News Snapshot:
BRITAIN's largest bank HSBC has been accused of exaggerating the potential financial hit from carving out its Asia business to water down pressure to demerge from its biggest shareholder. Chinese insurer Ping An claimed selling off the high street lender's highly profitable Asia arm would unlock $35bn (£29bn) in value for shareholders that have been starved of payouts, according to sources close to the firm. In its latest set of results, HSBC argued bowing to the demands of Ping An, which owns around eight per cent of the bank, would raise the lender's tax bill and knock its credit rating....
