in lime light today: US recession affecting world
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Tuesday, May 13, 2008

US recession affecting world

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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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