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Exclusive-HSBC to improve ties with Hong Kong unit Hang Seng to mitigate risk, say sources

HSBC plans to tighten risk management at Hong Kong unit Hang Seng Bank due to worries about a potential rise in bad loans amid growing economic headwinds and property sector crisis in China, said two people with knowledge of the matter. Hang Seng's top executives will be more closely involved in its parent's Asia-Pacific risk management discussions regarding corporate, retail, wealth and private banking, the people said. The initiative comes as HSBC's pivot toward Asia coincides...
Hong Kong Christopher Cushing Asia Pacific Sumeet Chatterjee Noel Quinn Selena Li
Source: yahoo.com

Pfizer agrees to pay $93 million to settle Lipitor antitrust lawsuit

Pfizer has agreed to pay $93 million to settle antitrust claims by wholesale drug distributors that accused it of conspiring with India's Ranbaxy Laboratories to delay sales of less expensive, generic versions of the cholesterol drug Lipitor. Attorneys for Lipitor purchasers including Rochester Drug Co-Operative Inc and Puerto Rico's Drogueria Betances LLC disclosed the agreement in a filing on Wednesday in U.S. court in Trenton, New Jersey. The distributors' case will continue ...
New Jersey United States Christopher Cushing Sun Pharma Mike Scarcella Puerto Rico Drogueria Betances
Source: yahoo.com

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