hsbc earnings just raking.et's get out to an edwards for the details. >> this company possibly relieved the focus for the next five minutes is going to be very much on what they can deliver financially. hsbc pretax profit down by 17% in 2014. that's the first headline coming through. broadly unchanged in 2014. four-year reported pretax 18.7 billion against an estimate of 21.5 billion. shares are raising some of the gains they made already in the trading session. it seems the initial reaction is negative. adjusted revenue coming in at $62 billion compared to a forecast of 61 point 854. $18.7 billion. that was against an estimate of 21.5 billion. the number is lower than the estimate. the shares initially started to move lower as a result of these numbers coming out. they were previously a little stronger. capital ratio 10.9%. the ceo saying 2014 profits disappointed. the operators remain in a good position. the stocks falling as much as 1.8% as a result of these numbers hitting the terminal. the company relieved

hsbc so what did the bank say? >> i have a statement, and they point out, there are numerous legitimate reasons for having this, that is certainly true. but they say some individuals took advantage of bank secrecy to hold undeclared accounts although not all of them. but then they go on to say that hsbc has fundamentally changed and there's been a complete overhaul of its private banking service. >> richard many thanks. that was richard billson with the bbc's panorama program. >>> president's president putin has blamed the problem on the west instead of moscow. his comments come as the german chancellor angela merkel heads to washington for talks with president obama, sure to be dominated by the ukraine crisis. she opposes arming ukraine's military, which washington is considering. meanwhile, on the ground, the fighting continues. our correspondent, james reynolds, has been to a town that has just fallen to the rebels. >> reporter: the rebels of eastern ukraine took this town on wednesday after a brutal fight. they

hsbc under political fire. reports earnings in just under 15 minutes time as allegations of facilitating tax evasion continue to heat up. depends negate to 25 kicked off the week extending a high. a record high in london. just 15 points away from the all-time high. futures markets a little bit higher. dax futures up 0.8%. one man with the european market open. it's manus cranny. >> it looks like the devil in the details in terms of what greece gives us for an agreement. we are already seeing one of the oldest political members of cerise -- five reza taking to the internet -- syriza taking to the internet. we have had the best start of the year since 1997. volatility is on the up. v

documents from hsbc showed that the bank held wealthy clients dodge taxes. we will be taking a look at the headlines here in france and in the international press with all of her very best with all of her -- with oliver ferry. a deadly stampede at a football match in egypt. 22 people died and another 25 were injured as they tried to worse the way into a catalyst -- they try to force their way into a cairo stadium sunday evening good the game was open to the public, america rents since -- a rare occurrence since stadium rice left people dead three years ago. the egyptian premier league has been throws found indefinitely. we go to cairo with more on the story. what do we know exactly about what happened back? >> the regime's claim that a large group of ticketholders and indeed not holders, turned up and attended -- attempted to storm the stadium, causing a stampede in which many people suffocated and died. fans say that they were forced into a very small tunnel surrounded by bob dwyer, that we -- surrounded by barbed wire the police incited them and then to gu

now, hsbc secrets are out. it starts with a leak.private bank in switzerland deals with wealthy clients. now we know how. they show widespread tax evasion and a bank prepared to keep dodgers ahead of the law. with assets not declared, we discussed her options. these funds were not declared. >> i think they were a tax avoidance and tax evasion service. because that is what they were. >> stephen green ran hsbc at the time and oversaw the bank that broke the law. the government has seen the damning files but still promoted him as a tory year and made him a minister. -- a torry peer and made him a minister. you are helping people dodge tax. why would you do that? at the time, millions of pounds. the things you were allowing to happen, how can you defend that? hsbc told us it has fundamentally changed its private bank and has far fewer clients. it now puts compliance and tax transparency ahead of profitability. richard dawson, bbc news. >> and a short time ago, i discussed these allegations with the washington bureau chief for the financi

he appointed the man who was head of hsbc as a minister.t was in the public domain in september 2010 that hsbc was enabling tax avoidance on an industrial scale. are we seriously expected to believe that when he made stephen green a minister four months later, he had no idea about these allegations? >> i am glad he has brought up the issue of stephen green, who was a trade minister in this government. this is the same stephen green whom gordon brown appointed as the head of his business advisory council. this is the same stephen green whom labour welcomed as a trade minister into the government. it is the same stephen green whom the shadow business secretary, who is looking a bit coy today, invited on a trade mission as late as 2013. we know what happens. every week he gets more desperate. he cannot talk about the economy and he cannot talk about unemployment, and so he comes here with fiction after fiction. let me deal, while i have a moment, with the fiction we had last week. he came here and, if you remember, he talked about something ca

now, hsbc's secrets are out. it starts with a leak. hsbc's private bank in switzerland deals with wealthy clients. now we know how. the stolen accounts were linked to the newspaper, "la monday." the journalists shared them with "panorama" and "the guardian" and they show widespread tax evasion. he was helped so he can spend the cash without paying tax. i caught up with him at a game. >> was it all about tax? let me ask you a few questions. it's really helpful. were you a signature to that account? >> i don't know what account you're talking about. >> i think you do, sir. >> reporter: thankfully a few weeks later, mr. humphreys remembered that 147,000 pounds had been paid back to the tax man, but only after the files were leaked. then, there's the bank itself. the european savings directive was meant to tax hidden cash but hsbc showed clients how to get around it. the purpose of the new trust is to shelter the funds from the european savings directive. >> i think they were a tax avoidance and tax evasion service. that's what they were o

hsbc india. officials in the u.s.used of helping american citizens with indian origins to evade taxes. that is according to several reports. they assure customers that details of their accounts would not be reported to authorities in the u.s. the u.s. department of justice issued a summons against the bank. >> you're going to change tack and have a look at some of the stories that have been making corporate headlines so far today. >> the u.s. and ministries and has unveiled plans for new rules on drones -- u.s. administration has unveiled plans for new rules on drones. commercial drones must be flown within sight of the operator and away from crowds. the faa says there could be $100 million in economic benefits in the u.s. two companies are joining forces to take on it over. taxi at services -- app services have confirmed a merger. 10 send will be the largest shareholder in the as yet unnamed company. we are expecting more details after the lunar new year. iphones, ipads, iwatches. what about an icar? apple is working

that's a massive miss for hsbc. and this is a week where you've got revelations about the chief exec executive executive's private accounts being through the swiss division. it no allegations of wrong doing, exactly but doesn't look good. there are mp come wednesday. >> the phrase you said he deeply regrets the swiss bank failings. yes, i can understand his point they're facing a tough regulatory environment. but once again a grumbling apology from a bank chief executive. they have no leg to stand on. >> apology after apology from the chief executive, from the chairman. it's laced with these apologies. the cause are full of apologies. talking about the fact that the bank the swiss bank has really reduced and radically changed but if you look at q 4 private banking down 29% but in the year net new money $14 billion. this is a very important division for the bank. >> let's get a banking analyst to weigh in. do you think hsbc will be under a cloud for some time. >> yeah the results look very disappointing. i think what

we found he used his family's hsbc accounts as conduits for the bribes.s show bankers knew tesler was under investigation yet failed to shut down those accounts. none of this would have surfaced had it not been for this man: hervÉ falciani, an hsbc computer security specialist at the geneva, switzerland, branch. he stole the data in 2007. he likes that he's been called the edward snowden of swiss banking. now a fugitive living in france, he says he grew disillusioned with what he saw at hsbc and began to download "proof" of illegal tax evasion: those internal bank files. the information you took was not just names but it was... >> falciani: no. >> whitaker: ...correspondence deposits, deposit numbers, wh... >> falciani: exactly. exactly. >> whitaker: how did you do it? >> falciani: friends, let's say, partners give... gave me these datas. >> whitaker: so, you had accomplices inside the bank. >> falciani: of course. i am not the only person in banking system that wants to raise alarm. >> whitaker: but swiss authorities say falciani acted alone. when they c

>> hsbc has admitted to wrongdoing.n a statement that they acknowledge and are accountable for past compliance and control failures. and that they have taken significant steps over the past several years to implement exit clientsll as who did not meet a strict, new hsbc standards. they -- their subsidiary was not fully integrated when they bought out the bank in 2009. since 2007, they have cut back on their client base by 70% in order to it here to stricter standards. >> who are these clients? whence we have some colorful names. not just all the stars, but royalty, heirs to some of europe's biggest fortunes. we see david bowie in those files, although he has not been related to any of those tax evasion issues. but his name does feature there. king mohammed the sixth of morocco, and several people from his royal family. >> thank you so much for that. you can get more on all of today's top stories at our new digital destination. it is right here, bloomberg business. it brings together the best of bloomberg businessweek, b

y lancheros recogen cargamento en el agua y los almacenan en cajas, vinculan con carteles al banco hsbcentarÁ a quienes puedan beneficiarse de las Órdenes ejecutivas. puerto rico texas tiene nuevos millonarios multimillonarios, se hicieron ricos de la noche a la maÑana al repartirse el gordo del power bowl. ♪ ♪ ♪ >> honduras se ha convertido en una ruta marÍtima clave para el trÁfico de drogas que viene de sudamÉrica, no se limita sÓlo el trÁnsito de los cargamentos por sus aguas sino tambiÉn al almacenamiento de la droga en tierra firme en varios poblados de honduras. >> estas aguas del atlÁntico hondureÑo son testigos mudos de las grandes cantidades de droga que por aquÍ pasan de sudamÉrica a los estados unidos. honduras sea convertido en un almacÉn para esta droga y muchos de los pobladores de esa regiÓn son partÍcipes de los narcotraficantes. >> para los pobladores es mÁs fÁcil hacerse con esa droga, venderla ahÍ, hasta que llega la persona que__ para que viene dirigida. >> a andrÉs quien prefiriÓ ocultar su identidad por cuestiones de seguridad trabajÓ como agente de investigaciÓn

stephen: hsbc is having another bad day. shares in the lender down another 5% after it reported profits sliding by 1/6, pummeled by legal disputes and settlements. they apologized again for the tax dodge scandal. it is a swiss private banking arm. stuart gulliver, himself named by a british newspaper of holding a swiss account. reporter: its reputation has been dragged through the mud and profits are down with it. it announced on monday that its annual pretax profits tumbled 17% last year to $18.7 billion. in a statement, hsbc described 2014 a challenging year and blames the drop on legal fines and settlements. it offered repeated apologies for its swiss subsidiary, which, according to documents leaked earlier this month health, -- helped customers avoid paying taxes through hidden accounts in geneva. >> the recent disclosures about unacceptable behaviors remind us of how much there still is to do and how far societies expectations have changed in terms of banks'responsibilities -- society's expectations have changed in term

hsbc has said that he's done nothing wrong.n "the guardian" did not suggest that he broke the law. but they say the structures were in place for other reasons. he has paid his due, is the message from the company. he said that he paid taxes in hong kong and london. this doesn't end here of course. they will talk to you cap parliament on wednesday about the operations. francine: what a story. thank you, anna edwards. guy: coming up, a shakeup in the u.k. pension market. we will tell you how one of the top wealth management firms plans to simplify personal pensions. francine: just a reminder, you can follow us on twitter. we are back in just a couple minutes. we just found out from a greek spokesman that the greek government hasn't sent a list of measures to the eu. we will go live to athens with erik schatzker. ♪ francine: welcome back to "the pulse." i'm francine lacqua. guy: i'm guy johnson. headlines out of greece and the last few minutes. the kind of financial reforms the country is preparing to submit. let's get the details

hsbc admitted to the wrongdoing. the swiss unit is saying that they acknowledge and are accountable for past compliance and that they have taken significant steps over the past several years to implement reforms as well as throw clients who do not meet strict hsbc standards. what happened, basically, is that the swiss army was not fully integrated into hsbc when they purchased it back in 1999. they say that, since 2007, they cut their client base by 70% in order to adhere to this stricter regulation. >> thank you so much for that. >> headlines out of ubs. trouble with regulators again. investigators are determining whether the bank misled clients over one of its forex products. they have been speaking with several employees to find out if the bank misrepresented prices on currency transactions. the wall street journal saying that u.s. authorities are looking into the hiring of the son of a chinese commerce minister. reports that he was hired despite poor performance in job interviews among other things. no one was ac

hsbc india, officials in the u.s.elping thousands of americans edison of indian origins evade taxes. that they would keep their information secret. the department of justice did summon them against the bank in 2011 to reveal details of clients. overall, they said hsbc have promoted services based on the fact that they would not disclose client details. >> yvonne man, thank you for that. it is crunch time for greece. our next guest believes the odds of compromise are much higher. you'll take a look after the short break. ♪ >> denmark is in shock today after gunmen killed two people in copenhagen. police shot him dead after they fired on him. denmark,he was born in had a criminal record, and was known for gang-related activities. his victims were one person in a cafe and another man at a synagogue. the islamic council has condemned the attacks. the latest cease-fire in ukraine is threatening to unravel after just one day. andgovernment in kiev pro-russian separatists accuse each other of blocking roads between the rebel

they have to show how they have overhauled hsbc.y apologized profusely in public and they put out adverts and full-page spreads in the newspapers saying how sorry they were and how they completely overhauled hsbc. the fact that the swiss units wealth management assets have now dropped by 40%, a fact that some of these key drug cartels will mention to diamond traffickers that the clients are no longer their clients. 2011 is when the claims worked but 106 of the 140 clients are no longer hsbc clients. also look at what he is done they say i sold off all these businesses and i'm streamlining. i personally think this would be far harder for the chairman. because he has been at the bank longer. he was the cfo since 1995. it was him who went on the acquisition spree and brought in parts of the now tried it bank. when they took over republic new york and other holdings in 1999. those units, what about due diligence? he could be the head and unfortunately it will roll in all of this because people want to see a change from the past. manus:

sanctions list. >> shery, thank you very much, with hsbc here. let's move to along to tell you what we have on the other side of the break of the tony abbott managing to hold on to the position of prime minister but it may only be a matter of time until that is under threat again. is that really the case? we will held to melbourne for more when "on the move" returns. >> a look at the headlines, three more bodies have been found from the transasia accident. and they agreed to implement new rules because transasia already published schedules for january and february. the weekend election in new delhi may show nagin is not envinceable at all. sweeping victory for kejriwal. 6-7 surveys say the party is ahead. kejriwal ran delhi for seven weeks before designing when an anti-corruption bill was rejected. he promised to serve a full five-year term this time if he wins. the australian prime minister tony abbott has defeated a leadership challenge and remains in control of the government. a circle spill motion to have the p.m. declared vacant but liberal

let's focus on the hsbc story. it was fascinating, gulliver apologized, but collectively not taking personal responsibility. >> it makes everything seem unaltered as yet. it was two hours grilling with the in p's. both sides got disgruntled and both sides remain relatively haughty at times. this was private banking unit 2005-2007, are the years they were meant to be looking at. data was stolen from hsbc and helped criminals, arms dealers, dimon traffickers evade tax. we are now getting news that apparently untraceable wads of cash were handed over to potential clients and switzerland. what was going on? chief executive stuart gulliver saying this took place in a different era. we have cleaned up and streamlined. he wanted to try to get across the changes he has made. but trying to shift the responsibility to the swiss managers at the time to the relationship managers at the time, even though he was himself finance director of hsbc when all of this was going on. he was the man behind the actual acquisition of some o

he was the boss of hsbc from 2006-2010. during the period covered by the leak.he front page says this is stephen green. the bank boss made a minister by david cameron eight months after the authorities were told about wrongdoing on his watch. genie: the guardian has a profile of stephen green, who emerged from the financial crisis with a reputation as a banker. >> very interesting reputation. in the guardian they talk about the boss, the banker. minister priest. stephen green is an ordained church of england minister. the article describes how he encouraged his image as an ethical banker. in 2009 he published a book called good value reflections on money morality and an uncertain world. he says business leaders should not just behave legally but ethically. going beyond what you can get away with. the guardian's all this means g -- green is going to have awkward questions. genie: guardian focuses on hillary clinton. >> another focus in the guardian. according to the files the charity that is run by hillary clinton and her family received as much as $81 million fr

this comes as very bad pr for hsbc.y have put out statements saying, we've undergone a radical transformation since 2007. they've enforced far more stringent reporting requirements and have numerous initiatives to move on from this. once again, very bad headlines in front of the press. clearly a concern. >> politicians are in front of this one again. let's talk about ubs. >> on friday, there was a story that we ran with investigation over helping americans evade taxes, using what is known as bearer securities. this is after they issued -- settled one issue years ago. today news that the investigation into foreign-currency manipulation -- basically, this is another area of money that potentially they misled clients. the crucial issue is here, what commissions are these banks being paid and did the bankers stand by their legal duty? that's another investigation. >> caroline, stay there for a moment. two banks suffering reputation blows again. another is launching a venture in hopes that it will boost its image. rbs is rep

the old hsbc used to encourage that kind of thing. recovered about $760 million in back taxes and penalties from individuals. i think what's important here tony is these people went and looked for that kind of innocence andassistance and hsbc provided that. the big thing is, you shouldn't ask. >> what else? >> standing to profit from privateization of education. the debate is how much freedom to give charter schools virtue virtual schools and other schools. we've got a great great discussion on that tonight. >> ali good to see you. remember to watch "real money with ali velshi"." about 1400 workser worked off the job this weekend at plants in indiana and ohio. they join about 3800 colleagues in four other states. they say their biggest priority is safer working conditions. they also want higher wages. contract negotiations are set to resume tomorrow. >>> president obama and katie perry, at the grammy awards, plus forrest whittaker and south sudan. sudan. >> al jazeera america is take a closer look at the issue of race in america. it w

caroline hyde. >> hsbc's ceo is offering his sincerest apologies.details about how their swiss units helped customers even a taxes. the bank has absolutely no appetite to do business with clients who are evading their taxes, he said and i have to say, i can't say which newspaper it is, but there it was. it was an apology from gulliver who took over running the company in 2011, and of course this goes back to the employee who stole the information about who has private clients in geneva, and gulliver is saying since 2008, the private bank has been completely overhauled with absolutely no appetite as that showed you, to do business. the swiss private bank, and i think this is the one that jumped out at me, almost 70% of the clients they used to do business with in geneva were no longer. 140 clients, 106 of them are gone. it has fundamentally changed the way it runs the bank. to a certain extent, this is public relations, but it has more into a political snowstorm. >> yes, 79 days to go until an election, and these revelations that british citizens wer

he appointed the man who is head of hsbc as a minister. mr. speaker it was in the public domain in september 2010 that hsbc was enabling tax avoidance on an industrial scale. are we seriously expected to believe that when he makes stephen green of minister he had no idea about these allegations? >> i'm glad he is brought up the issue of stephen green who was the trade minister in this government. this is the same stephen green who gordon brown appointed as the head of his business advisory council. this is the same stephen green who labour welcome as a trade minister into the government. and it is the same stephen green who is a shadow business secretary looking a bit coy today invited on a trade mission as late as 2013. we know what happens, mr. speaker, every week he gets more desperate because he can't talk about the economy, he can't talk about unemployment so he comes here, he comes here with fiction after fiction. let me deal while i have a moment with the fiction with last week. he came here, and if you remember he talked about somethin

hsbc will be questioned by british m.p.'er the tax evasion scandal that has engulfs the swiss arm of europe's biggest bank. he will appear at 2:15 london time to answer requests about all of this. looking forward to that conversation. >> mark, there are so many questions. when they are going to get grilled, they are going to basically try and understand what the people in charge were doing at the time and what they have done since. if this has been corrected, hsbc has said sorry numerous times. are they going to say sorry again? how do they explain c.e.o. having a bank account in switzerland? >> have i talked with him several times. his big concern is banking culture. that is what he is going to be focusing on. these revelations suggest that the biggest bank of europe it is in every scandal the u.k. has to mention. it has put aside billions of pounds for the scandal, for foreign exchange rigging. it can't move without finding itself in trouble. the finance director while all of this was going on in the swiss banking industry

thank you so much, manus cranny with the latest on hsbc.verhaul of tesco, 10,000 jobs are to go. with an update of the changes is caroline hyde and the changes and the new ceo has come in abba, clearer. >> drastic cuts, he promised to save 250 million pounds per year and cutting expenses some 30%. of course, how do you do that? jobs have to go. as the reported in "the telegraph," 10,000 jobs have to go. some are perhaps expected to the closure -- related to the closure of head offices and 43 store closures. an additional 4000 jobs are to go and what seems to be a real change of management at tesco. they are removing an entire label of management and stripping out current employees that exist in a between store manager and shop assistant. we understand those who will be losing their jobs we do not know if they will be on the same basis in terms of pay. all of this, in tandem with consultation period that they kicked off in january when we started to hear the outline by of course the man dubbed a drastic day. he made cuts sweeping cuts at uni

when we look at the kind of allegations that came out about hsbc over the last week or so. it's been known for some years there was tax evasions at hsbc may have been involved in that. the perhaps more serious allegations of laundering of money and laundering of profits and illegal trade in weapons and diamonds and drugs, now, this will cause great concern to geneva investigators. the fact is switzerland had a very strict law about money laundering since about the year 2000. the suggestion that kind of thing is going on in geneva a hub porefor private banking in 2007 will have rung alarm bells at the highest levels of the financial financials. >>> greece looking for more money today. >> we're expecting greece to propose something, perhaps a new proposal on the table. we're still waiting for someone to blink, basically. it's officials meet today to decide whether to provide emergency funding for those greek banks the so-called liquidity assistance. the banks are running out of money as hundreds of euros are withdrawn daily and greece's creditors want the new banks to sign th

and the hsbc is not off the hook on tax evasion, the tax division has been investing hsbc for several years and that investigation continues, liz? >> well, listen, when the rest of us are paying their taxes, it's not cool to see that, but there are whistleblowers out there. very interesting to see what it revealed. rich, thank you very much. we've got the closing bell ringing in 50 minutes and we're halfway through earnings season. listen to our next guest, just a couple of weeks ago she was on. she made all kinds of predictions and really, she made three predictions. boy, had you listened and moved on her news, she could have made-- you could have made a pretty penny investing in the sectors she predicted would do well. which companies does christine say will knock it out of the park next. and the golden boy of boxing, and promotion sets his sights on his own tv channel. oscar de la hoya goes from boxer to business man. how he's made a foray into fight tv. keep it here for the fox business exclusive. ♪ why don't you hit me with your best shot ♪ >> hit me with your best shot, fire awa

story revealed since the pub publication of the reports the paper has been on pause and hsbc is a biglayer in advertising market and figures indicate they spent 5.1 million pounds across print titles in the first eight months of 2014. in the philippines a radio host has been shot and killed the second journalist to be murdered there this year. the host of a program called chairman now on board which aired daily and in his broadcast he was known to take on local officials with links to the drugs trade, on the morning of february 14 as he was getting into work he was shot in the head by a gunman who fled on a motor bike and local authorities said sisi tv footage from site of attack said the murderer was a professional hit man and investigation underway but in the philippines chances of the case being solved are slim and media freedom and responsibility 26 journalists killed in the country since 2010 when the president came into office despite his pledge to intensify efforts to prosecute crimes against media and especially murders of journalist only two cases have seen resolution since 2

. >> hsbc is struggling against claims of tax evasion. the ceo itself under fire for having his own account. >> hsbc is saying there is ceo sir oliver didn't do anything wrong and he actually paid taxes after setting up the swiss account. the bank was reacting to an article and "the guardian" and said the ceo is the owner of an anonymous company registered in panama. back in 2007, it had over $7.5 million. it was through the entity that hsbc's bonuses were paid. the bank as saying oliver paid hong kong taxes on the bonuses there and when he moved to the u.k. he paid taxes on u.k. texas since then. why was he using a panamanian account? they said it was because the confidentiality and yet no other advantages and cracks earnings are out in the u.k. and could probably not come at a worse time. what can we expect? >> even if the allegations of gulliver's -- he actually did it carry out -- you didn't carry out any wrongdoing, hsbc has been hit by laws and loss and scandal. litigation cost are expected to dominate. we are expected to see a 7% d

but is hsbc the only bank to have behaved in this way? >> absolutely nobody thinks this is an issue confined to hsbc. there will be bankers all over the world who will be thinking to themselves, thank goodness the spotlight is not on us. it is worried very similar sorts will be revealed. >> still ahead on the program a lull in fighting in the ukraine but now the russian president is willing to cut off the gas supply. and in argentina forest fires are ranging across thousands of hectares. >> i'm wayne hay reporting from new zealand where a teenage golfing record breaker has returned home to celebrate her success. >> you're watching the al jazeera news hour. the islamic state in iraq and the levant has kidnapped more than 100 men and nine boys in iraq. they belong to the one of the biggest tribes in the country. >>> houthi rebels have used live ammunition and tear gas to disperse demonstrators in sanaa. more than 100 people have died in afghanistan after avalanches have buried schools homes and mosquess in afghanistan. >>> russian president

the swiss public prosecuteor has launched an inquiry of money laundering at hsbc.it follows allegations that hsbc swiss subsidiary helped its welty clients to wealthy clients, and it is now under official scrutiny in inference u.s. andering. it's based on information leaked by a former hsbc employee, who said he first alerted the t authorities back in 2008. >>> chelsea football club is appealing for information an after some of its fans were filmed stopping a black man from boarding a paris underground train. it happened before the english premiere league club played in the champions league tuesday night. we have reports now from paris. >> a black man tries to board a perries metro plane and is repeatedly cut off by fans of the english football club chelsea. the british man who filmed the scene at the station said that people around him could not believe what they were seeing, but what happened next was perhaps even more shocking. the morning after chelsea's champions league match we managed to get a reaction from some fans heading home to london. >> we're disappoi

today's hsbc revelations cover the period 2005-07.ly when stephen green was in charge. >> woodruff: u.s. regulators fined hsbc in 2012 for letting criminals use its branches for money laundering. >> ifill: stocks sank again across europe today after the new leader of greece vowed to stick by his anti-austerity plans. alexis tsipras insisted last night his government will not accept an extension of current bailout terms. in turn, german chancellor merkel said greece must have a sustainable plan to pay its debt if it wants to stay in the euro- zone. >> woodruff: worries about dprees helped weigh down wall street today. the dow jones industrial average lost 90 to close near $17,700. the nasdaq fell 18 points on the day and the the s&p slid 8 points. >> ifill: the number two official at the secret service has been forced out. the agency announced today that deputy director alvin a.t. smith will resign and take another job in the homeland security department. it's the latest shakeup at the secret service after a series of breaches in presi

it has been devastating for hsbc and we have a huge challenge.cs out what -- >> outlined how hard it done employees have filled it and how hard they are and they do not recognize the hsbc being put in the spotlight. that is why the chairman is trying to say i+++ anywhere responsible and it doesn't feel like what i am associated with. he will not be taking his bonus. he has not taken a bonuses 2010. what is interesting is what shareholders will demand. canada ceo -- can the chairman still remain chairman? he is at the moment trying to explain why he himself has stepped up back as well. >> chaos at hsbc. chaos in ukrainian current see. introducing it and i will explain after the break. ♪ >> good morning and welcome back. 30 minutes into the trading session. as i speak, the ftse 100, up by 7 points. the dax, north of 11,000 points. plenty of storage inside those indices. let's get to the top stock stories with caroline hyde. >> we are going to be going to one of the top performers today on the back of news. change at the top. standard chartered trad

they allegedly show hsbc's private swiss bank helped wealthy clients shield millions of dollars. "60 minutes" contains 4,000 people with connections to the united states. >> under u.s. law any bank that does that, that assists a u.s. person in evading u.s. tax is guilty of a felony. >> hsbc acknowledged to "60 minutes" it's been used to evade taxes in the past but they've undergone a radical transformation since 2008 and will no longer assist customers suspected of evading taxes. you can see the full report and learnmore about the story on how those files were leaked online at cbsnews.com. >>> stocks on wall street opened this morning following a blockbuster week. despite a down day on friday, the dow gained 658 points for the week. that is the biggest weekly percentage gain in two years. the s&p finished the week 60 points higher, and the nasdaq gained 106 points. >>> well, no surprise to drivers, the price of gas is going up. the average price of a regular gallon jumped 13 cents in the past two weeks to $2.20. that's still $1.10 a gallon lower than it was a year ago. >>> and, l

>> it will be a tough year, and even tougher month for hsbc.s are expecting profits to fall. 3% fall over for the year 2014. they say earnings being eaten away by operating costs there. as the ceo trying to make a clean break from what has been going on the past month there. they can't quite escape the past. new details on how they help clients dodge taxes in the swiss private bank, saying sorry, this is a painful experience for us but we are trying to change how we do business for the company. that comes after a nearly $2 billion fine in a latin american unit after helping drug curled tails -- cartels there launder money. cut to 70% of accounts from the swiss unit, spending billions on compliance. are expecting to hear a lot from this conference call after earnings come out today. they are facing pressure from the treasury about bonuses for the year. we learned from sources and reports say that gulliver may be unaffected from these swiss allegations, expected to get $2 million in bonuses this year, 11.5 million dollars total compensation. agai

it's an embarrassment for hsbc. i think they settled with the d.o.j. back to the tune of about $1.92 billion. it is doing the circuit again, as a lot of the news organizations point out some of the new information from that leak from the swiss operation of hsbc. back to you. >> really crafty those details come out to expose. before we let you go not so good news for drivers out there this morning when it comes to gas prices. we watched the trend where they've been going down. but that's the latest? >> yeah. we've seen prices just jump about 13 cents here. but let's not get too carried away with this. we had very weak chinese data over the weekend, which is starting to undermine some of the firmness that we've seen back in the crude oil price. i think these lower gas prices are here to stay. i wanted to have a look at the headlines, though, on the highest and the lowest. tucson is the cheapest place to fill up your car. $1.82 right now. and if you want to pay big, san francisco. that's where it's expensive. $2.59. that's a huge spread. somebody's making

still to come here on worldwide exchange, hsbc in the hot seat.he lender faces up to questions and u.k. parliament over the swiss bank. we're live after the short break. >>> welcome back. let's give you some headlines. the federally is short lived. u.s. futures point lower a day after the s&p and dow hit record highs. you crane will not run out of money. the country's finance minister tells cnbc. plus hp and dreamworks weigh on shares after hours. >> let's talk about the financial sector. bank of new york melon in focus. it's in talks to settle claims that it defrauded clients in transactions. last week the company said it would take nearly $600 million charge as it sought litigation. it faced several charges over misleading customers for certain dealsment take a look at shares down about 1% in frankfurt. >> the top boxes in the u.k. tax collection department will be grilled in the wake of the swiss scandal. let's get out live to catherine out side of westminster. >> good morning, it's going to be a pretty tough day for a hsbc chairman douglas fli

first, hsbc, one of britain's largest financial institution a spot of sticky pudding a couple of years ago after the bank was caught laundering nearly $1 billion in drug money. you heard the gasp. ( laughter ) what? what's that? and like in most cases of drug cartel money laundering, the perpetrators were sent straight to pay a fine. ( laughter ) case closed. >> british bank hsbc is under fire again. the company's swiss banking arm is accused of helping clients hide billions of assets from international tax authorities before 2007. >> jon: still breaking the ( bleep ) laws. i know you're british but "keep calm and carry on" wasn't meant for major financial crimes. of think you can hide in switzerland? you should have known, where there's cheese there's a rat. >> none of this would have surfaced had it not been for this man, herve falciani, an hsbc computer security specialist at the geneva, switzerland branch. ( laughter ) >> jon: falciani is a computer specialist. with a face like that, he'll have to install a firewall, in my heart. but good on him! the whistleblower falciani has done

myriad amounts of clients working on the swiss side of hsbc and the drug cartels and terror suspects are not good headlines. some pricing issues and traffic is up. pricing is under pressure. >> great work. we are opening lower. the ftse is off and it is all about greece once again. the minister reaffirmed the rejection of the bailout program before the emergency meeting of finance ministers. really digging in. we are joined now from aphids and let's get the top line. my take away was that this was an uncompromising speech. was that the takeaway and greece? >> yes. the area he did not emphasize very much was the subject of debt and he did not address that at length. beyond that, it was a reiteration of a lot of campaign pledging and the line was, a lot of people are saying that we are toning it down and tacking down. we are for real. all of this that we said that we were going to do we really mean it. the last few days, a lot of digging in and rejection of the bridge program that greece was asking for. we saw there was a lot of digging in and -- >> given that, we look at what is comin

>> hsbc says sorry over tax evasion and a second apology may be needed. we will have the latest. is apple going mobile? they are road testing a new idea with tesla in the firing line. shedding light on the lunar new year. we will illuminate the skyline in asia edge. >> we are looking at smog. i am watching the markets for you. it is a short week and they are closed for the new year. asia will be closed. it is still busy and we will get you more on that in just a bit. out of recession. we have a revision and the shanghai deposit. it is up for a third straight day for the overall benchmark. the numbers are better asked -- better than expected. that is what we have across the region. we leave it there. act to you. >> greece and creditors have been holding phone calls and the time it takes down to a crucial gathering of finance ministers. the creditors are following a drama and we have some signs of these solidification. but the clock is ticking and there are 12 days. that is the background. we have the friday meeting and the official finance minister meeting. that is important. they

my question is this, hsbc as a recent history of major u.s. sanctions and money laundering violations. they now face these new charges of facilitating tax evasion, summarize, if you wilkes for the committee what the fed has done with respect to hsbc to pursue these tax evasion allegations, what conclusions you may have reached regarding their responsibility for their activities and what steps you're taking with other federal officials to pursue these matters? >> okay well, first of all, again, i can't really speak to the specific matter that is under investigation but i can tell you that with respect to hsbc, we have three -- we've entered into three normal enforcement actions consent cease and desist orders and those relate to bank secrecy and aml compliance, there is one related to mortgage servicing activities and one related to compliance risk management in general. so we have been obviously working on issues with the firm related to compliance generally. i will say that in any situation where there's an investigation if we -- if we have e