Anonymous ID: cb31fb Feb. 18, 2020, 9:11 a.m. No.8174324   🗄️.is 🔗kun   >>4347 >>4350 >>4385 >>4424

Corrupt Judge Amy Berman Jackson DECLINES Request for New Roger Stone Trial — Sentencing Scheduled for Thursday

 

Demon Judge Amy Berman Jackson DECLINED the request by Roger Stone lawyers for a new trial despite obvious fraud and possible criminal behavior at his trial.

 

Jackson will proceed with sentencing on Thursday.

 

We reported months ago and again in May 2018, that Obama appointed liberal activist Judge, Amy Berman Jackson, was assigned to the most important court case in US history, the Manafort case in the Trump-Russia fake investigation.

 

Sadly, Judge Jackson has a horrible far left record on the bench.

 

In 2013 Judge Jackson rejected arguments from the Catholic Church that Obamacare’s requirements that employers provide cost free coverage to contraceptive services in spite of being contrary to their religious beliefs. This was overturned by the Supreme Court.

 

In 2017 Judge Jackson dismissed the wrongful death suit against Hillary Clinton filed by two of the families who lost loved ones in Benghazi. The families argued that Clinton had done little to help their sons and then lied to cover it up.

 

Then on January 19, 2018, Paul Manafort’s case was reassigned to Judge Jackson on January 19th, a few weeks after being filed.

 

It is unknown why she was assigned to this case or by whom. What is clear is that with her atrocious and slanted record to date, the Deep State and the Mueller team certainly wanted Judge Jackson overseeing the Manafort case.

 

On January 3, 2018, we reported that Paul Manafort filed a suit against the “Deep State” DOJ (Jeff Sessions), Assistant AG Rod Rosenstein and Corrupt Investigator Robert Mueller that should have shut down Mueller’s corrupt investigation!

 

We reported for months on the many criminal and corrupt actions taken by numerous parties related to the Mueller investigation. Mueller never should have taken on the job in the first place due to numerous conflicts. He is best friends with fired leaker and former FBI Director James Comey. He met with Comey shortly before Comey testified with Congress and strategized with him. For this alone he should have recused himself. The team Mueller built to attack President Trump and have him removed is all Deep State liberal attorneys and crooks. Mueller’s record in the past is scattered with actions that let the Clintons off scot-free on numerous occasions when they should have been put in jail.

 

We know that Mueller’s team illegally obtained documents related to the Trump transition team and these emails were protected under attorney-client privilege. Mueller and his entire team should have resigned after this.

 

https://www.thegatewaypundit.com/2020/02/breaking-corrupt-judge-amy-berman-jackson-declines-request-for-new-roger-stone-trial-sentencing-scheduled-for-thursday/

Anonymous ID: cb31fb Feb. 18, 2020, 9:13 a.m. No.8174340   🗄️.is 🔗kun   >>4418 >>4523

All But Two of the Radical Far-Left DOJ Attorneys Who Signed Petition for Fraudulent Mueller Investigation Also Signed Petition for AG Barr to Resign

 

Former New York City Mayor and President Trump’s personal attorney, Rudy Giuliani was on Lou Dobbs Tonight on FOX Business channel to discuss recent events involving the Democrats actions to destroy the US Constitution. The first topic surrounded the list of former DOJ attorneys that asked AG Barr to resign over the weekend.

 

This planned and timed list of far-left actors was just another production by the unconstitutional left.

 

Dobbs: I have to say when I saw this letter, it had 1,100 signatures on it. That’s a lot of signatures but there are 100,000 employees right now working in the Justice Department.

 

Rudy: That’s only a small fraction of the stupid lawyers in Washington, and the ones that have lost any sense of their legal education and have become political hacks.

 

It’s not surprising that the DOJ could find 1,100 far-left attorneys to sign the petition for AG Barr to resign. The Washington Times reported that DOJ employees donate to Democrats over Republicans by a ratio of 20 to 1:

 

In the 2016 election cycle, Justice employees gave $438,077 to Hillary Clinton’s Democratic presidential campaign and $23,874 to that of Republican Donald Trump, according to OpenSecrets.org, an arm of the Center for Responsive Politics, which crunched the numbers based on Federal Election Commission reports.

 

What’s also not surprising is that all the DOJ attorneys who signed the petition for former DAG Rod Rosenstein to create the fraudulent Mueller Special Counsel, also signed the petition for AG Barr to resign, with the exception of only two individuals.

 

In 2017, a group of 180 far-left attorneys from New York signed a petition urging for a fraudulent Special Counsel:

 

A group of 180 former U.S. Attorneys and Assistant U.S. Attorneys for the Southern District of New York have sent a bipartisan letter to Deputy U.S. Attorney General Rod J. Rosenstein asking that the Department Of Justice appoint a special counsel “to oversee the FBI’s continuing investigation of Russian interference with the 2016 Presidential election and related matters.”

 

Of course this was all pre-planned as well as the corrupt attorneys asked for a corrupt investigation to remove the President they hated from office. Here’s the list with some additional observations on a few of the participants:

 

Jonathan S. Abernethy – One of the 720 former federal prosecutors who signed letter saying Trump would’ve been prosecuted if he weren’t president.

Elkan Abramowitz – Complained about Comey reopening Clinton email investigation. Is also Weinstein’s lawyer.

Richard F. Albert

Marcus A. Asner – Donated only to D candidates

Martin J. Auerbach – Has a client who would benefit if Trump wasn’t POTUS, and is an Obama crony

Miriam Baer – Doesn’t get more swampier than she

Thomas H. Baer – Democrat strategist/Clinton supporter

Kerri Martin Bartlett

Maria Barton

Andrew Bauer

Bernard W. Bell – Bill Clinton defender

Richard Ben-Veniste – Worked on the Benito Romano investigation, which places him close to Preet Bharara/Bruce Ohr/Lisa Page/Comey/Gaeta

Neil S. Binder

Laura Gossfield Birger – Alex Van Der Zwaan’s attorney

Ira H. Block – I’m betting he has something to do with the Tokhtakhunov investigation

Suzanne Jaffe Bloom – Clinton donor

Barry A. Bohrer

Daniel H. Bookin – Clinton donor

Jane E. Booth

Katharine Bostick – Microsoft

Laurie E. Brecher – Former Covington & Burling atty

David M. Brodsky – NeverTrumper

 

https://www.thegatewaypundit.com/2020/02/revealed-all-but-two-of-the-radical-far-left-doj-attorneys-who-signed-petition-for-fraudulent-mueller-investigation-also-signed-petition-for-ag-barr-to-resign/

Anonymous ID: cb31fb Feb. 18, 2020, 9:16 a.m. No.8174372   🗄️.is 🔗kun   >>4399

Libyan General Haftar’s forces claim they've bombed Turkish ship ‘loaded with weapons & ammo’ at Tripoli port

 

A media arm of the Libyan National Army (LNA) has said their forces targeted a cargo vessel that ferried ammunition and weapons from Turkey to the embattled port of Tripoli, where the UN-backed government is headquartered.

 

“The Turkish ship loaded with weapons and ammunition that docked this morning at the port of Tripoli was destroyed,” reads a short statement published by an LNA Facebook account. It didn’t elaborate on the attack, which appears to have taken place on Tuesday afternoon.

 

However, Brigadier Khaled Al Mahjoub of the LNA told Al-Arabiya that the vessel had arrived in violation of an arms embargo and was carrying weapons for armed militias.

 

READ MORE: EU leaders agree to enforce Libya arms embargo with warships, despite fears of spike in migration

 

Ghassan Salame, UN envoy for Libya, also confirmed that the Tripoli port was attacked, lamenting that “the truce is very fragile.”

He was optimistic, however, that “nobody has so far reneged on the principle of accepting the truce and the political process is trying to find a way to move forward.”

 

Pictures that emerged on social media later in the day show plumes of smoke billowing from the Tripoli harbor.

 

Led by General Khalifa Haftar, LNA forces seized control of most of Libya, and at one point threatened to capture Tripoli. Haftar’s advance raised angered Turkey which backs forces loyal to the Government of National Accord (GNА).Turkish President Recep Tayyip Erdogan previously vowed to teach Haftar “a lesson,” then promised to deploy troops to the war-ravaged country. However, he later said Ankara sent a group of “advisers” instead of a full-fledged fighting force.

 

Meanwhile, the GNA itself seems to be wary of Turkish intervention; Foreign Minister Abdul Hadi Al-Hweij said on Monday that Erdogan is “the farthest from a peaceful settlement” of all those involved.“This is obviously not a Turkish interference, but an aggression. It’s a new attempt by Turks to conquer Libya,” the official stated.

 

The GNA has been engaged in a prolonged conflict with the Tobruk-based LNA. The archfoes managed to agree to a fragile ceasefire at a recent conference in Berlin. It still remains in place, but no binding agreement has yet been signed. Haftar held a meeting with GNA leader Fayez al-Sarraj in Moscow, set up by Russia’s Foreign Ministry, last month.

 

Although the warring sides failed to come to an agreement, world powers and international organizations welcomed the Russian peace initiative.

 

https://www.rt.com/news/481107-turkish-ship-destroyed-tripoli/

 

Haftar is a clown

Anonymous ID: cb31fb Feb. 18, 2020, 9:18 a.m. No.8174398   🗄️.is 🔗kun   >>4523

Breaking: President Trump Pardons former 49ers Owner Eddie Debartolo, Jr. at White House

 

Debartolo Jr. is an American businessman best known for his 23-year ownership of the San Francisco 49ers of the National Football League (NFL).[2] The five Super Bowls the 49ers dynasty won in 14 years were a record total for a single owner.

 

Several NFL stars joined Debartolo, Jr. at the Trump White House today for the announcement.

 

CBS San Francisco reported:

 

President Donald Trump signed an executive order Monday granting clemency for Edward DeBartolo Jr. for his 1998 involvement in the corruption case against former Louisiana Gov. Edwin Edwards.

 

The NFL forced DeBartolo to turn over ownership of the 49ers to his sister, Denise York, after his conviction of failing to report a felon. Former 49ers star Jerry Rice and Ronnie Lott were at the White House for the announcement.

 

https://www.thegatewaypundit.com/2020/02/breaking-president-trump-pardons-former-49ers-owner-eddie-debartolo-jr-at-white-house/

Anonymous ID: cb31fb Feb. 18, 2020, 9:20 a.m. No.8174410   🗄️.is 🔗kun   >>4523

US ‘shamelessly & impudently’ PILLAGES Syrian oilfields but forbids supply of hydrocarbons to Damascus, says Russian defense chief

 

Russia’s Defense Minister Sergey Shoigu slammed the US for occupying Syrian oilfields, calling it a major obstacle to the reconstruction of the country after the conflict.

 

“The oil fields… are controlled by the US. There’s shameless, impudent pillage of the wealth that belongs to Syria and the Syrian people taking place,” Shoigu said during a visit to the Italian capital Rome.

 

At the same time, the sanctions imposed by Washington against Damascus ban any oil shipments to Syria, putting the country in a tight spot.

 

“Most of the people, who are now suffering in Syria, are in need of heat, hot water and electricity, which — as we understand it — come from hydrocarbons that are forbidden to be supplied there,” the minister pointed out.

 

Washington has occupied oil fields in northeast Syria in October after the retreat of Islamic State (IS, formerly ISIS/ISIL) terrorists. It said the move was needed to prevent the terrorists from returning to those areas.

 

US officials have acknowledged that the oil belongs to the Syrian people. However, Russia has said that the Americans have been smuggling the hydrocarbons to other countries, with the convoys protected by US private security firms.

 

https://www.rt.com/news/481122-us-pillages-syrian-oil-russia/

Anonymous ID: cb31fb Feb. 18, 2020, 9:21 a.m. No.8174417   🗄️.is 🔗kun   >>4523

Trump Sanctions Rosneft, Russia's Largest Oil Company, For Helping Maduro In Venezuela

 

The Trump administration announced significant new sanctions on Tuesday targeting Rosneft, Russia’s largest oil company, for helping Venezuelan leader Nicolas Maduro circumvent U.S. sanctions. Specifically, the sanction targets Rosneft Trading SA, a unit of Russia's state-owned oil giant Rosneft, as well as company’s executive Didier Casimiro, over the company’s actions in Venezuela, senior administration official said in call with reporters.

 

The US accused Rosneft of propping up Venezuela’s oil sector, the admin official said, characterizing the company as the “primary culprit” of a campaign to evade Washington’s pressure campaign on the Maduro regime.

 

As the US further details, the network of deception sometimes involves transferring oil to new ship before sale, typically to Asia. Occasionally, ships will also change their names, or lie about source of oil. As McClatchy details, "the administration has accused Rosneft of sending tankers to Venezuelan ports without their tracking systems on — a violation of international law and a lifeline from sanctions on Venezuela’s own state-run oil company, PDVSA, that has allowed Maduro to indirectly sell oil to China and India. Officials also said that Rosneft was orchestrating a strategy of transferring Venezuelan oil in international waters for shipment to Asia and West Africa."

 

US officials said that sanctions would hit Rosneft unit, as well as Casimiro’s U.S. assets but stand as worldwide prohibition, and warned that the new U.S. sanctions will affect “anyone engaging in activity” with Rosneft Trading S.A.

 

"This is a reaction to the growing and increasingly central role of Rosneft in the affairs of Venezuela,” one senior administration official said, “with Rosneft now trading over half of the oil now coming out of Venezuela, and actively evading sanctions — engaging in ruses, engaging in deception."

 

White House officials acknowledged earlier this month that sanctions on the Russian state-run firm were “on the table.” But President Donald Trump’s decision to proceed marks a significant escalation in his pressure campaign against Maduro and a rare confrontation with Russia’s president, Vladimir Putin.

 

“It’s essentially a secondary sanction,” said Fernando Cutz, a former Director for South America at the National Security Council during the Trump administration now at the Wilson Center. “That is a huge and consequential action — Rosneft is a huge company.”

 

Officials said they were confident that Tuesday’s action would not rattle oil markets, despite private concerns within the administration in recent months that such a move might destabilize prices. All of Rosneft’s assets in the United States, or those held by U.S. persons, will be blocked.

 

Trump is said to have cleared Tuesday’s sanctions directly. “This decision was cleared by the president himself,” a senior administration official said.

 

Secretary of State Mike Pompeo discussed the sanctions with Russian Foreign Minister Lavrov on Saturday, another official said, and John Sullivan, the U.S. ambassador to Russia, met with the Russian foreign minister to discuss the coming sanctions on Rosneft on Monday in Moscow.

 

https://www.zerohedge.com/energy/trump-sanctions-rosneft-russias-largest-oil-company-helping-maduro-venezuela

Anonymous ID: cb31fb Feb. 18, 2020, 9:23 a.m. No.8174430   🗄️.is 🔗kun

Federal Judges to Hold Emergency Meeting Over Barr and Trump

 

Just weeks after President Donald Trump was acquitted by the Senate of bogus partisan impeachment charges by the House of Representatives, a group of federal judges will hold an ’emergency meeting’ on Tuesday. The judges will meet to discuss the intervention by Attorney General William Barr against the abusive proposed sentence for Roger Stone and the criticism by President Trump of the proposed sentence and the federal judge overseeing the case, Judge Amy Berman Jackson, as well as other actions by Barr and Trump regarding ‘politically sensitive’ cases before the judiciary.

 

DEEP STATE REVOLT: Federal Judges to Hold Emergency Meeting Over Barr and Trump

Avatar by Kristinn Taylor February 18, 2020 1432 Comments

 

4.9KShare 294Tweet Email

 

Just weeks after President Donald Trump was acquitted by the Senate of bogus partisan impeachment charges by the House of Representatives, a group of federal judges will hold an ’emergency meeting’ on Tuesday. The judges will meet to discuss the intervention by Attorney General William Barr against the abusive proposed sentence for Roger Stone and the criticism by President Trump of the proposed sentence and the federal judge overseeing the case, Judge Amy Berman Jackson, as well as other actions by Barr and Trump regarding ‘politically sensitive’ cases before the judiciary.

 

The emergency meeting will be held via conference call with officers and members of the executive committee of the 1,100 member Federal Judges Association because, association president Judge Cynthia Rufe (a Bush 43 appointee) said, “We just could not wait until April to discuss matters of this importance.” The judges’ annual meeting is set for April 18-19 in Denver.

 

DEEP STATE REVOLT: Federal Judges to Hold Emergency Meeting Over Barr and Trump

Avatar by Kristinn Taylor February 18, 2020 1432 Comments

 

4.9KShare 294Tweet Email

 

Just weeks after President Donald Trump was acquitted by the Senate of bogus partisan impeachment charges by the House of Representatives, a group of federal judges will hold an ’emergency meeting’ on Tuesday. The judges will meet to discuss the intervention by Attorney General William Barr against the abusive proposed sentence for Roger Stone and the criticism by President Trump of the proposed sentence and the federal judge overseeing the case, Judge Amy Berman Jackson, as well as other actions by Barr and Trump regarding ‘politically sensitive’ cases before the judiciary.

 

The emergency meeting will be held via conference call with officers and members of the executive committee of the 1,100 member Federal Judges Association because, association president Judge Cynthia Rufe (a Bush 43 appointee) said, “We just could not wait until April to discuss matters of this importance.” The judges’ annual meeting is set for April 18-19 in Denver.

 

Judge Cynthia Rufe, screen image via YouTube, September 23, 2014.

 

The meeting comes on the heels of a letter signed by over 1,000 former Justice Department Deep State operatives calling on Barr to resign for overruling the punitive sentence of 7-9 years in prison proposed by federal prosecutors for Stone. The four prosecutors in the case resigned in protest over Barr’s intervention.

 

Judge Jackson will preside over a phone hearing in the Stone case on Tuesday. Stone has asked for a new trial after it was reported last week the foreman of the jury that convicted him is a virulent anti-Trump Democrat who posted about Stone’s case.

 

https://www.thegatewaypundit.com/2020/02/deep-state-revolt-federal-judges-to-hold-emergency-meeting-over-barr-and-trump/

Anonymous ID: cb31fb Feb. 18, 2020, 9:25 a.m. No.8174452   🗄️.is 🔗kun   >>4523

Gold Surges Back Above $1,600, 30Y Yield Tumbles Below 2.00%, Stocks 'Dip'

 

Gold futures have just surged back above $1600 as investors worldwide charge into safe-havens this morning (bonds are also bid, as is the USDollar) as it becomes clearer and clearer that China is lying and no one really knows the situation of the Covid-19 pandemic.

 

Gold is back near Iran-Missile-Strike highs, breaking back above $1600… if we close here this will be the highest close for gold since April 2013…

 

https://www.zerohedge.com/markets/gold-surges-back-above-1600-30y-yield-tumbles-below-200-stocks-dip

Anonymous ID: cb31fb Feb. 18, 2020, 9:27 a.m. No.8174463   🗄️.is 🔗kun

"It's A Disease, Not A Housing Crisis" - Trader Exclaims, Not Every Problem Can Be Solved By Central Bankers

 

This has been what looks like an awfully cheap lesson. And few have any interest in learning from it. Scan down the day’s headlines and there is no shortage of items about the ill-effects on businesses from disruptions caused by the coronavirus outbreak. Turn on the TV or radio and it has been more of the same. Naturally, the next thing to do was fire up the launchpad and see what was the damage.

 

The good news has been, so far, that Nasdaq 100 futures are down less than 1%. That may also be the bad news. We last saw these prices last Thursday. For Apple, one would have to go back further – to the beginning of last week. If this resiliency was really based on an educated assessment of the long-term prognosis for the disease, or even the extent of business interruptions, it would be one thing. But as we are learning, and likely to keep learning, that really can’t be done with any certainty.

 

What traders, with good reason, choose to believe is that the authorities, in China and all over the world for that matter, will respond with yet more liquidity. It is taken as a given. They have been assured that the central banks are watching things carefully. So you don’t have to.

 

On the one hand that is a comforting message for investors. On the other hand, it’s a bad message to be sending.

 

https://www.zerohedge.com/markets/its-disease-not-housing-crisis-trader-exclaims-not-every-problem-can-be-solved-central

Anonymous ID: cb31fb Feb. 18, 2020, 9:28 a.m. No.8174479   🗄️.is 🔗kun   >>4523

'This guy is a joke': Sadiq Khan triggers Twitter after saying 'heartbroken' Londoners should be able to keep EU citizenship

 

London Mayor Sadiq Khan is urging the UK government to allow Londoners and other British nationals who are upset over Brexit to retain "associate citizenship" of the EU, provoking both anger and praise on social media.

 

Ahead of his visit to Brussels on Tuesday to discuss the issue with senior EU officials, Khan claimed he could not think of a better way of resolving differences between 'Leavers' and 'Remainers' than to allow UK citizens who still feel European to keep their link to the EU.

 

Like so many Londoners, I am heartbroken that we are no longer a member of the European Union, but that doesn't mean our country's future can't be closely linked with the rest of Europe.

 

The idea of associate citizenship – which has been earmarked by several high-profile EU officials – could involve individuals paying a fee in order to retain many bloc "benefits" after Brexit, including the right to move freely between member states.

 

The London mayor's comments have riled many Brexiteers online, with many suggesting he was in fact doing the opposite of bringing the country together by attempting to keep Londoners within the EU. One annoyed Leaver tweeted: "This guy is a joke. We are out and that means all of us."

 

Others on Twitter questioned why Khan was involving himself in any post-Brexit negotiations with Brussels, suggesting that he should instead be focusing on the knife crime epidemic currently blighting the UK capital.

 

https://www.rt.com/uk/481097-khan-london-eu-citizenship-brexit/

 

https://www.rt.com/uk/481097-khan-london-eu-citizenship-brexit/

Anonymous ID: cb31fb Feb. 18, 2020, 9:30 a.m. No.8174489   🗄️.is 🔗kun   >>4510 >>4544

George Soros: "Remove Zuckerberg From Facebook Now… He'll Get Trump Re-elected"

 

In a brief but scathing letter to The Financial Times, billionaire George Soros demands that both Mark Zuckerberg and Sheryl Sandberg should be removed from their leadership roles at Facebook or else President Trump will get re-elected.

 

The two Facebook leaders are, according to the leftist puppet-master, allegedly “engaged in some kind of mutual assistance arrangement with Donald Trump that will help him to get re-elected.”

 

Full letter below:

 

Mark Zuckerberg should stop obfuscating the facts by piously arguing for government regulation (“We need more regulation of Big Tech”, February 17).

 

Mr Zuckerberg appears to be engaged in some kind of mutual assistance arrangement with Donald Trump that will help him to get re-elected. Facebook does not need to wait for government regulations to stop accepting any political advertising in 2020 until after the elections on November 4. If there is any doubt whether an ad is political, it should err on the side of caution and refuse to publish. It is unlikely that Facebook will follow this course.

 

Therefore, I repeat my proposal, Mark Zuckerberg and Sheryl Sandberg should be removed from control of Facebook. (It goes without saying that I support government regulation of social media platforms.)

 

George Soros

 

Paris, France

 

Soros' exultations follow his late January NYTimes op-ed also saying that Mark Zuckerberg should not be control of Facebook, claiming that the social media company is going to get Trump re-elected - because it’s good for business.

 

 

"I repeat and reaffirm my accusation against Facebook under the leadership of Mr. Zuckerberg and Ms. Sandberg. They follow only one guiding principle: maximize profits irrespective of the consequences. One way or another, they should not be left in control of Facebook. "

 

One can't help but think that Soros' feathers are ruffled here for him to come so hard after Zuck - does he think it's all over for Dems in November?

 

https://www.zerohedge.com/political/george-soros-remove-zuckerberg-facebook-now-hell-get-trump-re-elected

Anonymous ID: cb31fb Feb. 18, 2020, 9:31 a.m. No.8174502   🗄️.is 🔗kun

HSBC To Cut 35,000 Jobs, Shed $100 Billion In Assets As Profits Plunge

 

Banks around the world are supposed to benefit the most from central banks inflating assets, and hyperinflating stock markets, but over the past few years, central banks have instead caused some of the biggest bank job cuts in half a decade.

 

HSBC, Europe's largest bank and troubled lender, although not nearly as troubled as Deutsche Bank, said it would cut upwards of 35,000 jobs, shed $100 billion in assets, and take a massive $7.3 billion hit to goodwill as part of a major overhaul under Chairman Mark Tucker, the company said in a press release on Tuesday morning.

 

This comes months after HSBC's interim CEO Noel Quinn unveiled plans to "remodel" large parts of the bank. The restructuring of the London-based bank is being led by Quinn, who replaced John Flint in August on an interim basis. Quinn is vying for the permanent role of CEO, which the bank said will be decided this year.

 

Europe's biggest bank by assets is expected to focus more on Asia and the Middle East, while it winds down operations in Europe and the US; HSBC derives at least 50% of its revenue in Asia. The bank said net profit plunged 53% to $5.97 billion last year, due to the $7.3BN goodwill hit and also thanks to the record low interest rates and NIRP unleashed by central banks.

 

Tucker said the bank faces substantial challenges in the UK, Hong Kong, and mainland China. He also issued a warning over the Covid-19 outbreak in China and quickly spreading across Asia to Europe, indicating that the virus could impact the bank's performance this year.

 

Quinn confirmed the bank would cut 15% of its workforce over the next two-three years. This is on top of the 10,000 jobs it axed in Oct.

 

"The totality of this program is that our headcount is likely to go from 235,000 to closer to 200,000 over the next three years," Quinn told Reuters. adding that "HSBC will be “exiting businesses where necessary."

 

“Around 30% of our capital is currently allocated to businesses that are delivering returns below their cost of equity, largely in global banking and markets in Europe and the U.S.,” he noted.

 

In its long-struggling U.S. arm, Quinn said HSBC will cut assets in investment banking and markets by almost half, and shut around 70 of its 229 branches. As of September, HSBC was the U.S.’s 14th largest commercial bank according to Federal Reserve data, with around $181 billion assets. Mr. Quinn said he had considered putting the unit up for sale but decided against it because the U.S. is a crucial part of the bank’s global network.

 

HSBC shares slid 6% on the restructuring news on Tuesday morning:

 

https://www.zerohedge.com/markets/hsbc-cut-35000-jobs-profits-plunge