Global banking titan HSBC announced that it is to offload its 44 per cent stake in Global Payments Asia-Pacific (GRAP), the card-processing joint venture with partner Global Payments.
GRAP was created in 2006 when HSBC sold a 56% shareholding to Global Payments. The sale of HSBC's 44% stake will see the bank pocket $242m in cash.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
What is a trust – and should you use it to avoid inheritance tax?Trusts are surging in popularity as a way to avoid inheritance tax, according to financial advisers on the frontline of estate planning. We look at what trusts are and if they are right for you.
-
What will be the consequences of Donald Trump’s "One Big Beautiful Bill"?The US president’s "One Big Beautiful Bill", an extraordinary mix of tax cuts and spending plans, has made it through both houses of the US Congress. What will be the consequences?
