Word: hsbc
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Dates: during 2000-2009
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...over the world, including much of the industrial development of the U.S. after the Civil War.) But the job has become too big for one place to handle. Now Nylonkong, that interconnected tripartite city, greases the wheels of trade and development. This is where the great banks - Citigroup and HSBC, Goldman Sachs and JP Morgan - have their headquarters and their key regional offices; this is where ambitious companies go to seek financing or go public. Hong Kong - whose stock market's capitalization jumped almost fourfold in the 10 years from 1996 - has especially been able to benefit from the business...
...Amro launched a Climate Change and Environment Index in March, tracking stocks in businesses like emissions reduction and water filtration. In April, UBS introduced a global-warming futures index based on the weather in 15 U.S. cities. Merrill Lynch launched an energy-efficiency index in July. And in September HSBC unveiled what it claims is the largest climate-change index to date, tracking the share prices of some 300 companies...
Until recently, this was a specialized niche. But now it "has gone from being the exclusive domain of some clean-tech funds to being a demand of major investors," says Nick Robins, head of the HSBC Climate Change Centre of Excellence. Indeed, buyers today have their pick of hedge funds that focus on rapid-fire trading to corporate pension funds that are required to put some portion of their money in socially responsible investments. Meanwhile, a slew of new mutual funds is selling individual investors on the heady growth prospects of companies in areas like cleaner energy or environmentally friendly...
...surprisingly the big banks - many of them still nursing their wounds from the subprime meltdown - are eager to embrace this new money-spinner. Institutions like ABN Amro, Merrill Lynch and HSBC have all created structured products built around their own indices: protected offerings, for example, that track an index but give a minimum guaranteed return, or leveraged offerings that amplify gains and losses. They can be used to hedge risks presented by global warming, or simply to bet on the likelihood that cash will continue to cascade into the sector...
...challenge the big boys. Most of all, major Asian airlines have much lower costs than their U.S. and European counterparts, allowing them to compete more easily. In Europe, for example, no-frills airlines have costs that are 60% lower than those of the major airlines. HSBC Securities estimates that in Asia the gap can be held...