I’ll support HSBC on this one. Leading law firms representing HSBC and Hermitage Capital Management have been raided by Russian Interior Ministry officials in an attempt to link senior lawyers with an alleged tax fraud. This problem in Russia smacks of crooked investigators and problems in the Russian system. People are hesitant […]
A total of $5 trillion of mortgage loans, or almost half of the nation’s home loans, belong to “risky asset categories’’ such as subprime and Alt-A, Gross of Pacific Investment Management Co. said Bill Gross, who manages the world’s biggest bond fund. A commentary is posted on the firm’s Web site today. HSBC and […]
Other banks and investment banks looked for foreign capital and losses continued. In some cases it was a further erosion of American companies. HSBC plc is the same, although as a global bank it is easier to disguise. HSBC needs money. HSBC Holdings has met with China Investment Corp (CIC), China’s […]
NAACP members are raising awareness about lending discrimination at 17 lending institutions. HSBC released the following statement regarding the NAACP to Eyewitness News: “HSBC Finance Corporation does not comment on litigation. However, at HSBC Finance Corporation, we take our fair lending and consumer protection practices very seriously, and we are confident that we […]
How are HSBC and high gasoline prices related? Prices are driven by speculators. We “are experiencing demand shock from a new category of speculators: institutional investors like corporate and government pension funds, university endowments, and sovereign wealth funds,” said Michael Masters, managing member of Masters Capital Management, a Virgin Islands-based hedge fund. “Index […]
How are HSBC and high gasoline prices related? Prices are driven by speculators. We “are experiencing demand shock from a new category of speculators: institutional investors like corporate and government pension funds, university endowments, and sovereign wealth funds,” said Michael Masters, managing member of Masters Capital Management, a Virgin Islands-based hedge fund. “Index […]
HSBC is pioneering an offshore legal function to service its UK volume legal queries, in a move that threatens to make corporate counsel the latest back-office commodity to be relocated to Asia. Now not only can customer service calls be answered in India, Malaysia or the Philippines, but legal queries might be off-shored. […]
Paul Hand, global banking co-head at HSBC Holdings Plc, will leave after 21 years with Europe’s biggest bank, following a flurry of senior departures in Asia and Europe, an internal memo given to Bloomberg News showed. Hand will leave at the end of the year to pursue interests outside banking, according to the […]
The Cerberus private equity group recently bought Chrysler. Cerberus already owned 51 percent of GMAC. Chrysler Financial is the only part of Chrysler that makes money. The handwriting is on the wall for Cerberus to strip and flip Chrysler, keeping the profitable finance portion. HSBC Finance Corporation may look attractive to […]
Cerberus Capital Management LP is one of the largest private equity investment firms in USA. Cerberus Capital Management LP bought 80-percent of Chrysler Group for 7.4-billion dollars. The deal unwinds a 1998 merger. DaimlerChrysler will change its name to Daimler AG. Chrysler will become Chrysler Holding LLC. Under the deal, Daimler will […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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