Losses in Home Loans Prompt HSBC to Shake Up Management of Unit
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Michael Geoghegan, chief executive of HSBC, said that the loan-loss difficulties were isolated to its American consumer finance arm.
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HSBC  is poised to put hundreds  of its French regional retail branches up for sale, a further  sign the bank is shifting its focus to emerging markets,  according to media reports on Sunday.
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The bank was hurt by a spike in consumer credit costs and the poor performance of an investment banking unit.
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Bear Stearns Cos. Inc.  on  Friday replaced the head of its asset management business after  two of the investment bank&#39;s hedge funds hit rock bottom by  making bad bets on risky mortgages.
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A U.S. real estate fund has sued HSBC Holdings  alleging the British bank's U.S. mortgage trading operation took advantage of the credit crisis to profit at the expense of the fund, the Wall Street Journal reported.
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HSBC Holdings said its charge for bad debts would be more than $10.5 billion for 2006 because of problems in its mortgage portfolio.
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ATTEMPTS by mining house Gold Fields attempts to resist rival Harmony&#39;s hostile takeover bid were dealt a major blow yesterday, after a last-minute switch by Sanlam Asset Managers effectively torpedoed its plan to list its international assets in Canada.
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Chancellor steps in to halt run on accounts after crisis-hit mortgage lender's shares dive.
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Sale process for stricken bank in disarray as private equity firm fails to submit an offer
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HSBC warns bad debt provisions will be about 20% higher than expected due to problems at its US mortgage business.
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The head of North American operations at HSBC quits a week after it warned on profits at its US housing business.
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Mortgage lender's shares plummet more than 20% after Bank of England intervention.
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HSBC said it would close Decision One Mortgage, cutting 750 jobs and taking $945 million in charges and write-downs, because it is no longer sustainable.
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Banking giant HSBC is moving to expand its presence in Asia through the acquisition of Korea First Bank. It has also been reported that Standard Chartered is competing with its
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Standard Chartered lost one of its most valued bankers yesterday, apparently in a row about job cuts in Hong Kong. Peter Wong, chief executive of the Greater China region, ran the Asian-focused bank&#39;s largest
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Freddie Mac (FRE.N: Quote, Profile, Research) , the No. 2 US mortgage finance company, on Monday said it will restructure its securities and sales trading group as part of an effort to streamline its business operations.
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FRANKFURT : Deutsche Bank announced plans to reshuffle its management in order to meet its profit target for next year. Germany&#39;s leading bank, which is often accused of neglecting its domestic business in