HSBC profits increase by 10% in first half of year

HSBC has reported a 10% rise in profits for the first half of the year.

Europe's biggest bank said pre-tax profits in the first six months were $13.6 billion (£8.7bn) - up from $12.3 billion a year earlier.

The lender was boosted by huge profits in Hong Kong.

It also announced the sale of its Brazil unit to Banco Bradesco for 17.6 billion reais ($5.2 billion).

The results come as HSBC considers whether to move its headquarters from London to Asia.