HSBC Profit Declines on Debt Revaluation and Record Fine

HSBC Profit Declines on Debt Revaluation and Record Fine

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The company said today it has cut $3.6 billion of costs, beating its $3.5 billion target. Chief Executive Officer Stuart Gulliver, 53, has closed or sold 47 businesses since he took the top job in 2011, sacrificing revenue and targeting 30,000 job cuts.