The data was stolen by a former information technology employee about three years ago, the Geneva-based unit of HSBC said today in a statement. French authorities, which seized the data, have told their Swiss counterparts that they wont use the information “inappropriately,” the bank said.
“The bank does not believe that the stolen data has or will allow any third party to access any client account,” HSBC said in the statement. The accounts were all opened before October 2006, the bank said.
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As many as 10 wineries and vineyards in Napa will change hands in distressed sales or foreclosures this year and next, up from none in 2008, according to Silicon Valley Bank. In a bank survey of vintners, 7 percent called their finances “very weak” or “on life support.”
“We have 250 vintner clients saying this downturn is the worst in 20 years,” Bill Stevens, manager of the banks wine division in St. Helena, California, said in an interview. “Anybody who was late to the party wont have - - - - >

The FDIC was unable to find buyers for two banks — Centennial Bank in Ogden, Utah, and Waterfield Bank of Germantown, Maryland — according to statements posted on the agencys Web site. In the largest of yesterdays failures by assets, Boca Raton, Florida-based Sun American Bank was purchased by First-Citizens Bank & Trust Co.
“South Florida is a great market for our company, especially with our focus on individuals, small- to mid-sized businesses and the medical community,” Frank B. Holding Jr., chief executive officer of First-Citizens, said - - - - >

Barclays Capital, the investment-banking unit of Barclays Plc, increased its pay and bonuses per employee by about 93 percent in 2009, according to company filings. Royal Bank of Scotland Group Plc, the U.K.s biggest government-owned bank, raised total compensation per employee by about 73 percent last year. Of the U.K.s three largest banks, HSBC Holdings Plc was the only one where pay declined slightly in its investment bank.
“The banks are just paying lip-service to what they think politicians and the public want to hear while carrying - - - - >

Pandit agreed in February 2009 that he would only take a $1 salary for the year after the bank was forced to take billions in federal bailout money. But he had already received $125,000 in salary before making that announcement, according to a filing with the Securities and Exchange Commission. He received no bonus or stock awards.
His only other compensation was $3,750 in 401(k) benefits.
Pandits 2008 compensation package was valued at $38.2 million. However, almost all of that package was made up of restricted stock and stock options that are worth far less today.
Citigroups shares rose a penny to close - - - - >

Small businesses are seen as a linchpin for the recovery, with the potential to expand and soak up some of the high unemployment that has ravaged the country and preoccupied Congress.
At the same time losses are mounting on loans for commercial real estate, such as stores and office complexes, as buildings sit vacant and builders default. A cascade of hundreds of billions in losses on the loans could deepen the hurt for regional banks and quicken the pace of bank failures - which reached 140 last year.
Two House committees, Small Business and Financial Services, are hearing Friday from federal regulators, - - - - >

The bailed-out bank made a pretax loss of 6.3 billion pounds, however, worse than analysts consensus forecast of 6.1 billion pounds.
For the year ending Dec. 31, the pretax loss narrowed from 6.7 billion pounds in 2008 before Lloyds TSB took over Halifax/Bank of Scotland in January 2009. All the comparisons assume that the businesses were combined in 2008.
Total impairments, largely inherited from HBOS, rose from 14.9 billion pounds to 24 billion pounds.
“We believe the groups overall impairment charge has now peaked, with a significant reduction expected in 2010,” said Group Finance Director Tim Tookey.
Total income, net of insurance claims, rose - - - - >

Employees who amass at least 10 million francs of “net new money” in 2010 will get a minimum 0.1 percent of the amount, while those who bring in at least 50 million francs will get 0.05 percent or more of what they generate, according to an internal document obtained by Bloomberg News. UBS capped the maximum award at 200,000 francs. The document didnt say what the previous cap was.
UBS this month posted its first quarterly profit in more than a year even as withdrawals by rich - - - - >

Lloydss pretax loss narrowed to 6.3 billion pounds ($9.6 billion) from 6.7 billion pounds in 2008, the London-based bank said in a statement today. That missed the 6.1 billion-pound median loss estimated by 22 analysts surveyed by Bloomberg. Lloyds fell in London trading.
Bad loan losses were “significantly higher” at 24 billion pounds, the lender said today. They declined 21 percent in the second half compared with the first six months.
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The phone company may buy 2.2 billion Pudong Bank shares for 17.82 yuan each, the broker said in the note, which didnt specify whether its referring to the listed phone carrier or the parent. Thats 14 percent lower than Pudong Banks price before it was halted from trading today pending the announcement of strategic investors. Gao Xia, a Shanghai-based spokeswoman at the bank, declined to comment. China Mobile spokeswoman Rainie Lei said she couldnt immediately comment.
An investment may give the worlds largest phone - - - - >