HSBC's CEO Talks Bumper Profits & UK Shop Prices Drop
Bloomberg Daybreak: Europe Edition
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HSBC Announces Share Buybacks
HSBC says it plans to buy back up to another two billion dollars of stock after making a pre-tax profit of 8.8 billion in the second quarter. The lender joins the likes of Barclays, down to Chartered and Deutsche Bank in announcing share buybacks is surging low income boost profitability. Now inflation in UK shops is falling for the first time in two years. Shop prices were 0.1% lower in July than in June.
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