HSBC pares back in U.S.: U.K. bank to shutter subprime-loan unit; tightening standards

Article Abstract:

British bank HSBC Holdings PLC has decided to close Decision One Mortgage, its home loan division in the US, in response to turbulence in the subprime lending and credit sectors. Decision One has operations in Arizona and the Carolinas; approximately 750 jobs will be cut.

United States, Plant shutdown, United Kingdom, Economic aspects, International aspects, Influence, HSBC Holdings PLC, Downsizing, Facility closures, Subprime loans

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GM, Ford alliance talks mark auto-industry shift; aborted discussions reflect inroads by foreign firms, pressure from shareholders

Article Abstract:

Although Ford Motor Co. and General Motors Corp. have abandoned talks of a partnership, such discussions show the current state of the automobile industry. The companies will instead focus on their own restructuring.

Alliances, partnerships, Motor Vehicles and Equipment, General Motors Corp., GM, Ford Motor Co., Transportation equipment industry, F, Alliances and partnerships, Automotive industry

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Citigroup likely to propose cuts of 15,000 jobs

Article Abstract:

Citigroup Inc. of the United States is planning a restructuring that may include 15,000 job cuts with a loss of $1 billion. Charles Prince of the financial services group is orchestrating management changes.

Human resource management, Company personnel management, Citigroup Inc., C, Company overview, Financial report

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