HSBC sees mounting credit losses after pandemic halves first-quarter profit

HONG KONG/LONDON (Reuters) - HSBC Holdings PLC on Tuesday warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.HSBC also said the outbreak would mean sustained pressure on its revenues as customer activity declined and lower interest rates squeezed margins, while noting that increased fraudulent activity could lead to "potentially significant" credit losses.The bleak update set out..