Late Thursday night, London-based HSBC Holdings PLC (NYSE:HBC) reported they had cut 1,100 job positions globally. The cuts are a 4% reduction in their global banking and markets divisions. The company said they experienced a 29% decrease in their first-half net profit for August, but would continue with their current operating strategy. Shares of HSBC were up 23 cents to $81.82 in afternoon trading.

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