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HSBC job cuts to reach 50,000 with Turkey, Brazil sell-off

Scandal-hit bank HSBC said on June 9 it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its HQ.

In a statement to the Hong Kong stock exchange it also said it intends to save $5 billion in annual costs within two years.

Romanian Opposition Tables No Confidence Motion

The opposition National Liberal Party, PNL, is to present to parliament a no-confidence motion against the centre-left government led by the head of the ruling Social Democratic Party, Victor Ponta, on Monday.

The motion, which will be debated on June 12, accuses Ponta and his party of refusing to introduce postal voting for Romanians living abroad, amongst other things.

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