Morgan Stanley is planning to eliminate several hundred jobs, the first such move under CEO Ted Pick.The cuts will affect less than 1 per cent of employees in the wealth-management business, which has about 40,000 workers and is the firm’s largest unit, according to a...
The number of cases involving scams reported in Hong Kong last year rose by 40 per cent year on year to 39,824 and involved more than HK$9 billion (US$1.2 billion), nearly doubling over the previous year, the Hong Kong police said this month.“With the robust...
High interest rates and the changing economic landscape after the Covid-19 pandemic are some of the factors that are pushing some companies to private lenders for bridge financing.A pedestrian walks past the HSBC headquarters in Hong Kong. Banks like HSBC and Bank of Singapore are...
China will soon implement revisions to its outdated Anti-Money-Laundering (AML) Law, in a move that legal experts see as a way to address the growing risks associated with virtual assets.A draft amendment to the existing AML law, which was enacted in 2006 and took effect...
A version of this article was first published by The Korea Times in a partnership with the South China Morning Post. South Korea’s major video gaming companies see bright prospects for their operations in mainland China on the back of recently granted licences, according...
The European Union’s move to implement the world’s first tax on carbon-intensive imports from 2026 could badly hit Chinese steel and aluminium makers, according to Goldman Sachs.The 27-nation bloc is tightening the screws on imported steel, aluminium, cement, hydrogen, fertiliser and electricity with higher greenhouse...
Macau casino operator MGM China reported a surge in revenue in the fourth quarter of last year as the Covid-19 restrictions were rolled back and visitor numbers surged in the world’s largest gambling hub.The company, controlled by New York-listed MGM Resorts International Holdings, reported a...
“In addition, the mainland [Chinese] economy is stable and improving. These factors will bring a positive atmosphere to investment sentiment and the asset market,” he said. 05:39Hong Kong stock market falls below 15,000 level, its lowest in 15 monthsHong Kong stock market falls below 15,000 level,...
Standard Chartered is considering restructuring its institutional banking arm, the unit that houses the firm’s investment bankers and traders, as part of the latest effort by chief executive officer Bill Winters to improve the lender’s returns.The lender has been weighing options including separating its...
Hong Kong stocks tumbled as trading resumed after the Lunar New Year holiday, along with weaker regional equity markets. Index provider MSCI removed dozens of Chinese stocks from its global benchmark indices in a review, after more than a trillion-dollar rout in the market...