Sunday, May 19, 2019

Tag: HSBC

HSBC: There’s Now a Very High Chance of a Severe Fall In U.S. Stocks

The technicals don't look good. Yesterday's big stocks drop may have just been the beginning. Or so says HSBC Holdings Plc technical analyst Murray Gunn. In a new note, Gunn says he is now on alert for a big dip in U.S. equities. "With the U.S. stock market selling off aggressively...

Bayer Clinches Monsanto Deal for $66 Billion With Fourth Bid

Bayer AG agreed to buy Monsanto Co. in a deal valued at $66 billion, winding up four months of talks to create the world’s biggest supplier of seeds and pesticides. Bayer will pay $128 a share in cash, the company said in a statement Wednesday. The bid -- this year’s...

Eric Holder’s Longtime Excuse for Not Prosecuting Banks Just Crashed and Burned

Eric Holder has long insisted that he tried really hard when he was attorney general to make criminal cases against big banks in the wake of the 2007 financial crisis. His excuse, which he made again just last month, was that Justice Department prosecutors didn’t have enough evidence to...

Chaos at Europe’s big banks: Italy begs for bad loans bailout and IMF warns...

Europe's banking sector is braced for chaos, with Italian giants desperate for a bailout and Germany’s biggest lender deemed a threat to the world economy. In Italy, politicians begged the European Union for permission to bail out troubled lenders sitting on more than £300bn of bad loans. Meanwhile, Portugal – long...

Here’s why gold could jump 10% very soon

“Gold is a reliable barometer of risk, and we believe it could rally by up to 10% should the UK vote to leave the EU,” that’s according to a flash research note from HSBC's chief precious metals analyst James Steel sent to clients today. According to the report, if the...

HSBC: Gold will explode if Britain votes for a Brexit

Gold prices are likely to explode if Britons vote to leave the European Union when they go to the polls next Thursday, gaining as much as 10% in a short space of time. Gold is seen as a haven for cash. It does not pay a coupon like a bond,...

Saudi Arabia said to weigh bond sale of up to US$15b

Saudi Arabia is considering selling as much as US$15 billion of bonds this year in what would be the country's first foray into international capital markets, people with knowledge of a matter said. Encouraged by Qatar's record issue last week, Saudi Arabia is weighing a sale of at least...

ICBC buys Barclays’ US$80bn London gold vault

ICBC Standard Bank is buying Barclays' London precious metals vault, giving the Chinese bank the capacity to store gold worth more than US$80bn in the secret location. The vault is one of the largest in Europe, with a capacity to hold 2,000 tonnes of gold, silver, platinum and palladium. It...

U.S. Secretary of State John Kerry Meets With European Bankers in Iran-Business Push

Move meant to ensure that Tehran sees the relief that the U.S. and others pledged it in January. LONDON—U.S. Secretary of State John Kerry met with heads of some of Europe's biggest banks in London on Thursday to address their concerns about doing business in Iran, in a controversial push...

Seven big banks settle U.S. rate-rigging lawsuit for $324 million

Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market. The settlement made public on Tuesday, which requires court approval, resolves antitrust claims against Bank of America...

U.S. Treasury anti-laundering head to join HSBC

The U.S. Treasury Department's top anti-money laundering official is resigning to take what sources said on Tuesday was a top post at HSBC Holdings Plc, which is struggling to meet terms of an earlier settlement with the U.S. government. Jennifer Shasky Calvery announced she was resigning as director of Treasury's...

Deutsche Bank Turns on the Gold-fix Cartel

Deutsche Bank, Germany’s once-respected giant bank, has admitted being a party–together with a cartel of major Wall Street and select other international banks–in deliberately manipulating the price of gold over a period of years. As well, the German bank, in a court settlement with litigants in a US court,...

Panama Papers: Massive Tax Haven Document Leak Exposes Corruption and Crime on Global Scale

A trove of files obtained by German journalists reveals how a global industry of law firms and large banks sell financial secrecy services to politicians, crooks and drug dealers as well as billionaires, celebrities and sports stars. A massive leak of millions of documents has revealed that heads of state,...

Profits of death: disaster capitalists fan flames of war in Syria

American, European and Russian corporations are the only ones winning from humanitarian disasters of their own making. As a tentative ceasefire continues to hold in Syria, with the next round of peace talks having resumed this week, you’d be forgiven for thinking that there might be an end in sight...

Pound in Worst Day Since Banking Crisis as Brexit Fears Bite

The pound fell the most since the U.K.’s 2009 banking crisis after London Mayor Boris Johnson, one of the nation’s most popular politicians, said he’ll campaign for Britain to leave the European Union in a June referendum. Sterling dropped to its lowest level in almost seven years against the dollar,...

The Worth of Gold Growing by the Day

The worth of gold in the world is growing by the day. That might seem like a paradox but it isn’t. The worth of gold is not fixed on the Comex futures exchange, or the trade in London or Zurich. True, most of the gold-trading public takes its cue...

Six Banks Pay $5.8 Billion, Five Guilty of Market Rigging

Six of the world’s biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions. Citicorp, JPMorgan Chase & Co., Barclays Plc and Royal Bank of Scotland...

The Global Currency Wars

Capitalism is by nature based on intense, and often destructive, competition. Not only between capital and labor, but between capitalists themselves. But not all competition is the same. There is competition when the global economic pie is growing; and there is competition when it is stagnating or declining. And...

Deutsche Bank, Credit Suisse Said to Hire for Saudi Open

Deutsche Bank AG and Credit Suisse Group AG are among financial institutions seeking to hire traders in Saudi Arabia as the nation prepares to open its stock market to foreign investors, people with knowledge of the matter said. Deutsche Bank is hiring for stock sales and trading, administrative staff and...

Death, drugs, and HSBC

Fraudulent blood money makes the world go round. Recent reporting on illegal tax evasion by the world’s second largest bank, HSBC, opens a window onto the pivotal role of Western banks in facilitating organised crime, drug-trafficking and Islamist terrorism. Governments know this, but they are powerless to act, not just...

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