HSBC Holdings said on Monday it will book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff's Ponzi scheme.
HSBC takes US$1.1b hit on Madoff fraud litigation
(Oct 27): HSBC Holdings plc will set aside US$1.1 billion to cover litigation by investors who lost money in Bernard Madoff’s fraud, joining other global banks unexpectedly hit recently with ...
HSBC expects $1.1bn hit from Madoff litigation
HSBC will set aside $1.1bn for a lawsuit brought by investors who lost money in Bernard Madoff’s multibillion-dollar Ponzi scheme after a Luxembourg court denied the bank’s appeal.
Huawei-powered Chinese EV maker Seres seeks US$1.7 billion in Hong Kong listing
The company aims to build an open ecosystem through long-term partnerships with Huawei and Contemporary Amperex Technology.
Hong Kong start-ups have ‘high hopes’ for Saudi trip as Paul Chan heads to FII
Hong Kong firms eye expansion, with finance chief leading a high-powered delegation to Future Investment Initiative forum in Riyadh.
Should Hong Kong Exchanges and Clearing’s Stance on Crypto Treasuries Concern SEHK:388 Investors?
In recent months, Hong Kong Exchanges and Clearing has rejected several companies' applications to adopt large-scale digital asset treasury strategies, citing regulatory rules prohibiting such ...
Hong Kong’s Paul Chan meets Xia Baolong on trip to Beijing, Hebei projects
Finance chief Paul Chan praises construction, investment-attraction efforts for Beijing Municipal Administrative Centre, Xiongan New Area.
How Hong Kong’s Hang Seng Bank has evolved over the years
Hang Seng Bank, one of the biggest banks in Hong Kong, on Thursday received a proposal from its parent HSBC to take it private. The bank's impairments tied to the city's property sector, which is ...
Hang Seng Bank shares jump 25% as parent HSBC’s privatization bid values it at over $37 billion
HSBC said it has asked the board of Hang Seng Bank to put forward a privatization proposal to shareholders via a scheme of arrangement under Hong Kong’s Companies Ordinance.
China’s pause on stablecoin projects will not dampen Hong Kong’s crypto push, experts say
Beijing's recent moves to rein in mainland Chinese firms' stablecoin and tokenisation initiatives in Hong Kong may have rattled the city's crypto sector, but the Chinese government's increased ...
Hang Seng Bank Cancels Shares Amid Strategic Proposal
Hang Seng Bank ( ($HK:0011) ) has provided an update. Hang Seng Bank Limited has announced the cancellation of 2,800,000 shares as part of its ...
Hong Kong Stock Exchange Gains Traction Amid Global Headwinds, Says Brightyear Consultants
Brightyear Consultants has issued its latest market commentary on the Hong Kong Stock Exchange (HKEX), observing a clear uptrend supported by stabilizing valuations, strong corporate earnings, and ...
Top HSBC wealth executive Trista Sun to leave bank, memo says
Trista Sun, one of HSBC's top wealth executives, will leave the bank, following a large scale-down of a China project she oversaw. Sun, managing director for strategic projects at HSBC's International ...
Pony AI’s Hong Kong IPO Can Boost Upside Potential
Read more on Pony AI's Hong Kong IPO prospects, robust revenue growth, and AV trucking expansion. See why Chinese AI investment could boost future stocks.