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HSBC to seek investor OK to sell 'CoCo' bonds

By Steve Slater LONDON (Reuters) - HSBC <HSBA.L> is to ask its shareholders for permission to sell bonds that would convert into shares and bolster its capital if it hits trouble, giving it the option to join a growing group of banks issuing the securities. More banks are selling the contingent capital securities (CCS), dubbed "CoCos", which convert into shares in certain circumstances, such as if the capital level falls below a certain level.

HSBC China manufacturing index hits eight-month low

Chinese manufacturing activity contracted in March to its weakest rate in eight months, data showed Monday, the latest indication that the world's number two economy is slowing down. HSBC's preliminary purchasing managers' index (PMI), which tracks manufacturing activity in China's factories and workshops, fell to 48.1 from a final reading of 48.5 in February, the British bank said in a statement.

Traders blame HSBC's brief share spike on 'fat finger'

LONDON (Reuters) - Shares in HSBC <HSBA.L> briefly spiked as much as 10 percent on Thursday, before reversing most of those gains in a move which traders blamed on human error, know in the market as a 'fat finger'. HSBC shares rose as high as 688 pence before retreating to 631 pence. The move in the heavyweight bank also prompted a spike in Britain's FTSE 100 <.FTSE>, which briefly turned positive on the day. HSBC declined to comment on the move.

Emerging markets' output growth slows in December-HSBC

LONDON (Reuters) - Business activity in emerging markets expanded at a lower rate in December, hit particularly by a slowdown in service sector growth, a survey showed on Tuesday. The composite HSBC emerging markets index of manufacturing and services purchasing managers' surveys fell to 51.6 in December from 52.1 in November. But the index remained firmly above the 50 threshold which denotes expansion.

HSBC mulls spin-off of British division

Global banking giant HSBC is mulling a possible flotation of its British division, the Financial Times reported on Monday, citing people familiar with the matter. The Asia-focused lender has approached investors in recenty weeks to establish whether they would support the sale of a "sizeable stake" in the British arm, the daily paper added.

China services industry growth steady in November: HSBC PMI

BEIJING (Reuters) - China's services industry grew at a steady pace in November, a private survey showed on Wednesday, a further indication of strength in the world's second-largest economy as the government embarks on a sweeping restructuring drive. The HSBC/Markit services PMI stood at 52.5 in November, little changed from October's 52.6 and above the 50 line that separates expansion from contraction. On Tuesday a government PMI survey of the services industry showed growth holding near a one-year high.

Emerging output growth at seven-month high in October: HSBC survey

LONDON (Reuters) - Output growth across emerging markets picked up in October, posting the fastest rise in seven months, while business expectations also rose from the previous month's near-record lows, a survey showed on Thursday. The composite HSBC Emerging Markets index for services and manufacturing rose to 51.7 from 50.7 in September, driven by the strongest rally in Chinese goods exports for 11 months.

China services industry growth picks up in October - HSBC PMI

BEIJING (Reuters) - Growth in China's services industry edged up in October, a private survey showed on Tuesday, offering further indications that the economy has stabilized in the run up to a key party reform meeting. The Markit/HSBC services PMI rose to 52.6 from September's 52.4, well above the 50 line that separates expansion from contraction.

HSBC dragged into forex probe, reveals profits jump

A worldwide probe into suspected rigging of foreign exchange deals has reached Europe's biggest bank HSBC, the bank revealed on Monday when it also announced a jump in quarterly profits. The London-based bank said in its earnings statement that British regulator, the Financial Conduct Authority, is conducting investigations alongside several other global agencies into a number of firms, including HSBC, "relating to trading on the foreign exchange market". HSBC added that it was "cooperating with the investigations which are at an early stage".

Global trade in infrastructure goods to surge: HSBC

LONDON (Reuters) - Trade in goods to build infrastructure such as ports, railways and power stations will rise sharply over the next two decades as developing economies climb the value ladder and rich nations keep investing to maintain their competitive advantage, HSBC said on Tuesday. The bank forecast that infrastructure-related trade will grow by 9 percent a year between now and 2030. Demand will be driven by, among other factors, the rising consumption of Asia's fast-growing middle class.
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