Date
23 July 2018

Business

  • Chinese e-bikes saw their market share in Europe rise to 35 percent, while their average prices fell by 11 percent. Photo: Reuters

    EU sets duties to limit imports of Chinese e-bikes

    Jul 19, 2018 9:26am
    The European Union will impose duties on Chinese electric bicycles in a move to curb cheap imports that European producers say are flooding the market, Reuters reports. The anti-dumping duties, to start on Thursday, are the...
  • Google has been experimenting with new inroads to China, where the majority of its products are blocked by Chinese authorities as part of their censorship measures. Photo: AFP

    Google launches game on Tencent’s WeChat

    Jul 19, 2018 9:09am
    Alphabet Inc.’s Google said it has launched an artificial intelligence (AI) game on Tencent Holdings Ltd.’s social media app WeChat, Reuters reports. The US technology firm has been experimenting with new inroads to China, where the...
  • EU antitrust chief Margrethe Vestager said “Google has used Android as a vehicle to cement the dominance of its search engine" over rivals. Photo: Reuters

    Europe hits Google with record US$5 billion antitrust fine

    Jul 19, 2018 8:54am
    European antitrust regulators fined Google a record 4.34 billion euros (US$5 billion) on Wednesday and ordered it to stop using its popular Android mobile operating system to block rivals, Reuters reports. The US tech company said...
  • Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan (US$93.8 million) and possibly another 5.0 percent stake in the next 12 months. Photo: Reuters

    Alibaba to acquire minority stake in Focus Media

    Jul 19, 2018 8:11am
    Chinese e-commerce giant Alibaba Group Holding Ltd. has agreed to acquire a minority stake in China’s Focus Media Information Technology Co. Ltd. (002027.CN) to tap into the digital marketing sector, Reuters reports. Alibaba will acquire about...
  • Fed Chairman Jerome Powell warned that companies are taking into account the implications of the trade conflict in their investment decisions. Photo: Reuters

    Fed walks careful line on trade but downside risks emerge

    Jul 19, 2018 7:37am
    Federal Reserve Chairman Jerome Powell’s official line on US trade policy is one of careful deference to the Trump administration, acknowledging it is outside the Fed’s responsibility and that it might all turn out for the...
  • Niantic, the creator of Pokémon Go, believes the Seismic Games deal will help add to its strengths in augmented reality games. Photo: Reuters

    Niantic, creator of Pokémon Go, acquires Seismic Games

    Jul 18, 2018 6:13pm
    Niantic, the US firm best known for the Pokémon Go game, has announced the acquisition of yet another developer as it seeks to boost its strength in the augmented reality gaming business. The San Francisco-based company...
  • Founded in September 2015, the company plans to raise up to US$1.63 billion in a US listing. Photo: Reuters

    Pinduoduo taps social networks to challenge e-commerce giants

    - Jul 18, 2018 1:20pm
    China is now the world’s leader in e-commerce activities, with firms like Alibaba Group Holding Ltd. and JD.com Inc. undertaking hundreds of millions of buying and selling of products online each day. But apart of Alibaba’s...
  • More than 80 percent of Singapore consumers have adopted electronic payments, a senior government official said recently. Photo: Reuters

    HK vs Singapore: Who will be the digital payments leader?

    - Jul 18, 2018 10:12am
    With Singapore committed to becoming an electronic payments society under its fast-developing Smart Nation initiative and Chinese cities like Shanghai and Beijing strengthening their position as kings of the cashless revolution, we have often heard a...
  • David Solomon will take over as CEO of investment banking giant Goldman Sachs on October 1. Photo: Reuters

    Goldman pressed on strategy as Solomon confirmed as new CEO

    Jul 18, 2018 9:45am
    Goldman Sachs Group was pressed for details on new businesses after an uneven second-quarter performance, as the US investment bank prepares for a leadership change, Reuters reports. The Wall Street bank on Tuesday confirmed that David...
  • Berkshire Hathaway, controlled by billionaire investor Warren Buffett, has loosed its policy on stock repurchases. Photo: Reuters

    Buffett’s Berkshire Hathaway eases policy on stock buybacks

    Jul 18, 2018 9:08am
    Berkshire Hathaway has eliminated a restriction on its ability to buy back its own stock, a change that could help billionaire chief Warren Buffett deploy more of the conglomerate’s cash, Reuters reports. The new policy approved...
  • Fairfax Media said the printing alliance is expected to result in an annualized benefit of about A$15 million (US$11.1 million). Photo: Reuters

    Australia’s Fairfax to share print costs with rival News Corp

    Jul 18, 2018 8:58am
    Fairfax Media said on Wednesday it had agreed with rival News Corp.’s Australian unit to collaborate on printing newspapers to curb costs, Reuters reports. The publisher of the Sydney Morning Herald and Australian Financial Review newspapers...
  • The Boeing 747-8s are designed to be an airborne White House able to fly in worst-case security scenarios, such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system. Photo: Reuters

    Boeing wins US$3.9 billion contract for new Air Force One jets

    Jul 18, 2018 8:51am
    Boeing Co. has received a US$3.9 billion contract to build two 747-8 aircraft for use as Air Force One by the US president, due to be delivered by December 2024 and painted red, white and blue,...
  • Vatti's pledge to refund buyers of its products should France win the World Cup would cost the firm 79 million yuan, a small sum compared to its huge marketing expenses. Photo: Vatti

    Vatti’s World Cup bet on France: a win or a loss?

    - Jul 18, 2018 8:31am
    Vatti Corp., a leading vendor of kitchen appliances that sponsored France in the just-concluded FIFA World Cup, had promised to fully rebate customers who bought its products under the Champion Plan from June 1 to July 3...
  • Federal Reserve Chairman Jerome Powell said recent economic data makes him feel the country’s near decade-long expansion is set to continue. Photo: Reuters

    Fed chief sees years of strong jobs, low inflation

    Jul 18, 2018 8:22am
    Federal Reserve Chairman Jerome Powell said he sees the United States on track for years more of steady growth, Reuters reports. US stocks rose on Powell’s upbeat comments on Tuesday, while bond prices fell and the...
  • Two years after being acquired by Pinterest, Instapaper is going independent again. Image: Screengrab from Instapaper website

    Online bookmarking service Instapaper breaks away from Pinterest

    Jul 17, 2018 6:14pm
    Online bookmarking service Instapaper is becoming an independent entity once again, breaking free from the corporate umbrella of visual discovery app Pinterest. In an announcement Monday, Instapaper said Pinterest has “entered into an agreement to transfer...
  • Tech billionaire Peter Thiel (right) and Jihan Wu (left), co-founder of bitcoin miner Bitmain, have invested in blockchain platform startup Block.one. Photo: Block.one, Bloomberg

    Peter Thiel, Bitmain place bets on blockchain startup Block.one

    Jul 17, 2018 5:10pm
    Blockchain platform startup Block.one said it has closed a new funding round led by the tech billionaire Peter Thiel and Bitmain, a Chinese startup dominating the bitcoin mining industry. The amount raised is not disclosed in...
  • Paschal Lennon, director of global major projects at Otis, said the company's innovative building technology solutions fit into the Hong Kong government’s smart city initiative. Photo: HKEJ

    Otis unveils new technology for safer, personalized lift service

    - Jul 17, 2018 2:30pm
    An increase in the number of accidents involving malfunctioning lifts, which have resulted in injuries of several people, has raised concerns over the safety and reliability of elevator systems in Hong Kong. Otis, a manufacturer and...
  • A file photo shows an MTR employee assisting a customer standing near ticket machines inside a rail station. Hong Kong’s railway operator is now seeking to enhance its electronic fare payment systems. Photo: Bloomberg

    Why MTR is looking to upgrade its fare collection system

    - Jul 17, 2018 2:06pm
    Octopus cards have become an integral part of the lives of Hong Kong people after the stored-value product was launched in the city almost 21 years ago. Over the years, the smart card has seen an...
  • Hang Lung chairman Ronnie Chan (right) gave Philip Chen a very generous parting gift even after the group's share price has halved. Photo: HKEJ

    Philip Chen got HK$270 million for eight years in Hang Lung

    - Jul 17, 2018 12:17pm
    When it comes to rewarding his management team, Hang Lung Group chairman Ronnie Chan is no doubt generous. Take the case of Philip Chen whom he had lured from Cathay Pacific eight years ago with a HK$20...
  • Further earnings upside and favorable sector exposure to technology are some of the attractions of US stocks. Photo: Reuters

    Rethinking multi-asset income investing for the risky late cycle

    Jul 17, 2018 10:44am
    The first half of 2018 has not been easy going for multi-asset income investors. The MSCI World High Dividend Index has underperformed MSCI World Index by several percentage points as steady dividend paying stocks have struggled...

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