Dark days turn darker for HSBC as profits dive


…a Heinous & Sinful Banking Corporation [HSBC] that it is… with a series of immoral and criminal acts for the past 150 years, it seems not to ever end and as a Too-Big-To-Jail bank, it got away each and every time with only meager fines…will it gets away this time? 

FT

HSBC

…the mood has darkened at its 45-floor headquarters in London’s Canary Wharf. With its public reputation already battered by a tax-evasion scandal at its Swiss private bank, HSBC reported a sharp drop in pre-tax profits on Monday that sent its shares tumbling.

How serious is this for the bank that will this year celebrate the 150th anniversary of its creation in Asia — the region that still generates the vast majority of its profits?

 

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More stories:

US subpoena adds to HSBC’s burden
Justice department investigating multiple banks for possible manipulation of precious metals market
HSBC chief says bankers face double standards
UK government promised a legal crackdown on banks that facilitate tax evasion
Chief offers explanation for Swiss account
Gulliver says there was no tax benefit to Panamanian structure
HSBC and problem of managing mega banks
Pinning responsibilities on bosses is a way to check pointless scale
UK to run after banks that aid tax evasion
UK chancellor plans penalties on financial professionals that collude with dodgers
HSBC responds to criticism of Gulliver
Bank issues statement regarding chief’s domicile and his Swiss account
HSBC shares drop as profit falls
Earnings slip comes as chief executive is pulled into tax scandal
Takedown of Gulliver is tricky business
Populist-minded glimpse into HSBC chief’s personal finances carries ethical snags

HSBC Chief Defends Swiss Bank Account Worth $7.7 Million

LONDON — Already forced to apologize for helping clients hide their income from tax authorities, HSBC had to explain on Monday why its chief executive went to lengths for years to hide his bonus, at least from his co-workers. – New York Times

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3 thoughts on “Dark days turn darker for HSBC as profits dive

  1. Pingback: LAST DATE TO FILE INCOME TAX RETURN MALAYSIA 2015

  2. Pingback: 2015 TAX FILING MALAYSIA

  3. Pingback: The Too-Big-to-Fail Banks Have Failed and How Come The Whole World is Still Up and Running? | Satu Insan – Malaysia

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