HSBC Holdings News

China started direct trading of the yen and the yuan Friday in Tokyo and Shanghai, another step in its efforts to expand the global use of its currency and reduce reliance on the dollar.

China 's manufacturing grew at the weakest pace since December, increasing the odds the government will boost stimulus to counter a deceleration in the world's second-biggest economy.

The sale of the card acquiring business by HSBC Bank Malta plc, a 70% owned subsidiary of HSBC Holdings plc, to HSBC Merchant Services Ltd, a Maltese subsidiary of Global Payments Inc, has now been completed.

The bond was sold as part of the bank's euro medium-term notes programme in a transaction lead-managed by Bank of China , Commerzbank and HSBC .

HSBC Bank China has gained regulatory approval to become one of the market makers of direct yuan-yen trading in the foreign exchange market on the Chinese mainland.

Shares of ArcelorMittal ADR opened at 14.30 on Tuesday. ArcelorMittal ADR has a 52 week low of $13.96 and a 52 week high of $35.31. The company has a market cap of $22.151 billion and a P/E ratio of 26.78. ArcelorMittal ADR last announced its earnings results on Thursday, May 10th.

European stocks gained for the third time in four days before reports from America that may show consumer confidence is growing and the housing market is stabilizing.

Hong Kong shares were set to start lower on Tuesday, with Europe's largest bank, HSBC Holdings Plc, weaker after a surge in Spanish borrowing costs became the latest worry for investors watching for spillover effects in Asia.

Charles Elvin, chief executive officer at the Institute of Leadership & Management and Bronwyn Curtis, a senior adviser at HSBC Holdings Plc, discuss promoting more women to board level and the possibility of imposing quotas.

The bank, through its subsidiaries, is engaged in providing domestic and international banking and related financial services.

Suntech Power Holdings Co. , the world's biggest solar-panel maker, led declines in Chinese solar companies trading in New York after HSBC Holdings Plc reduced its price estimate on the shares.

The euro zone will likely hold together, but continuing volatility could result in a deposit-guarantee scheme being created for the members of the monetary union, HSBC Holdings PLC Chief Executive Stuart Gulliver said Friday.

Separately, analysts at Societe Generale upgraded shares of E.ON AG from a "hold" rating to a "buy" rating in a research note to investors on Monday, April 2nd.

The Federal Reserve Thursday released a set of detailed plans banks have put together to correct problems in their mortgage-servicing and foreclosure-processing operations.

Bargain-hunters stepped in to pick up beaten-down bank and energy stocks in Europe yesterday, helping investors shake off downbeat economic data and a disappointing European Union leaders meeting.

Hong Kong shares were set to open higher on Friday helped by a 1.2 percent jump for HSBC Holdings Plc, but the benchmark Hang Seng Index is poised for a third-straight loss.

HSBC Bank USA is laying off 77 employees in its anti-money laundering unit in Buffalo this fall and moving the jobs to New York City and Delaware, as the British-owned bank faces intense scrutiny and heavy criticism in Washington over alleged violations of federal laws.

The outcome of last night's informal meeting of the European Council was widely expected, with leaders reiterating their stance that they want to keep Greece in the Eurozone as long as it meets the terms of its bailout.

The major banking institutions in the U.S have experienced several twists and turns recently.

China's manufacturing sector was predicted to deteriorate at a faster rate in May because of the further contraction of new orders and exports, HSBC Holdings Plc said.