The head of HSBC has announced the bank's biggest change in years, as it prepares to reduce its headcount by approximately 35,000 jobs around the world.
Interim chief executive Noel Quinn said the number of people employed by the lender will go from 235,000 to 200,000 over the next three years. It means that almost 15% of the bank's workforce will be lost.
The move comes as HSBC plans to slash more than $100 billion (£77 billion) from the bank's risk-weighted assets.
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Banks must hold capital against assets, such as loans, based on their risk, so that they can take the blow if the asset is lost.
The news came as HSBC reported a 33% fall in pre-tax profit for 2019 to $13.35 billion (£10.2 billion), below analysts' expectations.
The bank said the drop was due to "a goodwill impairment" of $7.3 billion (£5.6 billion).
"This arose from an update to long-term economic growth assumptions, which impacted a number of our businesses," HSBC's annual results statement said.
The company warned that the outbreak of coronavirus had caused "significant disruption" for its business, especially in mainland China and Hong Kong.
It is headquartered in London but almost half its revenue and nearly 90% of profit came from Asia in 2018, with much of that coming from Hong Kong.
HSBC said coronavirus might push down lending and transactions in the region, which could reduce its revenue.
Holiday Inn owner InterContinental Hotels Group has posted higher annual profits, but revealed woes amid protests in Hong Kong and weakening performance in a Brexit-hit UK market.
The group - which has 443 hotels in Greater China - said it is also prioritising the "health and safety" of its staff and guests in China amid the coronavirus outbreak, though it gave no update on any expected impact on results in the region.
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InterContinental reported a 12% rise in pre-tax profits to $542 million (£417 million) for 2019.
The group - which also runs the Crowne Plaza brand - said earnings were 8% higher over the year at $630 million (£485 million) as revenues lifted 7%.
It reported a 0.3% fall in global comparable revenue per available room (RevPar) - a key industry measure - as it blamed "macro and geopolitical factors", including the unrest in Hong Kong.
RevPar dropped 4.5% in Greater China as a result.
The UK market also saw a weakening performance at the end of the year, with fourth-quarter RevPar down 2%.
Corporate demand for hotel stays was softer across the regional market in particular.
Over the year as a whole, UK RevPar rose 1%, with London ahead 3% and the regions seeing a 1% fall.
InterContinental said it also benefited from expanding its number of rooms at the quickest pace in more than a decade, with a 5.6% rise in its estate.
Keith Barr, chief executive of InterContinental, said this helped offset the weaker RevPar seen in the hotels market.
He said investments to grow its brands were being helped by its cost-cutting programme, which he confirmed is "on track to deliver $125 million (£96 million) of annual savings, with the majority already realised and being reinvested across the business".
He added: "Given the ongoing impact of coronavirus following the outbreak in China, our top priority remains the health and safety of our colleagues, guests and our partners on the ground, and we are doing all we can to support them at this difficult time."
Nissan shareholders have unleashed their anger at the Japanese car maker's management for stock prices, zero dividends and quarterly losses after the departure of former chairman Carlos Ghosn.
At the company's extraordinary shareholders' meeting on Tuesday, a succession of speakers demanded the company quickly fix diving car sales, and said its executives should give up their pay and work harder to repair a battered brand.
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New Chief Executive Makoto Uchida apologised to shareholders and promised better governance, transparency and financial results, but pleaded for more time.
He said a turnaround plan would be announced in May, which one shareholder immediately criticised as too late.
Mr Uchida is among the four directors whose election was up for decision at the meeting held at a conference centre in Yokohama, near Tokyo, where Nissan is headquartered.
Mr Uchida was tapped in December to replace Hiroto Saikawa, who was Ghosn's successor.
Global sales of Nissan vehicles have gone down. Nissan recorded red ink for the quarter through December, the first such quarterly loss in 11 years.
Mr Uchida said Nissan had prized technology, such as electric vehicles and automated driving, which would be featured in planned models.
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