“Shares of HSBC Holdings PLC fell on Thursday following a report that the banking giant may have overstated assets by as much as $92 billion. Analysts Thomas Monaco and Andrew Haskins at Forensic Asia initiated coverage of HSBC with a sell rating due to concerns over earnings presure and dilution from capital increases. ‘HSBC Holdings has overstated assets at the major subsidiary level to the tune of US$63.6 billion-US$92.3 billion, by our calculation, amounting to between five and seven years of results,’ said the analysts in a report released earlier this week.”
http://www.marketwatch.com/story/analyst-says-hsbc-overstated-assets-by-billions-2014-01-16
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Smell of marijuana: Who needs a search warrant when police use their nose?
Britain has invaded all but 22 countries in the world
Italy Denies Risk to Public Finances From Debt Derivative Deals
Israeli PM ordered strike on Iran in 2010
Hong Kong stocks soar as investors flood market
Homeless Veteran Dies In 100 Degree New York Jail Cell
Russian ‘mobile malware’ industry could spread to other countries
Bitcoin Startup Investments Surpass $117 Million
US calls Assange 'enemy of state'
At least one million cockroaches escape from farm in China
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’
Afghan villagers flee their homes as US drones terrorize them
US issues health warning over mercury fillings [2008]
Supreme Court rejects appeal of shoplifter serving life sentence
Taiwanese gov. blows up fishermen with supersonic missile