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HSBC Holdings PLC announces the sale of its Brazilian business to Banco Bradesco SA for $5.2 billion, as part of HSBC's strategy to focus on its Asian operations. This move represents HSBC's retreat from its ambition to be the "world's local bank" and signals a shift towards catering to companies involved in trade between the U.S. and Canada through its small Mexican operation.
Sunday, 2 August, 2015