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HSBC banks £12.2 billion profit

Banking giant HSBC has seen profits rise 10 per cent to £12.2 billion despite having to write off £8.7 billion from bad debts and investments linked to the credit crunch.

The UK's largest banking business said it was "continuing to face challenges" in North America as a result of the housing market troubles and associated credit crunch.

HSBC also warned that the credit outlook in the US may "get worse before it gets better".

HSBC said overall performance during 2007 was bolstered by "exceptionally strong" results in the emerging market regions of Asia Pacific, Latin America and the Middle East.

In the UK, profits from commercial banking topped the £1 billion mark for the first time.

But the group's US consumer business - comprising mortgages, credit cards and personal loans - suffered from high bad debt charges, with write-offs in this area increasing 80 per during 2007 to £5.9 billion.


The Leonard Lopate Show

How can someone minimize the potentially lethal effects of foods on kids? You are a horrible, horrible station to give this interview. This is a horrible person. We had a child almost die from ingesting dairy. While not all kids are allergic to food, and even if it's overblown, so what!!!!!!! Isn't it better to be safe. Saying that it's in the self-interest of FAAN or whatever it is to promote labeling on products is just stupid. What is wrong with better labeling? Isn't it better to know what is contained in our food that not? The smugness of the interviewer is truly, truly obnoxious. Oh, it's so overblown these allergies. And so what if the rate has been increasing, decreasing, or staying the same. There is a problem and if we don't deal with it, some kids will die. I'd like to know just what the author knows about statistical significance.


Acquirers, Don't Despair: PwC Says 2008 Is Your Year

This year's crisis in the credit markets is expected to create next year's intriguing opportunities for companies in the market to acquire, according to the Transaction Services group of PricewaterhouseCoopers.

But PwC's report says that 2008 merger-and-acquisition activity will be dominated by U.S. strategic buyers and foreign corporations, rather than the financial buyers who led the way for much of 2007. And the accounting firm is looking for the U.S. middle market to continue at its high level of M&A activity as the new year begins.

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"The era of public-to-private transactions is on hold for now," according to Bob Filek, a partner in the PwC Transaction Services group. He added in the report that much of the downturn in mega-deals by private equity firms will be offset, as the continued weaker dollar leads more international buyers to find targets in the U.S.


Teachers question salaries

Too high for the education our kids are receiving. I understand his spending is already more than should be . This "excess" money should go to education, not an over paid superintendent that has proved nothing in 6 months. This pay contract should stay until a pay raise is appropriate, and I don't see why there would be a pay raise at the pay received now. Whining about not enough money to support the arts in the school?? If a raise is an issue, it should come from the school boards pockets. Maybe then they "might" understand working people that can't afford today's prices to live. This is an outrage, just like choosing the superintendent.

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Judge rules for Kinge in civil trial

A state Court of Claims judge has filed in favor of Shirley Kinge in her case against New York state for negligence and malicious prosecution over her link to the 1989 murder of the Harris family of Ellis Hollow.

Judge Nicholas Midey Jr. found that a state police senior investigator did not properly supervise a forensic investigator later found to have fabricated and lied about fingerprints linking Kinge, now 72, to the scene of the murders.

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Danish Court Tells ISP To Block PirateBay

I'm a Dane, and I can tell you that 90% of the population can choose between 3 or more ISP's. The problem is that the other ISP's tend to follow (don't ask me why) like they did with allofmp3.com and mp3sparks.com. You can say what you want about allofmp3, TPB and how useless a DNS block is, but it's a very slippery slope. This is pretty much as pure censorship as it gets (which is forbidden in the danish "Grundloven" just like in the US Constitution), and if it's allowed to continue there is no telling where it will end.

(reply to this comment) (link to this comment)

by wolfger on Feb 5th, 2008 @ 2:33am

silly solutions, brought to you by people who obviously don't understand technology.

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by Lucretious on Feb 5th, 2008 @ 2:56am

the boys will simply laugh this away.


JAQUITTA'S JOURNEY: Read Her Blog

I wanted to update you on what's been going on with me lately.

I have finally gotten adjusted to my new look and new super short hair. Everyone has been so kind about the new look. The compliments are so very flattering. I thank you very, very much. I love it too! It's soooooo easy... I wash it and go. I spray a leave in conditioner on it, and then I apply this butter cream called Miss Jessie's Curly Butter cream in my hair that Monica Pearson gave me and I'm out the door. I LOVE LOVE LOVE IT! The butter cream smells WONDERFUL, and it locks in my curls. I had heard about Miss Jessie's products before, but never tried them until Monica bought some for me. Now, I'm hooked and wanted to tell you about it as well. Thanks Monica!

I have had quite a few people who have asked who my hairstylist is now that I have this new look.


Fighting for Survival

Instead, Vice President Dick Cheney's former chief of staff asked the judge to "consider, along with the jury verdict, my whole life." In the end, Walton said he respects those who choose to pursue public service but, "I also think it's important we expect and demand a lot from people who put themselves in those positions." Libby now faces the prospect of becoming the first high-level White House official to go to prison since Watergate. The threat became even more real when Walton said he was not inclined to allow Libby to remain free on bail during any appeals because his conviction is unlikely to be overturned, but the final decision will be made next week.

The Los Angeles Times says Walton's reluctance to let Libby go free on bail, "appeared to throw the defense team off guard." USA Today emphasizes that Libby and his attorneys now have to show there is at least a chance that an appeal would be succesful.


Visa hopes to raise US$18.8 billion in unprecedented IPO

Visa Inc, the world's biggest electronic payment processing firm, unveiled plans on Monday for what could be a record US initial public offering (IPO), saying it hoped to raise US$18.8 billion.

If the San Francisco-based company's expectations are met, its planned IPO would easily overshadow the giant US$10 billion IPO of AT&T Wireless in 2000.

Visa, which processes payments for credit and debit cards, said it plans to sell at least 406 million shares to public investors as soon as possible. It expects its shares to be priced at between US$37 and US$42 per share.

The company unveiled its bid to transform itself from a private entity into a public group through a regulatory filing with the Securities and Exchange Commission.

Visa's planned IPO comes amid a slowdown in such public listings, due in part to an ailing US economy and a credit crunch sweeping the financial markets which have triggered sharp stock market declines in recent months.


Estate agent jobs go as house sales tumble

One of Britain's biggest estate agents has cut jobs and closed branches as the volume of sales tumble to the lowest level since the country's last house price slump in the late 1980s.

Get the latest news and analysis on propertyLSL Property Services, the owner of the estate agencies Your Move and Reeds Rains, has shut 12 branches and eliminated 315 jobs in a move that signals the slowing market will take its toll on estate agents this year.

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minazione e resistenza irakena

To repeal the Act creating bank notes, or to restore to circulation the Government issue of money, will be to provide the people with money and will therefore seriously affect our individual profits as bankers and lenders. See your Congressman at once and engage him to support our interests, that we may control legislation.

Again, in eighteen hundred and ninety-three, a circular was sent out by the Amer ican Bankers Association, an organization in which most bankers hold membership . It is known as the Panic circular of eighteen hundred and ninety-three; be ars date March eleventh, eighteen hundred and ninety-three, and was mailed to th e national banks. It reads as follows :

DEAR SIR: The interests of national banks require immediate financial legislat ion by Congress.


 
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