1. HSBC's CEO is Out in a Shocking Departure, and the Firm is Set to Lay Off Thousands

    HSBC's CEO is Out in a Shocking Departure, and the Firm is Set to Lay Off Thousands
    • HSBC made the surprising announcement late Sunday that John Flint would be stepping down as CEO after just 18 months in the role.
    • Following the departure, HSBC confirmed its plan to cut up to 2% of the bank's workforce of almost 238,000.
    • The London-based bank is just the latest to slash thousands of jobs as the industry faces headwinds from low interest rates, rising trade tensions, and a challenging environment for trading.
    • Shares of HSBC fell more than 2% in early trading on Monday...
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