HSBC Subscribes For New Shares In Hana HSBC Life - Quick Facts

Reports: HSBC Could Announce More Job Cuts

HSBC Holdings Q1 Profit Surges

HSBC Finance Swings To Profit In Q1

HSBC USA Q1 Pre-tax Profit From Cont. Opns Rises - Quick Facts

Trade HBC now with

8/28/2012 2:39 AM ET

HSBC Insurance (Asia-Pacific) Holdings Ltd., a wholly-owned unit of HSBC Holdings plc (HBC: Quote,HSBA.L), has subscribed for new shares in Hana HSBC Life Insurance Company Ltd. The subscription of KRW25 billion or about $22 million was funded in cash from internal resources.

Hana HSBC Life was established in 2008 as a life insurance joint venture between Hana Financial Group Inc. (50% plus one share) and HSBC Insurance (50% less one share).

The company noted that the interests of both joint venture partners in Hana HSBC Life remain the same as Hana Financial Group has also subscribed for an equivalent proportion of new shares.

Click here to receive FREE breaking news email alerts for HSBC Holdings PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 165 Articles Next>>

Editors Pick

Fed Concerns Contribute To Lackluster Session On Wall Street - U.S. Commentary

There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses.

Stocks Come Under Pressure Amid Worries About The Fed - U.S. Commentary

Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session.

U.S. Durable Goods Orders Rise 3.3% In April, More Than Expected

After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.