HSBC yearly income approached 13.8 billion British Pounds

Source: BBC
HSBC's yearly profits gained 15% attaining 13.8 billion British Pounds. The bank attributed its sound performance to growing revenues from fast-developing markets as Asia, Middle East, Latin America and North Africa where revenues increased by 12% over the year. These regions currently account 49% of the bank's revenue.  HSBC is the most profitable among Western banks, outcompeting its rival JP Morgan that reported 12 bullion British Pounds of profit in 2011.


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Mon, 27 Feb 2012 12:56:43 GMT

Italy's borrowing costs fell after six-year bills sale

Italy sold about 8.75 billion Euros of six-month treasury bills with yield 1.202%, reported Italy's Treasury on Monday. The borrowing costs fell by 1.97% since last month. The demand was strong, with bids exceeding supply 1.36 times. Meanwhile, 10-year bond yield added 5 basis points approaching 5.44%, reported FactSet Research.

Mon, 27 Feb 2012 15:24:29 GMT

Dow Jones Industrial Average loses ground on Monday

Dow Jones Industrial Average index closed almost unchanged on Friday with sector returns making relatively tiny movements. Blue chip index slipped 0.01% or 1.74 points to 12,982.95. The main gainer was American Express which added 1.3% though the company reported FDIC is going to take measures to fight late fees on some charge cards. Hewlett Packard prolonged its downward momentum

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