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Banking

WireTap 1400 08/05/12

A round-up of the key stories across the specialist financial media, including news that a rebound in investment banking has allowed HSBC to beat expectations for its 1Q earnings


Investment bank, cost cuts help HSBC top forecasts

HSBC beat expectations with an underlying first-quarter profit of $6.8 billion, as Europe''s biggest bank saw a rebound in investment banking, growth in Asia and a fall in US bad debts.

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US could make $15.1 billion on AIG bailout: GAO

Taxpayers could realize a profit of more than $15.1 billion from the massive government bailout of insurer American International Group, a congressional watchdog says.

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Germany reports strong industrial rebound

Germany has reported a much stronger-than-expected rebound in industrial production, as its economy weathers the eurozone debt crisis better than most of its European rivals.

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Spain readies new push to shore up banks

The Spanish government said on Monday it is preparing a rescue plan for Bankia SA, the country''s largest ailing bank, as part of a renewed drive to shore up its wobbly banking industry amid unprecedented economic crisis.

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US stock futures drop as Greece searches for new regime

US stock-index futures declined as Greek political leaders struggled to form a government, raising concern that the Mediterranean nation might default on its debt as early as next month.

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