StanChart pre-tax profit zooms 17% to $741 million in H1
London: Banking group Standard Chartered has clocked a 17% surge in first half profit, but its shares slipped on the continuing tough outlook for its main Hong Kong market. The UK-based bank, which makes about two-thirds of its profit in Asia, reported pre-tax profit of $741m in the six months to 30 June, up from $634 million a year earlier. But the bank said conditions in Hong Kong were challenging in the short-term. “The market environment in Hong Kong remains tough, having been set back in recent months by SARS,” a bank statement said.
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Bill Gates sells over 2 million shares
Los Angeles: Microsoft Corp chairman Bill Gates sold 2 million shares of stock last Monday at prices ranging from $25.79 to $26.38, the company said in regulatory filings. In forms filed with the US Securities and Exchange Commission, Microsoft said Gates sold the share in a number of transactions during the day, generating at least $51.6 million from the sales.

Last Friday, Gates sold 1 million shares of Microsoft stock, realizing at least $26.2 million from those sales. He still holds more than 1 billion shares of Microsoft stock. Earlier this year, Microsoft Chief Executive Steve Ballmer sold shares worth about $1.45 billion in a series of transactions over two weeks.
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