28/10/2019 UK ecanomic alert

Alert
HSBC had a 18% drop in it's pre-tax profit during the 3rd quarter. It's profits before tax hit $4.8bn (£3.8bn) in the 3 months to September, thus missing analyst estimates for that period.

It was struggling with blow back from Brexit, the US-China trade war, ongoing unrest in Hong Kong.

Noel Quinn, HSBC's interim chief executive.said "Parts of our business, especially Asia, held up well in a challenging environment in the third quarter," and "However, in some parts, performance was not acceptable, principally business activities within continental Europe, the non-ring-fenced bank in the UK, and the US.".

Source
https://www.bbc.co.uk/news/business-50204701