HSBC Reaches $1.5b Settlement
World Economy

HSBC Reaches $1.5b Settlement

A unit of HSBC Holdings Plc said it will pay $1.575 billion to end a long-running securities fraud class action stemming from the acquisition of the Household International consumer finance business more than a decade ago, Reuters reported. HSBC Finance Corp said the settlement is subject to court approval and expected to result in a roughly $585 million pretax charge in the second quarter, including legal fees and expenses. Having previously disclosed in public filings a potential exposure of up to $3.6 billion, HSBC Finance agreed to pay the amount to settle all claims in Jaffe v. Household International.


Short URL : http://goo.gl/zIlh4v
  1. http://goo.gl/eYw8qr
  • http://goo.gl/7e3B2J
  • http://goo.gl/N2Hf2h
  • http://goo.gl/oh56LF
  • http://goo.gl/PjRsle

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...