Monday, August 4, 2008
MORE GOOD NEWS FOR GOLD!
HSBC profit drops 29% as bad debt charges soar
Write-downs total $3.9 billion; bank remains cautious on outlook
By Simon Kennedy, MarketWatch
Last update: 8:02 a.m. EDT Aug. 4, 2008
Comments: 23
LONDON (MarketWatch) -- HSBC Holdings on Monday reported a 29% drop in first-half net income as bad debt charges surged to over $10 billion, though the banking giant increased its payout after growing profits outside the United States.
http://www.marketwatch.com/news/story/hsbc-profit-slides-29-bad/story.aspx?guid=%7BCD21FAB1%2DBEB8%2D4DDE%2DA3EF%2DA0E64F91AAF6%7D
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