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HSBC disbands smaller business banking division, WSJ reports

HSBC (HSBC) is disbanding a business that serves small and medium-size firms in the U.S. as part of greater efforts to focus on markets where it has an edge, the Wall Street Journal’s Joe Wallace reports, citing a spokeswoman. Earlier in the week, the lender laid off 40 staff in the division, which is known as business banking, the author notes.

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