International Business News - HBC http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The British government injected an unprecedented 37 billion pounds ($63 billion) into some of the country's leading banks Monday to avoid a full-scale collapse of the sector. http://www.ibtimes.com/articles/20081013/british-banks-to-get-63b-infusion-from-government.htm Mon, 13 Oct 2008 15:39:50 EDT HSBC Bank USA N.A. said Thursday it lowered its prime lending rate to 4.5 percent from 5 percent. The cut in the prime rate matches the 0.5 percent rate cut the Federal Reserve Board announced Wednesday. The prime rate usually moves in lockstep with the fed funds rate, which is now 1.5 percent. http://www.ibtimes.com/articles/20081009/hsbc-cuts-prime-rate-to-4-5-percent.htm Thu, 09 Oct 2008 10:18:14 EDT Prime Minister Gordon Brown summoned the head of Britain's central bank and chief financial regulator for talks Tuesday after banks' share prices plunged amid investors' worries that the government hasn't done enough to strengthen bank balance sheets. http://www.ibtimes.com/articles/20081007/shares-in-british-banks-plunge.htm Tue, 07 Oct 2008 14:43:14 EDT Frank sees bailout agreement by Sunday WASHINGTON (AP)--The Bush administration and Congress anxiously revived negotiations Friday on a $700 billion financial bailout, one day after the largest bank collapse in U.S. history provided a brutal reminder of the risks of failure. http://www.ibtimes.com/articles/20080926/business-highlights.htm Fri, 26 Sep 2008 21:12:12 EDT HSBC Holdings PLC, Europe's largest bank by market value, is cutting 1,100 jobs worldwide in the wake of the financial turmoil, a spokesman said Friday. http://www.ibtimes.com/articles/20080926/hsbc-cuts-1-100-jobs-worldwide.htm Fri, 26 Sep 2008 07:10:29 EDT British bank HSBC Holdings PLC said Friday it has canceled an agreement to purchase a controlling stake in a South Korean bank from U.S. private equity group Lone Star Funds amid world financial turmoil. http://www.ibtimes.com/data/articleimgs/134223-south-korea-hsbc-lone-star.jpg http://www.ibtimes.com/articles/20080919/hsbc-terminates-agreement-to-buy-south-korean-bank.htm http://www.ibtimes.com/articles/20080919/hsbc-terminates-agreement-to-buy-south-korean-bank.htm Fri, 19 Sep 2008 08:19:12 EDT America's battered financial services industry is close to getting the lifeline it was desperately seeking as government leaders sketched out a plan to rescue banks from bad debts that threatened their survival. http://www.ibtimes.com/data/articleimgs/133907-earns-goldman-sachs.jpg http://www.ibtimes.com/articles/20080919/morgan-stanley-others-may-get-govt-lifeline.htm http://www.ibtimes.com/articles/20080919/morgan-stanley-others-may-get-govt-lifeline.htm Fri, 19 Sep 2008 00:35:34 EDT British bank HSBC Holdings PLC said Friday it has canceled an agreement to buy a controlling stake in a South Korean bank from U.S. private equity group Lone Star Funds amid world financial turmoil. http://www.ibtimes.com/articles/20080918/hsbc-terminates-agreement-to-buy-south-korean-bank.htm Thu, 18 Sep 2008 22:29:28 EDT America's battered financial services industry is close to getting the lifeline it was desperately seeking as government leaders sketched out a plan late Thursday to rescue banks from bad debts that threatened their survival. http://www.ibtimes.com/data/articleimgs/133557-earns-goldman-sachs.jpg http://www.ibtimes.com/articles/20080918/ap-source-morgan-stanley-seeks-deal-with-wachovia.htm http://www.ibtimes.com/articles/20080918/ap-source-morgan-stanley-seeks-deal-with-wachovia.htm Thu, 18 Sep 2008 22:27:12 EDT Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous banking regulators began approaching the most logical buyers. http://www.ibtimes.com/data/articleimgs/133111-washington-mutual.jpg http://www.ibtimes.com/articles/20080918/with-stock-sinking-wamu-appears-headed-for-sale.htm http://www.ibtimes.com/articles/20080918/with-stock-sinking-wamu-appears-headed-for-sale.htm Thu, 18 Sep 2008 03:45:58 EDT Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous banking regulators began approaching the most logical buyers. http://www.ibtimes.com/data/articleimgs/132525-washington-mutual-bank.jpg http://www.ibtimes.com/articles/20080917/regulators-gauging-other-banks-interests-wamu.htm http://www.ibtimes.com/articles/20080917/regulators-gauging-other-banks-interests-wamu.htm Wed, 17 Sep 2008 19:55:13 EDT South Korea's financial regulator expressed optimism Monday over prospects for approving HSBC's proposed purchase of a local bank from buyout group Lone Star Funds. http://www.ibtimes.com/articles/20080908/skorea-regulator-optimistic-on-hsbc-lone-star-deal.htm Mon, 08 Sep 2008 07:16:58 EDT World stock markets soared Monday after Washington announced a bailout of mortgage giants Fannie Mae and Freddie Mac--a move that could help bolster a shaky U.S. housing market and renew global investor confidence. http://www.ibtimes.com/data/articleimgs/125887-japan-markets.jpg http://www.ibtimes.com/articles/20080908/asian-stocks-soar-after-freddie-fannie-bailouts.htm http://www.ibtimes.com/articles/20080908/asian-stocks-soar-after-freddie-fannie-bailouts.htm Mon, 08 Sep 2008 10:14:47 EDT Shares of Lehman Brothers Holdings Inc. rose Wednesday as investors weighed reports that the embattled investment bank might find a fresh source of capital. http://www.ibtimes.com/data/articleimgs/122308-south-korea-kdb-lehman.jpg http://www.ibtimes.com/articles/20080904/lehman-rises-on-reports-of-capital-injections.htm http://www.ibtimes.com/articles/20080904/lehman-rises-on-reports-of-capital-injections.htm Thu, 04 Sep 2008 01:10:57 EDT Shares of Lehman Brothers Holdings Inc. rose Wednesday as investors weighed reports that the embattled investment bank might find a fresh source of capital. http://www.ibtimes.com/articles/20080903/lehman-rises-on-reports-of-capital-injections.htm Wed, 03 Sep 2008 23:33:56 EDT Lehman Brothers Holdings Inc. shares edged higher Wednesday amid continued speculation the embattled investment bank is in talks with a Korean bank about a possible stake. http://www.ibtimes.com/articles/20080903/lehman-brothers-moves-higher-on-more-deal-talk.htm Wed, 03 Sep 2008 17:21:43 EDT South Korea's top financial regulator said Tuesday it would consider fining U.S. private equity firm Lone Star Funds for failing to submit documents proving its qualification to remain a major shareholder in Korea Exchange Bank. http://www.ibtimes.com/articles/20080902/skorea-to-consider-fining-lone-star-funds.htm Tue, 02 Sep 2008 05:50:28 EDT Major investment banks say they have begun trading under new rules by Saudi Arabia that allow foreigners their first-ever access to individual stocks listed on the kingdom's exchange, the largest in the Middle East. http://www.ibtimes.com/articles/20080827/banks-act-on-saudis-foreign-investment-shift.htm Wed, 27 Aug 2008 10:09:29 EDT Saudi Arabia has decided to give outsiders limited access to the country's stock market--a move that could open up the Middle East's largest exchange to increased foreign investment. http://www.ibtimes.com/articles/20080821/saudi-move-clears-way-for-outside-investment.htm Thu, 21 Aug 2008 11:21:15 EDT China's biggest bank said Thursday that its first-half net profit jumped 57 percent to a record $9.4 billion, surpassing international rivals embroiled in the credit crisis. http://www.ibtimes.com/articles/20080821/icbc-says-1h-net-profit-rises-to-record-9-4-bln.htm Thu, 21 Aug 2008 08:24:38 EDT