Rachel Reeves’s spring statement must offer “a bit of a reset”, George Osborne, a former chancellor, has warned. “The government didn’t get off to the best of starts but they had a lot of goodwill,” he told Bloomberg TV at the HSBC Global Investment Summit in Hong Kong. “They inherited a lot of problems but…
Published: March 6, 2025 at 6:00 a.m. ET Investors got what they wanted on Wednesday — temporary tariff relief from the Trump administration that finally halted a two-day selloff that sent the stock market into a tailspin earlier this week. However, so-called reciprocal tariffs on foreign imports from all major U.S. trading partners are still coming in…
Finance ministers from developed Western economies would “be happy” to have Hong Kong’s level of deficits and reserves, economic experts have said, stressing that the city remains robust financially while having more room for bond issuances. The economists were speaking at a panel discussion on Monday at the Redefining Hong Kong Series 2025: Budget Edition…
Social media in China has been left awestruck by a story of serendipity that brought a couple together with a car accident. A 36-year-old man, surnamed Li, and his 23-year-old wife tied the knot in central China’s Hunan province in February. When they “met” each other in December 2023, he was the driver of a…
The default of a major Hong Kong property developer could send shock waves through the broader sector and scuttle a potential recovery in the residential market, according to S&P Global Ratings. “Hong Kong’s residential property recovery may be slipping out of view,” the credit-rating agency said in a report on Thursday. “S&P Global Ratings believes…
The US Federal Reserve’s favorite inflation gauge came in pretty plain vanilla Friday, perhaps pointing the way toward Wall Street’s favorite flavor: rate cuts. But even that bit of good news wasn’t enough to calm investors trying to read the tea leaves as to what the White House will or won’t do, means or doesn’t…
US government faces a “Fork in the road,” just as Twitter did when Musk bought the company in 2022. Musk’s Twitter job cuts were partly driven by the need to save money for big debt payments. US government debt has also soared, leaving annual interest payments over $1 trillion. President Donald Trump‘s administration has launched…
A Hong Kong court delayed a hearing on Sino-Ocean Group Holding Ltd.’s restructuring agreement with lenders, as the state-linked builder awaits a decision later this month on a UK case involving a debt plan for all creditors. Sino-Ocean earlier said that a group of loan lenders holding 86.2% of its debt had voted in favor…
Embattled Hong Kong developer New World Development (NWD) said Thursday night that it will continue to prioritise real estate development as its core business this year and proceed with project launches, amid market rumours that the company is at risk of a default. Residential sales in Hong Kong continue to improve, and the company will…
Donald Trump is used to managing debt. But not like this. As a real estate developer, Trump relied heavily on borrowed money to fund projects. Trouble paying back his debts contributed to six business bankruptcies. Trump battled back by writing off some loans, refinancing others, finding new lenders, and changing his business model. The public…