JPMorgan Chase (JPM) CEO Jamie Dimon said Monday that the financial world looks a lot like the heyday in the years ahead of the global financial crisis. “Unfortunately, we did see this in ’05, ’06, ’07, almost the same thing,” Dimon said at the firm’s annual investor day in New York on Monday. “The rising…
(Bloomberg) — Spot gold smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. It’s a milestone for bullion, which traded below $2,000 just two years ago, with returns that now outstrip those for equities this century. Gold has…
The resumption of a policy easing cycle following the US Federal Reserve’s quarter-point interest-rate reduction is likely to spur more investments into property globally, according to analysts. For mainland China and Hong Kong, however, the impact could be less significant owing to fundamental and geopolitical strains, they added. “Rarely do central banks do ‘one and…
Hong Kong’s property sector could face some “short-term challenges” but “the risks are manageable” because the city’s economy was diversified and sat on a solid foundation, the chairman of the Financial Services Development Council (FSDC) said on Wednesday. “As an international financial centre, the global uncertainties would mean some Hong Kong industries would face certain…
LONDON (AP) — U.K. Treasury chief Rachel Reeves said Tuesday that she’ll cut red tape for banks and finance firms so that “informed risk-taking” can help kickstart Britain’s sluggish economy. The government is trying to regain the economic initiative after rocky weeks of costly U-turns and figures showing the British economy contracted for two months…
More than a decade after Club Bboss was closed, a new nightspot has launched on the same site where the once-glamorous establishment operated for 28 years, with the goal of attracting tourists and young revellers eager for a glimpse of Hong Kong’s 1980s clubbing heyday. The new spot – known as Big Boss Generation (BBG)…