Articles Tagged with ''HSBC''

HSBC Cuts US Portfolio by $9 Billion in H109

HSBC Holdings [stock HBC][/stock] continued to unwind its US mortgage operations in in the first half of 2009 (H109). The firm posted $5bn pretax profit in H109, down 51% from H108, despite heavy losses of $3.7bn in its North American segment. Since it began to run down its US personal financial services including mortgage operations in Q107, HSBC has reduced its consumer finance portfolio by $34bn to $91bn -- by 27% in total -- and by $9bn in H109 alone. The business segment saw a pre-tax loss of $2.9bn in H109.
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LPS Shares Hammered by Incorrect Dow Jones Report

A story appearing in Dow Jones Bankruptcy Review managed to hammer shares of industry tech provider Lender Processing Services, Inc. [stock LPS][/stock] on early Friday afternoon, suggesting the Jacksonville, Fla.-based firm was the subject of a formal investigation by the Department of Justice. Shares in the company tanked nearly 30% on the news, falling $9.61 to $23.57, before trading of the company's stock was halted on the New York Stock Exchange. Shares resumed trading late Friday afternoon.
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