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While there's no such trouble at HSBC or Barclays, Monday's interim results presented challenges of a different kind. Both lenders leaned heavily on lucrative investment-banking units to soften the blow from bad debts in the commercial or retail arms of the groups. Owing in part to its purchase last fall of Lehman Brothers' U.S. operations, profits at Barclays Capital doubled in the first half of the year, to $1.7 billion. The group's charges for bad debt, meanwhile, leaped by a similar rate, to some $7.7 billion. Vital to the bank in coming years: reducing its reliance...
...January of HBOS, the troubled U.K. lender heavily exposed to Britain's declining property market. Still, you can't fault Lloyds' optimism. The bank, in which the government has a 43% stake, predicted "high single-digit income growth" within two years. Analysts expect a steep hike in provisions for bad loans when Royal Bank of Scotland (RBS), Britain's largest taxpayer-funded lender, unveils first-half results later this week. After falling to a $40 billion loss last year, the largest in U.K. corporate history, RBS - more than two-thirds of it in government hands - should at least break even...
...expert on financial disclosure, agrees that firms that co-locate are at a huge advantage because as exchanges are charging for the service, it can't be considered equal access, even if the service is being offered to everyone. "To say that all high-frequency trading is bad and should be banned is an overreaction, but if preferred access is being sold, that is a problem that should be addressed," he says...
...also put us in the line of infection for the flu, particularly if we share enclosed spaces with others. School is in session during the fall and winter in the northern hemisphere, and classrooms are excellent vectors of infection for all illnesses, including the flu. (Read "Think H1N1 Is Bad Now? Wait Till Flu Season...
...release removes one obvious thorn between Washington and Pyongyang, whose relations in the past six months have sunk to a level "that's as bad as I've ever seen them," as Clinton's former ambassador to the U.N., Bill Richardson, said on Tuesday. Now the question of the moment is, Will the former President's visit reverse that deteriorating dynamic? Clinton met with Kim for 3½ hours on Tuesday evening. Even if the former President didn't - as the White House insisted - bring a specific message to Kim from Obama, it's safe to assume...