hsbc

HSBC has announced it will take responsibility for all customers mis-sold investment products by NHFA, a care fees advice business it acquired in 2005.

As the eurozone crisis reaches a crescendo, the Bank of England has revealed just how much exposure UK banks have to the region's most troubled economies.

The FSA has fined HSBC £10.5m for inappropriate investment advice provided by one of its subsidiaries, NHFA Limited (NHFA), to elderly customers.

Standard & Poor's has downgraded a raft of US and UK banks including HSBC, Barclays, and Goldman Sachs following an overhaul of its ratings criteria.

Thomas Cook shares jumped 47% on Thursday in anticipation of an announcement the travel giant has secured the £100m loan it needs to avoid going bust.

ETFs

Shares in HSBC were down over 5% mid-morning after a trading update revealed underlying pre-tax profits fell from $4.6bn (£2.86bn) in Q3 2010 to $3bn for the same period this year.

ON ASIA

HSBC slashes target prices for many large UK-listed groups, claiming the sector is not ‘uniformly good value'

Investors could be faced with a plethora of fund charging models post-RDR as well as higher overall costs and ‘premium' prices for a top tier of better performing funds or specialist mandates.