Stuart Gulliver: I am the right person to run HSBC March 9, 2015 HSBC boss Stuart Gulliver said he was the "right person" to run the embattled bank today, as he was quizzed by MPs on the Public Accounts Committee. Asked whether he should remain chief executive of the bank, he said: "I am committed to finishing what I began five years ago in a firm I've served [...]
Argentina turns up the heat on HSBC with demand for £2.3bn of offshore cash March 9, 2015 Argentina is demanding that HSBC repatriate £2.3bn of its clients' money. The bank stands accused of moving the money offshore for tax advantages. The head of Argentina's tax authority, Ricardo Echegaray, claimed HSBC's actions threatened the stability of the Latin American state. Speaking at the Argentine embassy, Echegaray told a host of journalists "HSBC built [...]
The five best quotes from Paddy Power’s results: Taylor Swift, HSBC, Chelsea and Liverpool March 3, 2015 Stunt-loving bookie Paddy Power has a way with words that makes for a more interesting read than the usual corporate earnings. Not only did the bookie pay out a windfall €392m (£285m) to shareholders after it reported a record profit of €167m, it gave the City some light relief. Never afraid to put some laughs into its lowdown on [...]
HSBC bosses sorry about tax scandal at Swiss arm February 25, 2015 HSBC’S chief executive and chairman yesterday gave repeated apologies to MPs over tax evasion in its Swiss private banking arm. But scrutiny of the bank is not over yet – former global private banking boss Clive Bannister could be called up next by MPs. Chief executive Stuart Gulliver and chairman Douglas Flint told MPs they [...]
HSBC spoils TSB results party with appearance before MPs – but they don’t mind February 25, 2015 It can be nerve-wracking hosting a party for the first time – what if nobody comes? Have I bought enough food? Will it clash with a more glitzy event in the social calendar? The same applies in the City, too. Yesterday was a big day for TSB, presenting its first set of full-year financial results [...]
HSBC bosses Stuart Gulliver and Douglas Flint apologise to MPs over Swiss private banking scandal February 25, 2015 Stuart Gulliver, HSBC's chief executive and Douglas Flint, the embattled bank's chairman, have apologised for "unacceptable" practices at its Swiss private banking arm. During questioning by the Treasury Select Committee, Gulliver admitted the scandal had caused "damage to trust" in HSBC, while Flint said he felt "shame" and would "take his share of responsibility". However, [...]
Emma Thompson’s husband refuses to pay tax until HSBC staff are put in prison February 25, 2015 Oscar-winning, actress Emma Thompson, will refuse to pay any tax until those involved in the HSBC tax evasion scandal are put in prison. Thompson's husband and fellow actor Greg Wise told the Evening Standard that he and his wife would stop giving money to HMRC until "everyone pays tax". Wise trumpeted his commitment to socialism [...]
HSBC’s Stuart Gulliver set to face MPs on tax evasion February 24, 2015 HSBC chief Stuart Gulliver will face MPs today to give evidence on claims its Swiss private banking arm helped clients evade taxes. Initially it was only the giant bank’s chairman Douglas Flint who had been summoned to the Treasury Select Committee for a 45-minute session. But now both bosses are attending parliament, and they will [...]
HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
HSBC share price hits two-year low in Hong Kong February 24, 2015 HSBC shares listed on Hong Kong's Hang Seng index, tumbled as much as 3.9 per cent to HK$69.15, after it posted figures showing pre-tax profits tanked 17 per cent to $18.6bn (£12.1bn) in 2014, down from $22.5bn the year before. The bank's shares listed on the FTSE 100 closed down 4.2 per cent at 573.3p yesterday, [...]