Date
23 February 2017

Industries

  • The rising proportion of positive profit alert points to an improving earnings trend and thus a stronger equity market ahead. Photo: HKEJ

    Profit alerts: Why Hong Kong stocks see brighter days ahead

    - Feb 23, 2017 4:49pm
    HSBC Holdings (00005.HK) has posted disappointing results for 2016. That has stoked concerns about other heavyweight stocks. However, the composition of profit alerts issued by listed companies point to a relatively positive outlook. There are two...
  • Buyers of this Tesla model and other electric cars will now have to shoulder 80 percent of the tax payable. Photo: HKEJ

    Tesla falls victim to Paul Chan’s budget

    - Feb 23, 2017 2:49pm
    Former financial secretary Antony Leung used to love Lexus, but Paul Chan, the latest official to succeed him in the post, apparently has no regard for Tesla. That is perhaps why in his first (and possibly last) budget,...
  • A high dividend yield is a major attraction of HSBC shares. Photo: Reuters

    A taxi driver retires at 33 after amassing 40,000 HSBC shares

    - Feb 23, 2017 1:32pm
    Last month a 33-year-old taxi driver posted a statement on social media that he has decided to retire. He said that since he started driving a taxi when he was 22, he has been saving up every...
  • Apple’s new futuristic campus is seen under construction in Cupertino, California in this aerial photo taken in January. Credit: Reuters

    Apple to open its new ‘spaceship’ campus in April

    Feb 23, 2017 9:05am
    Apple Inc. said on Wednesday that it will open its new multi-billion dollar futuristic campus in April and spend six months moving employees into the 175-acre facility. The new Cupertino campus, which has been dubbed as...
  • A wheel of a prototype of the Tesla Model 3 is shown on display at a factory in Nevada. Tesla says the Model 3 will be ready for volume production by September. Photo: Reuters

    Tesla Model 3 on course for volume production by September

    Feb 23, 2017 8:03am
    Tesla Inc. says its mass-market Model 3 sedan is on track for volume production by September, relieving investors who see the electric vehicle as the avenue to profitability for the young company. But the carmaker’s operations...
  • Chevron and Zhenhua Oil signed a preliminary pact in January and are trying to complete the deal by June. Photo: Reuters

    China state firm in deal to buy Chevron’s Bangladesh gas fields

    Feb 23, 2017 7:53am
    China’s state-run Zhenhua Oil has signed a preliminary agreement with Chevron to buy the US oil major’s natural gas fields in Bangladesh worth about US$2 billion, Reuters reports. Zhenhua is a subsidiary of China’s defense industry...
  • Jacinto Tong attributes his group’s success to a key decision to snap up commercial properties during a severe downturn triggered by SARS outbreak early last decade. Photo: HKEJ

    The art of the deal: Lessons from Gale Well Group

    - Feb 22, 2017 5:29pm
    Gale Well Group made a few key decisions that helped the Hong Kong-based property investment firm grow its once-small portfolio to its current size of HK$35-40 billion. In interviews with the media, founder Jacinto Tong Man-leung...
  • Mohammed Barkindo says he believes that "what is good for OPEC is good for the US". Photo: Bloomberg

    OPEC chief seeks energy dialogue amid surge in US shale output

    Feb 22, 2017 9:24am
    OPEC’s top official has sought to allay speculation that a surge in US shale output could impact the oil cartel’s agreement to cut oil production. Addressing an oil conference in London Tuesday, OPEC Secretary-General Mohammed Barkindo...
  • The Verizon logo is seen on one of their retail stores in San Diego, California. Verizon conducted brand studies and found that Yahoo's reputation was holding up after the hacks. Photo: Reuters

    Verizon, Yahoo agree to lowered US$4.48 bln deal

    Feb 22, 2017 7:48am
    Verizon Communications Inc. said it would buy Yahoo Inc.’s core business for US$4.48 billion, lowering its original offer by US$350 million in the wake of two massive cyber attacks at the internet company. The closing of...
  • PetroChina's parent, China National Petroleum Corp, is among the winners of stakes in Abu Dhabi's largest oil concession. Photo: Bloomberg

    Chinese firms grab 12% stake in Abu Dhabi oil project

    Feb 21, 2017 3:14pm
    Chinese firms have emerged as big winners in the contest among foreign bidders for stakes in Abu Dhabi’s largest oil concession, grabbing a combined 12 percent of the venture. Bloomberg reports that Abu Dhabi National Oil Co. the...
  • Hong Kong Disneyland hopes its financials will improve after the planned addition of new facilities. Photo: CNSA

    HK Disneyland loss widens in FY16 as visitor numbers fall 10%

    Feb 21, 2017 12:13pm
    Hong Kong Disneyland has reported a net loss of HK$171 million (US$22.03 million) for the fiscal year ending September 2016, posting back-to-back annual losses after a HK$140 million deficit in the previous year. In an announcement...
  • E-commerce giant Alibaba Group has struck a partnership with another brick-and-mortar Chinese retailer. Photo: Bloomberg

    Alibaba teams up with retail conglomerate Bailian Group

    Feb 21, 2017 8:40am
    Alibaba Group Holding has entered into a strategic partnership with China’s Bailian Group, in the e-commerce giant’s latest tie-up with a traditional brick-and-mortar retailer. “The companies will leverage the power of big data to achieve integration...
  • An Amazon package is seen after being delivered in London. The beefed-up workforce is expected to provide faster delivery, more selection and better value. Photo: Reuters

    Amazon to create 5,000 more jobs in Britain

    Feb 21, 2017 7:53am
    Online retailer Amazon is set to create more than 5,000 jobs in Britain this year, boosting its investment in the country once more even as it prepares to leave the European Union. Amazon, along with other...
  • Kim Dotcom and his co-accused reportedly cost film studios and record companies more than US$500 million and generated over US$175 million by encouraging paying users to store and share copyrighted material. Photo: Reuters

    NZ court rules Megaupload founder can be extradited to US

    Feb 20, 2017 4:31pm
    A New Zealand court ruled on Monday that internet entrepreneur Kim Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid...
  • Kraft Heinz has walked away from a 'friendly' bid for Anglo-Dutch rival Unilever as it felt a deal won't be easy. Photo: Reuters

    Kraft abandons US$143 bln offer for Unilever

    Feb 20, 2017 4:09pm
    Kraft Heinz Co. has withdrawn its offer for a US$143 billion merger with Unilever Plc., according to a joint announcement from the two companies on Sunday. Kraft, the US-based food giant, abandoned its plan for the...
  • Expensive rentals and labor shortage issues are challenges Haidilao’s Hong Kong operation has to overcome. Photo: Facebook

    Can Chinese hot pot chain Haidilao repeat its success in HK?

    - Feb 20, 2017 10:26am
    Only a few Chinese brands like Xiaomi, Taobao and WeChat have managed to break into the Hong Kong market, where people are still quite skeptical about the quality of products or services of mainland origin. Haidilao,...
  • Steel price recovery has shored up the bottom lines of Chinese steel mills, but it is adding to a structural problem within the industry.

    Don’t get over-excited about steel price rebound

    - Feb 17, 2017 3:57pm
    Commodity prices have rebounded as investors expect global economic growth to pick up steam. China’s iron ore price index surged nearly 90 percent in past one year and prices of steel products have also jumped. The...
  • Leshi founder Jia Yaoting says his company has been expanding too fast and that he needs to rein in its free-wheeling spending. Photo: Sohu

    Leshi pulls rabbit out of a hat yet again

    - Feb 17, 2017 1:42pm
    Hong Kong-listed Truly International Holdings (00732.HK) said Tuesday its subsidiary has agreed to invest 720 million yuan (US$104.9 million) in Leshi Zhixin, a smart TV unit of Shenzhen-listed Leshi Internet. It’s mind boggling how Leshi founder...
  • Mark Zuckerberg said Facebook could move far beyond its roots as a network for friends and families to communicate, and play a role in strengthening institutions and boosting civic engagement. Photo: Bloomberg

    Zuckerberg issues manifesto in fight against rising isolationism

    Feb 17, 2017 12:22pm
    Facebook Inc. chief executive Mark Zuckerberg laid out a vision of his company as a bulwark against rising isolationism, saying the world’s largest social network could be the “social infrastructure” for the globe. In a 5,700-word...
  • Samsung Group chief, Jay Y. Lee leaves for the Seoul Central District Court from the office of the independent counsel in Seoul. Photo: Reuters

    Samsung chief arrested in corruption probe

    Feb 17, 2017 8:16am
    Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye, Reuters reports. In a blow to the world’s biggest...

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