We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Loss in translation

21 July 2009 By John Foley

A $4.7bn reported loss on the $17bn rights issue is set to bring the bank into the red for the first half of 2009. The accounting is a nonsense, like losses from narrowing market spreads on the bank s own debt. But HSBC s unsophisticated shareholder base may need some convincing.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)