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>> UBS AG Latest News

NOV 04, 2013 - Time

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HSBC Profits Up 23 Percent to $13.5 Billion

(LONDON) — HSBC PLC, Europe’s biggest bank by market value, saw its nine-month profits rise 23 percent as it benefited from cost-cutting and stable revenue. But it also revealed it is one of several banks being investigated for possible manipulation of foreign exchange markets. The bank, which has a big presence in Asia, said Monday its net income grew to $13.5 billion in the nine months through September, from $10.9 billion in the same period last year. Chief Executive Stuart Gulliver said the bank has made further progress toward simplifying and restructuring its operations, ... Read More

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