HSBC chief executive John Flint steps down

The chief executive of HSBC has stepped down after less than two years in the job, as the banking giant revealed solid first half profits but warned it faced "challenging" geopolitics.

The bank has also said it could cut nearly 5,000 jobs due to a weaker outlook, and the departure of John Flint comes as trade-war tensions flare between the United States and China.

Under Flint's leadership, the bank has pivoted to Asia, which accounted for more than half of its operating income in the second quarter.