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HSBC faces damages of $1.6bn

HSBC Canary Wharf

HSBC said possible damages from a lawsuit filed by a U.S. regulator over improperly sold mortgage-backed securities could cost the bank as much as $1.6bn.

Facebook hires ex-Google executive

For Hire

Facebook has hired Gary Briggs, a veteran of Google and Ebay to be its first chief marketing officer as the world’s largest social network seeks to expand its global brand.

IBM furloughs US employees to cut costs

Pile Of Coins

International Business Machines Corp (IBM) has said it’s requiring the majority of U.S. employees in its hardware unit to take a week off with reduced pay, cutting costs as demand slows for products such as servers.