HSBC boss 'sorry' for bank mistakes

HSBC boss Stuart Gulliver apologised for “the mistakes of the past” today as the banking giant set aside a further $1.5bn to cover the cost of mis-selling claims and a money-laundering scandal in the US.

The bank said it increased its provision to cover mis-sold payment protection insurance (PPI) by $537m in the three months to June, bringing the total charge to date to $1.7bn.