)

HSBC shares slump below level last seen in 2008 financial crisis

By Bloomberg| Posted by: Harshit Sabarwal
UPDATED ON SEP 19, 2020 12:10 AM IST
The London-based bank’s UK shares on Friday slid below their closing low for March 2009, hitting 304p, as they extended this year’s plunge to almost 49%. This marks HSBC’s lowest closing price in London since 1998.
HSBC logo is seen on a branch bank in the financial district in New York, US.(Reuters)
HSBC logo is seen on a branch bank in the financial district in New York, US.(Reuters)

HSBC first-half profit plunges 65%, warns loan losses could hit $13 billion

London/ Hong Kong | By Reuters | Posted by Shivani Kumar
UPDATED ON AUG 03, 2020 11:04 AM IST
Europe’s biggest bank by assets reported on Monday a pre-tax profit of $4.32 billion for the first six months this year, lower than the $5.67 billion average of analysts’ estimates compiled by the bank.
HSBC has become embroiled in Huawei’s legal fight to block a US request to extradite Chief Financial Officer Meng Wanzhou from Canada to face trial over allegedly violating US sanctions on Iran.(Reuters file photo)
HSBC has become embroiled in Huawei’s legal fight to block a US request to extradite Chief Financial Officer Meng Wanzhou from Canada to face trial over allegedly violating US sanctions on Iran.(Reuters file photo)

HSBC denies ‘framing’ Huawei, didn’t prompt US legal probe

By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JUL 27, 2020 07:50 AM IST
In its first public comments about Huawei’s legal battle in North America, the UK bank said it has no “hostility” toward Huawei and didn’t “ensnare” the company. The bank said it only provided information to the US Department of Justice when it was compelled to do so.
A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia.(REUTERS)
A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia.(REUTERS)

HSBC revives plan to axe 35,000 jobs: Report

London | By Reuters | Posted by: Shankhyaneel Sarkar
UPDATED ON JUN 17, 2020 12:14 PM IST
In March, HSBC had postponed the job cuts, part of a wider restructuring to cut costs, saying the extraordinary circumstances of the Covid-19 pandemic meant it would have been wrong to push staff out.
Representational image.(File)
Representational image.(File)

BWF suspends all its tournaments till July

Press Trust of India | By Press Trust of India
UPDATED ON APR 06, 2020 06:08 PM IST
According to a BWF release, the decision was taken in “close consultation and consensus” with the Host Member Associations (HMA) and Continental Confederations (CC).
HSBC building is seen at Canary Wharf in London(REUTERS/ Representative Image)
HSBC building is seen at Canary Wharf in London(REUTERS/ Representative Image)

HSBC to cut up to 10,000 jobs to slash costs: Report

Bloomberg | By Craig Giammona and Nathan Crooks
UPDATED ON OCT 07, 2019 07:11 AM IST
The HSBC bank, one of several European lenders eliminating roles, is questioning why it has so many people in Europe when it has double-digit returns in parts of Asia,
A HSBC and a Barclays bank building is seen at Canary Wharf in London.(Photo: Reuters)
A HSBC and a Barclays bank building is seen at Canary Wharf in London.(Photo: Reuters)

HSBC lays off 150 employees from back offices in India

Mumbai | By Press Trust of India
PUBLISHED ON AUG 22, 2019 08:06 PM IST
Job impacts at HSBC are “less than 150” and this is a part of “realignment as part of ongoing operations” at the lender, which employs 2.38 lakh people globally, the sources said.
A HSBC and a Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. REUTERS/Stefan Wermuth - RC12506A0300(REUTERS)
A HSBC and a Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. REUTERS/Stefan Wermuth - RC12506A0300(REUTERS)

Former HSBC banker pleads guilty in $1.8 billion French tax case

Bloomberg | By Gaspard Sebag
UPDATED ON AUG 07, 2019 06:11 PM IST
The former HSBC executive also pleaded guilty to illegally approaching French residents to encourage them to shift funds to Switzerland
Switzerland was known as an alleged safe haven for black money before it bowed down before global pressure and agreed to bring down the famed secrecy walls.(HT File (Representative Image))
Switzerland was known as an alleged safe haven for black money before it bowed down before global pressure and agreed to bring down the famed secrecy walls.(HT File (Representative Image))

11 Indians get notices from Switzerland to share bank info

New Delhi/Berne | By Press Trust of India
UPDATED ON MAY 27, 2019 10:18 AM IST
Since March, at least 25 notices have been issued by the Swiss authorities to Indian clients of Switzerland-based banks in which they have been given one last chance to appeal against sharing of their details with India.
The Attorney General said in the Supreme Court on Wednesday that the government intended to invoke the Official Secrets Act against newspapers that published documents on the Rafale jet fighter deal and the petitioner.(Amal KS/HT File PHOTO)
The Attorney General said in the Supreme Court on Wednesday that the government intended to invoke the Official Secrets Act against newspapers that published documents on the Rafale jet fighter deal and the petitioner.(Amal KS/HT File PHOTO)

Leaked documents did not deter probe, action in other key cases

Hindustan Times, New Delhi | By Rajeev Jayaswal and Ashok Bagriya
UPDATED ON MAR 07, 2019 08:00 AM IST
Experts say the sources of documents or information have not mattered in the past so long as such leaks were made in public interest or to bring to light irregularities in government transactions, and hadn’t been obtained for the purpose of espionage.
A Valentine’s day special deal for HSBC staff in Hong Kong offering discounted laptops ‘for him’ but vacuum cleaners and kitchen appliances ‘for her’ has angered staff.(REUTERS)
A Valentine’s day special deal for HSBC staff in Hong Kong offering discounted laptops ‘for him’ but vacuum cleaners and kitchen appliances ‘for her’ has angered staff.(REUTERS)

Laptop ‘for him’, vacuum ‘for her’. HSBC draws ire with Valentine’s Day offer

London | By Reuters
UPDATED ON FEB 14, 2019 08:34 PM IST
The offer has drawn criticism from HSBC staff both in Hong Kong and in London, where it was posted in an internal chatroom, according to a source who shared images of it with Reuters.
The PMC has undertaken the construction of one kilometre of road from HSBC towers in Kalyaninagar to the Gunjan chowk, Yerwada which will pass through the Dr Salim Ali Bird Sanctuary causing a major damage to one of the most important green belts of the city.(HT FilePhoto)
The PMC has undertaken the construction of one kilometre of road from HSBC towers in Kalyaninagar to the Gunjan chowk, Yerwada which will pass through the Dr Salim Ali Bird Sanctuary causing a major damage to one of the most important green belts of the city.(HT FilePhoto)

309 trees in Dr Salim Ali Bird Sanctuary cut without assessment study, says Pune’s civic body

Hindustan Times, Pune | By HT Correspondent
UPDATED ON JAN 22, 2019 02:37 PM IST
The Pune Municipal Corporation (PMC) officials have accepted their fault during a meeting held between the officials and the Save Salim Ali bird sanctuary group. 
A former Geneva-based HSBC Holdings Plc banker and two of his brothers are at the center of a ring that prosecutors say laundered drug money by providing wads of bills at secret meetings in Paris to dozens of well-to-do individuals seeking to spend loot they’d stashed in offshore accounts.(REUTERS)
A former Geneva-based HSBC Holdings Plc banker and two of his brothers are at the center of a ring that prosecutors say laundered drug money by providing wads of bills at secret meetings in Paris to dozens of well-to-do individuals seeking to spend loot they’d stashed in offshore accounts.(REUTERS)

Band of brothers: An HSBC banker, drug money and 20-euro notes

Paris | By Bloomberg
PUBLISHED ON OCT 02, 2018 07:30 PM IST
The allegations are part of a blockbuster French criminal case where Nessim El Maleh, formerly a director at HSBC Private Bank Suisse, and his sibling Meyer, who ran Geneva wealth-management firm GPF SA, are on trial for multiple counts of money laundering.
Finance Minister Piyush Goyal speaks in the Lok Sabha during the Monsoon session of Parliament, in New Delhi on Tuesday, Aug 7, 2018.(PTI)
Finance Minister Piyush Goyal speaks in the Lok Sabha during the Monsoon session of Parliament, in New Delhi on Tuesday, Aug 7, 2018.(PTI)

India expects HSBC account data from Switzerland in 10 days: Piyush Goyal

New Delhi | By Press Trust of India
UPDATED ON AUG 08, 2018 09:08 AM IST
Though there are no official estimates of such money stashed in foreign countries a tax demand of Rs 5,447 crore has been made in HSBC undisclosed income of Rs 8,448 crore, Goyal said in the Rajya Sabha during the Question Hour.
HSBC bank signage is pictured in Singapore.(REUTERS File Photo)
HSBC bank signage is pictured in Singapore.(REUTERS File Photo)

Amitabh Malhotra appointed head of investment banking at HSBC India

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUL 13, 2018 02:09 PM IST
Prior to HSBC, Amitabh worked at Rothschild India, where he was the co-head and managing director of the Global Investment Bank, based in Mumbai. He has also worked with KPMG and J P Morgan.
The Enforcement Directorate (ED) initiated the action under the provisions of the Foreign Exchange Management Act (FEMA).
The Enforcement Directorate (ED) initiated the action under the provisions of the Foreign Exchange Management Act (FEMA).

ED seizes Rs 20.87 crore assets of Dabur’s Pradip Burman in probe of HSBC black money list

Press Trust of India, New Delhi | By Press Trust of India
PUBLISHED ON MAY 22, 2018 03:08 PM IST
ED said the assets were seized after it was found that Burman deposited $32.12 lakh in his account with HSBC bank in Zurich in Switzerland and that he “did not” show this amount in his IT Returns filed during 2007-08 despite declaring it to the taxman that this was his earning.
The rise in protectionism is leading to an increase in the cost of doing international business, altering trade routes and raising hurdles to obtaining trade finance, the survey said.(Reuters Representative Photo)
The rise in protectionism is leading to an increase in the cost of doing international business, altering trade routes and raising hurdles to obtaining trade finance, the survey said.(Reuters Representative Photo)

Indian firms most concerned about rising protectionism: HSBC Report

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAR 21, 2018 02:06 PM IST
According to HSBC’s global survey that covered 6,000 companies in 26 markets, nine in ten businesses in India feel governments are turning increasingly protectionist.
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