Household HSBC Watch

HSBC is hoping to do what no non-Chinese bank has done before: raise its stake in China’s Bank of Communications above the 20.0 percent permitted by regulations. According to Forbes, on Monday BoCom Chairman Jiang Chaoliang told reporters that the banks had agreed it would have to raise its stake to as much as […]

HSBC Holdings Plc’s Canadian unit became the first financial adviser in the country to be sued over investments in asset-backed commercial paper that were frozen following the U.S. subprime mortgage industry collapse.

Aastra Technologies Ltd., which makes telecommunications equipment, filed the suit today in Ontario Superior Court, alleging HSBC and adviser Nicolas Del Sorbo gave […]

HSBC (Hong Kong Shanghai Bank Corp) has been dealt a major blow to its expansion plans in China. Its main domestic partner, Chinese lender Bank of Communications, has been reclassified as a large state-owned bank, which protects it from a foreign takeover.

Three years ago, HSBC paid $1.75 billion for a nearly 20% stake in […]

China’s fifth largest bank has admitted being defrauded of roughly 200 million yuan (US$25 million). The Bank of Communications (BoCom) in which Europe’s biggest lender HSBC holds shares reported the fraud in one of its branches in Northeast China.

In a news release posted on its website on Saturday, the bank said the fraud, involving […]

AT&T Corp. said Thursday it will unleash the biggest ad campaign in the company’s 120-year history to strengthen its famous brand name. The old Ma Bell was recently acquired by SBC Communications Inc. in a $16 billion deal. SBC, itself once part of the old AT&T, then took on the AT&T name. The […]

A look at some of the high-profile corporate scandals of recent years and the status of legal action in each.

QWEST COMMUNICATIONS INTERNATIONAL INC. _ Former Qwest CEO Joseph Nacchio is indicted Tuesday on 42 counts of insider trading accusing him of illegally selling off $101 million in stock. In July, Robin Szeliga, former CFO, pleaded […]

SAN ANTONIO–(CCNMatthews - Nov 18, 2005) -
Today marks the birth of AT&T Inc. and of a new standard-bearer in communications, entertainment and service for the 21st century. SBC Communications Inc. (NYSE:SBC) closed its acquisition of AT&T Corp. today as California regulators approved the transaction — the final approval needed for the merger of […]

In a press release that shows HSBC learned well from Shea v Household and continuing questions about HSBC Finance Corporation credit card payments, we find that HSBC can still be “Hong Kong Shanghai” if they want to, but not in the United States:

BEIJING, Nov. 10 (Xinhuanet) — HSBC Holdings Plc., Europe’s largest bank by […]

NYSE Chairman Marshall Carter, along with the rest of the NYSE board, its Chief Executive John Thain and several Goldman Sachs (nyse: GS - news - people ) bankers are slated to testify regarding the New York Stock Exchange merger and its restructuring.

Carter said in an Oct. 12 deposition that Citibank contacted the NYSE on […]

BEIJING - HSBC Holdings Plc., Europe’s largest bank by market value, said it expects to issue one million dual-currency credit cards by July with partner Bank of Communications Ltd., outpacing rival Citigroup Inc. in the world’s fastest-growing consumer market. “We are on track to meet our target,” Ron Logan, head of the credit […]