HSBC to exit consumer finance business in Canada

Share this article and your comments with peers on social media HSBC Financial Corp. Ltd. is winding down its consumer finance business, the subsidiary of HSBC Bank Canada said Wednesday. HSBC says the consumer finance business no longer supports its core businesses and growth strategy in Canada. HSBC Financial is the legacy business of Household International acquired by HSBC in 2003 and already wound down in the United States and the United Kingdom. In Canada it has operated under the separate brand of HSBC Finance on a stand-alone basis from HSBC Bank Canada branches. “This move, while not taken lightly, will allow HSBC to better focus our resources on the core businesses that matter most to our Canadian banking customers,” said Lindsay Gordon, chairman, HSBC Financial, and president and CEO, HSBC Bank Canada, in a release. He added that HSBC tried to sell the business, but “a suitable buyer could not be found.” “The decision will have no impact on HSBC’s banking operations in Canada,” said. HSBC Financial consumer finance offices will cease taking loan applications and will be closed as soon as practical, says HSBC. Initially, approximately 500 employees at 75 offices across Canada will be impacted. The business will continue to service and collect its existing receivable loans and to provide customers with call centre support. There will be no impact on the medium-term notes of HSBC Financial Corp. Ltd. which will be paid on their scheduled maturity in May 2012. IE Staff Companies HSBC Bank Canada Facebook LinkedIn Twitter read more

Ministry to Introduce National Student Registration

first_imgMinistry to Introduce National Student Registration EducationMarch 25, 2010 Advertisements RelatedMinistry to Introduce National Student Registration RelatedMinistry to Introduce National Student Registrationcenter_img RelatedMinistry to Introduce National Student Registration FacebookTwitterWhatsAppEmail Minister of Education, Hon. Andrew Holness, has announced that as part of the Ministry’s drive to engage in more data-driven decision making, it will soon be introducing national student registration.“Within the national student registration, which I will speak more of when we are close to implementation, every student will be assigned a unique account number. And within that account stored in a database, every record of the student will be deposited. So, we will be keeping track of your grades individually,” he explained.He further noted that the information contained on the grid would help the Ministry to make assessments on the progress of every child, ensuring that all children are accounted for when the Ministry makes policy decisions. In addition, he said the information would help the Ministry to determine the productivity of the education dollar spent by the Government.The Minister was speaking at the launch of the United States Agency for International Development (USAID)/Jamaica Basic Education Project, at the Shortwood Practising Primary and Junior High School, in St. Andrew, today (March 24). The project is another being undertaken by the Ministry to transform the education sector.The main goals are: to increase early grade reading fluency; increase acquisition of foundation mathematics skills; strengthen public-private partnership for education; and improve school performance. Shortwood Practising Primary and Junior High School is one of 250 all-age, primary and junior high schools being supported by the project.Mr. Holness thanked all the stakeholders, especially the USAID, for their support of the project. He said the project was particularly important, as all educational gains are hinged on the ability of students to read and that it was important that teaching methods take into consideration the learning abilities of each student.Also speaking at the launch, Mission Director for USAID, Dr. Karen Hilliard, said the United States (US) Government was happy to be partners on the project, and would continue its efforts in Jamaica to ensure literacy among children.“We share your commitment to halt the trend of illiterate children transitioning to high schools, and we will work in concert with the Ministry and its partners to lay the building blocks, by helping students master the basics in the early grades. Only then can they successfully navigate the secondary curriculum and leave with the requisite skills to go on to university or learn a trade,” she said.The USAID/Jamaica Basic Education project builds on the successes of two earlier projects – Expanding Educational Horizons and the Caribbean Centre of Excellence for Teacher Training.last_img read more

Station retail management business to be sold

first_imgITALY: FS Group has selected Altarea Cogedim as the winning bidder for its Centostazioni Retail business, which manages commercial and advertising activities at Milano Porta Garibaldi, Torino Porta Susa, Padova, Roma Ostiense and Napoli Afragola stations.This includes more than 18 000 m2 of retail space at stations used by more than 70 million people/year, with the potential to grow to 26 000 m2 by 2026. ‘We are convinced that through our recognised experience in France in the travel retail sector, we will be able to provide these areas with a new dimension and a new appeal’, said Ludovic Castillo, President of Altarea Commerce, on February 21.The sale is expected to close in March, generating €45m for FS Group in addition to ongoing fees.last_img

Argo Sports Weekly – March 21

first_imgPrint Friendly Version We had a jam-packed edition of Argo Sports Weekly this week. #UWFTennis head coach Derrick Racine talks about his team’s season this far, Andrew Hancock recaps a week at the NCAA Championships with #UWFSwimDive, #UWFWGolf senior Paloma Vaccaro takes us through her school-record 65 at the Bama Beach Bash last weekend, and #UWFSoftball head coach Melissa Paul talks about her team’s season. #GoArgoslast_img