By John Glenday

HSBC bosses have put on a public show of contrition during a grilling by MPs over recent scandals surrounding its tax affairs, by apologising for ‘unacceptable’ practices at its Swiss arm.

Group chief executive Stuart Gulliver has faced a barrage of criticism for helping clients to avoid paying tax, conceding that the episode had damaged ‘trust and confidence’ in the business.

This relates to a series of scandals including manipulation of foreign exchange rates and jerry rigging benchmarks for international interest rates.

HSBC chairman Douglas Flint conceded that there could be more nasty’s lurking in the woodwork after admitting that he did not Read full story ›

Source: The Drum