Subprime bellwether HSBC takes a $3.4 billion charge
Article Abstract:
UK financial services firm HSBC Holdings PLC announced a third-quarter impairment charge of $3.4 bil on bad debts, but stated that global revenue growth offset the charge. HSBC has raised its reserves against current subprime mortgage problems from $2.6 bil to $3.4 bil.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
Sales, profits & dividends, Financial management, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Financial services industry, Finance, Company sales and earnings, HSBC Holdings PLC, Company earnings/profit, Company financing
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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U.K.'s Cheyne joins the chain of firms battered by the credit-market turmoil: affiliate unloads assets to repay obligations as global selloff grows
Article Abstract:
Cheyne Finance, an affiliate of UK-based Cheyne Capital Management LLP, has started to sell assets to pay off its debts, adding to the amount of US mortgage-backed securities flooding the market that have been negatively affected by subprime lending woes.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
United Kingdom, Acquisitions & mergers, Management investment, open-end, Mergers, acquisitions and divestments, Company acquisition/merger, Mutual fund industry, Hedge funds
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
User Contributions:
Comment about this article or add new information about this topic:
Subjects list: United Kingdom, Economic aspects, International aspects, Influence, Subprime loans
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