The nation’s financial regulator reaffirmed Tuesday that it will not approve the sale of the Korea Exchange Bank (KEB) until a court rules as to whether the bank was sold at an unfairly low price to U.S. investment fund Lone Star. Asked whether the Financial Supervisory Service (FSS) will approve the sale, FSS Deputy Governor Kim Dae-pyung said that the FSS position about the KEB sale is that “even HSBC is not an exception.”
Popularity: 4% [?]
Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending – an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has little or no security interest when a home goes to foreclosure.
Popularity: 8% [?]
Forget old-fashioned occupations and sit-ins: student protest has gone “viral”. Online networking phenomenon Facebook has emerged as the venue for a rapidly proliferating campaign that has already brought in thousands of recent graduates. It’s called “Stop the Great HSBC Graduate Rip-Off!”
Popularity: 4% [?]
Dubai’s effort to break up the agreed takeover of Swedish stock exchange operator OMX Group (OMX.ST) by NASDAQ (NDAQ) suffered a severe blow Aug. 23. Sweden’s Financial Supervisory Authority ruled that Borse Dubai, a government-owned holding company, “breached the law” when it issued a press release Aug. 9 announcing that it was in the process of buying OMX shares.
Popularity: 5% [?]
South Korean tax officials have again raided Lone Star’s offices in Seoul, seizing documents relating to the US private equity fund’s recent asset sales worth $2.3bn.
Popularity: 4% [?]
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