Date
21 July 2019

Finance

  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • The value of Facebook's Libra currency will be fixed in terms of a global basket of currencies and 100 percent backed – presumably by a mix of government treasuries. Photo: Reuters

    Thumbs down to Facebook’s cryptocurrency

    - Jul 3, 2019 9:54am
    Facebook and some of its corporate allies have decided that what the world really needs is another cryptocurrency, and that launching one is the best way to use the vast talents at their disposal. The fact...
  • China is moving forward the schedule for ending foreign ownership limits in the financial sector, Premier Li Keqiang said on Tuesday. File photo: Reuters

    China to scrap ownership limits in financial sector in 2020

    Jul 2, 2019 4:42pm
    China will end ownership limits for foreign investors in its financial sector in 2020, a year earlier than scheduled, Premier Li Keqiang said on Tuesday. “We will achieve the goal of abolishing ownership limits in securities,...
  • Given the wild fluctuations, bitcoin investors could fall from heaven to hell in just a couple of hours.  Photo: Reuters

    Should we jump on the bitcoin bandwagon now?

    - Jul 2, 2019 4:32pm
    Bitcoin is in the news again. Facebook’s plans to issue a cryptocurrency called Libra and march into the electronic payment arena have generated a lot of hype for cryptocurrencies again. But I think the real reason...
  • After 2012, the euro crisis started to look more manageable only after the euro began depreciating against the dollar. Photo: Reuters

    A future without currency wars?

    - Jul 2, 2019 10:39am
    The terrible experience of the 1930s should remind us that trade and currency wars go together like a horse and carriage. Now that US President Donald Trump’s administration is fully implementing his protectionist “America First” agenda,...

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