HSBC

HSBC caught in the crossfire of Trump’s trade war

TOKYO – Of all the things HSBC Chief Executive Officer Noel Quinn thought 2020 might hold for his bank, becoming a key proxy in the US-China trade war probably wasn’t among them. Covid-19 was disruptive enough for Europe’s biggest bank. As Quinn warned in August,…

Trump’s tick is louder than his tock

Art imitates life, but the ongoing tussle over TikTok’s ownership has begun to resemble the goofy sketches that made TikTok the most downloaded app in history. A compromise solution reportedly crafted by US Treasury Secretary Steven Mnuchin proposes cross-ownership so complicated that it’s impossible to…

UK in a tailspin as it glimpses long gone glories

Spitfires and Hurricanes soared over London on Sunday in a reminder of heroic days 80 years ago, when an embattled United Kingdom stood as Europe’s last bulwark against Nazism. The now-iconic World War II fighters handed Hitler his first strategic defeat. Success in the Battle…

HSBC, StanChart Shares Fall to 22-year Lows on Reports of Illicit Money Flows

HONG KONG/LONDON—HSBC’s shares in Hong Kong and Standard Chartered’s in London fell on Monday to their lowest since at least 1998 after media reports that they and other banks, including Barclays and Deutsche Bank, moved large sums of allegedly illicit funds over nearly two decades…

HSBC shares hit a 25-year low on China threat

Shares in banking giant HSBC plunged to a 25-year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been accused of allowing fraudulent activity to go unpunished. The troubled…

Hong Kong bitcoiners take on the banks

Proponents of bitcoin in Hong Kong are openly challenging the established financial order by running an advertising campaign to persuade the territory’s residents to swap their bank accounts for hardware wallets. The Bank of China HK, HSBC and Standard Chartered HK now have prominent bitcoin…

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