HSBC beats estimates with 31 percent first-quarter profit rise as costs decline
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HONG KONG/LONDON (Reuters) - HSBC Holdings PLC beat forecasts with a 31 percent rise in quarterly profit, bolstered by a surge in income from its core Asian business and lower costs due to the absence of legal and regulatory expenses borne in the year-ago quarter.Reining in costs has been one of the biggest challenges for HSBC Chief Executive John Flint with the bank last year missing its target of 'positive jaws' - which tracks whether the bank is growing revenues faster than costs.The bank..