Here we go again. This week, the Senate unveiled, honed and passed its version of the “Big Beautiful Bill,” and it’s a fiscal monstrosity. What was already an oversized mess in the House has been supersized into a $4-trillion ode to unseriousness. This isn’t tax reform. It’s a bipartisan piñata stuffed with pork, gimmicks and…
Nearly 100 Hongkongers have been scammed out of HK$90 million (US$11.6 million) in just one week by online fraudsters posing as investment experts to lure victims into betting on cryptocurrency and stocks by offering fake insider knowledge and tips. One 84-year-old businessman suffered the largest single loss when he was deceived into investing in cryptocurrency,…
In many ways, I’ve been extremely lucky. I had subsidized housing, so my rent was never more than $1,000. I never had any student loans. I paid for college through a combination of financial aid and 529 funds my parents had saved, so the only debt I had was on my credit cards. At the…
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…