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HSBC hit by further bad debts

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11-10-2008, 11:12 PM

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HSBC hit by further bad debts

Banking giant HSBC has revealed that losses have soared by $700 million to $4.3 billion (£2.7 billion) in the third quarter due to bad debt charges relating to the US sub-prime mortgage market crisis. This takes its total impairment since the US housing market crisis first emerged in late 2006 to approximately $23 billion. Furthermore, the bank [...]

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