Financial Services

Hong Kong acts as a gateway for funds going into and out of China, but is increasingly important in its own right

Economists yesterday forecast months of intensifying pain in the economy as a survey showed manufacturers were pessimistic about orders but intent on raising prices…

The carmaker’s financing arm renegotiated nearly all of a critical line of capital, enabling it to continue offering discounts and other perks to finance vehicle purchases

Citigroup was accused of destroying records subpoeaned by Andrew Cuomo, the New York attorney-general, who has threatened to imminently sue the investment bank for its role in the collapsed market for auction-rate securities

The Federal Deposit Insurance Corporation revealed that it had issued warnings to four small US banks that lacked sufficient reserves to cover potential loan losses

US insurer’s offer likely to be pitched below the £7bn price tag attached to the insurance businesses when they were put on the block in April

Former building society reports interim profits of £1.8m against £290m last time after profit was wiped out by the writedowns

The London Stock Exchange unveiled a fundamental shift in its tariff structure, cutting some fees and introducing incentives for liquidity providers in a bid to attract the fast-growing community of algorithmic traders

Main issue in negotiations is price, with the situation being further complicated by the difficult funding environment for private equity deals

Shares in Ambac Financial, the troubled bond insurer, surged after it agreed to pay Citigroup $850m in exchange for wiping out a guarantee Ambac had made on $1.4bn of collateralised debt