All Posts Tagged With: "HBC"

(HBC) HSBC Holdings to Eliminate 14,000 Jobs

In an effort to improve overall efficiency, HSBC Holdings plc (HBC) announced a second round of cost saving initiatives. The new cost saving program will start from 2014 and run for 3 years. HSBC plans to slash $3 billion in...

14Jun2013 | | Comments Off | Continued

(UBS) Foreign Banks Stock Outlook – February 2013 – Zacks Analyst Interviews

In order to plan the path to future growth, banks all over the world are seeking new strategies to lessen the regulatory burden. Almost every bank has its focus on capital efficiency. And most of the foreign banks are adopting reconstruction-by-asset-sale strategies to strengthen their capital ratios. Self-protective...

28Feb2013 | | Comments Off | Continued

(HBC) HSBC Holdings’ China Deal in Trouble

HSBC Holdings plc’s (HBC) divestiture of its entire stake (15.6%) in Chinese insurance giant Ping An Insurance (Group) Company of China, Ltd to Thailand-based Charoen Pokphand Group has come to an unexpected halt after China Development...

15Jan2013 | | Comments Off | Continued

(C) Banks Continue Battling Legal Issues

Last week, DZ Bank AG, a German lender, filed a lawsuit against Citigroup Inc. (C) and The Royal Bank of Scotland Group plc (RBS), for misrepresentation of documents...

2Jan2013 | | Comments Off | Continued

(HDB) HDFC Bank Analyst Maintains Neutral on Shares

We are have maintained our long-term ‘Neutral’ recommendation on HDFC Bank Ltd. (HDB). The decision is based on the company’s impressive fiscal second-quarter (September 30) results. However, continuously rising operating expenses...

2Jan2013 | | Comments Off | Continued

(JPM) JPMorgan Chase Sees No End to Legal Woes

JPMorgan Chase & Co. (JPM) continues to be in sticky waters as litigation issues arising from the sale of mortgage backed securities (MBS) by Bear Stearns & Co. – acquired in 2008 – seem to be never ending. Now, the U.S....

18Dec2012 | | Comments Off | Continued

(BAC) Bank of America in New Legal Tussle

Last week, DZ Bank AG, a German lender, filed a lawsuit against Bank of America Corporation (BAC), for misrepresentation of documents while selling mortgage-backed securities (MBS). The lodged complaint indicts BofA of presenting modified...

17Dec2012 | | Comments Off | Continued

(MS) Morgan Stanley in New Legal Tussle

Last week, German lender DZ Bank AG filed a lawsuit against Morgan Stanley (MS), for misrepresentation of documents while selling mortgage-backed securities (MBS). The complaint indicts Morgan Stanley of presenting modified documents...

3Dec2012 | | Comments Off | Continued

(BCS) Foreign Banks Stock Outlook – November 2012 – Zacks Analyst Interviews

Just as banks worldwide are focusing more on capital efficiency, most foreign banks have been adopting reconstruction-by-asset-sale strategies to strengthen their capital ratios and lower leverage. Self-protective efforts have been significantly helping these banks to stay afloat, but at the cost...

3Nov2012 | | Comments Off | Continued

(HBC) Fitch Affirms Ratings of 12 Global Trading and Universal Banks

Providing great relief to the financial sector, Fitch Ratings has reiterated the long and short term Issuer Default Rating (IDR) of 12 Global Trading and Universal Bank (GTUB) peer group (formed last October and includes 13 major securities trading and universal banks). Only the review of HSBC...

18Oct2012 | | Comments Off | Continued

(HBC) New Quarter to Start on a Positive

The market may start the first trading session of the final quarter of the year on a positive note today. But sustaining the favorable open would depend on how the manufacturing ISM survey for September pans out. This key gauge of the nation’s manufacturing sector has been in contraction...

9Oct2012 | | Comments Off | Continued

(RBS) Royal Bank of Scotland Group Prices Direct Line Offering

In an effort to attract investors, The Royal Bank of Scotland Group plc (RBS) has priced the initial public offering (IPO) of its insurance wing – Direct Line Group – at a discount. The shares are priced in the range of £1.60...

9Oct2012 | | Comments Off | Continued

(DB) Fresh Claims Against Deutsche Bank

Troubles emanating from mortgage backed securities are far from over for Deutsche Bank AG (DB). A trustee for mortgage-bond investors has charged one of the units of Deutsche Bank for over $183 million in faulty loans underlying the...

9Oct2012 | | Comments Off | Continued

(BAC) Bank of America to Speed Up Layoffs

According to The Wall Street Journal, Bank of America Corporation (BAC) is planning to layoff nearly 16,000 jobs by the end of the current year as a part of its cost-cutting efforts in order to boost top-line growth. The estimated...

9Oct2012 | | Comments Off | Continued

(JPM) Fresh Trouble at JPMorgan

JPMorgan Chase & Co. (JPM) is the latest bank to be probed for its alleged involvement in money laundering transactions pertaining to drug cartels, especially in Venezuela and several other economically restricted nations. The...

8Oct2012 | | Comments Off | Continued

(NMR) Nomura Holdings to Cut Jobs

According to Reuters, Japan’s largest brokerage house — Nomura Holdings Inc. (NMR) — is moving ahead with the implementation of its cost-cutting strategies. The company plans to let go hundreds of employees, particularly...

17Sep2012 | | Comments Off | Continued

(UBS) UBS AG Sued Over Sale of Risky MBS

UBS AG (UBS) seems to be in sticky waters yet again with litigation issues arising from the sale of mortgage backed securities (MBS). This time, the U.S. regulator for credit unions has sued UBS for misrepresentation of documents while...

8Sep2012 | | Comments Off | Continued

(RBS) The Royal Bank of Scotland Group Probed Over Iranian Dealings

The Royal Bank of Scotland Group plc (RBS) is the latest bank to be investigated by U.S. regulators over possible violations of restrictions imposed on Iran. The Federal Reserve and Department of Justice are the agencies involved. According...

30Aug2012 | | Comments Off | Continued

(HBC) Standard & Poor’s Ratings Services Lowers HSBC’s Rating Outlook

On Thursday, Standard & Poor’s Ratings Services (S&P) downgraded its outlook on HSBC Holdings plc (HBC) and its other rated holding companies to ‘Negative’ from ‘Stable’. The downward revision was propelled...

26Aug2012 | | Comments Off | Continued

(GS) FDIC Sues Banks over Risky MBS

The Federal Deposit Insurance Corp. (FDIC) has filed three separate lawsuits against major banks over the alleged sale of $5.4 billion worth of risky mortgage-backed securities (MBS) to the failed Guaranty Bank. The FDIC, in aggregate, is seeking more than $2.14 billion in damages from various units...

22Aug2012 | | Comments Off | Continued

(C) LIBOR Rate Manipulation: What it Means for Investors

In case you’re not up on your major British multinational banking and financial services conglomerates, Barclays is headquartered in London and was founded in the late seventeenth century. It has operations in over 50 countries and territories spanning across five continents. We’re talking...

21Aug2012 | | 0 comments | Continued

(JPM) JPMorgan Chase & Company Gets Nod for $100 Million Settlement

Last week, a federal Judge provided preliminary approval to JPMorgan Chase & Co’s. (JPM) $100 million settlement pertaining to a class-action lawsuit filed by upset credit card holders over violations of credit card terms. The...

14Aug2012 | | Comments Off | Continued

(BBT) FDIC Files Lawsuit Related to Mortgage-Backed Securities

The Federal Deposit Insurance Corp. (FDIC) has filed a lawsuit against major banks over the alleged sale of $388 million of risky mortgage-backed securities (MBS) to the failed Colonial Bank. Apart from attorney fees and court expenses, the FDIC is seeking $189 million in damages. Colonial...

14Aug2012 | | Comments Off | Continued

(HBC) The Moody’s Downgrade: Hurt Some Banks – Helps Others

What’s the premise behind this whole downgrading business? “Hindsight is 20/20.” “Fool me once, shame on you. Fool me twice, shame on me.” We’ve all heard these adages before – and so has Moody’s. Let’s go back to the mid-2000s… There...

9Aug2012 | | 0 comments | Continued

(JPM) JPMorgan Chase & Company Settles $100M Credit Card Suit

On Tuesday, JPMorgan Chase & Co. (JPM) agreed to settle a credit card lawsuit by paying $100 million in damages. This class-action lawsuit was filed by the cardholders, irked by the company’s decision to increase minimum monthly...

29Jul2012 | | Comments Off | Continued

(BAC) Bank of America Reduces Commercial Banking Jobs

In an effort to boost Global Banking segment’s profits, Bank of America Corporation (BAC) has been reducing workforce, according to a Reuters report. This action, which is a part of its Project New BAC Phase 2, should alleviate...

12Jul2012 | | Comments Off | Continued

(BCS) Foreign Banks Stock Outlook – July 2012 – Industry Outlook

Foreign banks have been adopting reconstruction-by-asset-sale as the means to reduce leverage and stay afloat. However, the industry remains thwarted by non-stop challenges that are keeping its performance under pressure. The latest deterrents, nagging macroeconomic issues — the European...

11Jul2012 | | Comments Off | Continued

(CS) Moody’s Investor Services Downgrades Major Banks

Moody’s Investor Services has finally announced the much-anticipated credit ratings revisions for major global banks, dealing a blow to the already stressed financial industry. This comes in the wake of weak global markets and the seemingly endless Eurozone crisis. Of the 17 major international...

24Jun2012 | | Comments Off | Continued

(HBC) Capital One Financial Outlook Reiterated by Fitch

Following the successful completion of the acquisition of HSBC Holdings Plc’s (HBC) U.S. credit card operations, Fitch Ratings affirmed all the ratings for Capital One Financial Corp. (COF)....

24May2012 | | Comments Off | Continued

(PMI) U.S. Jobless Data Shows Decoupling

This morning’s economic data is giving investors the clearest possible evidence of divergence in global economic growth outlook, with the U.S. economy decoupling from Europe and China. We have another better-than-expected read on Initial Jobless Claims in the U.S., while readings of the manufacturing...

9Apr2012 | | Comments Off | Continued