HSBC third-quarter profit slides 14%, hit by $1.4 billion in legal charges

Core Viewpoint - HSBC Holdings experienced a 14% decline in third-quarter pretax profit, primarily due to a $1.1 billion charge related to a lawsuit connected to Bernard Madoff's Ponzi scheme [1] Financial Performance - The third-quarter pretax profit fell by 14% compared to previous periods, indicating a significant impact from legal challenges [1] - The $1.1 billion charge reflects the financial repercussions of losing part of an appeal in a long-standing legal case [1]