Just over 10 years ago, HSBC was the first canary in the world's financial crisis coalmine to signal trouble ahead. Today's 7% bloodbath in the banking behemoth is the biggest drop since the financial crisis after reporting fourth-quarter profit that missed estimates on a surprise drop in revenue, which it warned could fall again this year.
Eurozone private sector and manufacturing growth unexpectedly jumped to the highest in six years in February and job creation reached its fastest since August 2007, propelled by strong demand and optimism about the future, the latest Markit PMI survey found. The Markit Eurozone PMI registered 56.0 in February, up from 54.4 in January , the highest reading since April 2011.
There is a cost to Fed Policy!
The yield on Greece's bonds have tumbled the most since June after creditors agreed on Monday to resume talks in Athens over steps needed to continue a bailout of the nation, driving expectations that Greece will be able to meet its deadline for debt redemption by July.
As The FT reports, bailout monitors are now due to return to Greece following a meeting of finance ministers and IMF officials in Brussels yesterday, where creditors claimed a partial breakthrough in talks.
While Verizon has decided not to back away from its high profile purchase of Yahoo, after the internet portal reported two massive data breaches following the deal announcement, the WSJ reports that The companies have agreed to revise the $4.83 billion deal, cutting as much as $350 million off the price and evenly splitting costs from the breaches.