HSBC to APOLOGIZE for Lapse and 2 Hot Stocks to Notice Now

HSBC (NYSE:HBC) failed to identify and control money laundering within its operations and will apologize for the lapse at a Senate hearing next Tuesday. In an internal memo CEO Stuart Gulliver wrote “we failed to spot and deal with unacceptable behavior… It is right that we be held accountable and that we take responsibility for fixing what went wrong.” HSBC is also being investigated by the SEC and the Justice Department.

Investing Insights: Wall Street Brief: Amazon Preps for MASS Production of New Smartphone, JPMorgan Claws Back MILLIONS.

Navistar (NYSE:NAV) CEO Dan Ustian plans to grab the lion’s share of the huge market for Chinese school buses, estimated to be valued over $73 billion over the course of the next decade, with about 50,000 buses being bought every year by 2015.

Phase III trials of its dolutegravir HIV treatment are encouraging enough for Shionogi-ViiV Healthcare, a JV involving GSK, Pfizer (NYSE:PFE) and Shionogi, to suggest the drug might be more effective than Gilead’s (NASDAQ:GILD) and Bristol-Myers Squibb’s (NYSE:BMY) Atripla drug.

Don’t Miss: Will Amazon Release Its First Smartphone THIS YEAR?