Search Results for: HSBC
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 ...
UK hands fraud agency all funds needed for forex probe
November 14th, 2014
Britain’s finance ministry will hand the country’s anti-fraud agency all the funds it needs to conduct a criminal investigation into alleged rigging of the $5.3 trillion-a-day currency market, a Treasury source said. Finance minister George Osborne has written to ...
China to Waive Capital-Gains Tax for Foreigners on Link
November 14th, 2014
China will waive capital-gains taxes for foreign stock investors using the Shanghai-Hong Kong (HSCEI) bourse link, clarifying its rules three days before the program’s debut provides unprecedented access to mainland shares. Chinese individuals who buy Hong Kong equities through the link get a ...
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 ...
Forex traders plotted strategy in secret chats
November 13th, 2014
Traders of major banks fined $4.3 billion Wednesday for attempted manipulation of foreign exchange markets used electronic chat rooms to plot their moves. Transcript excerpts of conversations released Wednesday by the Commodity Futures Trading Commission show traders from U.S. banks Citibank(C) ...
Fed investigating bank conduct in forex markets
November 13th, 2014
The U.S. Federal Reserve is investigating possible improper conduct in foreign exchange markets by large banking institutions, a spokesman said on Wednesday. “The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities, including the Department of ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
Regulators fine global banks $3.4 billion in forex probe
November 12th, 2014
Global regulators imposed penalties totaling $3.4 billion on five major banks, including UBS (UBSN.VX), HSBC (HSBA.L) and Citigroup (C.N) on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland (RBS.L) and JP ...
Suit Accuses Banks of Role in Financing Terror Attacks
November 11th, 2014
The suit accuses banks — including HSBC and Barclays — of helping to finance the violent activities through their ties to Iran, painting Wall Street as a sort of middleman of terror. Those acts of terrorism occurred a world away ...
