HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the bank, its group CEO said. “I’d be naive to think that the turmoil in the market doesn’t have the potential to have second-order and third-order…
HSBC CEO Sees Market Impact From Evergrande Debt Woes
September 23, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesdebtEconomiesevergrandeHK BusinessHong KongHSBCimpactmarketMarketsUKWorld
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Pro-China HSBC Bank Exits US Retail Banking Amid Financial Losses
September 16, 2021
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Business & EconomyChinaChina Business & Economychina tiescitizens bankCompaniesHK BusinessHong KongHSBCUSUS NewsUS-China relations
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HSBC is in the process of retreating from the American retail banking market. Meanwhile, customers in New York have already been notified to clean out their safe-deposit boxes. HSBC Holdings is a British multinational investment bank and financial services holding company. It’s the largest bank in Europe and headquartered in London. According to a May…
Meng Wanzhou Part of a ‘Coordinated Plan’ to Mislead HSBC: Lawyer
August 12, 2021
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CanadaChinaChina Human RightsChinese RegimeExtradition ActHSBCHuaweiInternational RelationsMeng WanzhouMichael SpavorWorld
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Huawei senior executive Meng Wanzhou’s actions were part of a “coordinated plan” that exposed international bank HSBC to risks of economic prejudice, penalties, and losses, said a lawyer for Canada’s attorney general. Robert Frater told the British Columbia Supreme Court that HSBC was entitled to make decisions about providing financial services based on “honest and…
Meng Wanzhou Part of a ‘Coordinated Plan’ to Mislead HSBC: Canadian Govt. Lawyer
August 12, 2021
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CanadaChinaChina Human RightsChinese RegimeExtradition ActHSBCHuaweiInternational RelationsMeng WanzhouMichael SpavorWorld
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Huawei senior executive Meng Wanzhou’s actions were part of a “coordinated plan” that exposed international bank HSBC to risks of economic prejudice, penalties, and losses, said a lawyer for Canada’s attorney general. Robert Frater told the British Columbia Supreme Court that HSBC was entitled to make decisions about providing financial services based on “honest and…
Huawei Executive Meng Wanzhou’s Formal Extradition Hearing in B.C. Enters Day 2
VANCOUVER—Government lawyers are expected to argue today that an international bank risked losses due to the alleged misrepresentations by one of Huawei’s most senior executives. Meng Wanzhou, who is the Chinese telecom giant’s CFO and daughter of the company’s founder, is facing extradition to the United States on fraud charges that both she and the…
World’s Largest Steel Company Blacklists HSBC In Retaliation For Huawei Case
The world’s largest steel company, China Baowu Steel Group, blacklisted HSBC Holdings PLC, claiming that it is a high-risk lender. HSBC Holdings is the only foreign lending institution on Baowu’s blacklist. All other lenders on the list are floundering Chinese banks. Mike Sun, a North American investment strategist, believes that Baowu Group did this in…
Huawei, HSBC Agree on Document Deal for Extradition Case
HONG KONG—Chinese telecommunications equipment firm Huawei said Monday that it has reached an agreement with HSBC in Hong Kong to obtain documents that its chief financial office Meng Wanzhou hopes will help prevent her extradition to the United States. Meng, who was detained in Canada in 2018 at the behest of U.S. authorities, has been…
Ericsson’s Backing Huawei Shows How Companies Become ‘Hostages’ to the CCP
Commentary Telecommunication giant, Ericsson, did not enjoy the benefits of a ban of its rival, Huawei, in Sweden, instead, it has been asking its government to reconsider the ban; analysis suggested the profits gained from the Chinese market left the company susceptible to coercion by the Chinese Communist Party (CCP). As the United States and…
HSBC Doubles Down on China and Asia Amidst Criticism by US, UK
Commentary After aligning with the Chinese Communist Party (CCP), there is no turning back. Having faced criticism in the UK and the United States for endorsing the national security law forced upon Hong Kong by the CCP, global banking giant HSBC is now doubling down on China and the Asia market. The London-based international bank…
HSBC Doubles Down on China, Asian Markets Amidst Criticism by US, UK
Commentary After aligning with the Chinese Communist Party (CCP), there’s no turning back. Having faced criticism in the UK and the United States for endorsing the national security law forced upon Hong Kong by the CCP, global banking giant HSBC is now doubling down on China and the Asian market. The London-based international bank announced…
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