CNA: HSBC’s first-half profits dive 29%, warns on outlook

LONDON – Global bank HSBC said on Monday that its net profit dropped 29 per cent during the first half because of ballooning credit write-downs and bad consumer debts.
Europe’s biggest bank by stock market value warned that the outlook remained “highly challenging” as it reported profit after tax totalling 7.72 billion US dollars (5.0 billion [...]