Saudi Arabia’s indebted family conglomerate Algosaibi sued Maan al-Sanea, the billionaire head of the Saad Group, for fraud in a case involving allegations of $10 billion in loan irregularities, according to court documents.
Archive for » July, 2009 «
HSBC Holdings Plc and a Cayman Islands-based hedge fund were sued by the trustee liquidating Bernard Madoff’s business over claims they withdrew $578 million in “fake” profit from the con man’s firm before it collapsed.
Category: General News
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When HSBC North American operations, which includes HSBC Finance (Household International), doesn’t perform very well, you can still get promoted.
Category: Jobs and Layoffs
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In the “Reap what you sow” category, financial protection in the UK is not a rosy picture. Chancellor of the Exchequer Alistair Darling today will set out measures to tighten regulation of the British banking industry, requiring institutions to plan for their own demise, a person familiar with the plan said.
Category: General News
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HSBC so eloquently said “”The Rights Issue enhanced HSBC’s signature financial strength and this, together with the start made to 2009, means we are well-positioned to ride out the economic uncertainty ahead, and to take advantage of opportunities to grow.”
Category: General News
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