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Mail & Guardian

Hsbc Bank

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Prosecutors said the subsidiary, HSBC Private Bank SA (Suisse), had helped hundreds of rich clients cheat the Belgian taxman including by giving them access to offshore accounts in overseas tax havens. (AFP)
AGENCY

HSBC to pay nearly €300mn to end Belgian criminal probe

As well as paying €294.4-million as a criminal fine, the bank will also hand over 400,000 euros in civil damages to the Belgian state.

  • Agency
1 min read
HSBC added: “In the near term, the nature and impact of the UK’s departure from the European Union remain highly uncertain.”(Pierre Albouy/Reuters)
CHINA

HSBC boss in shock exit as bank warns of ‘challenging’ times

Monday’s surprise news came shortly before HSBC reported first-half net profit up 18.6% at $8.5-billion from a year earlier.

  • Roland Jackson
  • Jasmine Leung
2 min read
HSBC added: “In the near term, the nature and impact of the UK’s departure from the European Union remain highly uncertain.”(Pierre Albouy/Reuters)
HSBC BANK

Foreign investment continues to dip in Nigeria as HSBC, UBS exit

Two global banking giants have closed their offices in Nigeria in yet another blow to the country’s economy

  • Mashadi Kekana
2 min read
‘The truth of the matter is this: inanimate objects have power — to define
CLIMATE CHANGE

Climate summit: The greening of international finance

New instruments have been developed to help mobilise financing for projects to mitigate climate change, but measuring their impact remains difficult

  • Agence France Presse
4 min read
FANA HLONGWANE

Exposed: The Africans named in the HSBC Swiss Leaks

The leaked files reveal the wealthiest clients, from businesspersons and entertainers – who will have made their wealth legitimately – to politicians.

  • Samantha Spooner
13 min read
Fake notes were put in the sun “to dry” during a protest in front of a HSBC branch building.
DRUG CARTELS

British bank HSBC in money laundering probe

US prosecutors probing whether HSBC was involved in laundering money for Mexican drug cartels and moving cash for Saudi banks tied to terrorists.

  • Sapa Afp
1 min read
EUROZONE

HSBC confirms 30 000 jobs will go

HSBC’s new chief executive says the positions will go worldwide over the next three years after announcing first-half profits up 3% to $11.5-billion.

  • Staff Reporter
3 min read
BANKING INDUSTRY

HSBC banker paid $19-million for 2008

HSBC paid one of its bankers more than £13,7-million last year, while another unnamed member of staff received more than £11-million.

  • Staff Reporter
1 min read
CAPITALISATION

State gives account on SAA

The Department of Public Enterprises responds to what it calls inaccuracies about the airline’s capitalisation.

  • Staff Reporter
3 min read
CITIGROUP

Randgold prices offer at $35,25, raises $211,5m

African gold producer Randgold Resources priced its offering of six million shares at ,25 per share on Thursday, resulting in gross proceeds of ,5-million. The offering price…

  • Staff Reporter
1 min read
BANK OF NOVA SCOTIA

London ritual dating from 1919 sets price of gold

When gold reached dizzying heights above a troy ounce in recent weeks, it cast a spotlight on a ritual that has taken place in London for the past 88 years. Twice a day,…

  • Atul Prakash
4 min read
ALQAEDA

Turkish police foil bomb attack in capital

Turkish police foiled a bomb attack in the capital, Ankara, on Tuesday, the sixth anniversary of the 9/11 al-Qaeda attacks on the United States. Ankara’s governor Kemal Onal said…

  • Selcuk Gokoluk
2 min read