Li Ka-Shing, business tycoon and Hong Kong’s richest man, has announced his retirement from conglomerate CK Hutchison Holdings Ltd., Caixin Global reports, handing over all corporate responsibilities to his eldest son Victor. Li, with a net worth of $35.4 billion, has dominated Hong Kong’s business landscape for over two decades in areas including retail, telecommunications […]
Category: Business Practice
Bills in the US Senate and House of Representatives to severely restrict China from acquiring American intellectual property are under amendment following criticism by high-tech companies, reports Reuters. The aim of the legislation is to extend the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS), preventing Chinese companies from obtaining advanced […]
The US Chamber of Commerce released a statement yesterday warning President Donald Trump of the negative impacts proposed tariffs on Chinese imports could have on the American economy, the Washington Post reports. President of the Chamber Thomas Donohue said in the statement that “simply put, tariffs are damaging taxes on American consumers,” referring to speculation […]
Swiss investment bank UBS Group is merging its equity and debt capital markets divisions in Asia-Pacific in a move to streamline its business in the region, the Financial Times reports. David Chin, the bank’s regional head of investment banking, said that the merger will enable UBS to “better serve clients and enable a more flexible […]
In the largest financial penalty issued by China’s securities regulator, railway operating firm Beibadao Group was fined RMB 5.67 billion ($870 million) yesterday for manipulating share prices, Caixin Global reports. China Securities Regulatory Commission said that Beibadao has established a team of traders to use borrowed money to pump-up the prices of newly-listed companies and […]