Wednesday, October 7, 2015   

HSBC's first-half profit falls
(08-04 17:05)

Banking group HSBC says first-half profit fell 5.4 percent to US$9.46 billion amid continuing concerns about economic growth around the world and rising geopolitical tensions.
Chairman Douglas Flint says that now is not the time to attempt to bolster revenues because world economies are still recovering from the 2008 economic crisis, AP reports.
Flint told investors in a statement Monday that with "residual concerns over the sustainability of economic growth in many major markets and with heightened geopolitical tensions apparent, the board supported management's view that this was not the time to expand risk appetite to offset the effect of lower revenues.''
HSBC Holdings PLC, which has operations in 74 countries, also says it is being challenged by increasing regulation.   
Other Business breaking news:
Eurozone growth cut to 1.6pc (10-06 22:19)
IMF trims global growth projection (10-06 22:17)
Modest pickup forecast for US (10-06 22:15)
US blue chips climb at open (10-06 21:48)
US August trade deficit with China leaps to US$35b (10-06 20:59)
Facing mega financial hits, Volkswagen tightens spending (10-06 20:40)
Europe to share info on tax avoidance deals of global corporations (10-06 19:57)
(Books) Bernanke worried about ‘grand-daddy of all financial panics’ (10-06 19:39)
Volkswagen admits 8m dirty diesels sold in Europe (10-06 19:01)
Greenback still mighty, but yuan gains ground in trade finance (10-06 18:15)

More breaking news >>

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