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United States

Lawrence White

Pandemic tips Metro Bank into $314 million loss, denting shares

Aug 05 2020

LONDON Britain's Metro Bank swung to a 240 million pound ($314 million) first half loss on Wednesday after it took provisions to cover coronavirus crisis-related loan impairments.

UPDATE 2-Pandemic tips Metro Bank into $314 mln loss, denting shares

Aug 05 2020

LONDON, Aug 5 Britain's Metro Bank swung to a 240 million pound ($314 million) first half loss on Wednesday after it took provisions to cover coronavirus crisis-related loan impairments.

Britain's banks brace for $22 billion loan losses as outlook darkens

Aug 05 2020

LONDON Britain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher "worst-case" scenarios into their risk models.   

HSBC warns loan losses could hit $13 billion as profit plunges 65%

Aug 03 2020

LONDON/HONG KONG HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to $13 billion this year and said its profits more than halved, as the coronavirus pandemic hammered the bank's retail and corporate customers worldwide. | Video

NatWest tumbles to first-half loss on pandemic bad loan charge

Jul 31 2020

LONDON NatWest Group plunged into the red in the first half of the year after setting aside a fresh 2.1 billion pound provision against a potential surge in loan losses due to the COVID-19 pandemic.

UPDATE 3-NatWest tumbles to first-half loss on pandemic bad loan charge

Jul 31 2020

* Bank sets aside 2.1 bln pounds in bad loan provisions in Q2

StanChart to sharpen focus on costs after first-half profit hit by loan losses

Jul 30 2020

HONG KONG/LONDON Standard Chartered PLC on Thursday posted a 33% fall in first-half profit after credit impairment charges jumped six-fold as a result of the coronavirus pandemic, and said it would continue to keep a tight lid on costs.

Bad debt charge overshadows trading surge at Barclays

Jul 29 2020

LONDON Barclays set aside a higher than expected 1.6 billion pounds ($2.1 billion) to cover a possible rise in loan losses in the second quarter and warned a grim outlook and low interest rates would hurt profits into 2021. | Video

U.S. Supreme Court takes up Nestle, Cargill appeals over human rights claims

Jul 02 2020

WASHINGTON The U.S. Supreme Court will decide whether American corporations can be sued for alleged human rights abuses occurring abroad under a 1789 law, agreeing on Thursday to hear appeals by two companies - Cargill Inc and a Nestle SA subsidiary - accused of knowingly helping perpetuate slavery at Ivory Coast cocoa farms.

Federated Hermes questions HSBC's stance on Hong Kong law

Jun 30 2020

LONDON HSBC investor Federated Hermes said it has questions about the bank's support for China's new security law for Hong Kong, the second investor in Europe's biggest bank in recent weeks to voice concerns about the lender's stance.

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