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HSBC falls long way short of expectations
Giant banking firm HSBC (HSBA) is in the doghouse after delivering a 62% year-on-year decline in 2016 profit thanks to a number of one-off items. The $7.1bn figure is a long way short of the $14bn expected by analysts. Recent top-line trends do not look too encouraging either with $11bn of revenue in the fourth quarter against the $12.3bn consensus forecast. (TS)