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BLOOMBERG Bloomberg Daybreak Europe July 13, 2024

Manus a warm welcome to daybreak europe. The numbers have dropped on hsbc. Job cuts. Share buybacks have been abandoned. A hugest impression is restructuring with a kitchen over 7 billion. That is a reality check on growth. Cost cuts are aggressive. And the reaction in hong kong not great, dropping as much as 3. 2 . The buyback and the plan to suspend those could be part of that. You talked about the 7. 3 billion charge and the bank still looking for a permanent ceo. That was Something Else we were looking out for. There were some changes in personnel but not at the very top. And cost cuts. Says it has hsbc yet to factor in the impact of that virus. Manus the fact that they have ripped the heart out of the Share Buyback which is one of the reasons why you believe that quinn can turn the business around. He has not been anointed or appointed. They are prevaricating. The goodwil ....

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