Wednesday, November 26, 2008

HSBC hopes to offset subprime losses with insurance earnings

HSBC Holdings, Europe's biggest bank, is relying on insurance units in Asia to help restore profit growth after a $15.5 billion expansion into US subprime lending went awry.

www.financialweek.com/apps/pbcs.dll/article?AID=/20070914/REG/70914002/1002/rss02&rssfeed=rss02