StanChart to raise $5.1b fresh capital through rights issue, cut 15,000 jobs

StanChart to raise $5.1b fresh capital through rights issue, cut 15,000 jobs

Photo: Reuters

Standard Chartered Plc (StanChart) said it would axe 15,000 jobs and raise $5.1 billion (£3.3 billion) by selling new shares as its new chief executive set out plans to restore profitability to a bank hit hard by an economic slowdown in emerging markets.

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