HSBC axes 450 but denies it is to abandon equities

HSBC has denied it intends to pull out of equities despite confirming that it plans to cull almost a third of its 1,500 equities staff world-wide.

A bank spokesman said on Friday that the job cuts had been announced by Stuart Gulliver, co-head of investment banking who is leading the re-structuring of the business.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached