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Bank On HSBC Holdings (NYSE: HBC) And The Asian Equation

Wed, 04 Nov 2009 20:03:20 GMT

“Go west, young man, go west!” Written by Indiana journalist John Soule in 1851 and popularized by New York Tribune founder Horace Greeley the same year, that now-famous saying advised people to take advantage of the rapid growth in the United States as the country expanded westward across the North American continent.[More...]

Daily Highlights: Sept 8, 2009

Tue, 08 Sep 2009 13:12:00 GMT

Asian markets were mostly higher Tuesday; Taiwan up 1.2% on Cabinet reshuffle.China plans to offer 6B yuan ($879M) of government bonds in Hong KongChina showcases commercial jet at Asia air showChina 2009 vehicle sales may rise 28% on stimulus, probably surpassing US.ECB says significant contraction in euro-zone economy has ended; rates unchanged.G-20 finance chiefs propose banks curb bonuses, increase capital holdings.[More...]

Honesty Hurts Cries Timmy Geithner And The Federal Reserve

Thu, 27 Aug 2009 16:38:24 GMT

Crocodile Tears are flowing at the Federal Reserve and US Treasury after Manhattans district judge Loretta Preska’s August 24 decision to allow an audit of the Fed’s ballooning balance sheet. Under the freedom of information act, this would allow taxpayers who are unwilling investors in this racketeering game to see who has borrowed their money under the Fed’s new lending programs to enable zombie banks a new lease on a life they didn’t earn and don’t deserve.[More...]

Gold and Silver Under Pressure, But Always Impressive

Wed, 19 Aug 2009 06:20:35 GMT

There are few objects of monetary value that are more striking than a one ounce gold or silver coin. The Canadian Mapleleafs are also strikingly attractive. Everyone should have some locked away safely in a safe deposit box or depository institution, and every now and then, go visit them at the bank or wherever you have them stored and remind yourself how enduring they really are.[More...]

Is 'Cash For Clunkers' Salvaging Metals?

Mon, 10 Aug 2009 17:01:51 GMT

The metals markets have seen a boost from the government's CARS program -– but can the good times last? The psychological impact of CARS‘Wishful thinking' in the steel markets?Is U.S. platinum miner in trouble?[More...]

The Two Indicators That Show The Recession Is Ending

Mon, 10 Aug 2009 14:50:00 GMT

Investors are being flooded with economic reports, many of them contradictory in nature. From that confusing gaggle, two indicators hint at an upbeat outcome: * The torrid stock-market rally that’s been dominating headlines in recent weeks. * And[More...]

This Inflation Gauge Just Ticked Higher Again… Four Ways To Fight Back

Wed, 05 Aug 2009 16:14:39 GMT

We’ve all heard that the stock market always looks forward, never back. You can see the proof. Just take a look at companies that recently announced great earnings, but still hedged their bets on future guidance.[More...]

Wall Street Rallies On Economic Data, Alcoa (NYSE: AA) Soars

Mon, 03 Aug 2009 21:25:27 GMT

US stocks finished up on Monday on upbeat manufacturing and construction spending data.[More...]

US Stock Futures Point To Stronger Start, Ford (NYSE: F) Eyed

Mon, 03 Aug 2009 13:05:00 GMT

US stock futures climbed higher on Monday after European banking giants HSBC and Barclays reported positive results.[More...]

Bond Mmarket Open 08-03-2009

Mon, 03 Aug 2009 12:28:00 GMT

Prices of Treasury coupon securities have slumped in overnight trading and have partially reversed some of the prices gains and curve flattening which transpired in Friday’s session. The Nikkei in Japan declined but most other global equity markets are posting sharp gains and pre market trading indicates that US markets will open with roust gains. I am always a better bear regarding equities markets and fared much better the last several years as markets ate their young. Currently,I have very modest holdings of mostly defensive equities and have been too quick too hedge even those core holdings. I am not about to plow in a big wad of cash at this juncture but must admit that the equity market move is substantial and impressive. I guess this personal digression and mea culpa is prompted by a perusal of the overnight economic data. When we were in the throes of the bear market all of the small items of news which I culled from the overnight[More...]

Mickelson jumps to lead in Shanghai

Sat, 07 Nov 2009 12:05:00 GMT

Mickelson jumps to lead in Shanghai[More...]

UPI Sports Calendar for Saturday, Nov. 7

Sat, 07 Nov 2009 03:27:00 GMT

UPI Sports Calendar for Saturday, Nov. 7[More...]

Woods pulls into tie for lead in Shanghai

Fri, 06 Nov 2009 11:33:00 GMT

Woods pulls into tie for lead in Shanghai[More...]

UPI Sports Calendar for Friday, Nov. 6

Fri, 06 Nov 2009 03:26:00 GMT

UPI Sports Calendar for Friday, Nov. 6[More...]

UPI Sports Calendar for Thursday, Nov. 5

Thu, 05 Nov 2009 03:47:00 GMT

UPI Sports Calendar for Thursday, Nov. 5[More...]

Poll: Desire for Climate Change Code High

Mon, 02 Nov 2009 17:51:00 GMT

A majority of people say it is vital to reach agreement at the U.N. climate change negotiations in Denmark, a global financial institution survey indicated.
The HSBC's 2009 Climate Confidence Monitor, released Monday, showed 65 percent said they believed it was very important to reach a deal during negotiations in December in Copenhagen on a successor document to the Kyoto protocol on greenhouse gas emission.
Seventy-nine percent of people surveyed said they favored emission reduction targets as well.

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Foreign exporters bemoan currency rates

Thu, 29 Oct 2009 19:26:00 GMT

Foreign exporters bemoan currency rates[More...]

HSBC Unable to Reliably Estimate Cost of Litigation in State Over Madoff Fraud

Thu, 29 Oct 2009 07:56:00 GMT

HSBC IRELAND has said the group cannot reliably estimate the cost of lawsuits being brought in this jurisdiction over money lost in Bernard Madoff's $65 billion ([euro]44 billion) Ponzi scheme.
HSBC Holdings, Europe's largest bank, is facing lawsuits in Ireland by investors over how it performed as custodian for money lost in the Madoff scheme.
In accounts filed with the Companies Registration Office for the 12 months to the end of December last, HSBC Security Services Holdings Ireland noted that proceedings concerning Madoff had been brought in various jurisdictions including Ireland with an aggregate net asset value of $8.4 billion.

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Evening Standard, London, Market Report Column

Wed, 28 Oct 2009 19:50:00 GMT

Oct. 28--There was no let-up for the banks this morning as they came under fresh selling pressure in the wake of the EU's insistence that the Dutch state-aided bank ING must be split in two.
Both have received billions of pounds in government aid with the taxpayer now owning 43 percent of Lloyds and 70 percent of RBS. Investors fear the EU may force Lloyds to divest itself of mortgage lender Halifax, which it bought earlier this year as part of HBOS.
The share prices of both banks remain underwater with the taxpayer only starting to break even on its investment when the Lloyds price hits 122.6p and RBS 50.5p.

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HSBC Facing Lawsuits in Ireland Over Madoff Scam ; Investors in Ireland Sue Bank Over Its Role As Custodian

Fri, 16 Oct 2009 05:46:00 GMT

HSBC HOLDINGS, Europe's largest bank, is facing lawsuits in Ireland by investors over how it performed as custodian for money lost in Bernard Madoff's $65 billion Ponzi scheme.
The Commercial Court may rule today on whether investors must wait to pursue claims against HSBC until suits by mutual funds that used the bank as a custodian are resolved.
Two Irish funds suspended redemptions due to exposure to Madoff.

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HSBC Trade Confidence Index Reveals Positive Outlook on Global Economy Among Small and Mid-Market Businesses Worldwide

Tue, 29 Sep 2009 15:46:00 GMT

The latest HSBC Trade Confidence Index uncovered growing confidence in the state of global trade, indicating that exporters and importers might be seeing the start of an economic recovery.
The HSBC Trade Confidence Index, which surveyed over 3,500 small and mid-market businesses (SMEs and MMEs) in 12 major global markets, showed an overall positive outlook with an average global reading of 110 on a scale of 0 to 200, with 100 as a neutral reading.
Over 40 percent of SMEs and MMEs surveyed in the United States expect an increase in trade volumes over the next three months (41%).

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Fitch Assigns Int'L Ratings to HSBC Bank Chile; Affirms National Ratings

Mon, 03 Aug 2009 21:45:00 GMT

Fitch Ratings has assigned the following ratings to HSBC Bank Chile:
The Rating Outlook is Negative, reflecting the same Outlook on the ratings of its parent.
At the same time, Fitch has affirmed the bank's national long- and short-term rating of 'AAA(cl)' and 'N1+(cl)', respectively.

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HSBC Finance Corporation Declares Dividend for Holders of Series B Preferred Stock

Fri, 24 Jul 2009 17:04:00 GMT

HSBC Finance Corporation (NYSE:HBC) announced today that its board of directors declared the regular quarterly cash dividend on the company's Series B preferred stock of $0.3975 per depositary share payable September 15, 2009, to shareholders of record on September1, 2009.
About HSBC Finance Corporation
HSBC Finance Corporation, through its subsidiaries, provides credit cards and private label credit cards, taxpayer financial services and specialty insurance products, as well as servicing real estate secured and unsecured loans.

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HSBC USA Inc. Declares Dividends for Holders of Preferred Stock

Fri, 24 Jul 2009 17:03:00 GMT

HSBC USA Inc. (NYSE:HBC) announced today that its board of directors
declared the regular quarterly cash dividend on the company's preferred
stock as follows, each such dividend payable on October 1, 2009 to

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World's Largest Expat Survey Reveals Crunch Hits Expats Hard

Wed, 24 Jun 2009 18:56:00 GMT

LONDON, June 24 /PRNewswire/ --
HSBC Bank International today revealed that the current economic crisis has had a significant impact on expats' financial situation, according to the world's largest survey of expats, Expat Explorer.
The first of three instalments of this year's survey, Expat Economics, showed that expats have reduced spending across the board, with the UK and the US identified as having some of the highest numbers of expats considering a move home.

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The Securities Law Firm of Klayman &Amp; Toskes Files Arbitration Claim Against Citigroup on Behalf of Investors Whose Accounts Were Over-Concentrated in Preferred Financial Stocks

Fri, 05 Jun 2009 21:49:00 GMT

The Securities Law Firm of Klayman & Toskes ("K&T"), www.nasd-law.com, announced today that it filed an arbitration claim against Citigroup Global Markets, Inc. (NYSE: C) on behalf of two investors, for losses sustained as a result of unsuitable investment recommendations.
Instead of recommending a conservative investment strategy to reduce the investors' risk, Citigroup recommended a strategy that concentrated the investors' assets in preferred financial stocks, including Citigroup, Fannie Mae (NYSE: FNM), Bank of America (NYSE: BAC), Deutsche Bank (NYSE: DB) HSBC (NYSE: HBC), ING Groep (NYSE: ING), Barclays (NYSE: BCS), Credit Suisse (NYSE: CS), and Merrill Lynch (NYSE: MER).
The claim filed against Citigroup focuses on the broker's recommendation to purchase numerous preferred banking stocks, representing that they were conservative fixed income products.

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HSBC Bank Brazil Provides Full Integration Between Its Electronic Channels With M-Banking and VASCO DIGIPASS for Mobile

Tue, 02 Jun 2009 09:49:00 GMT

It's the first bank in Brazil to offer integrated m-banking services based on VASCO's DIGIPASS for Mobile(R) and social security number.
DIGIPASS for Mobile enables among others cash withdrawals from ATM using social security number and mobile phone as authentication device.
OAKBROOK TERRACE, Ill. and ZURICH, June 2 /PRNewswire-FirstCall/ - - VASCO Data Security International, Inc. (Nasdaq: VDSI) (www.vasco.com), a leading software security company specializing in authentication products enabled HSBC Bank Brazil to roll out fully integrated m-banking services for its retail customer base thanks to VASCO's DIGIPASS for Mobile.

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U.S. Companies Seek to Increase Sales Abroad While Tackling Global Economic Challenges

Thu, 28 May 2009 18:47:00 GMT

HSBC Bank USA, N.A. announced today the results of its second annual survey of U.S. mid-sized companies, a vital yet under-researched segment of the U.S. economy accounting for nearly US$6 trillion in annual sales.*1 The poll of 500 senior financial executives from companies with annual sales between US$20 million and US$5 billion focused on the opportunities and challenges they face when operating in multiple markets worldwide either by selling or sourcing goods and services.
HSBC's U.S. Survey on International Business found that the portion of executives planning to increase their overseas sales targets rose from 49% in 2008 to 56% in 2009, underscoring continued interest for global expansion even during the midst of worldwide economic challenges.
However, the survey also notes that growth in U.S. companies' overseas revenue has slowed significantly, with only 52% of corporate financial executives saying international sales are outpacing domestic sales, compared to 67% a year prior.

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HSBC Expands Branch Network in Washington, D.C.

Thu, 07 May 2009 13:53:00 GMT

HSBC, one of the world's largest financial services organizations, has opened the doors to its latest retail branch in the heart of historic Georgetown, Washington, D.C. With the addition of this facility, HSBC now has a total of nine retail branches and a dedicated commercial banking office in the Washington, D.C. area, employing some 130 people and serving tens of thousands of customers.
HSBC's network in over 80 countries and territories is perfectly aligned to Washington, D.C., with its high concentration internationally-orientated individuals and businesses that benefit from both a well established on-the-ground HSBC branch presence and its extensive global reach.
Aimee Daniels, HSBC's Mid-Atlantic Regional President, said, "Georgetown, with its strong cross-border connections, was the obvious place in which to expand our Washington, D.C. branch network.

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Fitch Affirms HSBC Bank's (Uruguay) Ratings

Tue, 28 Apr 2009 22:01:00 GMT

Fitch Ratings has affirmed HSBC Bank (Uruguay) S.A.'s ratings as follows:
The international ratings of HSBC Bank (Uruguay) are constrained by those of the sovereign.
HSBC Bank (Uruguay)'s operating revenues were strongly affected in 2008 by a sharp increase in non-interest expenses due to the expansion of its commercial network and the pressure on its net interest margin as a consequence of the rise in liquidity requirements and the fall in international interest rates that affected its placements in foreign banks.

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