In most respects HSBC is no different from any other bank. Plunging activity means lending is down, more money is being put aside to cover losses and profits are being squeezed. There is, though, one crucial difference between Europe’s biggest bank and its rivals: HSBC makes more than half its profits from Hong Kong – and that makes life pretty uncomfortable right now. Put simply, HSBC is caught in the middle of an intensifying cold war between Washington and Beijing and has managed to upset both parties. More mixed messages on obesityLast week’s big thing for the government was Boris Johnson’s campaign to tackle obesity.

Source: The Guardian August 03, 2020 18:11 UTC