Hong Kong’s long-dormant currency has come out of hibernation, as demand soars following a remarkable rally in Chinese stocks listed on the city’s bourse. As supply for the Hong Kong dollar tightened, its one-month funding costs have climbed for 10 straight days to the highest since late July. Transactions in the currency’s options also reached…
Warren Buffett’s continued disposals of Bank of America Corp. shares have now covered the billionaire’s investment cost, leaving him with a more than $34 billion stake that’s pure profit. In a round of transactions disclosed in a filingBloomberg Terminal Thursday, Buffett’s Berkshire Hathaway Inc. sold $896 million of the stock this week. That means total…
The paper fortune that former President Donald Trump amassed by taking a nascent media startup public is shriveling, and a race to the exits that begins as soon as Sept. 19 could shrink it even more. Trump Media & Technology Group Corp., which owns the X-lookalike social media platform Truth Social, has shed nearly $6…
Hong Kong’s reputation as a top-tier global financial hub has taken another hit. A recent US advisory is urging American companies operating there to consider the legal and regulatory risks they may face, including possible sanctions violations. Doing business in the city, the alert argues, is the same as operating on the mainland, because of…