US President Donald Trump’s senseless trade war has sparked a sell-off that wiped trillions of dollars off global bourses and led to concern the global economy would tip into recession. Mainland China and Hong Kong stock markets have received welcome support from Beijing’s sovereign wealth fund to soothe rattled investors who saw their net worth…
Microsoft joint venture Wicresoft has put a halt to its China projects with the US technology giant, laying off around two thousand employees in the process, according to local media reports and some affected workers. Employees at the Shanghai office of Wicresoft – a Bellevue, Washington-based business consulting venture founded by Microsoft and its Shanghai…
More than 70 per cent of executives in Hong Kong expect an increase in financial crime in 2025, while only 18 per cent believe their organisation’s compliance programme is “very effective”, according a report from Kroll, a financial and risk advisory firm. The report, released Monday, surveyed more than 600 respondents worldwide between September and…
Hong Kong jewellers will be forced to reduce their exposure to the US, scale back operations, relocate production or even close down, as American President Donald Trump’s decision to impose tariffs on Chinese exports raises levies to as much as 60 per cent, industry leaders have said. The latest tariffs of 34 per cent on…
Tariffs imposed by the US will inevitably have a short-term impact on Hong Kong as an international trading hub, the city’s finance chief said, as he vowed to prepare for the worst and take action to support businesses. Financial Secretary Paul Chan Mo-po weighed in on the sweeping tariffs for the second straight day on…
A senior United States official has discussed the importance of an ongoing audit of CK Hutchison’s management of two ports at the Panama Canal with the country’s foreign minister, amid controversy surrounding the Hong Kong company’s sales of the facilities. Panamanian authorities announced their audit of Hong Kong tycoon Li Ka-shing’s CK Hutchison in January…
Hello readers! Volatility across financial markets jumped on Friday, with Wall Street’s top ‘fear gauge’ soaring to an eight-month high while other market indicators showed growing investor concerns about the ripple effect of President Donald Trump’s sweeping levies. Meanwhile Trump said that big business is not worried about tariffs because they know they are here…
BRUSSELS — The U.K. and French foreign ministers on Friday accused Russian President Vladimir Putin of dragging his feet in ceasefire talks aimed at halting Moscow’s all-out invasion of Ukraine and demanded a swift response from Russia after weeks of U.S. efforts to secure a truce. A Russian drone attack late Thursday on Kharkiv, Ukraine’s second-largest city,…
In the clearest sign that his most powerful adviser Elon Musk will be wrapping up his work inside the government, US President Donald Trump said on Thursday that Musk would likely leave his administration in a “few months”, an AP report said. Trump told reporters aboard Air Force One that “Elon is fantastic” but he…
Beijing’s foreign affairs representative in Hong Kong has met the top US envoy in the city to lodge “solemn representations” against the latest sanctions imposed by Washington on six mainland Chinese and local officials. Cui Jianchun, the commissioner of the Ministry of Foreign Affairs in Hong Kong, also told US Consul General Gregory May on…