A Canadian company may have found a way to ship more oil across the U.S. border without becoming enmeshed in the red tape that’s tied up the proposed Keystone XL pipeline -- by relying on a permit it got four decades ago.
HSBC Holdings Plc, Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes.
HSBC Holdings Plc, Europe’s largest bank, posted full-year profit that missed analyst estimates as a cost-cutting drive fell short of targets and revenue shrank. The stock slumped in Hong Kong and London.
Back in the spring of 2012, while walking in the deep woods of northern Ontario, Sonny Gagnon stumbled across a collection of surveying equipment among the towering spruce trees. Gagnon is chief of the Aroland aboriginal tribe, a band of 450 people living in a village of ramshackle houses surrounded by swampy muskeg. He tracks everything that goes on in his community. And the surveying tools weren’t supposed to be there.
HSBC Holdings Plc, Europe’s largest bank, is planning to sell parts of its Swiss private bank as some foreign lenders retreat amid a crackdown on bank secrecy and rising regulatory scrutiny, four people with knowledge of the situation said.