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A man walks past the corporate logo for the British Bank HSBC at a branch in central London, Monday, Aug. 2, 2010. (AP Photo/Alastair Grant)
A man walks past the corporate logo for the British Bank HSBC at a branch in central London, Monday, Aug. 2, 2010. (AP Photo/Alastair Grant)Credit ratings agency Moody’s downgraded its ratings of HSBC, Lloyds Bank and Santander’s U.K. divisions on Tuesday, just days after it also cut the British government’s sovereign debt rating.

HSBC was not involved in arranging a recent $6 billion Chinese government dollar bond sale, an unusual move for the U.K.-based financial institution, which has long had strong ties with the country, Bloomberg reported Tuesday.

HSBC’s U.S. subsidiary revealed plans to launch a new managed portfolio that invests in global companies that have a leading presence in the digital innovation space, as the bank looks to help investors take advantage of the sector's accelerated growth due to the global pandemic.

Fifty-five financial institutions including HSBC, Standard Chartered and Crédit Agricole joined a global initiative that awards stamps of approval to companies that meet science-based climate targets in alignment with the Paris Agreement.

Ping An Group, the top shareholder of HSBC, has lifted its stake in the bank to 8% as the U.K. lender continues its pivot to China, a strategy which has drawn scrutiny from Western politicians amid rising political tensions.

Former HSBC Chief Operating Officer Andy Maguire has joined cloud banking technology company Thought Machine as chair of the company’s board, the London-based startup said Wednesday, following the company’s $125 million Series B funding round.

A U.S. federal judge approved an aggregate $187 million settlement agreement resolving an antitrust class action against seven of the world’s largest banks that claimed the banks colluded to misreport and manipulate LIBOR rates, harming eurodollar investors.

The world’s largest banks are better equipped to handle the current crisis than the rest of the sector as a result of regulation and restructuring imposed after the 2008 financial crisis, Moody’s said Thursday.

HSBC has joined Mastercard’s City Possible program to accelerate sustainable urban development, with the companies saying Thursday that they plan to work together to craft an approach to green financing for sustainable projects in “net-zero” cities worldwide.

The U.S. Federal Reserve has corrected stress test results for five of the country’s largest banks after discovering an error in projected trading losses, decreasing the capital requirements for Goldman Sachs and Morgan Stanley as a result.

HSBC’s U.S. unit has appointed an executive who oversaw its first green wealth initiative to lead its wealth management division, showing the U.K.-based bank’s increased commitment to sustainable investing.

The Singaporean Exchange said Tuesday that it completed a pilot digital bond issuance on its digital asset platform with HSBC Singapore and state-owned investor Temasek on behalf of agribusiness company Olam International, representing the first digital syndicated public corporate bond in Asia.

A federal judge in Australia allowed an Australian bank payments consortium to move forward with its case against U.S. payment settlement startup Ripple Labs over the alleged misuse of its registered trademark, according to a court order unveiled Tuesday.

A merger between two U.S. banks will create the largest Black-owned lender in the country, with $1.1 billion in assets, as the financial sector continues efforts to promote more diversity within its upper ranks.

HSBC’s asset management division is providing a big boost to a less prominent segment of sustainable investing — in “natural capital” assets — by partnering with global climate change advisory and investment firm Pollination Group on a series of billion-dollar funds.

Hong Kong’s financial sector is seeing a rebound driven by a surge in fund inflows and initial public offerings, even as the city struggles to shake off the pandemic and controversy surrounding a new China-imposed security law.

Belgian prosecutors have launched an investigation to see if Credit Suisse helped around 2,650 Belgian residents and clients hide their money from tax authorities.

HSBC Global Asset Management launched its fifth exchange traded fund on Thursday with an offering for Asia Ex-Japan, building on a lineup that it initially rolled out in June.

Taiwan plans to continue opening up its economy with the intent of becoming an Asian financial hub, President Tsai Ing-wen said Wednesday, as Hong Kong’s future as a global financial center hangs in the balance because of increased pressure from mainland China.

First Direct, HSBC’s digital bank, will switch its debit cards from Visa to Mastercard as the world’s second-largest payment card firm continues to challenge its rival’s market share in Europe through bank partnerships.