HSBC closes US sub-prime division
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Banking giant HSBC is to close part of its US sub-prime mortgage business, cutting 750 jobs in the process.
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The company said it will close its business in Britain that issues home loans and significantly scale back its mortgage business in the United States.
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SEOUL -- US private-equity group Lone Star Funds said yesterday it was terminating a contract to sell its controlling stake in a South Korean bank, scrapping a deal worth billions of dollars amid a high-profile probe by prosecutors.
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LONDON/HONG KONG  - Shares of HSBC Holdings   dropped more than 2 percent on Thursday after the British lender announced its bad debt charge last year would be about $1.8 billion higher than expected.
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Europe's biggest bank HSBC Holdings  has ousted the head of its North American operations, Bobby Mehta, in the wake of this month's shock profit warning from its troubled U.S. mortgage business.
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Investment bank Morgan Stanley says it has suffered a $3.7bn loss from its US sub-prime mortgage exposure.
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HSBC closes accounts held by the British National Party, three months after Barclays froze the party's accounts.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling
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Mortgage giant Freddie Mac said yesterday it will no longer buy those high-risk home mortgages that it deems to be the most vulnerable to foreclosure. The move came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates
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British bank HSBC (HSBA.L: Quote, Profile, Research) is interested in buying the $3 billion store and credit card operations of US retailer Federated Department Stores Inc.
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Lloyds TSB, the UK's fifth biggest bank, is closing its call centre in Mumbai - but more back office work is being outsourced to India
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Shares of HSBC Holdings  fell more than 2 percent in Hong Kong on Thursday, after the British lender announced a larger-than-expected 2006 bad debt charge.
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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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LONDON (Dow Jones)--HSBC Holdings PLC (HBC) has expressed an interest in the $3 billion store and credit card operations of Federated Department Stores Inc.
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Japan has ordered the commercial banking unit of Citigroup to close its Japanese private banking offices, shutting it out of the lucrative business and
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Shares of subprime lender tumble after margin calls.
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Business & money: Â· Credit crunch creates Â£210bn backlog of buyouts Â· US sub-prime crisis claims more jobs and firms