HSBC says to cut $5bn by 2017, sell Brazil and Turkey businesses
HSBC
Hong Kong - Arab Today
Scandal-hit global bank HSBC said Tuesday that it would slash up to $5 billion by 2017 and sell its operations in Turkey and Brazil.
The announcement, in a statement to the Hong Kong stock exchange, comes ahead of an investor update later Tuesday in which chief executive Stuart Gulliver is expected to announce thousands of job cuts, according to reports.
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