Shares fall at HSBC despite plans for massive cost savings

The bank HSBC (LSE: HSBA) has announced a massive overhaul of the business amid plunging profits. Alongside reporting a one-third fall in annual profit and the writing down of more than $7bn (£5.4bn) of assets today the group also revealed it’ll cut 35,000 jobs. Job losses were expected but on a much smaller scale. Around... Continue Reading →

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