HSBC Profit Growth Misses; Plans Buyback of Up to $1 Billion
HSBC reported slower-than-expected quarterly profit growth and announced a share buyback of up to $1 billion. Its shares fell.
By Kosaku NariokaHSBC Holdings reported slower-than-expected quarterly profit growth, sending shares lower despite its announcement of a new share buyback of up to $1 billion.The London-based bank said Tuesday that earnings for the three months ended September were supported by growth in banking ne…