TAKEPLACE: HSBC'S LIMP PROFIT ESTIMATES LEAVES DISAPPOINTED INVESTORS

Monday, February 28, 2011

HSBC'S LIMP PROFIT ESTIMATES LEAVES DISAPPOINTED INVESTORS

LONDON (MarketWatch) — Banking giant HSBC Holdings PLC said Monday that its 2010 net profit more than doubled to $13.16 billion, though the result wasn’t enough to satisfy investors, who were disappointed by rising costs and a lowered profitability target.

HSBC /quotes/comstock/23s!a:hsba (UK:HSBA 676.10, -33.10, -4.65%) /quotes/comstock/13*!hbc/quotes/nls/hbc (HBC 54.99, -2.28, -3.98%) said it generated a profit in every customer group and region for the first time since 2006. The group’s performance was driven by a return to profit for its retail banking unit and continued strong growth in emerging markets, while the investment-banking profit fell back slightly. MARKETWATCH

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TakePlace was made with you in mind It's about ideas and innovation, creative perspectives, and solutions. We're advocates for change, because change needs friends. We explore complex systems, adaptive agents, modeling, simulation, artificial life, and complex (information, biological, and social) networks. We especially focus on the Web as a complex information network in which we leave abundant traces of our social and semantic activities: what we do, what we are interested in, whom we talk to, what knowledge we acquire and contribute. Our research spans from modeling the dynamic processes that occur on the Web (how information networks grow and evolve, how individual and collective traffic patterns emerge, how attention bursts are generated and shaped by social and search tools) to designing tools that mine the Web to build better search, navigation, management, and recommendation tools (where ‘better’ means more intelligent, autonomous, robust, personalized, contextual, scalable, adaptive, and so on).