HSBC Bank USA News
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A Deutsche Bank AG unit lost a bid to dismiss a lawsuit by mortgage-bond investors who claim $250 million in damages and demand that the bank repurchase the loans underlying the securities.
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DB Structured Products Inc., a unit of Deutsche Bank AG, was accused in a lawsuit of selling a a “massive number” of defective loans to a securitization trust.
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Nomura Holdings Inc., Japan’s largest brokerage, was sued by a trust over an alleged breach of contract involving $1.14 billion of mortgage-backed securities.
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Asian stocks fell, with Japan’s Topix Index falling the most since March 2011, after a survey of sentiment among the country’s largest manufacturers missed estimates and an official gauge of China’s factory output expanded at a slower-than-expected pace.
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Japanese stocks fell, with the Topix Index dropping the most since March 2011, as a central bank survey of manufacturer sentiment missed economists’ estimates and the yen climbed.
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HSBC Holdings Plc settled a lawsuit brought by a group of Taiwanese banks that accused HSBC Bank USA of helping deceased financier Danny Peng’s PEMGroup defraud them of more than $500 million.
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HSBC Holdings Plc settled a lawsuit brought by a group of Taiwanese banks that accused HSBC Bank USA of helping deceased financier Danny Pang’s PEMGroup defraud them of more than $500 million.
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Confab Industrial SA said its board gave approval for the company to get $350 million in five-year financing from HSBC Bank USA. Confab will use the money to acquire 25 million common shares from Usinas Siderurgicas de Minas Gerais SA, according to a regulatory filing.
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A U.S. unit of HSBC Holdings Plc agreed today to strengthen a compliance program that federal bank regulators said was ineffective and created “significant potential” for money laundering and terrorist financing.
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Private Equity Management Group Inc.’s court-appointed receiver sued HSBC Holdings Plc ’s U.S. unit, claiming it helped financier Danny Pang defraud Taiwanese investors.
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