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- 'Gold Rush' for Stockholm with Taylor Swift Eras tour
- England captain Buttler buoyed by return of 'superstar' Archer
- Police detain golf world No.1 Scheffler outside PGA course: US media, video
- Coppola shrugs off 'Megalopolis' cost as Stone and Gere hit Cannes
- Slovak PM has new surgery, condition 'still very serious'
- Ukraine says Russian advance pushing ahead as Putin blames Kyiv
- Unbeaten Leverkusen facing three finals in a week, says Alonso
- Germany defender Henrichs extends deal in Leipzig until 2028
- Standard Liege troubles shine light on Everton's would-be buyers
- French reinforcements reach 'calmer' New Caledonia after riots
- EU warns Microsoft to give risk data on Bing AI or face fines
- Allegri on verge of sack after Italian Cup rampage: media
- Newcastle desperate to end season on a high with European spot: Howe
- First aid enters Gaza via US-built pier
- French police kill man trying to set fire to synagogue
- Hong Kong, Shanghai stocks rally on China property support
- Barca coach Xavi set for sack - reports
- 'Couldn't agree terms': Tuchel confirms exit despite Bayern U-turn
- 'As long as it takes': Georgia's Gen Z leading street protests
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- 'We had a great time': Klopp prepares for Anfield farewell
- 'Couldn't agree on terms': Tuchel confirms Bayern exit
- Paul McCartney becomes UK's first billionaire musician
- Energy transition risks critical mineral shortage: IEA
- 'Fight of the century': Fury, Usyk in rare undisputed clash
- Hurricanes survive fightback to regain Super Rugby top spot
- 'Balaclavas and big sticks': New Caledonia tourists trapped by riots
- Thiago, Matip to leave Liverpool at end of season
- Israel says S.Africa 'genocide' case at UN court 'totally divorced' from facts
- Gaza fighting rages after Israel vows to intensify Rafah offensive
- Hong Kong, Shanghai stand out in Asia on China property support
- IEA warns of key energy mineral shortage risk
- Israel says S.Africa 'genocide' case 'totally divorced' from facts
- Defender Matip to leave Liverpool at end of season
- Musk confirms Twitter has become X.com
- Gomes eyes becoming first Portuguese coach to win CAF Cup
- Crisis-ridden Boeing prepares for turbulence at annual meeting
- Hong Kong, Shanghai stand out in Asia after China property move
- Coppola faces press after epic 'Megalopolis' splits Cannes
- China offers to buy up commercial housing to boost property market
- US military says first aid delivered to Gaza via temporary pier
- Muslim professionals quit 'hostile' France in silent brain drain
- China cuts rates, could buy up commercial housing to boost property market
- Costner, Gere, Demi Moore: Hollywood icons on Cannes comeback trail
- Brazil to host 2027 Women's World Cup as Gaza overshadows FIFA meeting
- Palestinians call for Israeli ban as Gaza war spills into football
- Crisis-ridden Boeing hopes for quiet annual meeting
HSBC says chief executive Noel Quinn 'to retire'
Banking giant HSBC said Tuesday that chief executive Noel Quinn would retire after overseeing a "successful transformation" of the firm and record profits during his almost five years in charge.
"During his tenure, HSBC has delivered record profits and the strongest returns in over a decade," it announced in a Hong Kong stock exchange filing.
"He has successfully simplified and focused the bank, most recently with the sale of the Canada and Argentina operations and built a leading position on sustainability."
The news came as the lender reported that pre-tax profits in the first quarter fell by $200 million to $12.7 billion.
The profit reflected a $4.8 billion gain after HSBC completed the sale of its Canada business, partly offset by a $1.1 billion impairment from the planned sale of its Argentina operations, the bank said.
"We completed the sale of our Canada business and agreed the sale of our Argentina business, both of which allow us to focus on markets with higher value international opportunities," Quinn said.
The bank also announced an interim dividend of $0.10 per share and a share buy-back of up to $3 billion, he added.
HSBC on Tuesday said it had begun the process of finding a successor but did not specify when Quinn would step down.
Quinn said he intended to "pursue a portfolio career going forward" following an "intense five years".
B.Shevchenko--BTB