finish of restructuring costs boosts performance but Trump tax writedown misses forecastsHSBC Holdings’ pre-tax profit for 2017 has more than doubled to $17.2bn (£12.3bn),due largely to the absence of hefty restructuring costs, but the figure still lagged behind expectations as the bank took a writedown to take in US tax changes. On the chief executive Stuart Gulliver’s final day in the job, or Europe’s biggest lender by market capitalisation also announced plans to bolster its capital base by raising up to $7bn in the first half of 2018. Continue reading...
Source: guardian.co.uk