20 July 2019

Finance & Property

  • As the eurozone is at risk of being destabilized by asymmetric shocks, a larger, cross-border capital market can help mitigate the threat, the authors argue. Photo: Bloomberg

    What’s next for Europe capital markets?

    - Jul 19, 2019 9:41am
    When the United Kingdom eventually leaves the European Union – assuming it does – it will take Europe’s biggest capital market with it. The loss of the City of London could drive the EU’s 27 remaining...
  • OYO founder Ritesh Agarwal has adopted an aggressive expansion model in the China market. Photo: Bloomberg

    India’s budget hotel startup OYO takes the fast lane in China

    - Jul 19, 2019 9:29am
    In less than two years, Indian budget hotel operator OYO has become the largest hotel chain in China. Jinjiang Inn, Huazhu Hotels Group and Home Inns Group used to occupy the top three positions. They control...
  • Sources cite regulatory hurdles for the move by Lufax to exit the peer-to-peer lending business. Photo: Reuters

    Ping An-backed Lufax to exit P2P lending business: report

    Jul 19, 2019 9:25am
    Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance (02318.HK, 601318.CN), plans to exit its once-core peer-to-peer lending (P2P) business, Reuters reports, citing three sources with direct...
  • Finance ministers and central bank governors from the G7 group of advanced economies meet in Chantilly, north of Paris, on Wednesday. Photo: Reuters

    G7 finance chiefs pour cold water on Facebook’s Libra plans

    Jul 18, 2019 9:23am
    Group of Seven finance chiefs cast a cloud over prospects for Facebook’s Libra digital coin, insisting tough regulatory problems would have to be worked out first, Reuters reports. The massive social media company’s plan to launch...
  • Cryptocurrencies are routinely launched and traded outside the domain of official financial oversight. Photo: Reuters

    The Great Crypto Heist

    - Jul 17, 2019 10:25am
    There is a good reason why every civilized country in the world tightly regulates its financial system. The 2008 global financial crisis, after all, was largely the result of rolling back financial regulation. Crooks, criminals, and...
  • As Hong Kong grapples with social disturbances in the wake of a controversial extradition bill, some companies have cancelled or postponed their IPO fund-raising plans. Photo: Reuters

    Hong Kong loses IPO crown; social unrest to blame

    - Jul 17, 2019 10:24am
    Budweiser APAC scrapped its plan to raise up to HK$76 billion in a Hong Kong listing, a deal that could have marked the world’s biggest IPO this year. Last month, Hutchison Chi-Med, a biopharmaceutical company backed by...
  • David Marcus, who oversees Facebook’s blockchain efforts, said partners providing financial services with Libra will be required to comply with anti-money laundering rules. Photo: Reuters

    Facebook vows Libra currency will wait for approval

    Jul 16, 2019 9:19am
    Facebook Inc. said it will not proceed with the launch of its Libra cryptocurrency until regulatory concerns are addressed, as the US Treasury secretary said he has serious concerns it could be used for illicit activity,...
  • PayPal aims to grab bigger share of the global remittances market. Photo: Bloomberg

    PayPal launches money transfer service Xoom across Europe

    Jul 16, 2019 9:06am
    US payments company PayPal is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent, Reuters reports. Xoom allows customers to transfer money abroad to...
  • Louisa Mak is seen with her parents at the sales office of the T Plus residential project in Tuen Mun on Sunday. Photo: HKEJ

    Miss Hong Kong buys three of the smallest flats in the city

    - Jul 15, 2019 11:49am
    Miss Hong Kong is a ticket to fame and fortune. Winners of the annual beauty pageant, which was established in 1973, usually end up marrying some rich guy and living in luxury. They certainly don’t end...
  • Early investors in Chinese internet giant Tencent have reaped returns that nobody had imagined back then. Photo: Reuters

    What we can learn from Hillhouse’s Tencent bet

    - Jul 11, 2019 11:55am
    Like most graduate students, Zhang Lei, now CEO of Hillhouse Capital, was trying hard to find an intern job in 1998. But he didn’t have much luck and failed to get into the last round after...
  • New Greek Prime Minister Kyriakos Mitsotakis (left) meets with outgoing Prime Minister Alexis Tsipras at the Maximos Mansion in Athens on Monday. Photo: Reuters

    Greece: Defeat of populism at the hands of reality

    - Jul 11, 2019 10:40am
    The defeat of Alexis Tsipras in Greece is the loss of those who came to power promising that two plus two would equal twenty-two, of paper promises and policies that harm those that they pretend to...
  • James Dyson bought the three-storey penthouse at the top of Singapore’s tallest building, Tanjong Pagar Centre (right), for S$73.8 million (US$54.2 million).  Photo: Reuters

    UK billionaire Dyson snaps up Singapore’s priciest penthouse

    Jul 10, 2019 4:53pm
    British billionaire and inventor of the bagless vacuum cleaner James Dyson has bought the most expensive apartment in Singapore, where his company plans to build an electric car. The three-storey “super penthouse” at the top of...
  • China Merchants Bank said the mistakes in relevant transactions “had gone through friendly negotiations and were corrected based on normal market rates” with its counterparty. Photo: Bloomberg

    Ping An Bank, China Merchants Bank traders suspended

    Jul 9, 2019 8:42am
    China’s central bank said it has suspended some traders at Ping An Bank and China Merchants Bank for a year for involvement in “abnormal” trades, Reuters reports. The People’s Bank of China (PBoC) has required the...
  • Geoffrey Berman, US attorney for the Southern District of New York, points to a photograph of Jeffrey Epstein as he announces the filing of charges against the financier on Monday. Photo: Reuters

    Financier Epstein pleads not guilty to sex trafficking charges

    Jul 9, 2019 8:14am
    American financier Jeffrey Epstein pleaded not guilty to charges of sex trafficking as prosecutors accused him of luring dozens of girls as young as 14 to his luxury homes in New York and Florida and paying...
  • A man sweeps the floor at a Deutsche Bank office in London on Monday. Photo: Reuters

    Deutsche Bank careers end in an envelope, a hug and a cab ride

    Jul 9, 2019 7:43am
    Summoned by HR to be handed an envelope, many Deutsche Bank staff across the world then left their desks for the last time on Monday, shown the door by their German employer within hours of a...
  • Money-losing WeWork has faced questions about the sustainability of its business model. Photo: Bloomberg

    WeWork seeks up to US$4 billion in debt before IPO: report

    Jul 8, 2019 9:19am
    Shared office space manager WeWork Cos is looking to raise US$3 billion to US$4 billion in debt before it goes public, Reuters reports, citing a person familiar with the matter. The potential debt offering underscores the...
  • Deutsche Bank will scrap its global equities business, scale back its investment bank and also cut some of its fixed-income operations. Photo: AFP

    Deutsche Bank to cut 18,000 jobs in 7.4 billion euro overhaul

    Jul 8, 2019 8:38am
    Deutsche Bank is set to axe vast swathes of its trading desks in a restructuring that will see 18,000 jobs go and cost 7.4 billion euros (US$8.3 billion), Reuters reports. The plan represents a major retreat...
  • Since 1947, the Coppock Indicator has sent 19 buy signals for the S&P 500. And market statistics show that it gave only three false signals during the period. Photo: Reuters

    How Coppock Indicator should be used

    - Jul 5, 2019 12:42pm
    The Coppock Indicator has proved to be a reliable gauge for making medium- to long-term calls. A buy signal is triggered when it crosses into positive territory while a sell signal is given when it enters...
  • Christine Lagarde can be diplomatic in public while speaking her mind in private, as her largely successful tenure at the IMF shows. Photo: Bloomberg

    Lagarde is the right choice

    - Jul 5, 2019 10:36am
    The choice of Christine Lagarde, the managing director of the International Monetary Fund and a former French finance minister, to succeed Mario Draghi as president of the European Central Bank, is controversial. It should not be....
  • Future Land saw billions of dollars get wiped out from its market value following reports that its founder Wang Zhenhua (inset) has been detained by Shanghai police. Photos: Future Land, Bloomberg

    How CEOs’ personal lives can bring investment risk

    - Jul 5, 2019 10:30am
    Stock-picking can be hard. While understanding a company is challenging enough, personal conduct of CEOs can sometimes bring unexpectedly large risks. On Wednesday, the share price of Future Land Development Holdings (01030.HK) plunged 24 percent on...

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