Back on the 19th of July Lehman Brothers rejected suggestions that they are exposed to subprime problems. Another notably silent voice, other than quarterly and semi-annual results, is HSBC. Analysts at Household - HSBC Watch say the silence might say more than one realizes. Are we to assume HSBC cut Lehman […]
Although many claim HSBC already knows what their quarterly results might be, publishing the information is another story. The Securities and Exchange Commission is also looking at subprime mortgages. The worry at HSBC is HSBC Finance, formerly Household International, and HSBC USA.
Rising interest rates, combined with falling home prices, have caused many subprime […]
HSBC USA thought it was a great idea to refinance or finance debt from Household International. Now called HSBC Finance Corporation, it was not a great idea after all. Since HSBC USA and HSBC Finance Corporation share the debts the not-so-rosy picture effects both, and greatly impacts HSBC overall.
Net income for the HSBC […]
Combined third-quarter profits for HSBC USA and HSBC Finance Corp. fell 15.5 percent, as a tight profit margin, lower banking fees, higher operating expenses and higher loan losses offset growth in the company’s bank branch network, commercial lending, retail mortgage and credit card divisions.
The two U.S. units of HSBC Holdings Plc reported total profit before […]
Citigroup Inc. , the largest U.S. bank, on Friday reported quarterly profit that missed analysts’ forecasts, as weaker credit card results offset investment banking growth. Much of the U.S. banking sector has suffered from narrowing margins, or the difference between borrowing and lending costs, as the Federal Reserve pushes up short-term interest rates.
HSBC credit […]
MINNETONKA, Minn. (AP) - Credit-card issuer Metris Cos., currently being bought by a unit of HSBC Holdings PLC., on Monday reported third-quarter profit fell 13 percent, on a revenue decline of 5.1 percent.
Quarterly profit fell to $53.7 million, or 39 cents per share, from $61.8 million, or 48 cents per share. Revenue declined to $184.5 […]
Thursday, August 25, 2005 — U.S. personal bankruptcy filings in federal courts surged 18 percent in the three months through June from the prior quarter, as consumers rushed to beat the deadline for a new law that makes erasing debt more difficult, the Administrative Office of the U.S. Courts said. The number […]
Thursday August 18, 11:25 am ET - PROSPECT HEIGHTS, Ill., Aug. 18 /PRNewswire/ — HSBC Finance Corporation announced today that its board of directors declared the first regular quarterly cash dividend on the company’s Series B preferred stock of $0.3621667 per depositary share payable September 15, 2005, to shareholders of record on August 31, […]
Saks credit card operations, as stated by HSBC Watch consumer advocates, is handled by disgraced predatory lender Household International, now part of HSBC Holdings. “We question whether HSBC is classified as a vendor relative to ongoing compensation” said HSBC Watch.
May 17, 2005 08:00 AM ET
CHICAGO (Reuters) - Department store owner Saks Inc (SKS) on […]
March 2, 2005
WASHINGTON (Reuters) - Costco Wholesale Corp. , the largest U.S. warehouse club, posted quarterly earnings and sales just below estimates on Wednesday, sending its stock 2.7 percent lower in premarket trading. — end of quote –
Household - HSBC Watch, a watchdog organization, said Costco managed to disappoint even though profits were up. […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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