(Bloomberg) — HSBC Holdings Plc is speeding up the shakeup of its global business and warning loan losses may reach $13 billion this year as it battles the economic fallout from the coronavirus pandemic.The lender will continue to shift its capital towards Asia, which provided nearly all of HSBC’s earnings, according to its first-half results statement. First-half pre-tax profit missed estimates and more than halved to $5.6 billion. The bank said it is looking at further measures to boost performance.“We do need to take costs down, as a result of the revenue pressures” from the coronavirus, said Chief Financial Officer …read more
Source:: Yahoo Finance
