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HSBC fined US$73 million by UK watchdog Prudential Regulation Authority for incorrectly excluding customers’ cash from protection scheme

30 Jan HSBC fined US$73 million by UK watchdog Prudential Regulation Authority for incorrectly excluding customers’ cash from protection scheme

Posted at 12:57h in Asia

HSBC Holdings was fined £57.4 million (US$73 million) by the UK for incorrectly excluding billions of pounds of its customers’ money from a depositor protection programme.Imposing the penalty, the Prudential Regulation Authority (PRA) said on Tuesday that the lender failed to properly comply with...

30 Jan Hong Kong property conglomerate Hang Lung unveils change of guard at its helm, no major strategic changes seen

Posted at 12:19h in Asia

“We had been observing Adriel for four years till 2014 and both the board and I felt that he had the potential to take over,” Chan said, adding he was very healthy at the moment.Hong Kong conglomerate Hang Lung has named Adriel Chan to succeed...

30 Jan Chinese smartphone maker OnePlus returns to Germany after sister firm Oppo strikes global 5G patent cross-licensing pact with Nokia

Posted at 12:00h in Asia

Shenzhen-based OnePlus on Monday brought back six smartphone models to the world’s fourth-largest economy, including the foldable OnePlus Open, according to the firm’s German website. OnePlus also started pre-orders for its latest OnePlus 12 and OnePlus 12R handsets.Before this week, OnePlus only...

30 Jan AI, cross-border e-commerce are bright spots for Chinese internet firms in 2024, UBS says

Posted at 11:00h in Asia

Chinese internet firms can look to chase growth through international markets and artificial intelligence (AI) in 2024, according to UBS.China’s e-commerce platforms, facing intense domestic competition with new rivals and short-video app operators, are ramping up overseas expansion, Kenneth Fong, head of China internet research...

30 Jan Euro zone GDP Q4 2023

Posted at 10:41h in Europe

Cargo trains stand on the railway tracks at a transshipment station in Frankfurt am Main, western Germany, as in background can be seen the city's skyline, on January 23, 2024.Kirill Kudryavtsev | Afp | Getty ImagesThe euro zone economy stabilized in the fourth quarter of...

30 Jan Hong Kong eyes moves to attract IPOs of mainland Chinese, Middle Eastern firms to spur stock market, Paul Chan says

Posted at 10:27h in Asia

Hong Kong will encourage more companies from mainland China, Middle East and Southeast Asia to list in the city as part of the government’s initiative to revive its sluggish financial market, according to Financial Secretary Paul Chan Mo-po.The government is actively engaging with regulatory authorities...

30 Jan World’s largest sovereign wealth fund posts record $213 billion profit

Posted at 10:15h in Europe

The Norges Bank, Norway's central bank, in Oslo, Norway, on Tuesday, Oct. 17, 2023.Bloomberg | Bloomberg | Getty ImagesNorway's giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology...

30 Jan Hong Kong ‘comedy king’ Stephen Chow to launch Douyin mini-drama series amid booming popularity of the format

Posted at 09:00h in Asia

Hong Kong filmmaker Stephen Chow Sing-chi, a popular actor in mainland China known as the king of comedy, has inked a deal with Douyin, the Chinese version of TikTok, to make an exclusive series, as A-list talent and Big Tech join hands to take...

30 Jan ‘Desperation borrowing’ due to low incomes fuels payday-style lenders: debt counsellor

Posted at 09:00h in Canada

Cost of Living9:05Why instalment loans are the riskiest bet in financeJolene Chateauneuf was just trying to avoid getting evicted.It was 2021, and she was short $1,500 for the rent on her apartment in Princeton, B.C., where she was living at the time. So she took...

30 Jan Opinion | China’s EV industry risks becoming a victim of its own success

Posted at 08:30h in Asia

Chinese leaders have for a while prioritised the pivot from ICE to EVs as this supports the government’s longer-term policy priority of transitioning the economy from one that has historically relied on real estate investments and lower-value manufacturing to one that’s driven by hi-tech...

Author: admin