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HSBC buys failed US bank SVB’s UK arm for £1

LONDON: The UK arm of failed US lender Silicon Valley Bank has been sold to HSBC for a nominal £1 ($1.2) in a rescue...

Bank sends over 100 staff home over coronavirus case

The possibility of the coronavirus spreading across the finance industry is worrying regulators, who fear the absence of important staff could lead to liquidity problems in markets

Banking giant axes 35,000 jobs as profits slump

Pre-tax profits tumbled by a third to $13.3 billion (12.3 billion euros) in 2019 from a year earlier, largely owing to a $7.3-billion write-off related to its investment and commercial banking businesses

London City’s finance hub braces for possible Brexit

LONDON: With one month to go before Britain's vital in-out EU referendum, London's City finance district is busily planning ahead for a potential "Brexit".

Credit Suisse CEO defends bank over Panama Papers

HONG KONG: The CEO of Credit Suisse said Tuesday the bank does not endorse offshore accounts for tax avoidance or shady dealings, the latest bank to defend itself against accusations made in the Panama Papers leak.

Swiss authorities probe seven banks for price fixing in metals market

GENEVA: Swiss competition authorities said Monday they were investigating UBS, HSBC, Deutsche Bank and four other major banks for suspected price fixing in the trade of precious metals like gold and silver.

Meezan Bank signs agreement to acquire HSBC Bank Oman

KARACHI: Karachi-based Meezan Bank Ltd has signed an arrangement with the Pakistani unit of HSBC Bank Oman to acquire the latter’s banking business in Pakistan, said in a bourse filing on Friday.

Scandal-hit global bank plans thousands of job cuts: report

LONDON: Scandal-hit global bank HSBC plans to cut thousands of jobs across its global operations, broadcaster Sky News reported on Tuesday.

HSBC subsidiary announces sale of 10pc stake in Chinese bank

HONG KONG: Hang Seng Bank, a Hong Kong-based subsidiary of British banking giant HSBC, on Tuesday announced the sale of a 10 percent stake in China's Industrial Bank in a transaction that could be worth $4.74 billion.

HSBC sorry for website porn link

HONG KONG: Banking giant HSBC apologised for a website blunder on its Hong Kong page which directed unwitting visitors to a pornographic site, reports said Tuesday.

Meezan Bank studies purchase of HSBC Bank Oman's Pakistani unit

KARACHI: Karachi-based Meezan Bank Ltd has received regulatory approval to study the acquisition of the Pakistani unit of HSBC Bank Oman, the sharia-compliant lender said in a bourse filing on Friday.

World stocks inch towards all-time high

LONDON: World shares were within touching distance of an all-time high on Monday, spurred on by the combination of record low global interest rates...

Pakistan’s fight against current account deficit

Pakistan is currently fighting to contain the current account deficit, with plans underway to raise $750 million through Eurobonds. And all eyes are set on...

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