Gulliver 'sorry' for HSBC mistakes

HSBC boss Stuart Gulliver has apologised for "the mistakes of the past" as the banking giant set aside a further 1.5 billion US dollars (£950 million) to cover the cost of mis-selling claims and a money-laundering scandal in the United States.

The bank said it increased its provision to cover mis-sold payment protection insurance (PPI) by 537 million US dollars (£341.6 million) in the three months to June, bringing the total charge to date to 1.7 billion US dollars (£1.1 billion).