Tag: HSBC Holdings plc (NYSE:HSBC)

May 17, 2018 BY Valentina Kirilova

HSBC and ING execute live trade finance transaction on R3’s Corda Blockchain platform

Letter of Credit transaction facilitated bulk shipment of soybeans for Cargill HSBC Holdings plc (NYSE:HSBC) and ING Bank just anounced that they have successfully executed a live trade finance transaction for international food and agriculture conglomerate Cargill using R3’s Corda scalable blockchain platform. The blockchain transaction involved a bulk shipment of soybeans from Argentina, through Geneva’s…

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April 20, 2018 BY Valentina Kirilova

HSBC strengthens energy policy

HSBC Holdings plc (NYSE:HSBC) has announced a withdrawal from the coal fired power sector, as part of its efforts to support a transition to a low-carbon economy. In 2011, HSBC decided to significantly restrict its support for new coal-fired power plants and effectively ceased financing them in 78 developed countries. It will now stop financing…

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ICO fraud
January 29, 2018 BY LeapRate Staff

Spoofing and Commodities Fraud charges lead to $46 million in fines for Deutsche Bank, HSBC and UBS

The U.S. Commodity Futures Trading Commission today announced, in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division, criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes. What is spoofing? Spoofing is the practice of bidding or offering with the intent to…

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January 19, 2018 BY Valentina Kirilova

HSBC Holdings agrees to pay more than $100 million to resolve fraud charges

HSBC Holdings plc (NYSE:HSBC) announced that it has entered into a three-year deferred prosecution agreement with the US Department of Justice (DoJ) to resolve the DoJ’s investigation into HSBC’s historical foreign exchange sales and trading activities within its Global Markets business. Under the agreement, HSBC will pay a total of US$101.5m, including a US$63.1m fine…

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October 30, 2017 BY Valentina Kirilova

HSBC Holdings completes 71% of the buy-back in 3Q17

HSBC Holdings plc (NYSE:HSBC) announced its 3Q 2017 Earnings Release. The highlights include: Financial performance Reported profit before tax for 9M17 of $14.9bn was $4.3bn or 41% higher than for 9M16, in part reflecting favourable movements in significant items, which included a loss on sale and trading results of the operations in Brazil that we…

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October 13, 2017 BY Valentina Kirilova

John Flint to succeed Stuart Gulliver as HSBC Group Chief Executive

HSBC Holdings plc (NYSE:HSBC) announced that John Flint, Chief Executive of Retail Banking and Wealth Management, will succeed Stuart Gulliver as Executive Director and Group Chief Executive. This will be effective from 21 February 2018 after Stuart has stepped down from both roles and retired from HSBC. Group Chairman Mark Tucker, who led the search to…

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