Date
23 October 2017

Business

  • The Helmsley Building in New York is illuminated in Amazon Orange in support for the city’s official bid for Amazon's second headquarters. Photo: Bloomberg

    What HK can learn from the bidding war for Amazon headquarters

    - Oct 23, 2017 4:47pm
    Hangzhou has become a leading city thanks to Alibaba, and Shenzhen has been at the forefront of innovation and technology thanks to Tencent and Huawei. Outside China, we have seen how a cluster of tech firms...
  • Tencent Holdings controls China Literature with a 62 percent stake. Photo: HKEJ

    Tencent’s China Literature eyes US$1.1 bln in Hong Kong IPO

    Oct 23, 2017 11:34am
    China Literature Ltd., China’s largest online publishing and e-book company, launched an initial public offering for up to US$1.1 billion on Monday, seeking funds for acquisitions and to expand its digital publishing business, Reuters reports. Tencent...
  • Noble is slashing jobs and selling assets to reduce its debt and win support from its lenders. Photo: Reuters

    Noble to sell oil liquids business to Vitol, flags big 3Q loss

    Oct 23, 2017 10:19am
    Struggling commodities trader Noble Group agreed to sell its Americas-focused oil liquids business to Vitol for about US$580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter, Reuters...
  • JPMorgan saw its fixed-income markets revenue fall 27 percent in the three months ended in September, compared with the same period last year. Photo: Reuters

    JPMorgan taps data startup to boost fixed-income trading

    Oct 23, 2017 10:06am
    JPMorgan Chase & Co has partnered with data analytics startup Mosaic Smart Data to help its fixed-income sales and trading business become more profitable, Reuters reports. The bank, whose fixed-income trading revenue slumped last quarter, has...
  • The October 2017 IMF Financial Stability Report highlights the risk from the high indebtedness of developed countries. Photo: AFP

    Debt developments: More divergence in euro area

    - Oct 23, 2017 9:00am
    Debt-to-GDP ratios among euro area members have diverged since the financial crisis. However, for most countries interest expenses fell. This is a key risk to budget deficits if bond yields increase. We favor underweighting French sovereign...
  • Each balloon can provide internet service to an area of roughly 5,000 square kilometers, or 1,930 square miles, Alphabet said. Photo: Google handout

    Alphabet balloons to provide limited internet in Puerto Rico

    Oct 23, 2017 8:47am
    Experimental communications balloons provided by Alphabet Inc. in collaboration with AT&T Inc. will allow some of the carrier’s customers in storm-ravaged Puerto Rico to send texts and access critical information on the internet, Reuters reports, citing...
  • Tesla will be able enjoy lower production costs in China even after paying duties on imported components. Photo: Bloomberg

    Tesla confirms talks to build car plant in Shanghai

    Oct 23, 2017 8:39am
    Tesla reaffirmed on Sunday that it is in discussions with the Shanghai municipal government to set up an electric-car factory in the region. The US-based company said it expects to agree on a plan by the...
  • Johnson & Johnson is accused of not adequately warning consumers about the cancer risks of its talc-based products. Photo: AFP

    California judge junks US$417 mln verdict vs Johnson & Johnson

    Oct 23, 2017 8:27am
    A California judge threw out a US$417 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using its talc-based products like Johnson’s Baby Powder for feminine...
  • China's housing rental market remains underdeveloped, a situation that authorities are now trying to address.  Photo: China Daily

    Xi’s ‘go rental’ message could alter China housing dynamics

    - Oct 23, 2017 8:16am
    Chinese President Xi Jinping shed light on his housing policy with less than 50 words during his address on Oct. 18 at the opening session of the Communist Party’s 19th congress. “Houses are built to be...
  • Hong Kong Startup Council hosted a Demo Day on Thursday to help seven IoT firms make pitches to potential investors, Photo: FHKI

    Startup Council showcases 7 IoT firms under STARS program

    - Oct 20, 2017 3:46pm
    Hong Kong Startup Council on Thursday hosted an event that saw seven startup members under the agency’s STARS Programme showcase their products, technologies and services. During the Demo Day, the firms gave presentations and promoted their...
  • SenseTime and Qualcomm plan to work together on AI and machine learning for mobile and IoT products. Photo: HKEJ

    SenseTime teams up with Qualcomm for on-device AI push

    - Oct 20, 2017 2:46pm
    Hong Kong-based technology firm SenseTime Group has announced a tie-up with a Qualcomm subsidiary to drive the development and use of mobile phone chips with built-in artificial intelligence (AI) features. Under the deal, SenseTime will collaborate...
  • The new owner will turn Star Seafood Floating Restaurant into the city's largest banquet hall with 300 tables. Photo: Wikimedia Commons

    Shatin floating restaurant to offer largest banquet venue in HK

    - Oct 20, 2017 1:24pm
    After 15 years of operation, Star Seafood Floating Restaurant in Shatin, formerly and more famously known as Treasure Floating Restaurant, will be closed next Sunday for renovations. What has been billed as the largest dim sum restaurant...
  • Chinese President Xi Jinping wants to  build China into an advanced and modern socialist power in the 21st century. Photo: Reuters

    What investors can take away from Xi Jinping’s speech

    - Oct 20, 2017 11:10am
    Chinese President Xi Jinping delivered a three-and-a-half hour speech at the opening of the 19th party congress and the most striking thing in his report is his ideological confidence. He intends to build China into an...
  • Google is targeting apps and flaws such as those that allow a hacker to redirect a user to a phishing website or infect a gadget with a virus. Photo: Reuters

    Google offers bounty to clean up mobile apps

    Oct 20, 2017 8:54am
    Google is offering security experts a bounty to identify Android app flaws as the Alphabet Inc. unit seeks to wipe out bugs from its Google Play store, Reuters reports. Each flaw will score at least US$1,000...
  • Priceline Group has contributed US$450 million in a new funding round for Beijing-based Meituan-Dianping. Photo: Bloomberg

    Tencent, Priceline in US$4 bln Meituan-Dianping funding round

    Oct 20, 2017 8:53am
    Chinese lifestyle-services internet platform Meituan-Dianping has raised US$4 billion from an investor group led by Tencent Holdings, the Wall Street Journal reports. In the deal that pinned a valuation of US$30 billion for the Beijing-based firm, US-based Priceline Group...
  • Changan plans to launch 21 pure-electric cars and 12 plug-in hybrid models by 2025 as part of an electrification strategy dubbed 'Shangri-La'.

    Major Chinese carmaker plans electric-only future

    Oct 20, 2017 8:39am
    Chongqing Changan Automobile Co., one of China’s big state-run automakers, said Thursday it will shift to making electric vehicles exclusively, ending sales of combustion-engine cars by 2025, the Wall Street Journal reports. Changan, based in the...
  • An Amazon fulfillment center is seen in this picture taken in Goodyear, Arizona. The e-commerce giant plans to invest US$5 billion on a second headquarters facility, adding to its existing one in Seattle. Photo: Bloomberg

    Several US cities vie to host Amazon second headquarters

    Oct 20, 2017 8:35am
    Several cities and states in the United States as well as Canadian authorities are vying for Amazon’s attention as the e-commerce giant seeks to set up a massive second headquarters facility. BBC reports that more than...
  • The latest round of funding boosts Lyft's valuation to US$11 billion from US$7.5 billion. Photo: Reuters

    Alphabet’s CapitalG leads Lyft’s US$1 bln funding round

    Oct 20, 2017 8:17am
    Lyft Inc. has raised US$1 billion in fresh financing in a round led by one of Alphabet Inc.’s investment funds, dealing a blow to rival Uber Technologies Inc., Reuters reports. The round was led by CapitalG,...
  • Xi Jinping's speech at the Communist Party congress received several hundred million 'claps' from Chinese mobile phone game users. Photos: Tencent

    Tencent scores with mobile game on Xi speech

    - Oct 19, 2017 4:32pm
    A mobile game that encourages people to applaud the speech that Chinese leader Xi Jinping gave at the opening session of the Communist Party congress has proved to be a huge hit in China. The game,...
  • Apple's usual practice is to launch the new iPhones in September, start mass production in the fourth quarter and cut production in the first two quarters of the following year. Photo: Reuters

    Apple slashes iPhone 8 supplier orders by 50 percent: Report

    - Oct 19, 2017 4:27pm
    Apple has recently slashed orders for iPhone 8 and iPhone 8 Plus by about 50 percent for November and December, Taipei-based Economic Daily News reports, citing sources in Apple’s supply chain. This year is “quite rare”...

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