Date
17 September 2019

Business

  • The London Stock Exchange reportedly wants to focus on completing its US$27 billion proposed acquisition of Refinitiv rather than risk it being derailed by the Hong Kong bourse, Photo: Bloomberg

    LSE board set to meet for decision on HKEx bid: report

    Sep 13, 2019 9:19am
    The London Stock Exchange’s board will meet in coming days to decide on the Hong Kong bourse’s surprise US$39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured...
  • Low interest rates are good for economic growth, but one can’t say the same thing about negative rates, US Treasury Secretary Steven Mnuchin said. Photo: Bloomberg

    US to consider ultra-long Treasury bonds: Mnuchin

    Sep 13, 2019 9:15am
    The United States will issue 50-year government bonds if there is “proper demand”, and could also explore the possibility of 100-year debt, US Treasury Secretary Steven Mnuchin said on Thursday. “We are going to start with...
  • Washington and Beijing have made some conciliatory gestures as they prepare for new rounds of talks to resolve their trade dispute. Photo: Reuters

    Trump says he prefers ‘whole’ China trade deal over interim pact

    Sep 13, 2019 9:01am
    US President Donald Trump said on Thursday that he prefers a comprehensive trade deal with China but did not rule out the possibility of an interim pact, Reuters reports. “I’d rather get the whole deal done,”...
  • Following a slide in passenger numbers in the wake of the social disturbances in Hong Kong, Cathay is seeking to cut costs in various ways. Photo: Reuters

    Cathay Pacific freezes new hiring, to focus on cost cuts

    Sep 12, 2019 3:13pm
    Cathay Pacific Airways has put a freeze on new hiring as it battles a slump in demand from fliers avoiding Hong Kong amid the months-long civil unrest in the city, Reuters reports. In a memo to staff...
  • Argentina has unveiled further measures to tamp down currency speculation amid a debt crisis. Photo: Bloomberg

    Argentina announces new round of currency controls

    Sep 12, 2019 2:56pm
    Argentina’s central bank has announced further currency controls in an effort to tame speculation and stem a spiraling debt crisis in the country. The new measure, unveiled late on Wednesday, requires anyone purchasing foreign currency to present...
  • Tim Cook speaks at Apple’s annual fall event at the firm’s headquarters in Cupertino, California, on September 10. Photo: Reuters

    Apple’s fall event: It’s more than just about new iPhones

    - Sep 12, 2019 1:35pm
    Apple held its annual fall event on Tuesday, taking the lid off new products and services and aiming to generate excitement in the market ahead of the crucial holiday season.  As expected by many industry observers,...
  • Zozo’s founder Yusaku Maezawa will step down as CEO after selling most of his stake in the firm to Yahoo Japan. Photo: Reuters

    Yahoo Japan to buy control of online fashion retailer Zozo

    Sep 12, 2019 11:15am
    Yahoo Japan said on Thursday that it aims to buy 50.1 percent stake in online fashion retailer Zozo for about 400 billion yen (US$3.7 billion), Reuters reports. Zozo founder Yusaku Maezawa will sell around 30 percent...
  • Hong Kong Exchanges and Clearing CEO Charles Li has made a daring move, but he admits he came in a bit late. Photo: Bloomberg

    HK-British corporate takeover drama: money can’t buy you love?

    - Sep 12, 2019 10:37am
    If Wednesday’s surprise announcement by the Hong Kong Exchanges and Clearing (HKEx, 00388.HK) of its proposal to acquire the London Stock Exchange (LSE) were a drama, would it be a comedy or a tragedy? Well, some...
  • Although America is still the world’s leading economic, technological, and military power, it increasingly must share that status with China, the author says. Photo: Reuters

    Preventing Cold War II

    - Sep 12, 2019 10:28am
    When world leaders gather in New York later this month for the annual United Nations General Assembly meetings, they will have much to discuss besides climate change and sustainable development. In particular, the escalating superpower rivalry...
  • HKEx appears confident its LSE proposal will face no major regulatory hurdles, but closing a deal will be anything but easy. Photo: Bloomberg

    HKEx seen facing uphill battle on US$39 bln bid for LSE

    Sep 12, 2019 10:17am
    Hong Kong Exchanges and Clearing (HKEx) unveiled a US$39 billion takeover approach to the London Stock Exchange (LSE) on Wednesday that received a cool response from investors concerned about its regulatory and financial hurdles. To prevail,...
  • California Governor Gavin Newsom has backed a legislative push that will make it harder for firms such as Uber and Lyft to classify workers as independent contractors. Photo: Bloomberg

    California Senate passes bill to tighten ‘gig’ worker rule

    Sep 12, 2019 9:17am
    The California State Senate voted on Tuesday to pass a bill that would make it much more difficult for gig economy companies like Uber and Lyft to classify workers as independent contractors rather than employees, Reuters...
  • Donald Trump answers questions from the news media in the Oval Office of the White House in Washington on Wednesday. Photo: Reuters

    US to delay tariff hike on some Chinese goods by 2 weeks: Trump

    Sep 12, 2019 9:04am
    The United States has agreed to delay increasing tariffs on US$250 billion worth of Chinese imports from Oct. 1 to Oct. 15 “as a gesture of goodwill”, President Donald Trump said on Wednesday. Trump said the...
  • The Hong Kong Exchanges and Clearing's bid to take over the London Stock Exchange comes as Britain is set to leave the European Union and Hong Kong is beset by months of political turmoil. Photo: CNSA/Bloomberg

    HKEx makes US$39 billion bid for London Stock Exchange

    Sep 11, 2019 5:55pm
    Hong Kong Exchanges and Clearing (00388.HK) has made an unsolicited US$39 billion takeover bid for the London Stock Exchange, an offer contingent on the LSE ditching its acquisition of data company Refinitiv. The combination would help...
  • President Xi Jinping has vowed to build a better business environment and ensure equal market access for the private sector. Photo: Reuters

    Xi pledges more support for private firms: Is he serious?

    - Sep 11, 2019 5:02pm
    China has unveiled a package of measures to stimulate economic growth, including cutting the amount of cash banks are required to keep on reserve. In particular, at a key Communist Party meeting held on Monday, President...
  • South Korean firms are 'faced with serious damage' as a result of Japan's export curbs, Trade Minister Yoo Myung-Hee said on Wednesday. File photo: Bloomberg

    S Korea to file WTO complaint over Japan’s export curbs

    Sep 11, 2019 11:51am
    South Korea plans to file a complaint at the World Trade Organization (WTO) over Japan’s tighter export controls, accusing Tokyo of being “politically motivated” and “discriminatory” in its policy moves, Reuters reports. “We have decided to...
  • WeWork may seek a US$15-18 billion valuation in an IPO, down from the US$47 billion value it commanded in a private fundraising round in January, according to a report. Photo: Reuters

    WeWork pursues IPO despite SoftBank call for delay: report

    Sep 11, 2019 11:00am
    Office-sharing startup WeWork is said to be pressing ahead with plans for an initial public offering despite calls by the firm’s largest private investor, Japan’s SoftBank Group, to delay the share sale due to valuation concerns. The...
  • Facebook's Libra cryptocurrency project is facing growing scrutiny from regulators around the world. Photo: Reuters

    FATF chief says closely monitoring Facebook’s Libra

    Sep 11, 2019 9:53am
    The Financial Action Task Force (FATF), the global anti-money laundering watchdog, is closely monitoring developments on Facebook’s planned Libra cryptocurrency, the agency’s new chief said on Tuesday. “We want to make sure that if there are significant...
  • Phil Schiller, Apple’s Senior Vice President of Worldwide Marketing, presents the new iPhone 11 Pro at an event in Cupertino, California, on Tuesday. Photo; Reuters

    Apple unveils triple-camera iPhone; cheaper streaming TV service

    Sep 11, 2019 9:01am
    Apple on Tuesday unveiled its latest product lineup which included a triple-camera iPhone, and also announced a new streaming TV service priced at US$5 a month, undercutting Disney and Netflix. The long-awaited Apple TV+ streaming television...
  • King Fook sources products worldwide and invites VIPs to the shop to try them on. Photo: King Fook/Facebook

    Social unrest a wake-up call for local retailers

    - Sep 10, 2019 4:23pm
    People from all walks of life are being affected by the ongoing unrest in Hong Kong. But King Fook Holdings (00280.HK) has managed to buck the trend. Founded by the late Young Chi-wan in 1948, King Fook...
  • Huawei said it failed to get a full explanation from the US over an ‘arbitrary and unlawful’ detention of some equipment for two years. Photo: Reuters

    Huawei drops lawsuit against US over seized equipment

    Sep 10, 2019 3:57pm
    Huawei Technologies has dropped a lawsuit against the US government after Washington released telecoms equipment it had seized on suspicion of violations of export controls, Reuters reports. The Chinese firm, which has been placed on a...