Daily brief
HSBC reported a profit miss after taking a $400 million hit from alleged fraud in its private credit business, linked to the collapse of a shadow bank with exposure in the UK and Middle East. HSBC shares slumped 6% on the surprise charge.
Shell and INEOS struck a Gulf of Mexico exploration deal.
Google DeepMind workers in the UK voted to unionize amid a deal with the US military.
A UK bond selloff pushed the 30-year yield to its highest since 1998.
The UK is eyeing a role in the EU’s €90 billion Ukraine loan scheme. (ongoing coverage)