We said for months that the UK is a bellweather for the United States. That is why this piece of logic is disturbing. UK consumer confidence stabilized this month after falling to a 12-year low during the crucial Christmas shopping period in December, figures showed today. Karen Ward, economist at HSBC, said the Bank’s monetary policy committee had until recently not paid much attention to consumer confidence. Really?

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This report was submitted by a Connecticut resident. The submitter is responsible for the accuracy of this report, and personal opinions are his:

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The Asian Banker is reporting that HSBC will offer two mortgage products as part of its new HSBC Premier service that will be launched in Japan on 31 January 2008. HSBC Smart Mortgage and HSBC Smart Investment Mortgage, available to all HSBC Premier customers, come with no maximum lending limit. There is a footnote at the bottom of HSBC’s self-serving “press release” - which looks more like an advertisement to me. The footnote says “The mortgage loans are subject to HSBC’s credit review and are available for up to 90% of the value of the mortgaged property as appraised by HSBC.”

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Shifting political sands in America and Europe, especially after the 9-11 terror attacks and concerns of a probable slowdown in developed economies are encouraging Islamic investors to turn their focus into growth economies like India and China. Saudi Economic and Development Company (Sedco) and Bearys Group have come together to invest $20 million for the Bearys Global Research Triangle in Bangalore. HSBC Amanah will invest $50 million in Srei Projects while Gulf Finance House will invest $10,000 million for the Indian Economic Zone in Mumbai.

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Orlando, Fla.-based CNL Financial Group has purchased Two Harbour Place, a 12-story office tower in Tampa, for $32.25 million from HSBC, a global banking company. Jeff Morris, Jubeen Vaghefi, Steve Echelson and Doug Bartley of Jones Lang LaSalle brokered the transaction.

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