Search Results for: HSBC Holdings Plc
G-20 Plans $2 Trillion Growth Boost to Uneven Global Economy
November 17th, 2014
Group of 20 leaders agreed to take measures that would boost their economies by a collective $2 trillion by 2018 as they battle patchy growth and the threat of a European recession. Citing risks from financial markets and geopolitical ...
Sydney Yuan Hub Seen Saving Importers 7% in Trading: Currencies
November 17th, 2014
Australian importers are in line for a windfall as speculation grows that Chinese President Xi Jinping will use his visit to the country this week to anoint Sydney as a yuan trading center. The ability to exchange Australian dollars ...
U.S. stocks slip from records; oil falls
November 13th, 2014
U.S. equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of $4.3 billion for currency rigging, while the oil market sagged on concerns about a ...
Banks Said Poised to Settle With CFTC in FX-Rigging Cases
November 11th, 2014
Banks suspected of rigging the $5.3 trillion-a-day currency market are preparing to reach settlements as early as this week with the main U.S. derivatives regulator, according to a person with knowledge of the cases. The Commodity Futures Trading Commission may levy ...
Singapore Returns Up to $9 Billion to Banks in Rate Probe
November 7th, 2014
Singapore’s central bank gave back as much as S$12 billion ($9.3 billion) that it took from 19 lenders last year as a penalty for trying to manipulate benchmark interest rates. The banks have taken steps to prevent a recurrence ...
BofA triples third-quarter loss due to forex legal expense
November 7th, 2014
Bank of America Corp (BAC.N) tripled its third-quarter loss to $232 million, in a revision that added legal costs related to global investigations into foreign exchange trading at major banks. Regulators are investigating allegations that dealers colluded and manipulated key ...
Sterling Lads Chats Show FX Traders Matching Fix Orders
October 30th, 2014
“Any fix quid?” a currency trader at Barclays Plc asked a counterpart at HSBC Holdings Plc at 2:25 p.m. on June 23, 2011. “Get 50 cable on fix,” he said as he tried to sell British pounds. “Nothing as ...
Barclays Third-Quarter Profit jumps, sets aside FX probe
October 30th, 2014
Barclays Plc (BARC), the U.K.’s second biggest bank by assets, said third-quarter profit unexpectedly rose in the third quarter as the bank set aside 500 million pounds ($799 million) to settle probes into currency markets. Adjusted pretax profit rose ...
China Factory Gauge Rises as Workers Weather Slowdown
October 23rd, 2014
A Chinese manufacturing gauge rose in October, adding to signs a resilient labor market and export demand are helping the world’s second-largest economy weather a housing market downturn. The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit ...
China Manufacturing Rebounds
September 23rd, 2014
A Chinese manufacturing gauge unexpectedly increased this month, suggesting export demand is helping the economy withstand a property slump. The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics was at 50.5, matching the highest estimates in ...
