HSBC losing investors' confidence

12/23/2008 | International Herald Tribune

HSBC, until recently considered by many to be financially invincible, saw its share price drop more than 17% last week, after analysts said the economic downturn will force the bank to slash its dividend or raise capital. The financial world's once-unshakable confidence in HSBC was further rattled by the bank's admission that it may have lost as much as $1 billion on investments with New York money manager Bernard Madoff.

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