HSBC profits rise nearly 80% amid improving economic outlook

Bank is able to release $435m of $8.8bn it put aside to cover bad debts in Covid crisis last year

HSBC reported $5.8bn in first-quarter profit, a near-80% jump, as improving economic forecasts allowed the bank to release hundreds of millions of pounds of bad debt provisions made to cover potential defaults linked to the Covid crisis.

Executives said they were still cautious but feeling more optimistic than in February, partly owing to the success of vaccine rollouts in big markets including the UK.

Continue reading...

Coronavirus | The Guardian

Comments

Post a Comment

Popular posts from this blog

NSW Covid update: 65 new cases as GP clinics and pharmacies drive new spread of virus

Gladys Berejiklian says people should call ahead before visiting health services and warns of higher numbers tomorrow Follow our Covid live blog for the latest updates Latest NSW lockdown rules explained Full list of Covid exposure sites and hotspots in Sydney Download the free Guardian news app ; Get our morning email briefing People visiting GP clinics and pharmacies while infected have been identified as a new driver of the spread of Covid, particularly in south-west Sydney, prompting the premier to urge people to stay at home and call ahead before visiting health services. Cases announced today also include a Covid-positive patient who attended Liverpool hospital, and a staff member at Chris O’Brien Life House, a cancer centre in Sydney’s inner west. The latter case was picked up during routine testing of staff, and further urgent testing is under way. Continue reading... Coronavirus | The Guardian
Read more

Covid vaccine used on apes at San Diego zoo trialled on mink

Experimental animal jabs could stop spillover back to humans, says firm behind vaccines for primates At the start of 2021, four orangutans and five bonobos became the first great apes at a US zoo to receive Covid-19 vaccinations. An outbreak in San Diego zoo’s western lowland gorilla troop had caused panic among staff after the virus spread to the animals, probably from an asymptomatic zookeeper. Eight gorillas tested positive – with symptoms such as runny noses, lethargy and coughs – and there were fears the virus could spread to other primates. “We were approached by San Diego zoo asking if we had any vaccine because the primates were getting sick. Luckily, we had some that we thought would be appropriate,” recalls Dr Mahesh Kumar, a senior vice-president at the US veterinary pharmaceutical company Zoetis, which developed the jab. Continue reading... Coronavirus | The Guardian
Read more

Ministers accused of sowing confusion over England’s travel advice

Government criticised for sending out mixed messages about traffic-light system for foreign travel Coronavirus – latest updates See all our coronavirus coverage Ministers have been accused of sowing confusion over what foreign travel is permitted for people in England after sending out mixed messages relating to its traffic light system. On Wednesday, the education minister Gillian Keegan urged people to be “sensible” and not travel to “amber list” countries for holidays, but her comments followed differing advice the day before. Continue reading... Coronavirus | The Guardian
Read more