Will Osborne back down over HSBC’s bank levy concerns?
The timing of today’s HSBC announcement couldn’t be any more convenient – and there are signs that George Osborne may respond in a way that will please the bank.
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HSBC has bought up the UK arm of the collapsed American Silicon Valley Bank for just one pound – under a deal brokered by the government aimed at protecting UK investors and tech startups from incurring huge losses.
Two senior compliance staff hired by HSBC Saudi Arabia, a subsidiary of the main British bank, have unaccredited business degrees, a Channel 4 News investigation finds.
Some 275,000 payments, including salaries, are delayed before the bank holiday weekend because of a glitch in HSBC’s IT systems.
The timing of today’s HSBC announcement couldn’t be any more convenient – and there are signs that George Osborne may respond in a way that will please the bank.
The job cuts of 25,000 at HSBC announced today may sound dramatic, but the bank’s CEO, Stuart Gulliver has tried to get his sprawling behemoth into order before.
HSBC is cutting a reported 8,000 in the UK as part of an overhaul to slash costs and reshape the business.
The creep of banking regulation, combined with a potential Brexit, has created the image that Britain is not the best place to do business for the likes of HSBC.
Britain’s biggest bank HSBC says it is considering moving its headquarters out of London. Why is this on the agenda and how many British jobs are at stake?
He’s ordained, he’s a former HSBC boss, and he’s the man public accounts chairman Margaret Hodge wants to question over those Swiss accounts. I caught up with him yesterday – where else? – in a church.
Channel 4 News tracks down the elusive former HSBC boss Lord Green, who expresses his “dismay and regret” about tax evasion and avoidance at the bank’s Swiss branch.
HSBC’s two bosses, Stuart Gulliver and Douglas Flint, are about to be appear in front of the Treasury select committee. But what of former chairman Lord Stephen Green?
In the wake of revelations of tax evasion at the bank’s Swiss branch, HSBC Chief Executive Stuart Gulliver tells MPs his complex pay arrangements “had no tax purpose”.
HSBC “disappointed” last year, its chief executive admits, as the bank reports a 17 per cent drop in profits following the recent tax avoidance scandal.
The Swiss financial authorities have revealed that the banking giant HSBC has been reprimanded twice in recent years under anti-money laundering legislation.
HSBC’s offices in Geneva are raided by prosecutors investigating the scandal over the banks past actions in helping overseas clients avoid taxes.