HSBC reported solid results with Q1 adjusted profit before taxes more than doubling to $6.4bn and net profits up 82% to $4.6bn. All regions were profitable in the quarter, with HSBC particularly mentioning ‘HSBC UK Bank plc’ reporting pre-tax profits of over $1bn....
Banking major HSBC has entered final negotiations to sell its French retail banking business to PE firm Cerberus Capital Management. The move is part of HSBC’s cost cutting measures and the source said that talks are conditional on price and may not result in a sale....
