•   
  •   
  •   

World HSBC shares hit 25-year low on report of China 'unreliable list'

10:06  21 september  2020
10:06  21 september  2020 Source:   msn.com

Wisconsin likely won't have presidential results on election night

  Wisconsin likely won't have presidential results on election night Wisconsin likely won't have results in the presidential race on election night largely because state lawmakers won't OK early count.Betsy DeVos shares her concerns about schools failing to reopen for in-person learning

Shares in banking giant HSBC plunged to a 25 - year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been accused of allowing fraudulent activity to go unpunished. The troubled lender tanked 5.33 percent to close at HK

HONG KONG : Shares in banking giant HSBC plunged to a 25 - year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been accused of allowing fraudulent activity to go unpunished. The troubled lender tanked more than four

Shares in banking giant HSBC plunged to a 25-year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been accused of allowing fraudulent activity to go unpunished.

a man standing in front of a building: HSBC's share price has fallen more than 50 percent so far this year and is at its lowest since 1995 © Anthony WALLACE HSBC's share price has fallen more than 50 percent so far this year and is at its lowest since 1995

The troubled lender tanked more than four percent to HK$29.60 at one point -- a level not seen since mid-1995 -- as investors fret over its ability to continue doing business in China and Hong Kong, which make up a crucial portion of its growth.

LeBron James makes scary admission about MVP race

  LeBron James makes scary admission about MVP race Despite being upset, James also acknowledged that Giannis Antetokounmpo deserved the NBA MVP..James had 15 points and 12 assists in the Los Angeles Lakers’ 126-114 win over the Nuggets in Game 1 of the Western Conference Finals. He learned earlier in the day that he finished second in the NBA MVP vote behind Giannis Antetokounmpo. The Milwaukee Bucks star got 85 first-place votes, while James received 16.

Shares in banking giant HSBC plunged to a 25 - year low today. The sell-off came after the Global Times, a state-run English tabloid in China , reported the bank could be one of the first firms to be named on Beijing’s “ unreliable entity list ” as part of a tit-for-tat stand-off with several western countries.

Shares in banking giant HSBC plunged to a 25 - year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following "If the company is listed as an unreliable company by China , which looks certain since it’s a Global Times article, the bank will

The sell-off came after the Global Times, a state-run English tabloid in China, reported the bank could be one of the first firms to be named on Beijing's "unreliable entity list" as part of a tit-for-tat stand-off with several western countries.

The report pointed to HSBC's participation in Washington's investigation of Huawei and the arrest of its chief financial officer Meng Wanzhou in Canada.

Among penalties that can be meted out include restrictions on trade, investment and visas.

"If the company is listed as an unreliable company by China, which looks certain since it’s a Global Times article, the bank will be facing lots of difficulties to do business in China," Banny Lam, at CEB International Investment Corp., told Bloomberg News.

Jeanie Buss shares birthday note for ex-boyfriend Phil Jackson

  Jeanie Buss shares birthday note for ex-boyfriend Phil Jackson Cincinnati Bengals QB Joe Burrow reflects on the Bengals' Thursday Night Football loss to the Cleveland Browns.

Shares in banking giant HSBC plunged to a 25 - year low on Monday on fears it could be added to a Chinese list of firms deemed a threat to national security The sell-off came after the Global Times, a state-run English tabloid in China , reported the bank could be one of the first firms to be named on

Shares in banking giant HSBC plunged to a 25 - year low Monday on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been HSBC told the investigation team that it has always met its legal duties on reporting suspicious activities.

"They may have trouble expanding the mainland business, after investing so much there over the past few years."

On Sunday, HSBC was among a group of banks said to have allowed fraudsters to transfer millions of dollars around the world even after it had learned of the scam.

The International Consortium of Investigative Journalists cited leaked official US documents that said the bank "kept profiting from powerful and dangerous players" in the past two decades.

HSBC told the investigation team that it has always met its legal duties on reporting suspicious activities.

Shares in another Hong Kong-listed bank, Standard Chartered, also tumbled almost four percent after it was mentioned in the report.

HSBC has seen its share price more than halve so far this year, hit by the pandemic -- net profit slumped 69 percent in the first six months -- and China-US tensions.

The lender acts as a major business conduit between China and the West but that has left it more vulnerable than most to the crossfire of the increasingly bellicose relationship between the superpowers.

The bank has tried to stay in Beijing's good graces, vocally backing Hong Kong's national security law, sparking criticism in Washington and London.

Analysts saw it as an attempt to protect its access to China, which has a track record of punishing businesses that do not toe Beijing's line. But that has not shielded it from Beijing's wrath.

"Current tensions between China and the US inevitably create challenging situations for an organisation with HSBC's footprint," HSBC Chief executive Noel Quinn said last month.

"However, the need for a bank capable of bridging the economies of East and West is acute, and we are well placed to fulfil this role," he added.

su/dan/hg

50 women in entertainment who shattered the glass ceiling .
There are countless women whose influence can be felt in the worlds of film, television, music and art, but these 50 have broken new ground as entertainers, activists and philanthropists.

—   Share news in the SOC. Networks
usr: 0
This is interesting!