British-based banking giant HSBC has announced it will sell 195 retail branches, primarily in upstate New York, to First Niagara Bank for an estimated $1 billion. “As part of its ongoing US strategic focus on commercial and corporate banking, HSBC Bank USA remains committed to serving and further developing corporate banking relationships in Upstate New York,” the company said in a statement. “HSBC... 

HSBC will slash more than 10,000 jobs as part of the global banking giant’s recently announced cost-cutting drive, a report said. Broadcaster Sky News said senior executives at the bank “are close to finalising costs cuts that will result in thousands of jobs being axed across the bank’s sprawling global empire.” The report on Wednesday said London-headquartered HSBC may chop... 

The Ministry of Transport has been told to represent the Government to sign a renewed air transport agreement between Vietnam and the United Kingdom that includes more flights between the two countries. Deputy Prime Minister Hoang Trung Hai last week signed a document to inform the Government’s approval for draft content of the new aviation pact that was discussed and agreed by transport authorities... 

Embattled Rupert Murdoch on Wednesday vowed News Corp. would bounce back from the phone-hacking scandal, saying he would never tolerate such behaviour at his global empire. “I want all of you to know that I have the utmost confidence that we will emerge a stronger company,” he said in a message to staff, seen by AFP. “It will take time for us to rebuild trust and confidence, but... 

Vietnam Airlines has set December 8 as the launch date of its direct flights to the United Kingdom, a fourth gateway in Europe that the national flagship carrier has chosen in its network expansion for the international market. Vietnam Airlines told the Daily on Tuesday that the non-stop flights would be operated from both HCMC and Hanoi to Gatwick, said by the carrier as London’s second busiest... 

Oil prices plummeted Wednesday to below $95 a barrel in New York as investors fretted about fresh signs of weakness in the US economy and tensions in Greece sent the dollar jumping. New York’s main contract, West Texas Intermediate light sweet crude for delivery in July, closed at $94.81 a barrel, shedding $4.56 from Tuesday. The benchmark futures contract sank to $94.01 in intraday trade, its... 

The price of Robusta coffee in the Central Highlands provinces rose by VND500 per kilogramme to more than VND50,000 on June 10. The VND500 VND – or $25 per tonne – was much lower than the price in the London terminal market, coffee buyers in Ho Chi Minh City said. Exporters in Dak Lak Province offered Robusta grade 1at $70 per tonne above the level on the London terminal market. Ho Chi Minh City-based... 

The euro rose against the dollar on Friday after another set of weak US economic indicators but was held back by persistent concerns over a possible Greek debt default, dealers said. The euro climbed to $1.4317 by 2100 GMT from $1.4141 in New York late Thursday. The dollar fell to 80.77 yen from 81.29 yen on Thursday. The dollar began falling on Thursday after a report showed US jobless claims rose... 

Shares opened lower in London on Tuesday as agreements on new loans for Portugal and Ireland failed to inspire European markets. The benchmark FTSE 100 index was down 29.29 points or 0.50 per cent lower at 5,894.20 points at 08:19 am. Policymakers continued their debate on how to rescue debt-swamped eurozone economies, as International Monetary Fund chief Dominique Strauss-Kahn was refused bail by... 

HSBC bank said on Monday that net profits surged 58 per cent to $4.15 billion in the first quarter on lower taxes and bad debts, as the Asia-focused giant prepared to deliver a key strategy review. But Europe’s biggest bank added that its pre-tax gains were pushed down by rises to staff costs and by money set aside to compensate customers in Britain who were mis-sold credit insurance. The group...