HSBC Holdings plc Sponsored ADR (HSBC)
HSBC users locked out of online banking on payday
HSBC Holdings PLC (LSE:HSBA) users were left unable to access their bank accounts on payday this morning after the lender suffered an outage on its mobile banking app. Some 7,000 reports of outages were made on Downdetector, leading to HSBC issuing a statement, apologising for the issue, promising to have it back up and running soon.
HSBC, Barclays and NatWest all cut mortgage rates
HSBC Holdings PLC (LSE:HSBA) has followed rivals Barclays and NatWest and started to cut its mortgage rates ahead of what is expected a run of base rate reductions to the end of the year and into 2025. NatWest announced reductions to its rates on Friday with Barclays cutting some rates today and now HSBC has said it will lower its rates from tomorrow, though there are no details yet.
HSBC to Streamline Operations in Germany Amid Asia Expansion
HSBC is considering restructuring its Germany-based business through the sale of fund administration unit INKA and custody business as well as wealth management operations.
ABN Amro nears deal to buy HSBC's German private bank, Boersenzeitung says
Dutch bank ABN Amro is seeking to further expand in Germany as it is nearing a deal to acquire HSBC's wealth management unit in the country, newspaper Boersenzeitung reported on Friday, without specifying its sources.
Bidders line up for HSBC's German fund administration and custody units, sources say
State Street , BNP Paribas and Caceis are lining up as potential bidders for the sale of HSBC Germany's fund administration unit INKA and custody business, three sources familiar with the matter told Reuters.
HSBC's Restructuring Efforts & High Rates Aid Amid Cost Woes
HSBC remains well-poised for growth on strategic business restructuring efforts, high rates, and an integrated global network. However, a rising expense base and a tough operating backdrop are concerns.
HSBC names Goldman Sachs veteran as global head of institutional client group
HSBC said on Thursday it had appointed Goldman Sachs veteran Danielle Johnson as the global head of its institutional client group within the global banking and markets business, effective June 3.
HSBC's Swiss Branch Violates Money Laundering Regulations
FINMA rules that HSBC Private Bank (Suisse) violated money laundering regulations in connection with two unnamed politically exposed people.
HSBC share price analysis: buy for the 7% dividend yield
HSBC (LON: HSBA) share price has been in the spotlight this week after a Swiss regulator ruled that its private bank violated money laundering rules. It then imposed some penalties, including an order to carry out AML reviews on its high-risk clients.
Swiss Regulator Says HSBC Violated Money Laundering Regulations
Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution's banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release.
HSBC Swiss banking arm slammed for serious money laundering breach
The Swiss banking arm of HSBC "seriously violated financial market law" and has been temporarily banned from doing business with "politically exposed persons" after breaching money laundering prevention rules. The Swiss financial regulator, Finma, said HSBC Private Bank failed to carry out adequate checks concerning two "high-risk business relationships" with politically linked individuals, failing to properly check either the origins, purpose or background of the assets involved.
U.S. dollar remains unchallenged, but small changes in reserves have major impact on gold price – HSBC's Steel
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
