August 03, 2016 BY Valentina Kirilova

HSBC announces a $2.5 billion share buy-back after profits tumble

HSBC Holdings plc (LON: HSBA) has announced a $2.5 billion share buy-back as it takes steps to soothe investors after a near 30% drop in first-half core profits. The shares rose 3.5% in London initially before falling down slightly afterwards. The bank also said that they are going to abandon their timetable for achieving a…

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