Bullish HSBC shrugs off rise in bad debts August 3, 2009 HSBC saw first-half profits cut in half in the first six months of the year, as impairments reached $13.9bn (£8.2bn), but signalled that the economic crisis was beginning to ease. Pre-tax profit fell to $5bn, a 51 per cent decline on the $10.25bn earned in the same period of last year, but a marked turnaround [...]
Bank chiefs issue warning against regulatory overkill August 3, 2009 BARCLAYS chief executive John Varley yesterday urged regulators not to risk “throttling” economic recovery with overzealous reforms, while HSBC backed up his call for a measured approach. “This industry got many things wrong and there is much to be sorry about. There must be change and there will be change,” said Varley. But he added [...]
WHAT ARE YOUR THOUGHTS ON HSBC’S RESULTS? August 3, 2009 HENK POTTS BARCLAYS WEALTH“Messy numbers, with various accounting changes, but definitely ahead of expectations and sentiment towards the sector continues to improve. Household, the US business which is largely in run-off mode, was the largest source of upside surprise with lower provisions and lower realised losses.” DAVID BUIK BGC PARTNERS“HSBC’s tier one capital stands at [...]
Defiance of Clarke and North send England’s victory prospects south August 3, 2009 ENGLAND captain Andrew Strauss admitted his disappointment after a resolute stand between Michael Clarke and Marcus North denied the home side a 2-0 lead in the Ashes series. Fifth-wicket pair Clarke (103 not out) and North (96) put on 185 as Australia comfortably batted out the final day to secure a draw in the third [...]
Discharged Massa vows to make speedy return to track August 3, 2009 FELIPE MASSA says he is determined to return to racing as soon as possible after being discharged from his Budapest hospital bed following brain surgery. In his first interview since his horror crash in qualifying for the Hungarian Grand Prix, Massa admitted remembering nothing about the incident, which occurred when he was hit by a [...]
Williams make objection to Schumacher’s testing August 3, 2009 MICHAEL SCHUMACHER has been blocked in his bid to test Ferrari’s car – by a disapproving Williams team. Ferrari last week wrote to governing body the FIA and their nine rival teams, requesting special permission for Schumacher to familiarise himself with the current F60 model ahead of the European Grand Prix, where he is standing [...]
Arsenal told to pay 12m for Chamakh August 3, 2009 BORDEAUX have told Arsenal to double their £6m offer for Marouane Chamakh or forget about signing the Morocco striker. Chamakh, 25, is furious at his club’s hard-line stance and is threatening to leave for nothing next summer when his contract expires. But the French champions’ president Jean-Louis Triaud is determined that their prize asset will [...]
Benitez lines up Aquilani to replace Real-bound Alonso August 3, 2009 LIVERPOOL boss Rafael Benitez has wasted no time in replacing Xabi Alonso by closing in on the signing of Roma’s Alberto Aquilani. Reports in Europe suggest Benitez has already had a £15.2m bid for the midfielder accepted by the Italian club, while his representatives were thrashing out a deal with big-spending Real over the future [...]
RFU ban Bath trio but cut bans to nine months August 3, 2009 FORMER Bath trio Michael Lipman, Alex Crockett and Andrew Higgins were last night banned for nine months after being found guilty of failing to submit to drug tests. But the Rugby Football Union reduced their sentences from 15 months on the basis of good character and concerns over legal advice they were given. And the [...]
Woods savours 69th Tour win August 3, 2009 GOLF: Tiger Woods admitted his Buick Open victory in Michigan was extra special after recovering from a nightmare start. The world No1 shot a disappointing opening 71 before hitting back with rounds of 63, 65 and 69 to finish on 20-under-par and win by three shots. “This one feels good,” Woods said after a 69th [...]
