Europe's biggest bank HSBC reported a 28 percent fall in its first-half profit, in line with forecasts. A $14 billion hit on bad debts on U.S. home loans and asset writedowns offset strong Asian growth. HSBC said pretax profit in the six months to the end of June was $10.2 billion, down $4 billion from a year before. HSBC Chairman, Stephen Green. SOUNDBITE, HSBC Chairman Stephen Green saying (English) I think that these results have got to be seen in the context of the fact that this is the worst period of financial turbulence for at least a generation. Yes, of course, the profits are down. Yes, we're not immune to the difficulties posed by the market turbulence but when you stand back from the short-term difficulties, I think it's also important to say to ourselves two things: one, we've had a very robust set of results in all of the circumstances; and two, we're pursuing, we're implementing a strategy which is as valid as ever and which will...
A bank in India is helping sex workers save their money for a brighter future. MOREINFO: The bank was started by a sex-worker collective in the heart of Mumbai's red light district. More than...
Hong Kong shares rebound on Thursday(October 9), after recording a nearly 13 percent slide so far this week, helped by coordinated central bank action around the world and a raft of favourable...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura Holdings is to pay up to $525 million for Lehman's Asia Pacific franchise and is...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura has agreed to buy Lehman Brothers' equities and investment banking business in Europe and...
TiVo, the popular U.S. television-recording device, is finally arriving in Canada in early December. - The TiVo set-top device, which allows viewers to record shows and skip commercials,...
European shares jumped in early trade on Friday (October 17), tracking gains in the United States and Asia, as investors picked up battered banks and energy shares were lifted by a rise in crude....
Asia stocks ended the week on a high note with investors soothed by signs of bigger than expected economic growth figures in the United States. Exporters such as Toyota were among the top gainers....
Japan's top mobile phone player, NTT docomo, is looking for overseas acquisitions amid tough competition at home. New CEO Ryuji Yamada says a recent 30% stake in a Bangladesh carrier is just...
The head of the International Monetary Fund said on Monday (September 15) that fallout from the global credit crisis was not over, but that the root causes of the crisis had largely passed....
The credit card giant faces daily fines unless it changes its international fee structure, says the EU Competition Commissioner MOREINFO: * EU gives Mastercard ultimatum * EU adopts contested CO2...
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