HSBC shuts 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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Swiss bank UBS confirms a $4bn loss for 2007, after it was hit by exposure to US sub-prime home loans.
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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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Business & money: Standard & Poor's, which has faced strong criticism for its role in the US sub-prime crisis, has announced the resignation of its president.
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Business & money: Deal forced to be scrapped as the fallout from the sub-prime markets continues to spread
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The crisis in the US sub-prime mortgage market leads to losses at US consumer finance firm GMAC.
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.
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For make benefit sub-prime crisis Forget the good, old US of A. HSBC wants to bet on places like Kazakhstan for its financial future.â¦
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Business & money: Biggest share falls since height of credit crunch after US bank's $18bn write-off and Rock uncertainty grows
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HSBC Holdings Plc , Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking an $880 million writedown, because the business is no longer sustainable.
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HSBC  (0005.HK) is not  considering acquisitions in Japan and will instead focus on  growth by itself as it rolls out retail banking in the world&#39;s  second-largest economy, HSBC Chairman Stephen Green said on  Thursday.
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Ambac Financial, which insures against sub-prime losses,  abandons share sale
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The deterioration in the U.S. mortgage market forced the departures of two top executives at HSBC Holdings.
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A plan by US banks to calm down rattled credit markets is dropped shortly before it was due to launch.
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Global banking giant HSBC Holdings announced on Monday 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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Business & money: Building society damaged by the sub-prime mortgage crisis in the US and other one-off charges
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UK bookmaker William Hill says it has stopped taking casino and poker bets online from US customers.