Finance ministers from wealthy G7 nations on Saturday pledged to commit to a global minimum corporate tax of at least 15 percent, rallying behind a US-backed plan. “We… commit to a global minimum tax of at least 15 percent on a country by country basis,” said a statement at the conclusion of their London meeting. […]
Hong Kong stocks flipped between gains and losses before ending in the red, as their peers in the region were weighed by concerns that more signs of a US economic recovery could lead to the Federal Reserve scaling back its easing programme earlier. Weighed by tapering fears and Washington’s move to update a blacklist banning […]
US stocks climbed on Friday, led by technology shares, after a tepid US monthly jobs report relieved investor concerns the Federal Reserve might rein in monetary stimulus soon. US employers increased hiring in May and raised wages as they competed for workers. But the non-farm payrolls increase of 559,000 jobs was below the 650,000 forecast […]
Some of the world’s richest nations are within touching distance of a historic deal to close the net on large companies which do not pay their fair share of tax, France and Germany said on Friday after a day of talks in London. Finance ministers from the Group of Seven rich nations are meeting in […]
New applications for unemployment benefits dropped below 400,000 for the first time since the pandemic caused mass layoffs in the United States, government data showed Thursday. A seasonally adjusted 385,000 new claims for jobless aid were made in the week ended May 29, fewer than expected and 20,000 less than the week prior, the Labor […]
Local shares reversed course and dipped nearly 400 points towards the close on Thursday, while the rest of the region ended mostly higher as investors traded cautiously ahead of the release of new US jobs data. The Hang Seng Index tracked gains on Wall Street, starting 67 points higher. But it soon changed direction, with […]
Hong Kong stocks fell in the first few minutes of trade on Friday morning as China-US relations returned to the fore after President Joe Biden almost doubled the number of Chinese firms included on a Washington investment blacklist. The Hang Seng Index slipped 0.4 percent to 28,837. The Shanghai Composite Index sank 0.5 percent to […]
US President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their alleged links to Beijing’s “military-industrial complex,” in a sign of Washington’s continued pressure campaign against Beijing. Former president Donald Trump in November issued a list of 31 Chinese companies that were deemed to be supplying […]
US stocks ended lower on Thursday, with tech shares dragging on the S&P 500 and Nasdaq, as investors balanced concerns about inflation and the Federal Reserve reining in stimulus with relief about corporate tax hikes. The Dow posted a slight loss after five sessions of gains. Stocks rebounded somewhat after reports that US President Joe […]
SC Ventures, the innovation and ventures unit of Standard Chartered, announced a partnership with BC Technology Group, the parent company of Hong Kong’s licensed digital asset platform OSL. The joint venture (JV) was formed to establish a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe and aims to […]
Local shares headed south on Wednesday, while their peers in the region finished mixed, as investors booked profit and waited for the next trading catalyst – the release of US jobs data later in the week. The Hang Seng Index started slightly lower and fell further to stay in negative territory throughout the day. It […]
Embattled Chinese tech giant Huawei will launch a homegrown new mobile operating system on Wednesday as it fights for survival in the smartphone arena after the United States blocked it from using Android. Huawei will unveil its first mobile devices loaded with the new Harmony OS in an online event broadcast from its headquarters in […]
Hong Kong stocks opened higher on Thursday following a positive Wall Street lead, with investors now focused on the release of key US data reports that will provide the latest snapshot of the world’s top economy. The Hang Seng Index rose 0.2 percent to 29,365. The Shanghai Composite Index dipped 0.1 percent to 3,595, while […]
Wall Street’s main indexes posted slim gains on Wednesday ahead of key US economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called “meme stocks.” The S&P 500 energy sector, the best-performing group this year, extended its rise, gaining 1.7% as oil prices pushed higher. The materials […]
Consumers don’t just want shiny apps and digital banking, they want to feel that their bank is a partner who can help them reach financial empowerment. That is the finding of a new ethnographic study by Finastra, which has gone beyond the normal survey format to investigate the functional and emotional aspects of people’s banking […]
New provisional government data suggests that local retail sales rose by double digits for a third straight month, in the longest such streak since late 2018. However, the pace of increase slowed in April, with the value of sales gaining 12.1 percent over the same month in 2020; down from revised 20.2 percent year-on-year gain […]
Hong Kong stocks finished Tuesday on a healthy note, in line with a rally across most Asian markets, on renewed optimism over the global recovery with US jobs data later in the week in focus. The Hang Seng Index climbed 1.1 percent, or 316 points, to 29,468, on turnover of HK$157 billion. Tech plays continued […]
Hong Kong stocks started Wednesday slightly lower following a healthy two-day run-up, with Wall Street providing a tepid lead though energy firms were given a lift by another surge in oil prices. The Hang Seng Index slipped 0.18 percent to 29,415. The benchmark Shanghai Composite Index inched up less than two points to 3,626, while […]
The S&P 500 dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest US economic data for signs of a rebound and rising inflation. The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped […]
Hong Kong shares eked out small gains at close on Monday after Meituan helped erase losses by AIA and HSBC, as investors shifted their focus on the upcoming US jobs data this week. The Hang Seng Index opened about 100 points higher but soon slipped into the red and lost as many as 214 points […]