State-sponsored bail-outs of western banks risk rewarding management teams for failure, Michael Geoghegan, HSBC chief executive said as the bank indicated that recovery in its US consumer finance division might take longer than it had expected
The global banking group reported that loan impairment charges in personal financial services in the US rose by $700m in the third quarter, to $4.3bn, but that was offset by growth in Asia, Europe and Latin America.
Output prices for British producers registered a record one-month fall in October, rising at an annualised rate of 6.8% from 8.5% in September, with the output price index falling 1% in the month while input price inflation was halved to 13.8%
UK employers are becoming increasingly gloomy about job creation in the current climate, a report shows.
Stock markets across Asia jump a day after China announced a $586bn economic and infrastructure stimulus plan.
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Fund managers are incorporating more environmental, social and governance (ESG) factors into their investment strategies due to pressure from asset owners such as pension funds, a report said on Monday.
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