HSBC hit by $400m UK fraud-related charge; Rachel Reeves ‘clashed with Scott Bessent’ over Iran war criticism – business live

Rolling coverage of the latest economic and financial news

• Australia hikes interest rates to 4.35% in blow to mortgage holders

Ouch. Shares in HSBC have dropped by over 5% at the start of trading in London.

HSBC (-5.2%) are the biggest faller on the FTSE 100 share index, after the bank reported a drop in profits this morning and that $400m fraud-related loss in the UK.

Continue reading…Rolling coverage of the latest economic and financial newsAustralia hikes interest rates to 4.35% in blow to mortgage holdersOuch. Shares in HSBC have dropped by over 5% at the start of trading in London.HSBC (-5.2%) are the biggest faller on the FTSE 100 share index, after the bank reported a drop in profits this morning and that $400m fraud-related loss in the UK. Continue reading…