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HSBC profits slide after taking $2.0-bln charges
Jul 30th, 2012
HSBC on Monday said its first-half profit fell after Europe's biggest bank took a $2.0 billion-hit to cover penalties from a money-laundering scandal in the United States and insurance mis-selling claims. (Source: AFP) -
By Steve Slater LONDON (Reuters) - HSBC is cutting 1,149 jobs in Britain in another round of redundancies to save money and slim down Europe's biggest bank. The cuts are part of a 3-year revival plan by Chief Executive Stuart Gulliver to cut costs, lift returns and focus on profitable areas. HSBC said on Tuesday 3,166 UK jobs would be affected... [Full Article]
LONDON (Reuters) - Royal Mail said annual profit had more than doubled on the back of an online shopping boom, providing a timely boost ahead of a stock market listing expected later this year. An initial public offering (IPO) of the state-owned firm, which has 150,000 staff and sales of 9.15 billion pounds, is expected to value Royal Mail at betwe... [Full Article]
SAN FRANCISCO (Reuters) - Dell Inc, the subject of a takeover battle between activist investor Carl Icahn and the company's billionaire founder, reported a 79 percent slide in profit as personal computer sales continue to shrink. Revenue in its fiscal first quarter ended May 3 fell to $14.1 billion, while net income fell to $130 million, Dell ... [Full Article]
By Dan Williams LOD, Israel (Reuters) - The dilemma Israel faces in trying to formulate a strategy on Syria two years into its civil war is symbolized by a case being heard in a small courtroom near Tel Aviv. The state is prosecuting an Arab Israeli who briefly joined the rebel forces fighting to topple President Bashar al-Assad. Arrested after his... [Full Article]
CAIRO (AP) - The pale, young Christian woman sat handcuffed in the courtroom, accused of insulting Islam while teaching history of religions to fourth-graders. A team of Islamist lawyers with long beards sang in unison, "All except the Prophet Muhammad." (Source: Associated Press)... [Full Article]
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