Teen stars from iconic 80s movie reunite and are unrecognisable 35 years on

TWO former child stars of Honey, I Shrunk the Kids have teamed up for a special reunion – sending fans wild.Amy O’Neill and Thomas Wilson Brown both appeared in the hit 90s flick, which followed the chaos that ensued when scientist Wayne Szalinksi (Rick Moranis) accidentally shrunk his children and the neighbour’s kids.6Thomas Wilson Brown and Amy O’Neill in the 1989 flickCredit: Alamy6The former child stars are unrecognisable 35 years onCredit: InstagramAmy O’Neill, 53, played Moranis’ daughter in the movie while Thomas Wilson Brown, 51, starred as Little Russ, the neighbour’s offspring.The child actors appeared on social media promoting a Halloween event.Blonde Amy looked all grown up wearing a baseball cap, pearl necklace and blue patterned dress with her glasses attached.Thomas stood next to her in a blue checked shirt, while promoting the bash looking tanned and chiselled. Read more on 80s iconsThe performers told fans on Instagram: “I’m Amy O’Neil. I’m Thomas Brown.“And we got shrunk in Honey, I Shrunk the Kids. We’re going to be coming out to Illinois for the Haunted Halloween Flea Market.”The continued: “Please join us. Come out. It’s going to be really fun. We’d love to meet you.”Fans commented: “The duo are back.” A second wrote: “So cool.” A third penned: “Just amazing.”The award-winning classic movie, starring Moranis and Marcia Strassman, celebrated its 35th anniversary this year.The film produced two sequels, Honey, I Blew Up The Kid in 1992 and Honey, We Shrunk Ourselves in 1997.Ghostbusters star Moranis went on to star in Parenthood, The Flintstones and the two sequels to Honey, I Shrunk the Kids.Five ageless 80’s icons”M*A*S*H star Strassman sadly died in March 2007 from advanced breast cancer, aged just 66.It was reported in May 2019 that Walt Disney were set to make a reboot of the much-loved movie starring the voice of Frozen’s Olaf, Josh Gad. But in June 2023, he revealed: “A lot of you are ask me what’s going on with this film. “Truth is, we were inches from starting and then COVID hit, inches from starting again and then my schedule exploded with conflicts, inches from starting again and the budget got the best of us.” In 2020, Moranis said about the movie: “If that were made today, it would be made very differently, probably just with green screen and computer-generated stuff.”Director Joe Johnston “had the vision” for the film.Moranis added. “And on that movie, I was really an actor. “I think I drove him crazy a couple of times trying to get more comedy into it because I was always looking for how to disrupt and get some more jokes in, and poor Joe just wanted to make his movie.”Moranis’ wife, costume designer Ann Belsky, died of breast cancer in 1991, and the actor retreated from Hollywood.Read more on the Scottish SunHe previously told The Hollywood Reporter: “I took a break, which turned into a longer break. “Stuff happens to people all the time, and people make adjustments, change careers, move to another city. Really, that’s all I did.”6Teen stars Amy and Thomas reunited for a Halloween eventCredit: Instagram6The iconic 1989 movie was set to have a reboot in 2020Credit: Alamy6Thomas played the next-door-neighbour Little RussCredit: YouTube6Honey, I Shrunk the Kids starred Rick MoranisCredit: AlamyWhat the actors did nextAmy O’Neill1982 Family Ties1984 Murder, She Wrote1986 The Young and the Restless1987 Star Trek: The Next Generation1989 Honey, I Shrunk the Kids 1989 Desperate for Love with Christian Slater1992 Honey, I Blew Up the KidThomas Wilson Brown1990 Welcome Home, Roxy Carmichael, alongside Winona Ryder.1990–1991 Knots Landing1993 Beverly Hills, 902101993/1994 Boy Meets World1994 Days of Our Lives2001 Pearl Harbor2003 CSI: Crime Scene Investigation2012 The Mooring2020 Prop Culture

Scientists claim they are just 0.1% away from bringing extinct predator back from dead after it vanished 100 years ago

AN extinct species could make its comeback nearly 100 years after it disappeared as scientists claim they are 99.9% done with the animal’s revival.A biotech company, based in Dallas, Texas, revealed it has resurrected  the long-lost Tasmanian tiger.5Scientists claimed they are 0.01% away from bringing back the extinct Tasmanian tigerCredit: AFP5The Tasmanian tiger was last seen alive nearly a century agoCredit: Colossal Biosciences5Ben Lamm (pictured) is the CEO of the biotech company Colossal Biosciences who have spearheaded the projectCredit: The Mega Agency5The last known Tasmanian tiger photographed at Berlin zoo in 1933Credit: AlamyThe last known thylacine, also known as a Tasmanian wolf, died on 7 September 1936 in captivity and countless expedition efforts were unable to find the animal in the wild.Biotech company Colossal Biosciences, understood to be the world’s first de-extinction company, has claimed it has nearly completed its resurrection project for the Australian animal.This group said it has completed 99.9% of tiger’s genome reconstruction and added the remaining gaps will be filled soon.Attempts to bring back this animal started in 2017 when a 107-year-old tiger pouch, preserved in alcohol, was put through gene sequencing.READ MORE ON ANIMALSThis attempt failed as too many genetic gaps appeared.Colossal Biosciences started their resurrection attempts in 2022 when they sequenced a 120-year-old thylacine tooth to fill the previous gaps.A professor and member of Colossal Biosciences’ scientific advisory board, Andrew Pask, explained how this sample led to their breakthrough.“The sample we were able to access was so well preserved that we could recover fragments of DNA that were thousands of bases long,” Pask told the New Scientist.The company revealed its next step would be to implant the finished genome into a Dasyurid egg, a marsupial believed to be the Tasmanian tiger’s closest relative.Colossal Biosciences had predicted the first Tasmanian tigers could be born within six to 10 years.Rare Highland beetle feared to be extinct found in the CaringormsThe initial group of tigers would firstly be raised on private land before being introduced into the wild.The Tasmanian tiger’s extinction caused huge issues on the island of Tasmania due to the disruption of the food chain.This animal was once the top predator on the island but invasive species have been able to spread in the century since its extinction.5The process scientists are using to bring back the Tasmanian tigerIts wipe-out has since led to a rise in disease on the island.Therefore, the reintroduction of the tiger could be a win for science and a win for Tasmania’s ecosystm.The CEO of Colossal Biosciences, Ben Lamm, previously told The Sun that his company was not looking to stop its work at the Tasmanian tiger.CEO Lamm’s company could move onto bigger animals like the woolly mammoth.About 4,000 years after its extinction a mammoth it set to be born via an artificial womb by 2028. Read more on the Scottish SunThe biotech business also revealed it was working to bring back the infamous dodo from the dead.Lamm said the woolly mammoth could be the last to make its comeback as the tiger and dodo have shorter development times.What was a Tasmanian tiger?Thylacines were large carnivorous marsupials which looked like a cross between a wolf and a big cat.The slow-moving predators hunted kangaroos as well as other marsupials, rodents and small birds.The long, lanky marsupial had several signatures including a thin tail, striped lower back, and narrow snout.They once lived throughout Australia but became extinct on the mainland around 2,000 years ago.It was then confined to the island of Tasmania until they were eventually killed off by dogs and hunters.

Scientists claim they are just 0.1% away from bringing extinct predator back from dead after it vanished 100 years ago

AN extinct species could make its comeback nearly 100 years after it disappeared as scientists claim they are 99.9% done with the animal’s revival.A biotech company, based in Dallas, Texas, revealed it has resurrected  the long-lost Tasmanian tiger.5Scientists claimed they are 0.01% away from bringing back the extinct Tasmanian tigerCredit: AFP5The Tasmanian tiger was last seen alive nearly a century agoCredit: Colossal Biosciences5Ben Lamm (pictured) is the CEO of the biotech company Colossal Biosciences who have spearheaded the projectCredit: The Mega Agency5The last known Tasmanian tiger photographed at Berlin zoo in 1933Credit: AlamyThe last known thylacine, also known as a Tasmanian wolf, died on 7 September 1936 in captivity and countless expedition efforts were unable to find the animal in the wild.Biotech company Colossal Biosciences, understood to be the world’s first de-extinction company, has claimed it has nearly completed its resurrection project for the Australian animal.This group said it has completed 99.9% of tiger’s genome reconstruction and added the remaining gaps will be filled soon.Attempts to bring back this animal started in 2017 when a 107-year-old tiger pouch, preserved in alcohol, was put through gene sequencing.READ MORE ON ANIMALSThis attempt failed as too many genetic gaps appeared.Colossal Biosciences started their resurrection attempts in 2022 when they sequenced a 120-year-old thylacine tooth to fill the previous gaps.A professor and member of Colossal Biosciences’ scientific advisory board, Andrew Pask, explained how this sample led to their breakthrough.“The sample we were able to access was so well preserved that we could recover fragments of DNA that were thousands of bases long,” Pask told the New Scientist.The company revealed its next step would be to implant the finished genome into a Dasyurid egg, a marsupial believed to be the Tasmanian tiger’s closest relative.Colossal Biosciences had predicted the first Tasmanian tigers could be born within six to 10 years.Rare Highland beetle feared to be extinct found in the CaringormsThe initial group of tigers would firstly be raised on private land before being introduced into the wild.The Tasmanian tiger’s extinction caused huge issues on the island of Tasmania due to the disruption of the food chain.This animal was once the top predator on the island but invasive species have been able to spread in the century since its extinction.5The process scientists are using to bring back the Tasmanian tigerIts wipe-out has since led to a rise in disease on the island.Therefore, the reintroduction of the tiger could be a win for science and a win for Tasmania’s ecosystm.The CEO of Colossal Biosciences, Ben Lamm, previously told The Sun that his company was not looking to stop its work at the Tasmanian tiger.CEO Lamm’s company could move onto bigger animals like the woolly mammoth.About 4,000 years after its extinction a mammoth it set to be born via an artificial womb by 2028. Read more on the Scottish SunThe biotech business also revealed it was working to bring back the infamous dodo from the dead.Lamm said the woolly mammoth could be the last to make its comeback as the tiger and dodo have shorter development times.What was a Tasmanian tiger?Thylacines were large carnivorous marsupials which looked like a cross between a wolf and a big cat.The slow-moving predators hunted kangaroos as well as other marsupials, rodents and small birds.The long, lanky marsupial had several signatures including a thin tail, striped lower back, and narrow snout.They once lived throughout Australia but became extinct on the mainland around 2,000 years ago.It was then confined to the island of Tasmania until they were eventually killed off by dogs and hunters.

Tom Holland set to star in new film from Christopher Nolan

Spider-Man’s Tom Holland is set to take a starring role in Christopher Nolan’s next film, alongside Matt Damon.According to Deadline, Holland is in talks to co-star with Damon in the project, details of which are unknown other than that it is due for release in July 2026.News of the project emerged earlier in October after reports that Nolan had chosen to produce it with Hollywood studio Universal, who had backed his last film, the multi-Oscar-winning Oppenheimer. Nolan had previously remained loyal to Warner Bros, with whom he had worked since his 2002 film Insomnia, but their relationship ended after the studio temporarily abandoned exclusive theatrical distribution during the Covid pandemic.Nolan has cast Damon twice previously, as an astronaut in Interstellar and as the director of the Manhattan Project in Oppenheimer, but the new project would mark the director’s first collaboration with Holland, whose three Spider-Man films have earned $3.9bn at the global box office.Holland recently completed a run in a stage production of Romeo and Juliet opposite Francesca Amewudah-Rivers in London’s West End and is due to shoot a fourth Spider-Man film next year, after reports emerged that Shang-Chi and the Legend of the Ten Rings’s Destin Daniel Cretton had been hired as its director.

Tom Holland set to star in new film from Christopher Nolan

Spider-Man’s Tom Holland is set to take a starring role in Christopher Nolan’s next film, alongside Matt Damon.According to Deadline, Holland is in talks to co-star with Damon in the project, details of which are unknown other than that it is due for release in July 2026.News of the project emerged earlier in October after reports that Nolan had chosen to produce it with Hollywood studio Universal, who had backed his last film, the multi-Oscar-winning Oppenheimer. Nolan had previously remained loyal to Warner Bros, with whom he had worked since his 2002 film Insomnia, but their relationship ended after the studio temporarily abandoned exclusive theatrical distribution during the Covid pandemic.Nolan has cast Damon twice previously, as an astronaut in Interstellar and as the director of the Manhattan Project in Oppenheimer, but the new project would mark the director’s first collaboration with Holland, whose three Spider-Man films have earned $3.9bn at the global box office.Holland recently completed a run in a stage production of Romeo and Juliet opposite Francesca Amewudah-Rivers in London’s West End and is due to shoot a fourth Spider-Man film next year, after reports emerged that Shang-Chi and the Legend of the Ten Rings’s Destin Daniel Cretton had been hired as its director.

Jeff VanderMeer! Ben Okri! Peter Singer talks turkey! 24 new books out today.

October 22, 2024, 4:55am

We’re moving ever deeper into October, that month of mundane and marvelous transformations (and, often, political surprises) and, as always, I have new reads to recommend. Today, you’ll find twenty-four new books in fiction, nonfiction, and poetry to consider, with established authors and debuts-to-watch both represented below.Article continues after advertisementRemove Ads
You’ll find a new entry in Jeff VanderMeer’s Southern Reach series and experimental fictions from William Melvin Kelley, as well as intriguing new novels and stories from Poupeh Missaghi, Anna Montague, Laura Imai Messina, and more. In poetry, you’ll find four new collections to check out from Ben Okri, Aditi Machado, Emily Hyland (the Emily, for fans of Detroit-style pizza, of Emmy Squared), and Emily Jungmin Yoon. And in nonfiction, there are stirring memoirs from Sarah LaBrie, Jennifer Neal, and André Aciman, as well as the ever-controversial-and-conversation-worthy Peter Singer on the plight of the turkey; Emily Herring on the charming French philosopher Henri Bergson; Nicholas Fox Weber on the painter Piet Mondrian; a new remembrance of John Lennon and Yoko Ono; and more.
Add some of these to your ever-towering lists! It’ll be worth it, even if one of the tome towers topples. Sometimes, after all, cleaning up fallen books is just how you find your next read.
*
Article continues after advertisementRemove Ads
Jeff VanderMeer, Absolution: A Southern Reach Novel(MCD)
“An eerie and evocative coda to [Jeff VanderMeer’s] Southern Reach horror-fantasy trilogy….This foray into the human cost of bureaucratic paranoia and the abandonment of logic to ‘hope, prayers, and blessings’ provokes, mystifies, and challenges readers in turn. VanderMeer’s horrifying declaration of the impossibility of knowing the other is a knockout.”–Publishers Weekly

Poupeh Missaghi, Sound Museum(Coffee House Press)
“To read Sound Museum is to watch The Zone of Interest fall into gentle banter with Tár on an elevator, bringing us so close to the mouth of evil that we can feel her breath. I left this book so unsure how to define character or cruelty, I could barely remember how to walk across the room.”–Aisha Sabatini SloanArticle continues after advertisementRemove Ads

Laura Imai Messina, The Heartbeat Library(Overlook Press)
“This is a masterful second book by Messina, author of The Phone Booth at the End of the World (2021); from the richly drawn characters to the slow unveiling of the story to the constant presence of the ocean, nature, and the steep hill that Shūichi lives on—reading this lovingly drawn story is an immersive experience. A powerful, unforgettable tale of love that is made more poignant by the loss that preceded it.”–Kirkus Reviews

Sarah LaBrie, No One Gets to Fall Apart: A Memoir(Harper)Article continues after advertisementRemove Ads
“Once I opened this brilliant memoir, I needed to finish it. When I wasn’t reading, I was thinking about Sarah LaBrie’s story, turning over in my mind her most devastating observations about motherhood, madness, and creativity. This book is stunning, one of the best memoirs I’ve read in a decade. No One Gets to Fall Apart deserves a place alongside modern classics like Jeannette Walls’ The Glass Castle and Tara Westover’s Educated.”–Susannah Calahan

Jennifer Neal, My Pisces Heart: A Black Immigrant’s Search for Home Across Four Continents(Catapult)
“This is a captivating and unflinchingly honest account of the highs and lows of being a black woman out in the world, coupled with a detailed history of the many global perceptions of race that is both eye-opening and informative. As a black woman who has also lived and worked in Asia, Australia and Europe, so many of Neal’s observations resonate deeply.”–Fiona Williams
Article continues after advertisementRemove Ads
André Aciman, Roman Year: A Memoir(FSG)
“Fans of André Aciman’s novel Call Me by Your Name will swoon for this vivid, heartfelt account of the time he spent as a teenager in Rome….A standout memoir from a master of emotional nuance who always reminds us to ‘look for the human.’–Jessica Olin

Ben Okri, Wild: Poems(Other Press)
“[Okri’s] writing takes on the great riddles of existence—freedom and consciousness, truth and illusion, suffering and transcendence—spinning them into shimmering, allegorical texts…at a time of deep reckoning and crisis…his work feel[s] all the more prescient.”–The New York Times

Emily Jungmin Yoon, Find Me as the Creature I Am: Poems(Knopf)
“I can always depend on Yoon’s poems to achieve tenderness through an unbridled desire to flay history clean from its bones. Not only do these poems edify with knowledge, they’re also revelations of feeling, wonder, and resolve, traveling through routes circuitous and vexed as the finest essays. But most remarkable of all, they position love as a method, a mode of seeing and being, perhaps even a future. Bravo.”–Ocean Vuong

Aditi Machado, Material Witness(Nightboat)
“Material Witness proves itself able to imagine a different kind of living and a different poetic form, one that entails embracing indeterminacy, transformation, and interchange. . . the material witness, struggling to look clearly upon a world from which she cannot find the adequate distance, is not only a dilemma but also an invitation, the conditions of possibility for a kind of work (poetic or otherwise) which will radically transform both self and environment.”–Sammy Aiko Zimmerman

William Melvin Kelley, Dis//Integration: 2 Novellas & 3 Stories and a Little Play(Knopf Doubleday)
“A posthumously published work by a major (if unsung) Black novelist reminds readers of his imaginative brio, verbal ingenuity, and abrasive wit….All you can do is marvel at Kelley’s arresting collage-like portrait of the artist as an intellectual nomad, clinging to the core of what makes him human—and humane. There’s cleverness and craft in abundance here. Also, wisdom and even warmth.”–Kirkus Reviews

Natalie Haynes, The Children of Jocasta(Harper Perennial)
“The legends of Oedipus and his daughter Antigone are told through two interwoven story lines in Haynes’s dark, elegant novel….Haynes’s greatest achievement is imagining a full world surrounding Sophocles’s tragedies, thrusting two minor characters in their respective plays to the forefront and bringing the myths vividly to life.”–Publishers Weekly

Anna Montague, How Does That Make You Feel, Magda Eklund?(Ecco Press)
“A road trip novel with a tremendous amount of heart—I ached along with the characters, rooted for them, wished them all the best. Truly a novel that asks you to consider the winding, secret path to love that sits lodged in every person’s breast. Anna Montague has written something bright and lovely here, a novel that is above all quietly beautiful.”–Kristen Arnett

Eleni Stecopolous, Dreaming in the Fault Zone: A Poetics of Healing(Nightboat)
“Sure to alter the terms by which we understand illness and health, Eleni Stecopoulos’s deeply original meditation is an aesthetic experience and an education. Composed of lines of flight and incantations, learned excavations, and critiques of cure, Dreaming in the Fault Zone introduces a wholly new language by which to understand illegible pain…should be required reading. This book’s radical incursion is irresistible.”–Mary Cappello

Emily Herring, Herald of a Restless World: How Henri Bergson Brought Philosophy to the People(Basic Books)
“With flair and verve, Herring unveils the life and philosophy of the enchanting and trailblazing icon of change and creativity: Henri Bergson. The result is a fascinating biography and magnificent revival of this brilliant thinker who was once the most influential philosopher in the world. Herring’s beautifully compelling narrative shows how Bergson’s ideas still hold the power to illuminate the human experience and the meaning of life.”–Skye Cleary

Nicholas Fox Weber, Mondrian: His Life, His Art, His Quest for the Absolute(Knopf)
“In Mondrian, the monk of modernism finally gets the flesh-and-blood portrait he deserves. The lifelong ‘quest for the absolute’ does not shelter Mondrian from the temptations of love, the rewards and difficulties of friendship, or the profoundly playful spirit of jazz. Instead they enrich his art. This monk can dance.”–Mark Stevens

Emily Hyland, Divorced Business Partners: A Love Story(Howling Bird Press)
“Divorced Business Partners is an ambitious poetic debut. Hyland covers a universe of emotional ground—one that announces itself in the tradition of Plath, Sexton, and Olds—inviting the reader into the interior of a failing marriage and a breaking heart as it journeys towards healing. The language is precise and sharp. Her work spirits us straight to the red-hot center. We emerge triumphant.”–Délana Dameron

Nate Lippens, Ripcord(Semiotext(e))
“How did I become the library of everyone I love? Nate Lippens asks in Ripcord….A great deal of Ripcord reckons with the harsh reality of being exiled from your family and having to make a life for yourself amongst people who lead their lives with thoughtless privilege. But Lippens doesn’t wallow in self-pity or let the book be weighed down my pessimism. In fact, he sees the necessity of darkness….Lippens relays the chaos of dating apps…Ripcord…serves as a haven.”–Hobart

Céline Minard, Plasmas (trans. Annabel L. Kim)(Deep Vellum)
“Plasmas is six stories that, as an archipelago—vaguely disquieting, wonderfully styled—constitutes a unique literary planet, if not a constellation of heretofore unclassified matter, forming an unprecedented unknown.”–Le Monde

Mario Desiati, Spatriati (trans. Michael F. Moore)(Other Press)
“An ode to the young, irregular, irreverent generation…combines the poetry of love with the harshness of an internal struggle…between the desire to stay in the small Apulian town where Claudia and Francesco were born and the dream of escaping to a lively, cosmopolitan Europe.”–Elle (Italy)

Peter Singer, Consider the Turkey(Princeton University Press)
“The noted animal rights ethicist and activist delivers a plea to leave Meleagris gallopavo off the holiday table….The reader may be shocked enough by [Singer’s] descriptions to adopt the same view….A well-considered exhortation to give a thought to a badly treated bird.”–Kirkus Reviews

Patrick Cockburn, Believe Nothing Until It Is Officially Denied: Claud Cockburn and the Invention of Guerrilla Journalism(Verso)
“Claud Cockburn was one of the great journalists of the twentieth century, an irreverent anti-careerist, steeped in the politics of Central Europe, happiest courting risk….Patrick [Cockburn] has now written an excellent account of him, supplying much new or buried information.”–Andrew Gimson

Dan Hancox, Multitudes: How Crowds Made the Modern World(Verso)
“Hancox provides, in lucid and passionate prose, a compelling account of the new psychology of crowds. He shows an impressive command of the technical literature, the historical record and contemporary events, resulting in a broadside against the reflex condemnation of crowds that we hear so often in the mouths of politicians and journalists….Read this book. And, when you have finished, you will never use the word ‘mob’ again.”–Stephen Reicher

Ed Nakamura, Giant Robot: Thirty Years of Defining Asian American Culture(Drawn & Quarterly)
“Nakamura debuts with an exuberant tribute to the zine he and fellow UCLA student Martin Wong cofounded in 1994….Giant Robot…cover[ed] taste tests of Asian food, interviews with film stars and musicians, and commentaries on Asian American history and identity….the zine paradoxically found success thanks to its refusal to prove itself to a mainstream culture in which Asian Americans were often cast…as ‘decor in a white protagonist’s surroundings’…a rousing ode to a vibrant period in pop culture history and an intriguing look at shifting notions of Asian American identity.”–Publishers Weekly

Elliot Mintz, We All Shine On: John, Yoko, and Me(Dutton)
“Radio personality Mintz debuts with a vivid account of the decade he spent as John Lennon and Yoko Ono’s confidante, fixer, and friend….It’s a captivating and intimate window into the complicated lives of one of rock’s most legendary couples.”–Publishers Weekly

The Climate Scientist Who Leads Mexico Is Betting on Decades of Fossil Fuel

Breadcrumb Trail LinksPMN BusinessA new natural gas pipeline could help reduce poverty in the underdeveloped Yucatan — but it poses a challenge to Sheinbaum’s push to cut emissionsAuthor of the article:Bloomberg NewsScott SquiresPublished Oct 22, 2024  •  8 minute readA fisherman off the shore of Playa Villa del Mar in Veracruz. Photographer: Toya Sarno Jordan/Getty Images South America Photo by Toya Sarno Jordan /Photographer: Toya Sarno Jordan/Article content(Bloomberg) — Under the crystalline waters off southeast Mexico, workers are laying a pipeline that President Claudia Sheinbaum is counting on to underpin an economic boom and lift millions from poverty.The $4.5 billion Southeast Gateway Project will deliver up to 1.3 billion cubic feet natural gas per day from Texas to the Yucatan Peninsula when it’s completed next year, fueling power plants and a proposed trans-continental rail corridor intended to rival the Panama Canal. Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorArticle contentBut the project Sheinbaum inherited from her predecessor, Andres Manuel Lopez Obrador, also threatens to undercut one of her other key goals: cutting Mexico’s greenhouse gas emissions.The 715 kilometer (444 mile) pipeline being developed by TC Energy Corp. of Canada along with Mexico’s state utility is the lynchpin to Sheinbaum’s ambitious plan to diversify the Yucatan’s economy. While powdery white beaches and luxury resorts of Cancun and Playa del Carmen draw wealthy tourists, more than half the residents in the rest of the region live on less than about $16 a day.The conduit, which runs near a fragile coral reef zone and will also feed both an oil refinery and Lopez Obrador’s Maya train project, will make the country reliant on fossil fuels for years to come. That poses a challenge to Mexico’s commitment under the Paris Agreement to slash carbon emissions by 35% before 2030 and its goal under the Global Methane Pledge to cut methane emissions by 30% over the same period.It’s a tension at the heart of Sheinbaum’s vision for Mexico — and indeed, for any country looking to grow economically while also reducing its carbon footprint. It’s all the more acute because of the new president’s past work with the United Nations Intergovernmental Panel on Climate Change, which in a recent report was explicit about the need for deep emissions cuts in coming decades. Advertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.Article content“One of the most critical issues in Southeastern Mexico is access to reliable energy, and this pipeline can start bridging that gap,” said Oscar Ocampo, an energy analyst at the nonprofit Mexican Institute for Competition. “It locks Mexico into fossil fuels for a generation. But Sheinbaum’s credibility on the climate will depend on her ability to increase development of renewable projects.”Her plan hinges on an aggressive campaign to add enough solar, wind and other forms of clean energy for Mexico to generate 45% of its electricity from emission-free sources by 2030, up from 24% today. It will require dramatically overhauling power grids already suffering from seasonal blackouts after years of underinvestment. The effort could cost as much as $50 billion, making it the largest buildout of energy infrastructure in a single presidential term in Mexico’s history and leading some analysts to deride the plan as a “pipe dream.”Even if Sheinbaum succeeds in adding all that clean power, the new pipeline and gas-power plants are likely to be in use for decades, driving up Mexico’s emissions.Top StoriesGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don’t see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againArticle contentAdvertisement 4Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentMexico contributed 1.3% of total global emissions in 2022, the second highest in Latin America after Brazil. Alongside Argentina, it’s one of just two countries in the hemisphere that get a “critically insufficient” rating from the Climate Action Tracker. And while its share of global emissions is relatively stable, Mexico’s emissions from fuel combustion are up 6% since 2000.That makes Sheinbaum, an environmental engineer who co-authored IPCC reports in 2007 and 2014, crucial to watch in the years ahead as she tries to cut emissions while also raising living standards by attracting more business and industry.Representatives for Sheinbaum and Mexico’s utility, Comision Federal de Electricidad, declined to comment. Her administration, however, is considering more ambitious climate targets ahead of COP30 next year in Brazil, according to a person familiar with the matter.The pipeline, nicknamed SGP, may be Mexico’s only viable option to jumpstart the Yucatan’s economy. Just look to other states, like in the Bajío region northwest of Mexico City, where access to gas has been a boon.Advertisement 5Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentPipelines have helped drive the recent “nearshoring” campaign to encourage businesses to move to Mexico so they can be closer to customers in the US. That includes Queretaro state, which has seen an influx of planned data centers from Alphabet Inc.’s Google, Amazon.com Inc. and others. San Luis Potosi, home to General Motors Co. and BMW AG plants, grew a whopping 8% in the first half of this year from 2023 as automotive companies rush to set up operations.In the Yucatan, energy demand is already surging around 7% per year, compared with an average of around 3% nationwide, according to data from Comision Federal de Electricidad. Levy Abraham Macari, the president of the Canaco business and tourism chamber in Merida, the Yucatan state capital, says the new pipeline could boost the region’s gross domestic product by as much as 3% in its first years of operation. It would also bring thousands more jobs that promise to reduce poverty in the state, which at 39% is about three points higher than the national average.“Several hundred million pesos are likely to flow into energy intensive sectors like manufacturing and industry,” Abraham said. “All the elements are in place for Yucatan to become an extremely attractive state for doing business.”Advertisement 6Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentMexico’s reliance on cheap gas from Texas is nothing new. Around 60% of energy generated in the country depends on gas, and more than 70% of that comes from the US state, according to Fitch Ratings.US gas pipeline exports to Mexico grew 8% last year, according to the US Energy Information Administration and are surging at a record pace. Mexico imported about 6.8 billion cubic feet of gas per day in June, according to data compiled by Bloomberg.“We see the abundant supply of low-cost gas in South Texas as an opportunity for Mexico, Canada and the US to develop industry, and grow together as a bloc,” Leonardo Robles, vice president and chief commercial officer for Mexico natural gas pipelines at TC Energy, said in an interview. Once construction is completed this year and gas begins flowing in May, “growth in terms of jobs, economic and social development to the Yucatan will be significant.”Counterintuitively, the pipeline may actually help drive down carbon dioxide emissions in the Yucatan in the short term.It will enable Mexico’s state utility to convert two major power plants in Merida and Valladolid to burn gas instead of oil and diesel, which emit more CO2 when burned. CFE estimates the move will reduce emissions in the region by 27%, save nearly $3 billion over the next 30 years on fuel costs, reduce bills for consumers and add 1.5 gigawatts of generation capacity to the grid.Advertisement 7Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentThe SGP will feed those facilities via an expansion of the Mayakan pipeline, also scheduled to be completed next year. Environmentalists are nonetheless pushing back against the pipeline. In the long run, they warn, it will raise Mexico’s emissions. While gas releases less CO2 than diesel or coal when burned, it’s far more damaging to the climate when it leaks from wells or pipes. When released unburned, the main component of natural gas, methane, is about 80 times more potent than carbon dioxide at trapping heat during its first two decades in the atmosphere.“Methane emissions from natural gas projects are much trickier to track than conventional greenhouse gas emissions because of leakage from pipes and other storage and transport equipment,” Daniel Zavala, a scientist who tracks methane emissions at the Environmental Defense Fund, said in an interview.To be sure, Sheinbaum’s energy plan shows she sees gas as a key part of Mexico’s broader power matrix, which she’s pushing to shift to greener sources amid an overhaul of Mexico’s energy laws that would increase state control of the sector. She’s promised to put a stop to gas flaring by state oil company Petroleos Mexicanos and pledged that all new energy demand in Mexico will be met by renewables after current projects — including the $13.6 billion she’s earmarked for new gas, solar and wind plants — are complete. Advertisement 8Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentIn addition to its proximity to a fragile reef ecosystem off the coast of Veracruz state, environmentalists argue the pipeline disrupts the livelihood of Indigenous and fishing communities, and threatens endangered sea turtle hatching sites. They also say it was split into two separate projects on paper to rush through environmental impact studies and speed up the permitting process.Mexico’s History-Making Leader Charts Her Own Course — DelicatelySheinbaum’s Ambitious Clean Power Plan Dismissed as ‘Pipe Dream’​​​​​​AMLO’s Successor Has to Mop Up After Mexico’s Judicial BombshellEconomist Tapped as Pemex CEO in Sheinbaum’s Bid to Tame DebtSheinbaum Win Gives AMLO One More Shot to Boost State Utilities“This project has systematically violated the procedures for environmental impact and public consultation,” said Pablo Ramirez, an activist at Greenpeace Mexico. “There are so many other alternatives to bringing clean, accessible energy to the Yucatan.”Environmental groups say they are evaluating their legal options to block the project’s completion, but prospects appear slim.Advertisement 9Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentTC Energy says it has taken steps in the design and construction of the pipeline to tightly control methane emissions, and that it spent more than $50 million on environmental studies, which included public consultations, to analyze over 11,000 kilometers of seabed to ensure the pipeline would not impact the reef. The pipeline’s route is also more than a kilometer from the nearest perimeter of the protected reef zone, Robles said.The project was split into two phases to account for different considerations in building the land and marine sections of the pipeline, according to a company spokesman. Environmental studies included a holistic analysis of its impacts, and the study was submitted to align with all the regulatory requirements in Mexico and with international standards, the spokesman said.For Robles, the pipeline will allow the Yucatan Peninsula to address what’s known as the “energy trilemma.”“As energy demand grows, solutions need to be cost competitive to drive social and economic growth, and also meet sustainability goals to help reduce emissions,” Robles said. “The solution we have at hand right now is natural gas.”—With assistance from Ruth Liao, Elizabeth Elkin and Dave Merrill.Article contentShare this article in your social networkComments Join the Conversation Featured Local Savings

The Climate Scientist Who Leads Mexico Is Betting on Decades of Fossil Fuel

Breadcrumb Trail LinksPMN BusinessA new natural gas pipeline could help reduce poverty in the underdeveloped Yucatan — but it poses a challenge to Sheinbaum’s push to cut emissionsAuthor of the article:Bloomberg NewsScott SquiresPublished Oct 22, 2024  •  8 minute readA fisherman off the shore of Playa Villa del Mar in Veracruz. Photographer: Toya Sarno Jordan/Getty Images South America Photo by Toya Sarno Jordan /Photographer: Toya Sarno Jordan/Article content(Bloomberg) — Under the crystalline waters off southeast Mexico, workers are laying a pipeline that President Claudia Sheinbaum is counting on to underpin an economic boom and lift millions from poverty.The $4.5 billion Southeast Gateway Project will deliver up to 1.3 billion cubic feet natural gas per day from Texas to the Yucatan Peninsula when it’s completed next year, fueling power plants and a proposed trans-continental rail corridor intended to rival the Panama Canal. Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorArticle contentBut the project Sheinbaum inherited from her predecessor, Andres Manuel Lopez Obrador, also threatens to undercut one of her other key goals: cutting Mexico’s greenhouse gas emissions.The 715 kilometer (444 mile) pipeline being developed by TC Energy Corp. of Canada along with Mexico’s state utility is the lynchpin to Sheinbaum’s ambitious plan to diversify the Yucatan’s economy. While powdery white beaches and luxury resorts of Cancun and Playa del Carmen draw wealthy tourists, more than half the residents in the rest of the region live on less than about $16 a day.The conduit, which runs near a fragile coral reef zone and will also feed both an oil refinery and Lopez Obrador’s Maya train project, will make the country reliant on fossil fuels for years to come. That poses a challenge to Mexico’s commitment under the Paris Agreement to slash carbon emissions by 35% before 2030 and its goal under the Global Methane Pledge to cut methane emissions by 30% over the same period.It’s a tension at the heart of Sheinbaum’s vision for Mexico — and indeed, for any country looking to grow economically while also reducing its carbon footprint. It’s all the more acute because of the new president’s past work with the United Nations Intergovernmental Panel on Climate Change, which in a recent report was explicit about the need for deep emissions cuts in coming decades. Advertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.Article content“One of the most critical issues in Southeastern Mexico is access to reliable energy, and this pipeline can start bridging that gap,” said Oscar Ocampo, an energy analyst at the nonprofit Mexican Institute for Competition. “It locks Mexico into fossil fuels for a generation. But Sheinbaum’s credibility on the climate will depend on her ability to increase development of renewable projects.”Her plan hinges on an aggressive campaign to add enough solar, wind and other forms of clean energy for Mexico to generate 45% of its electricity from emission-free sources by 2030, up from 24% today. It will require dramatically overhauling power grids already suffering from seasonal blackouts after years of underinvestment. The effort could cost as much as $50 billion, making it the largest buildout of energy infrastructure in a single presidential term in Mexico’s history and leading some analysts to deride the plan as a “pipe dream.”Even if Sheinbaum succeeds in adding all that clean power, the new pipeline and gas-power plants are likely to be in use for decades, driving up Mexico’s emissions.Top StoriesGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don’t see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againArticle contentAdvertisement 4Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentMexico contributed 1.3% of total global emissions in 2022, the second highest in Latin America after Brazil. Alongside Argentina, it’s one of just two countries in the hemisphere that get a “critically insufficient” rating from the Climate Action Tracker. And while its share of global emissions is relatively stable, Mexico’s emissions from fuel combustion are up 6% since 2000.That makes Sheinbaum, an environmental engineer who co-authored IPCC reports in 2007 and 2014, crucial to watch in the years ahead as she tries to cut emissions while also raising living standards by attracting more business and industry.Representatives for Sheinbaum and Mexico’s utility, Comision Federal de Electricidad, declined to comment. Her administration, however, is considering more ambitious climate targets ahead of COP30 next year in Brazil, according to a person familiar with the matter.The pipeline, nicknamed SGP, may be Mexico’s only viable option to jumpstart the Yucatan’s economy. Just look to other states, like in the Bajío region northwest of Mexico City, where access to gas has been a boon.Advertisement 5Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentPipelines have helped drive the recent “nearshoring” campaign to encourage businesses to move to Mexico so they can be closer to customers in the US. That includes Queretaro state, which has seen an influx of planned data centers from Alphabet Inc.’s Google, Amazon.com Inc. and others. San Luis Potosi, home to General Motors Co. and BMW AG plants, grew a whopping 8% in the first half of this year from 2023 as automotive companies rush to set up operations.In the Yucatan, energy demand is already surging around 7% per year, compared with an average of around 3% nationwide, according to data from Comision Federal de Electricidad. Levy Abraham Macari, the president of the Canaco business and tourism chamber in Merida, the Yucatan state capital, says the new pipeline could boost the region’s gross domestic product by as much as 3% in its first years of operation. It would also bring thousands more jobs that promise to reduce poverty in the state, which at 39% is about three points higher than the national average.“Several hundred million pesos are likely to flow into energy intensive sectors like manufacturing and industry,” Abraham said. “All the elements are in place for Yucatan to become an extremely attractive state for doing business.”Advertisement 6Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentMexico’s reliance on cheap gas from Texas is nothing new. Around 60% of energy generated in the country depends on gas, and more than 70% of that comes from the US state, according to Fitch Ratings.US gas pipeline exports to Mexico grew 8% last year, according to the US Energy Information Administration and are surging at a record pace. Mexico imported about 6.8 billion cubic feet of gas per day in June, according to data compiled by Bloomberg.“We see the abundant supply of low-cost gas in South Texas as an opportunity for Mexico, Canada and the US to develop industry, and grow together as a bloc,” Leonardo Robles, vice president and chief commercial officer for Mexico natural gas pipelines at TC Energy, said in an interview. Once construction is completed this year and gas begins flowing in May, “growth in terms of jobs, economic and social development to the Yucatan will be significant.”Counterintuitively, the pipeline may actually help drive down carbon dioxide emissions in the Yucatan in the short term.It will enable Mexico’s state utility to convert two major power plants in Merida and Valladolid to burn gas instead of oil and diesel, which emit more CO2 when burned. CFE estimates the move will reduce emissions in the region by 27%, save nearly $3 billion over the next 30 years on fuel costs, reduce bills for consumers and add 1.5 gigawatts of generation capacity to the grid.Advertisement 7Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentThe SGP will feed those facilities via an expansion of the Mayakan pipeline, also scheduled to be completed next year. Environmentalists are nonetheless pushing back against the pipeline. In the long run, they warn, it will raise Mexico’s emissions. While gas releases less CO2 than diesel or coal when burned, it’s far more damaging to the climate when it leaks from wells or pipes. When released unburned, the main component of natural gas, methane, is about 80 times more potent than carbon dioxide at trapping heat during its first two decades in the atmosphere.“Methane emissions from natural gas projects are much trickier to track than conventional greenhouse gas emissions because of leakage from pipes and other storage and transport equipment,” Daniel Zavala, a scientist who tracks methane emissions at the Environmental Defense Fund, said in an interview.To be sure, Sheinbaum’s energy plan shows she sees gas as a key part of Mexico’s broader power matrix, which she’s pushing to shift to greener sources amid an overhaul of Mexico’s energy laws that would increase state control of the sector. She’s promised to put a stop to gas flaring by state oil company Petroleos Mexicanos and pledged that all new energy demand in Mexico will be met by renewables after current projects — including the $13.6 billion she’s earmarked for new gas, solar and wind plants — are complete. Advertisement 8Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentIn addition to its proximity to a fragile reef ecosystem off the coast of Veracruz state, environmentalists argue the pipeline disrupts the livelihood of Indigenous and fishing communities, and threatens endangered sea turtle hatching sites. They also say it was split into two separate projects on paper to rush through environmental impact studies and speed up the permitting process.Mexico’s History-Making Leader Charts Her Own Course — DelicatelySheinbaum’s Ambitious Clean Power Plan Dismissed as ‘Pipe Dream’​​​​​​AMLO’s Successor Has to Mop Up After Mexico’s Judicial BombshellEconomist Tapped as Pemex CEO in Sheinbaum’s Bid to Tame DebtSheinbaum Win Gives AMLO One More Shot to Boost State Utilities“This project has systematically violated the procedures for environmental impact and public consultation,” said Pablo Ramirez, an activist at Greenpeace Mexico. “There are so many other alternatives to bringing clean, accessible energy to the Yucatan.”Environmental groups say they are evaluating their legal options to block the project’s completion, but prospects appear slim.Advertisement 9Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentTC Energy says it has taken steps in the design and construction of the pipeline to tightly control methane emissions, and that it spent more than $50 million on environmental studies, which included public consultations, to analyze over 11,000 kilometers of seabed to ensure the pipeline would not impact the reef. The pipeline’s route is also more than a kilometer from the nearest perimeter of the protected reef zone, Robles said.The project was split into two phases to account for different considerations in building the land and marine sections of the pipeline, according to a company spokesman. Environmental studies included a holistic analysis of its impacts, and the study was submitted to align with all the regulatory requirements in Mexico and with international standards, the spokesman said.For Robles, the pipeline will allow the Yucatan Peninsula to address what’s known as the “energy trilemma.”“As energy demand grows, solutions need to be cost competitive to drive social and economic growth, and also meet sustainability goals to help reduce emissions,” Robles said. “The solution we have at hand right now is natural gas.”—With assistance from Ruth Liao, Elizabeth Elkin and Dave Merrill.Article contentShare this article in your social networkComments Join the Conversation Featured Local Savings

HSBC Restructures Business Divisions, Names New CFO

The banking group said the changes will remove overlap of roles and make it more nimble and efficient.
London/Hong Kong-listed HSBC is restructuring its
business lines into four business units, including a new entity
called international wealth and premier banking, it announced
today. It also named a new chief financial officer.The changes, come as new group CEO Georges Elhedery imposes his
stamp on a business that today earns the bulk of its revenues
outside the UK, such as in Asia. Prior to the changes, which take
effect from the start of January next year, the divisions had
been wealth and personal banking; commercial banking; global
banking and markets, and the corporate centre.The bank is to be split into the following business segments:
Hong Kong; UK; corporate and institutional banking; and the
aforementioned international wealth and premier banking arms, it
said in a statement.The bank said the changes will reduce duplication of
processes and decision-making in the existing structure.HSBC will issue its third-quarter financial results on 29
October. For the first half of this year, the bank reported a
pre-tax profit, on a reported basis, of $21.6 billion, versus
$21.7 billion a year before.“The new structure will result in a simpler, more dynamic, and
agile organisation as we focus on executing against our strategic
priorities, which remain unchanged,” Elhedery said. “Our home
markets of the UK and Hong Kong, together with our corporate and
institutional banking as well as our wealth and Premier banking
businesses, are the core strengths of HSBC.”“By making these changes, we can better focus on increasing
leadership and market share in those businesses which have clear
competitive advantage and the greatest opportunities to grow.”

CFOHSBC also appointed Pam Kaur as its new group chief financial
officer, effective 1 January.Kaur, who joined the bank in April 2013 as group head of audit,
is group chief risk and compliance officer, and has almost four
decades’ experience having worked in the UK and the US for
British, American and German Banks. Kaur is a qualified
accountant. Jon Bingham, interim GCFO, will resume his role of group
financial controller, HSBC said.WealthIn the international wealth and premier banking arm, HSBC said it
will bring together the group’s premier banking-focused
businesses outside of Hong Kong and the UK, its global private
bank, and its wealth manufacturing businesses, asset management
and insurance.“One of our greatest strategic growth opportunities is in
international wealth – particularly in Asia and the Middle East,
capitalising on our established brand and heritage,” it
said. The bank said that this business will be led by Barry O’Byrne,
who is currently CEO of HSBC’s wealth and personal banking
business.

Other divisionsHong KongThe new “Hong Kong business” will comprise “personal banking” and
“commercial banking” under the business oversight of David Liao
and Surendra Rosha at the group operating committee, for both
HSBC as well as Hang Seng Bank.UKThe new “UK business” will comprise UK “personal banking”
(including First Direct and M&S Bank) and UK “commercial
banking,” including innovation banking under the sole business
oversight of Ian Stuart.Corporate and institutional HSBC is creating a new business by integrating its commercial
banking business (outside the UK and Hong Kong) with its global
banking and markets business and with the geographic region of
the Western Markets (comprising its UK non-ring-fenced bank,
Europe, and the Americas), which is a predominantly wholesale
banking region.This division will be led by Michael Roberts.