HSBC Profits Rise on Cost-Cutting; Schneiderman Set to Sue; B of A, ...

Receiving Wide Coverage ... HSBC Earnings: HSBC's first quarter earnings almost doubled year over year, with pre-tax profit rising to $8.4 billion compared with $4.3 billion during the same period in 2012. The increase is attributed largely to all that cost-cutting the bank has been doing and a decline in bad debts. Expect the cost-cutting efforts to continue. Per the FT, "the bank is expected to close or sell a further eight to 10 businesses this...