23HSBC-master675 01HSBC Posts 4th-Quarter Loss and Comes Under S.E.C. Scrutiny

 

This is a nytimes.com article.

 

LONDON — HSBC said on Monday that it lost money in the fourth quarter and warned that it was being investigated for hiring candidates with ties to government officials in the Asia-Pacific region.

The lender, which is based in Britain but generates more than half its earnings in Asia, also forecast that slowing economic growth in China would contribute to a “bumpier financial environment.”

For the three months that ended Dec. 31, HSBC, Britain’s largest by assets, posted a loss of $1.33 billion, compared with a profit of $511 million in the fourth quarter of 2014. Before taxes, HSBC posted a loss of $858 million in the final quarter of last year.

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