After consolidating power during the recent mid-term elections, now is the time for President Aquino to “sink his teeth” into substantial reforms to raise the productivity and efficiency of the economy, according to a research report by British banking giant HSBC.
His first love was advertising but his destiny turned out to be banking. And it seemed written in the stars for him to become not just any banker but to be “the rainmaker” who makes history as the first Filipino to head the Philippine operations of HSBC, some 137 years after the British banking giant set up shop in this archipelago.
The Philippines may be doing well economically, but it still needs to undertake more reforms to fill the vital infrastructure requirements of the country—something public-private partnership (PPP) programs can not fully cover, economists from British banking giant HSBC said.
HSBC could cut up to another 5,000 jobs as Europe’s biggest bank looks to find further savings, the Financial Times reported on Monday.
Change is coming to the top echelon of the Bureau of the Treasury (BTr) soon. Well, close to the top, to be more accurate.
British bank Hongkong and Shanghai Banking Corp. Ltd. was named “Best Debt House in the Philippines 2012” by Hong Kong-based financial magazine The Asset, winning the citation for the fifth consecutive year.
Oil prices eased in Asia Friday, as dealers took a breather from a rally in New York that was spurred by encouraging data on Chinese manufacturing and US jobs, analysts said.
British bank HSBC will pay $249 million to settle federal complaints that its U.S. division wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
The SM group isn’t too eager to celebrate—at least not yet—its latest milestone.
Hong Kong shares ended the morning session 0.60 percent higher on Friday after HSBC released data showing Chinese manufacturing activity picking up further in December.
HSBC’s record $1.9 billion payment to settle a U.S. investigation into money laundering that involved Mexican drug cartels and nations such as Iran is a new setback for the reputation of banks after a series of headline-grabbing scandals.
British banking giant HSBC will pay a record $1.9 billion to settle a money-laundering probe by U.S. federal and state authorities, a law enforcement official said Monday. The probe of Europe’s largest bank by market value has focused on the transfer of billions of dollars on behalf of nations such as Iran, which are under international sanctions, and the transfer of money through the U.S. financial system from Mexican drug cartels. Since 2009, several European banks have paid heavy settlements related to allegations they moved money for people or companies on the U.S. sanctions list.
