nabila: that is exactly right.ut of the domestic business in the u.s., they closed 90 branches. so china is their very main focus. so any kind of rupture in the chinese market, they are very much exposed to, and investors will really be looking out for more news on that to see if there is any clarification that hsbc can give on those issues as well. haidi: not be a lame t -- nabila ahmed there. we will be talking about those results in a few hours. here is a quick check of the latest business flash headlines. exxon hinted at a strategic overhaul after reporting its highest profits since the start of the pandemic. they saw profit of $4.7 billion in the second quarter, it's best period since late 2019. they will -- malaysia has accused bytedance of illegal operations, ordering them to end mobile applications in the country by next week. a statement said they should also stop marketing to malaysian consumers. they are aware of the notice, adding that bytedance.com does not -- binance.com does not operate out of malays

nabila: that is exactly right.t we are seeing now is that the banks that announced these pay rises earlier on like morgan stanley, deutsche bank, they raise their pay until 100,000. they are now looking like they are falling behind because you are seeing goldman sachs and jeffries going to 110,000 so these banks that announced their pay rises earlier will have to do something to bridge that gap an extra bonus payments are that thing because you cannot have these discrepancies at the junior ranks when all the bankers are pretty much in line and have not yet started to stand out from each other. that is where the talent is and there is a lot of poaching going on between the banks so if you want to retain your staff and attract young guys, you are going to have to pay the market rate higher than others. dani: thank you so much for the update. i feel like we are probably going to have to have you on again to give us another update on raises their salary next. let me just say, you might not want that job because it woul

nabila: look, this is the ceo's first big move.announced earlier this year she would be selling around 13 markets around the world out of retail and consumer banking. citi can steal the valuation of about $3.4 billion australian. citi will continue to serve as institutional clients as well. for nav, it doubles their credit card business and makes them number two and australia, setting them up to go head-to-head against the biggest. so this is the boldest move we have seen yet from their ceo, who of course took on the job about 1.5 years ago. there is a spend on technology that will be attached to this deal, because they have to build a new tech platform. investors are wondering if yvette -- if a bet like this on a credit card market that is shrinking will ultimately pay off. shery: the bill ahmed with the latest. haidi: this is a story we have been tracking in terms of the trend among the big banks. creating all these incentives to try and retain junior staff. after that infamous slideshow were we saw a litany of complaints by thes

nabila: they are preparing for a range of scenarios.ng on vaccines to get the economy up and running. the ceo today said the ongoing rollout of the vaccination program and government support packages will be the key to helping australians and the economy on a path back toward full economic activity. on the other point for the bank, he also said that they do expect ongoing economic impact and earnings pressure from lower interest rates. so you have the impact of lower interest rates and then the impact of the lockdowns. shery: coming up, the outlook for commodities with cba analyst seeing brett at $85 a barrel by year end. the market opens in sydney, seoul, and tokyo are next. this is bloomberg. ♪ comcast nbcuniversal is investing in entrepreneurs to bring what's next for sports technology to athletes, teams, and fans. that's why we created the sportstech accelerator, to invest in and develop the next generation of technology that will change the way we experience sports. we've already invested in entrepreneurs like ane swim, who develop