Tuesday, May 13, 2008
US recession affecting world


US recession `likely,' says HSBC after crunch losses
Benjamin Scent
Tuesday, May 13, 2008
HSBC (0005) recorded US$3.2 billion (HK$25 billion) of loan impairment charges in the first quarter for its US consumer finance business, down from US$4.6 billion in the fourth quarter last year, but chairman Stephen Green said the deterioration in the US housing market will likely extend into 2009.

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Labels:
HSBC,
US recession,
world
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