Date
13 November 2019

BUSINESS

  • Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$13.4 billion as soon as Thursday, Reuters reports, citing two sources with knowledge of the discussions. The...
  • Cathay Pacific Airways Ltd. (00293.HK) on Wednesday said the short-term outlook remained “challenging and uncertain” due to anti-government protests in its home market as it lowered its profit guidance for the second time in less than...
  • App-based bank Tandem, which plans to expand into Hong Kong before the end of the year, is determined to take on the giants in the financial industry and grow into a “trillion-dollar business”, its co-founder and chief...
  • Alibaba Group has once again notched a big success on Singles’ Day, with total sales hitting a new high at 268.4 billion yuan (US$38.4 billion) during the 24-hour online shopping festival on Monday. Among the key...
  • Shenzhen’s housing and construction bureau announced on Monday that all residential apartments smaller than 144 square meters in the southern city will be exempted from the luxury home tax. The move is expected to boost the...
  • McDonald’s Corp. was sued by workers in Michigan who accused the fast-food chain of allowing pervasive sexual harassment to flourish at its restaurants nationwide, Reuters reports. The proposed class-action lawsuit filed in a Michigan state court...
  • Walt Disney Co.’s long-awaited debut in the streaming media wars was hit with technical glitches that the company said were caused by higher-than-expected demand, Reuters reports. It was unclear how many people successfully signed up and...
  • US President Donald Trump dangled the prospect of completing an initial trade deal with China “soon” but offered no new details on the negotiations, Reuters reports. Markets had been on edge about Trump’s highly anticipated remarks...
  • Hong Kong has dipped into recession but the housing market remains firm; this is probably one of the biggest anomalies in the market. Similarly in China, though economic growth is slowing, the real estate climate index compiled...
  • Tandem, the UK challenger bank co-founded by fintech veteran Ricky Knox, is gearing up to expand into Hong Kong before the end of the year, as part of its international growth plans. In an exclusive interview...

WORLD

  • The chairman of the US Senate Foreign Relations Committee said on Tuesday that he wants the Senate to pass legislation to support pro-democracy protesters in Hong Kong, Reuters reports. Republican Senator Jim Risch noted that he...
  • Shenzhen’s housing and construction bureau announced on Monday that all residential apartments smaller than 144 square meters in the southern city will be exempted from the luxury home tax. The move is expected to boost the...
  • Australia’s High Court agreed to hear a final appeal from former Vatican treasurer George Pell over his conviction for sexually assaulting two teenage choirboys,  Reuters reports. Pell, who is in jail serving a six-year sentence handed down...
  • The early enthusiasm for blockchain and the virtual assets it supports, while still felt by a large and active community, has also given way to disappointment and cynicism in some quarters. At this point in blockchain’s short...
  • Chinese telecoms equipment giant Huawei Technologies said on Tuesday that it will hand out 2 billion yuan (US$286 million) in cash rewards to staff working to help the firm ride out US sanctions. The reward is...