It seems like the Irish are not the only HSBC employees losing jobs. HSBC’s Livingston call center is closing. The bank said that although the staff would hopefully be absorbed within the company’s Scottish workforce it is no longer cost effective to keep the West Lothian location open. HSBC admitted that some […]
Spelling lessons for everyone I say. An HSBC employee thought it prudent to comment on the misspelled words in our complaints blog. Needless to say we have many more emails now, since I published the suggestion. What the employee failed to consider are the reports we receive from HSBC employees and former […]
Earlier today we reported on stronger rules in the GCC. Now it is India taking new initiatives. Proposals by Indian regulators in October to curb offshore investment vehicles used by hedge funds triggered a panic among investors that halted trading on Mumbai exchanges for an hour and wiped out $100 billion of value […]
China and India have been growing at steady paces, but some have pointed to a possible bubble. Already, China has shown its weakness as pretax profit for HSBC in China fell 41% to $907 million. Meanwhile, shares in Korea Exchange Bank, HSBC’s newest target, have fallen as much as 12%. For now, HSBC remains devoted […]
A customer in India (Madhya Pradesh) thinks HSBC has hidden international currency conversion charges. The customer claims he cannot get a straight answer. Here is his report so you can decide for yourself:
“I purchased an item using my HSBC credit card in US dollars on the Internet. The seller turned out to be […]
In addition to recent articles about HSBC in Vietnam and India, we must add Korea to the list, since HSBC wants a stake in KEB. HSBC said they want to concentrate on emerging markets, but there is volitility in emerging markets. What is clear is that global banks can participate in bad tactics […]
This week HSBC will focus on India. It seems as if HSBC is all over the map with ideas. One fact that is perfectly clear is that HSBC is unhappy with U.S. mortgage lending. What makes the report about India so interesting is that last week HSBC discovered that people were […]
The activist shareholder group Knight Vinke today accelerated its attack on the management of HSBC with a fresh call to “grasp the nettle” and tear up its existing strategy. Clearly HSBC’s strategy in the United States is not working. Junk mortgages is Wall Street’s fancy name for junk home loans. There are so […]
If you mailed your payment to HSBC on the 7th, as an example - and it was not credited until the 18th of the month, while you received a late fee, overlimit fee, and a pay-by-phone fee, 12 phone calls from India and a slap in the face, you may have recourse. This is […]
HSBC, which derived about 80 percent of its pretax profit from outside the U.K. in the first half of this year, moved to London 13 years ago following its purchase of Midland Bank Plc, one of Britain’s top four banks at the time. The Bank of England ruled that HSBC would only be allowed to […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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