Financial Business Recap: HSBC In TALKS With US Authorities, Berkshire COMPETING With Nationstar

HSBC Holdings PLC (NYSE:HBC) at present is in discussions with United States authorities regarding a resolution of charges that it violated U.S. statutes through its business with certain banned countries, according to Bloomberg. The firm has already set aside $700 million in reserves as needed for any penalties arising from the matter.

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Residential Capital LLC has requested another 9 months in which to file a plan for bankruptcy, from the present deadline of September 11th. In the meantime, Berkshire Hathaway Inc. (NYSE:BRKB) and Nationstar Mortgage Holdings (NYSE:NSM), and others are jockeying for the mortgage servicing assets of the Ally Financial Inc division (ResCap). However, Nationstar shares are down some 10 percent over the past few sessions, so perhaps its chances of beating Berkshire are not what it might wish them to be.

Morgan Stanley (NYSE:MS) shares seem mostly indifferent to chatter that its mutual funds have disproportionately large stakes in Facebook’s (NASDAQ:FB) stock, following the former’s handling of the latter’s infamous IPO. Actually, much of the holdings were acquired prior to the IPO, which indicates that it could still be holding profits, although the gains have obviously been almost erased.

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