Press digest for September 29
HSBC•HSBC shifted HK$11 billion ($1.40 billion) of loans off Hang Seng Bank’s balance sheet in the first half; other headlines covered UK policy plans and a lower-than-estimated rise in post-pandemic economic inactivity.
1. HSBC loan shift
HSBC shifted HK$11 billion ($1.40 billion) of loans off Hang Seng Bank’s balance sheet in the first half, in what the report described as a cleanup move after HSBC took full control of the Hong Kong bank.
2. UK policy and data
Other headlines said Andy Burnham would present plans on social care and youth unemployment at the Labour conference, John Healey warned that favourable economic conditions enjoyed by previous governments no longer existed, and the Office for National Statistics said the post-pandemic rise in UK economic inactivity was significantly smaller than previously estimated.
