HSBC unveils cost cuts in drive to create a 'simple, more agile, focused bank'
1. HSBC plans to save $300 million in 2025 and $1.5 billion by 2026. 2. The bank aims to reduce personnel costs by 8% over two years. 3. HSBC reported $32.3 billion pre-tax profits, below analyst expectations. 4. A $2 billion share buyback is planned to enhance shareholder value. 5. Stock dipped after hitting a 20-year high, currently valued at $201 billion.