A、In Brazil. B、In Turkey. C、In London. D、In Paris. C

One of the world’s biggest banks, HSBC, has announced the first details of a major cost-cutting exercise. It’s to sell its businesses in Brazil and Turkey, reduce its asset base and shrink its investment bank. Kamal Ahmed reports. “Europe’s largest bank has announced that it wants to be significantly smaller. HSBC has revealed that its UK operations will be hit hard as it battles to find over 3.2 billion pounds of cost-savings. Stuart Gulliver, the bank’s chief executive, said that it was time to recognize the world had changed, and the growth in Asia had to be the new focus. The bank is selling businesses in Turkey and Brazil, and will look to reduce the value of its risky assets by 290 billion pounds which is really a great burden to it. HSBC also said that it will make a decision on whether it will retain its headquarters in London by the end of the year.”
Questions 5 to 7 are based on the news report  you have just heard.
5. What is HSBC going to do?
6. What will be the HSBC’s new focus?
7. Where is HSBC’s headquarters at this moment?