HSBC profits plunge amid pandemic and escalating US-China tensions

By Jerome Taylor HSBC said Monday profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions. The lender reported post-tax profit of $3.1 billion while pre-tax profit was $4.3 billion, a 64 percent drop on the same period last … Continue reading HSBC profits plunge amid pandemic and escalating US-China tensions