HSBC trades lower
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HSBC has seen first-quarter profits miss expectations after taking a 1.3 billion dollar (£960 million) hit on bad debts including a fraud-related charge in the UK and impact from the Middle East war.The UK-based lender reported pre-tax profits of £9.
HSBC released a market update on Tuesday, where profit fell after credit charges ballooned to $1.3bn on the Iran war and private credit.