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Stephen Green

Former HSBC chairman steps down from City lobby group after leaks

A former boss of HSBC, Stephen Green, has stepped down from his position with a financial services lobby group after allegations that the bank helped people dodge taxes.

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HSBC admits Swiss bank failings over client taxes

British bank HSBC Holdings Plc (HSBA.L) admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets.

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Chinese factory

China factory sector jolts by shrinking in January

China's factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January and firms see more gloom ahead, an official survey showed, raising expectations that policymakers will take more action to forestall a sharper slowdown.

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President Dilma Rousseff of Brazil

Brazil risks recession as central bank bucks global trend, raises rate

Brazilian President Dilma Rousseff's crusade to win back investor confidence has entrusted policymakers with the tough mission of hiking interest rates while major central banks cut them, raising the prospect of another recession in Latin America's biggest economy.

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Asia equities surge on ECB boost, euro near 11-year low

Asian stocks extended a global rally on Friday after the European Central Bank launched a landmark bond-buying stimulus program that buoyed investors' risk appetite, drove bonds higher and kept the euro pinned near 11-year lows.

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Brazil's BM&F Bovespa Stock Exchange

Brazil's industrial output drops unexpectedly in November

Brazilian industrial output took an unexpected step backward in November as production of durable goods declined sharply, further damping hopes of a recovery in the long-beleaguered sector.

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Factory worker

China December HSBC services PMI at three-month high, more stimulus still seen

China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens.

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Greece Flag

Investors see Greek upheaval ring-fenced from rest of euro zone

Greece's future in the euro zone may hang in the balance once more, but investors believe the market fallout from any current political turbulence can be insulated, unlike during the region's sovereign debt crisis of 2012.

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Currency signs

World set to end year in brittle economic state

The global economy is ending the year in a fragile state with factory activity shrinking in China, euro zone business growth remaining weak, and emerging market giant Russia in a spiraling currency crisis.

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Factory worker

Growth in China's services sector quickens in November but outlook still worrying

China's services sector grew slightly faster in November, two surveys showed on Wednesday, a welcome respite to a run of underwhelming data but still unlikely to allay concerns about the softening Chinese economy.

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Factory worker

China November PMIs show economy cooling, argue for more stimulus

Growth in China's manufacturing sector slowed in November, suggesting the world's second-largest economy is still losing momentum and adding pressure on authorities to ramp up stimulus measures after unexpectedly cutting interest rates last month.

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China Car Factory

Factory growth ebbs in Europe & Asia, making case for more stimulus

Factories across Asia and the euro zone reported a general loss of momentum last month that speaks volumes about the need for more policy stimulus on top of Japan's latest efforts to ignite growth.

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Automobile factory

Business activity improves in China, euro zone but little sign of turnaround

Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster but there were worrying signs that the upturn could be short-lived.

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China services sector growth weakens slightly in September: HSBC PMI

Growth in China's services sector weakened slightly in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy that could prompt more stimulus measures.

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Shanghai Stock Market

Asia shares buckle beneath global growth woes

Asian stocks slid on Wednesday as worries about waning global growth lifted safe-haven bonds and the yen, while shoving oil prices to their lowest in more than two years.

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