HSBC profit rises but revenue hit by muted economic growth

By using Steve Slater LONDON (Reuters) – HSBC Holdings Percentsaid pretax profit rose 10 percent to $14.1 billion within the first half of, as its three-12 months price-slicing plan started to pay off, however cash fell wanting expectations as a result of a fall in earnings. Its shares, which had spiked to a greater than two month high the previous trading session, were down 3.4 p.c by means of 0843 GMT on Monday. Europe’s biggest bank’s pretax revenue used to be up from $12.7 billion a 12 months in the past but fell in need of the common $14.6 billion expected through analysts, on the foundation of figures from 14 banks and brokerages polled by using the company. …