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.
GMT 14:30 2017 Thursday ,27 AprilTwo US troops killed fighting IS in Afghanistan
GMT 14:28 2017 Thursday ,27 AprilKenya opposition names Raila Odinga as presidential candidate
GMT 13:18 2017 Thursday ,27 AprilKremlin urges restraint after alleged Israeli strikes on Syria
GMT 12:58 2017 Thursday ,27 AprilEurozone recovery 'increasingly solid'
GMT 12:32 2017 Thursday ,27 AprilRussian navy ship sinks, crew rescued: Turkish coastguard
GMT 12:31 2017 Thursday ,27 AprilTurkey's AKP to hold extraordinary congress May 21
GMT 12:13 2017 Thursday ,27 AprilGerman inflation shoots up to 2.0% in April
GMT 12:11 2017 Thursday ,27 AprilRussian navy ship damaged in collision off Turkish coast