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HSBC Holdings PLC (HSBC)

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  • Mar. 5, 2013, 9:03 AM
    Newcastle Investment (NCT) jumps 3.1% after inking a deal to acquire up to 50% of a $4.2B UPB portfolio of consumer loans - home and unsecured personal - from HSBC (HBC). Newcastle will team with another Fortress (FIG) affiliate - Springleaf Financial, which will have responsibility for servicing the loans. The total purchase price comes to $3.2B. (PR)
  • Mar. 4, 2013, 3:37 AM
    More on HSBC (HBC) 2012: EPS -20% to $0.74. Notable items include $1.9B of fines for compliance breaches and $1.4B for mis-selling of financial products in U.K. Return on equity 8.4% vs 10.9% in 2011. Revenue breakdown: Global Banking & Markets +10% to $18.2B, Commercial Banking +8% to $15.9B; Retail Banking & Wealth Management +6% to US$27.7B. Over half of underlying revenue came from faster-growing regions. (PR)
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  • Mar. 4, 2013, 3:28 AM
    HSBC (HBC): 2012 pretax profit -6% to $20.6B vs consensus of $22.7B, and includes $5.2B of adverse fair value movements on own debt. Underlying pretax profit +18% to $16.4B. Core tier 1 capital ratio 12.3% vs 10.1% in December 2011. Underlying revenues +7% to $63.5B. Raises 2012 dividend by 10% to $0.45/share, including $0.18 for Q4, for a total payout of $8.3B. First three dividends of 2013 will be $0.10. (PR)
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  • Feb. 19, 2013, 11:48 AM
    HSBC's (HBC) Latin American unit agrees to sell HSBC Panama to Bancolombia for $2.1B in cash. The move furthers HSBC's goal of concentrating its Latin American business on the core markets of Brazil, Mexico, and Argentina. (PR)
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  • Feb. 1, 2013, 6:09 AM
    The China Insurance Regulatory Commission has approved HSBC's (HBC) sale of its remaining 15.7% stake in Ping An Insurance to Thailand's Charoen Pokphand for $7.5B. There had been reports that the agency would block the deal due to concerns about how Charoen Pokphand would fund it. HSBC will now be able to book a $2.6B post-tax gain. (previous)
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  • Jan. 31, 2013, 5:33 AM
    Barclays (BCS), HSBC (HBC), Lloyds (LYG) and RBS (RBS) may have to pay small-business customers hundreds of millions of pounds in compensation over the mis-selling of products that were supposed to lower their clients' interest-rate risks. The FSA has ordered the banks to review the sales after the U.K. regulator found that banks breached rules in over 90% of 173 deals that it looked at. Barclays has already provisioned £450M for the purpose.
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  • Jan. 30, 2013, 11:58 AM
    HSBC's (HBC) agreement to sell the rest of its stake Ping An Insurance to Thailand's Charoen Pokphand for $7.4B expires tomorrow if a Chinese regulator does not sign off, or if the parties don't agree to an extension. With HSBC planning to book a $2.6B profit on the deal, the "odds are high" the agreement will be extended.
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  • Jan. 18, 2013, 3:04 PM
    HSBC (HBC) settles foreclosure-abuse charges with the Fed and the OCC, agreeing to pay $249M to certain mortgage holders. This settlement follows recent deals (I, II) cut by numerous other household names in the banking industry.
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  • Jan. 10, 2013, 11:33 AM
    HSBC (HBC +1.1%) knows of no information relating to its proposed sale of Ping An that "must be announced to avoid a false market" in its stock, and the Dec. 5 report - the announcement of its sale of a $9.4B stake in the insurer - "remains accurate." Recent stories have suggested Chinese regulators are set to block the sale.
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  • Jan. 9, 2013, 7:09 AM
    Chinese regulators are reportedly set to reject HSBC's (HBC) deal to sell a 15.7% stake in Ping An Insurance for $9.39B because the funding for the sale isn't yet in place. The sale would have allowed HSBC to book a massive gain on the insurer ahead of tougher capital rules.
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  • Jan. 9, 2013, 4:32 AM
    Goldman Sachs (GS), Morgan Stanley (MS), HSBC (HBC) and Ally Financial could reportedly reach a $1.5B deal with regulators this week to settle allegations of foreclosure abuse, and end a costly and ineffective review of individual repossessions. The agreement would be similar to the $8.5B+ deal that ten other banks reached earlier this week.
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  • Jan. 8, 2013, 5:38 AM
    HSBC's (HBC -0.8%) sale of its 15.6% stake in China's Ping An Insurance to Thailand's Charoen Pokphand for $9.4B is reportedly in doubt after China Development Bank changed its mind about providing a large part of the funding for the deal. HSBC had expected to book a profit of $3B on the transaction.
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  • Jan. 7, 2013, 4:04 AM
    Credit Agricole (CRARF.PK) leads major European banks higher, rising 4.7% after regulators ease Basel liquidity rules, followed by Deutsche Bank (DB) +4.3%, Unicredit (UNCFY.OB) +4.3% and Barclays (BCS) +3.7%. Also, SocGen (SCGLF.PK) +3.4%, HSBC (HBC) +0.75%, Lloyds (LYG) +1.9%, Santander (SAN) +2%, RBS (RBS) +1.5%, UBS (UBS) +2% and Credit Suisse (CS) +3.4%. Italy's Banca Monte dei Paschi di Siena (BMDPY.PK) +15%.
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  • Jan. 3, 2013, 5:36 AM
    British banks intend to increase loans to companies and consumers after having already provided more mortgages in Q4, a Bank of England survey has found. The government will no doubt be happy given that banks cited its funding-for-lending scheme, which offers banks cheap loans for re-lending to businesses and individuals, as a major factor in the increased availability of credit.
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  • Jan. 1, 2013, 9:15 AM
    The indictment of several Colombian men in January 2010 on money-laundering charges in a Brooklyn federal court attracted little attention, but it was a vital lead for authorities in their efforts to crack down on HSBC (HBC) for its lax compliance policies in an investigation that led to a $1.9B settlement last month. Reuters has the inside scoop.
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  • Dec. 19, 2012, 7:10 AM
    Following a 5-month 43% move higher in the EUFN, the European financial sector is upgraded to Neutral from Sell at Credit Suisse. Earlier this week, Meredith Whitney turned bull on the U.S. financial sector after its torrid 2012 run.
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Company Description
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.