Date
24 January 2018

Industries

  • Bitcoin could retreat further and slip below the US$6,000 mark, according to Citi analysts. Photo: Reuters

    Bitcoin falls below US$10,000 as selloff continues

    Jan 18, 2018 8:53am
    Bitcoin fell below the US$10,000 level on Wednesday as a selloff continued in cyrptocurrencies amid fears of a regulatory clampdown on the units in various countries including South Korea and China. The world’s biggest virtual currency...
  • Telecom and media entrepreneur Ricky Wong appears to be confident about the prospects of his group's e-commerce platform. Photo: HKEJ

    Can HKTV win Hong Kong e-commerce battle?

    - Jan 17, 2018 1:07pm
    Hong Kong has been a laggard relative to other mature markets in the region in latching onto the e-commerce trend, but the territory is now trying to catch up as consumer shopping habits change.    Thanks...
  • The basic idea of rebalancing is to switch to stocks that offer better value. Photo: Reuters

    Why rebalancing is best defense against sudden market downturn

    - Jan 17, 2018 1:04pm
    In fund management, making money in a bull market is only half of the job. The other half is preserving the gains during a market downturn. However, there may not always be clear signs that the market...
  • Google denied media reports that it was re-launching its Google Maps platform in China. Photo: Reuters

    Google denies mapping service returning to China

    Jan 17, 2018 12:51pm
    Alphabet Inc.’s Google denied media reports that the technology giant was re-launching its mapping platform in China, after eight years of the service being severely restricted. The world’s largest internet search engine said “there have been no...
  • The 2018 Finwise Summit, held in Macau over the weekend, was attended by over 3,000 people, making it the most popular blockchain meeting in the world. Photo: finwisesummit.org

    Why Macau has become the new cryptocurrency hub

    - Jan 17, 2018 9:45am
    Quite a few people from the startup and tech community in Hong Kong were out of town recently, but, no, they weren’t in Shanghai or Israel. Most of them were visiting the neighboring city of Macau....
  • General Electric is re-evaluating its strategy and structure, and may split its major divisions into separately traded units. Photo: Reuters

    GE considering breakup as financial troubles worsen

    Jan 17, 2018 9:41am
    General Electric Co. is considering breaking itself up after a sharp shortfall in profits last year, the Wall Street Journal reports, citing chief executive John Flannery. Flannery said the Boston-based group is re-evaluating its strategy and...
  • A demonstrator opposed to the rollback of net neutrality rules holds a sign outside the US Federal Communications Commission's headquarters in Washington DC, in this picture from Dec. 14. Credit:  Bloomberg

    US states file lawsuit in bid to keep net neutrality

    Jan 17, 2018 9:08am
    A group of 21 state attorneys general in the United States filed a lawsuit on Tuesday to challenge the Federal Communications Commission’s decision to do away with net neutrality, Reuters reports. The state attorneys, including those...
  • Pierre Forte, founder and CEO of Pragma Industries, said the Alpha bike runs for about 100 kilometers on a two-liter tank of hydrogen. Photo: Reuters

    French startup launches hydrogen-powered bicyles

    Jan 17, 2018 8:59am
    A French startup has become the first company to start factory production of hydrogen-powered bicycles for use in corporate or municipal fleets. Pragma Industries, which is based in Biarritz, France and makes fuel cells for military...
  • Following a massive slide this week, bitcoin is down almost 50% from its record high near US$20,000 hit in mid-December. Photo: Reuters

    Cryptocurrencies plunge on regulatory crackdown fears

    Jan 17, 2018 8:50am
    Bitcoin lost a quarter of its value in early Asian trading hours on Wednesday amid mounting fears of a regulatory crackdown on cryptocurrencies, with investors unnerved by reports suggesting potential action from South Korean and Chinese...
  • A.P. Moller-Maersk said the trading platform will be made available to the ocean shipping industry by the middle of this year. Photo: Bloomberg

    Maersk, IBM to launch blockchain-based platform for global trade

    Jan 17, 2018 8:46am
    The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. Success of the platform, which will...
  • Ponhu-Luxury, which operates TRUETRUE, a trading platform for second-hand luxury goods, has raised 100 million yuan in a Series A funding round. Photo: TRUETRUE homepage

    Ponhu-Luxury raises 100 mln yuan for TRUETRUE trading platform

    Jan 16, 2018 6:40pm
    Ponhu-Luxury, which operates TRUETRUE (www.52Panghu.com), a trading platform for second-hand luxury goods, has raised 100 million yuan (around US$15 million) in a Series A funding round. The investors were led by Trinity Capital and include 1898 Venture Capital and...
  • US lawmakers are reportedly advising American firms to steer clear of partnerships with Huawei and other Chinese telecoms companies. Photo: Reuters

    US lawmakers urge AT&T to cut all ties with Huawei: report

    Jan 16, 2018 3:47pm
    US lawmakers are calling on AT&T to cut all commercial ties to Chinese telecom equipment maker Huawei Technologies due to perceived national security concerns, according to Reuters. Citing two unidentified congressional aides, the news agency reports that...
  • Lego has joined hands with Tencent to create branded video games targeted at children in China. Photo: Bloomberg

    Lego partners with Tencent on online games for Chinese kids

    Jan 16, 2018 1:22pm
    Toymaker Lego has teamed up with Chinese internet giant Tencent to create branded video games and potentially a new social network targeting children in China. In a statement Monday, Lego said the partnership with Tencent aims...
  • Dogecoin, a cryptocurrency created by Jackson Palmer (inset), gained a market value of over US$2 billion last week. Photo: Dogecoin/Twitter

    Cryptocurrencies set to burst, Dogecoin creator warns

    Jan 16, 2018 12:16pm
    Dogecoin, a cryptocurrency that started as a parody, achieved a market value of over US$2 billion last week. Amid its skyrocketing value, its creator, Jackson Palmer, recently expressed his concern about the massive speculation over bitcoin...
  • Even tech giants like Google are jumping on the internet television bandwagon. Google launched its YouTube TV in the US market last year. Photo: Youtube

    Internet television is an irreversible trend

    - Jan 16, 2018 10:28am
    Hong Kong’s traditional TV industry is feeling growing pressure from internet-based over-the-top (OTT) services. Television Broadcasts (TVB), the city’s largest broadcaster, has launched TVB Anywhere OTT service to tap the international market. PCCW-backed Viu has also...
  • Following a "mutual understanding" between Apple and Tencent, WeChat users will be able to resume doling out monetary gifts to their favorite content creators. Photo: Bloomberg

    Apple, Tencent reach deal over WeChat ‘tipping’ feature

    Jan 16, 2018 9:30am
    Apple and Tencent have reached a deal that will allow the users of WeChat, Tencent’s popular messaging app, to resume giving in-app monetary gifts to content creators, the Wall Street Journal reports. At a developers’ conference...
  • A Colorado pension fund has launched a lawsuit accusing nine large banks of rigging a key Canadian lending rate. Photo: Bloomberg

    Nine banks accused of rigging Canadian rate benchmark

    Jan 16, 2018 9:04am
    Nine large banks, including HSBC and several Canadian lenders, have been accused in a US lawsuit of conspiring to rig a Canadian rate benchmark to improve profits from derivatives trading, Reuters reports. The complaint, filed by...
  • Authorities want to curb cryptocurrency trading amid concerns over excessive speculation, money laundering and tax evasion. Photo: AFP

    China to step up crackdown on cryptocurrency trading: report

    Jan 16, 2018 9:02am
    China is stepping up its clampdown on cryptocurrency trading, and is now targeting online platforms and mobile apps that offer exchange-like services, Bloomberg reports, citing people familiar with the matter. Authorities said alternative venues have cropped up...
  • Effective regulation of virtual currencies such as bitcoin could only be achieved through international cooperation because nations have limited regulatory power, said Joachim Wuermeling, a board member of Germany’s Bundesbank. Photo: Reuters

    Any rule on bitcoin must be global, Germany’s central bank says

    Jan 16, 2018 8:40am
    Any attempt to regulate cryptocurrencies such as bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community, Reuters quotes a director at Germany’s central...
  • Boeing unveils a prototype of a cargo drone (inset) that can carry a payload of up to 500 pounds. The drone weighs 747 pounds and measures 15 feet long, 18 feet wide and 4 feet tall. Photo: Reuters/Boeing

    Boeing unveils prototype of giant cargo drone

    Jan 15, 2018 6:17pm
    Aircraft maker Boeing has unveiled a prototype of a cargo drone. Described by the company as an “unmanned electric vertical-takeoff-and-landing cargo air vehicle prototype”, the drone weighs 747 pounds and measures 15 feet long, 18 feet wide...

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