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Business

HSBC shares dive to 25-year low over dirty money scandal

HSBC and Standard Chartered Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money. Many media articles were based on leaked suspicious activity reports filed by banks and other financial firms […]

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Business

HSBC plans to cut around 35,000 jobs amid the coronavirus pandemic

HSBC is resuming a redundancy plan it put on ice after the coronavirus outbreak, and will cut around 35,000 jobs over the medium term, a memo on Wednesday revealed. The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo, which was sent to HSBC’s 235,000 […]