Q1 profit drops 18%
The business diversification of HSBC Holdings plc is enabling it to deliver earnings despite the huge hit it’s taking in the US mortgage business, says Fitch Ratings.HSBC announced today that underlying pre-tax profits were flat at US$23 billion in 2007, despite US$17 billion of loan impairment charges largely in HSBC Finance and US$2 billion of […]
Investment manager writes off abandoned fund offering
Cooperative takes further $116 million writedown on non-bank ABCP holdings
Q1 income drops 17%
McCaughey calls loss a "significant disappointment"
Volatile markets trim wealth management revenue
After a 22% drop in profits last year, Canada’s residential construction industry can expect profitability to decline further in 2008, according to the Conference Board’s Canadian Industrial Outlook: Canada’s Residential Construction Industry – Winter 2008.“With a growing inventory of new homes, declining housing starts and weaker price growth, builders’ profits are expected to shrink over […]
Lower advisory revenue in capital markets group
Bank raises dividend to 59¢