This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-33754901
The article has changed 9 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| HSBC's profit up 10% in first half of the year | HSBC's profit up 10% in first half of the year |
| (35 minutes later) | |
| Profit at Europe's largest bank, HSBC, was up 10% in the first half of this year compared to a year ago on strong earnings in Hong Kong. | Profit at Europe's largest bank, HSBC, was up 10% in the first half of this year compared to a year ago on strong earnings in Hong Kong. |
| Its profit before tax was $13.6bn (£8.7bn) in the first six months, compared to $12.3bn a year ago - beating forecasts of $12.5bn. | Its profit before tax was $13.6bn (£8.7bn) in the first six months, compared to $12.3bn a year ago - beating forecasts of $12.5bn. |
| The lender also announced the sale of its Brazil unit to banking giant Banco Brandesco for $5.2bn. | |
| The move comes as it tries to reduce costs with plans to cut 50,000 jobs. | |
| "We are executing the actions that we announced at our investor update in June and our focus is on making significant progress during the remainder of the year," the London-based bank said in a statement on Monday. | |
| The sale of its Brazilian operations marks the bank's retreat from the second-largest emerging market, where it has about 21,000 employees. | |
| HSBC has also been considering moving its global headquarters from London and confirmed the decision by its board would be made by the end of this year. | |
| HSBC's Hong Kong listed shares were trading flat after the results. | |
| The stock outperformed the benchmark Hang Seng index, which is down over 1%. | The stock outperformed the benchmark Hang Seng index, which is down over 1%. |