Greece's banks faced essential money outflow

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Source: Reuters
Consumers and businesses continued to withdraw money from Greece's banks at sharply increased pace in January, reported the ECB. Private deposits in the country's banks decreased by 3% on a monthly basis in January, approaching 174.9 billion Euros. Fall in the deposits in indebted countries as Portugal and Spain showed much better results, with slightly growing deposits in January.

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Mon, 27 Feb 2012 12:35:25 GMT

HSBC yearly income approached 13.8 billion British Pounds

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

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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