BUSINESS LIVE: HSBC profits plunge; Hammerson in sale talks; Purplebricks reports revenue slide

by

BUSINESS LIVE: HSBC profits plunge; Hammerson in sale talks; Purplebricks reports revenue slide

By This Is Money

Published: | Updated:

  

HSBC has reported a 65 per cent drop in pre-tax profit in the first half of the year as the UK’s largest bank was hit by interest rate cuts and  the associated coronavirus pandemic disruption.

The bank reported profits of $4.3 billion (£3.2 billion) in the half year to June 30, down from $12.4 billion (£9.5 billion) in the same period in 2019.  

Troubled shopping centre landlord Hammerson is trying to raise extra cash by selling its stake in a European arm of the business, and could go also tap shareholders for money.

The business has suffered from unpaid rents during the coronavirus pandemic as shops were forced to bring down the shutters.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Leave a Comment