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HSBC to launch $2 billion buyback as profit up 57%

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HSBC Holdings PLC 0005 plans to launch a $2 billion share buyback in the second half of the year after strong second-quarter results.

The global banking giant said Monday that net profit for the quarter rose 57% to $3.87 billion from $2.47 billion in the same period a year earlier. Its profit before tax for the period rose 47% to...