HSBC gives way on student overdrafts after Facebook campaign
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Banking giant HSBC has reversed a decision to scrap interest-free overdrafts for university graduates after a campaign launched on the Internet social networking site Facebook, it said Friday.
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HSBC, the UK's largest bank, is targeted for a shake-up by a high-profile US group of activist investors.
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Oxford University is to bring in bursaries worth up to Â£13,000 for students from low-income homes.
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A campaign is launched to help people who put money into savings clubs to prevent a repeat of the Farepak disaster.
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Are bank overdraft charges designed to drive you into debt?
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HSBC Holdings Plc has contacted Lone Star about buying Korea Exchange Bank (KEB) from the U.S. private equity fund, the UK's Daily Telegraph reported on Tuesday.
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HONG KONG (CBS.MW) -- British bank HSBC may make an offer for the $3 billion credit card portfolios of Macy&#39;s and Bloomingdale&#39;s department stores, according to a report published Tuesday.
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HSBC cash machines will warn customers if a withdrawal will take them over their overdraft limit, the bank says.
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HSBC Holdings, Europeâs biggest bank, agreed to buy a 51 percent stake in Korea Exchange Bank for $6.3 billion as it attempts to bolster its presence in the fast-growing Asian market. The purchase of the stake from the United States private equity group Lone Star Funds would allow Lone Star, based in Dallas, to exit a controversial investment. HSBC, based in London, said that it did not intend to make an offer for the remainder of the Korean bankâs shares and that the bank would remain listed on the Korea Exchange. The acquisition would catapult HSBC past its foreign rivals Standard Chartered and Citigroup. Both have bested HSBC in the past in purchasing local banks during the post-Asian crisis turmoil. A local court in South Korea has been investigating allegations that Lone Star manipulated the stock price of the Korean bankâs credit card unit in 2003 so that the bank could take it over at a lower price.
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Business & money: 9.30am: Shares in the bank jumped almost 3% after recommendation.
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Global banking giant HSBC Holdings announced a a 35.5-percent surge in bad debts in 2006 owing to increased defaults by US borrowers, with net profit showing a modest 4.7 percent rise over the period.
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Global banking giant HSBC Holdings announced a a 35.5-percent surge in bad debts during 2006 owing to increased defaults on home loans by high-risk US borrowers.
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Ed Mierzwinski is trying to get the word out to college students that the free T-shirt or teddy bear or sub sandwich they accept in exchange for signing up for a credit card could end up costing them a lot of financial heartache.
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A glitch leaves customers of HSBC bank unable to use its internet services as well as cash machines.
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TAIPEI/HONG KONG  - HSBC  will receive T$47.5 billion (US$1.5 billion) in Taiwan government funds and make a major cash infusion to rescue the failed Chinese Bank, in the latest Taiwan acquisition by a major foreign bank.
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Also: New Zealand teen runs internet banking scam. Read these stories and more from around the Web on News.com Extra.
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An online offer you can refuse Thanks very much this chilly Friday to reader "souleh" for drawing our attention to a once-in-a-lifetime loan offer from the Bank of Scotland, currently wowing punters down at fish4:â¦