HSBC's warning highlights gloom for sub-prime lenders

4:30 pm ET Feb 8, 2007

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HSBC's warning highlights gloom for sub-prime lenders

LONDON -- HSBC Holdings, the world's third-largest bank and one of the
most aggressive players in the U.S. market for low-quality mortgages,
has sent a chill through the financial world with news that its bad-debt
charges will be 20% higher than forecast.
Winter helped drive sales,
but not enough for some retailers

CHICAGO - The late arrival of winter in January helped U.S. retailers
spring back from disappointing sales as shoppers loaded up on heavy
coats, snow-removal equipment and home-entertainment merchandise - much
of which was purchased with gift cards.