Business

New Chairman at HSBC is planning expansion into US after money laundering scandal

HSBC
HSBC / Photo via Daily Mail

Mark Tucker, the new chairman of HSBC, is said to be eyeing US deals. American expansion would be a reversal of the bank’s previous policy, which has seen it cut back its exposure to the US following a Mexican money-laundering scandal and a crisis at its high-risk mortgage lender Household.

MEDIA WARNING Veteran journalist Andrew Neil has called on the Government to block an £11.7 billion takeover of Sky by media tycoon Rupert Murdoch. Neil, who was Sky’s first chairman, told the Competition and Markets Authority: ‘We are in danger of ending up in the situation where nearly all our commercial broadcasters will be foreign-owned.’

FRAUD SPIKE Fraudsters cost the UK economy £190 billion a year, figures from credit checking agency Experian show. The private sector loses £140bn a year from fraud, the public sector £40.3 billion, and individuals are scammed out of £6.8bn a year.

TAKEOVER FEARS Scandal-hit oil firm Petrofac is said to be assembling a crack team of advisers to head off hostile takeover attempts. Bosses fear sharks are circling the company after its share price halved in the wake of a criminal probe over alleged bribes to Monaco-based Unaoil.

HOLIDAY BONANZA Housebuilder Barratt Developments handed £30,000 to its deputy boss when he had to cancel a holiday because of work. Around half the amount went directly to Steven Boyes to refund him for his cancellation, while the rest went on tax payments related to the benefit, sources said.

 

Originally published at Daily Mail

Advertisements
%d bloggers like this: