Fox News: HSBC to Raise $17.7B, Cut US Jobs as Profits Fall

[riky]

HSBC to Raise $17.7B, Cut US Jobs as Profits Fall
     

HSBC PLC, Europe's largest bank by market value, on Monday reported a 70% drop in 2008 net profit and said it would raise $17.7 billion in new capital through a share issue, while cutting 6,100 jobs as it shutters consumer loan businesses in the U.S.
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