HSBC reports decline in profits

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

HSBC Holdings Plc., Europe's biggest bank in terms of market value, reported a drop in profit of 53% or $1 bn in the 3rd quarter from previous year. Bad debt provisions climbed from $3.15 bn to $3.89bn. According to HSBC representatives, global economy faces challenges that hurt emerging markets, hinder growth and thereby reduce bank's profit.

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Wed, 09 Nov 2011 12:02:35 GMT

UK growth expected to slow down more than expected

British Industry Confederation claims UK's recovery will hesitate in 4th quarter and reach only a half the velocity previously predicted as Euro zone debt turmoil together with domestic inflation hurts investment outlook and UK export.  According to business lobby in London, the economy will grow 0.9% in 2011 and 1.2% next year compared with former forecasts of 1.3% and 2.2%.

Thu, 10 Nov 2011 13:17:52 GMT

British Pound to reach a monthly record high against Euro

The Pound is about to reach one-month record high against Eurozone currency. The appreciation of Pound takes place ahead of Berlusconi's budget vote and suggest British assets to be safe investment. On Nov 1 EUR/GBP reached 0.8548, the highest since Oct 4. Today the Sterling traded 0.8574 pounds per euro at 9.06 a.m London trading session.

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