Household HSBC Watch

Korea Pension Fund to Buy HSBC Headquarters

Volunteer — Sat, 21 Nov 2009 19:27:29 +0000

South Korea’s National Pension Service, the nation’s biggest investor, agreed to buy HSBC Holdings Plc’s London headquarters for 772.5 million pounds ($1.29 billion) as the fund boosts overseas...

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HSBC Finance Corp to Close Net Park Facility in Tampa

Volunteer — Sat, 21 Nov 2009 19:22:26 +0000

In an effort to improve efficiency in servicing operations HSBC Finance Corp. has announced plans to close its Net Park facility in Tampa in mid-2010. A quarterly filing with the Securities...

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Farmer Mac invested in HSBC Finance subprime risk

Volunteer — Wed, 11 Nov 2009 18:00:00 +0000

The Federal Agricultural Mortgage Corporation, otherwise referred to as Farmer Mac, invested corporate funds in HSBC Finance. Farmer Mac President and Chief Executive Officer Michael Gerber had to...

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HSBC Finance post pre-tax loss

Volunteer — Wed, 11 Nov 2009 12:50:18 +0000

HSBC Finance posted a pretax loss of $2.7 billion, compared with a $300 million loss a year earlier. Still, that was down from a second-quarter loss of $6.9 billion, due in part to a charge in that...

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HSBC sells auto loan servicing business to Santander

Volunteer — Wed, 11 Nov 2009 12:37:24 +0000

HSBC Finance Corp. said yesterday it is selling its U.S. auto loan servicing operations, including a facility in San Diego, to Santander Consumer USA. Illinois-based HSBC said the majority of the...

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Sukuk default and Islamic finance not perfect for HSBC

Volunteer — Mon, 09 Nov 2009 16:32:14 +0000

HSBC Holdings plc’s Saudi affiliate, booked $93.7 million in provisions for loan losses during the third quarter. “We may see some extra provisions in the fourth quarter but most banks...

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Standard Chartered Return Overtakes HSBC

Volunteer — Mon, 09 Nov 2009 16:13:27 +0000

Standard Chartered has out-paced HSBC. In 2009, total return on its shares soared 79 percent as of November 3, 2009, the second-best performance of Britain’s top five banks after Barclays Plc, and...

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HSBC eliminates 1700 UK jobs

Volunteer — Wed, 04 Nov 2009 04:01:37 +0000

HSBC is cutting 1,700 administrative jobs in U.K., more than 4 percent of its workforce in Britain. HSBC will eliminate the roles in Southampton, Sheffield and Southend, England, “over the next...

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Insight on how HFC changed Beneficial Finance

Volunteer — Mon, 26 Oct 2009 18:58:10 +0000

In our ‘Afterthoughts’ category we present a report from a former employee: “I worked for Beneficial Finance and the company was purchased by HFC (Household International). I know...

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Aldinger leaves trail of failures with Capmark Financial bankruptcy

Volunteer — Mon, 26 Oct 2009 14:11:35 +0000

2006 - 2008 — William F. Aldinger, 61, retired as President, Chief Executive Officer and Chairman of the Board of Directors of Capmark Financial Group Inc., a commercial real estate finance...

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