Monday, June 30, 2014
Sex video is new twist in GlaxoSmithKline China bribery scandal
GlaxoSmithKline on Sunday confirmed the existence of an intimate video recording of its former China head, Mark Reilly, which The Sunday Times reported kicked off a bribery investigation that has damaged the drug maker’s business in China.
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Hong Kong's competition regulator faces challenges in supermarket sector
Ahead of next year's long-awaited competition law, food industry insiders describe a sector where prices are controlled and shenanigans commonplace as suppliers and supermarkets jostle for margin and market share in the fight over who fills your shopping basket.
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BIS sees danger signs in property prices and credit growth
Regulators should not dismiss "worrying" early signs of unsustainable property price and credit growth, which could leave borrowers vulnerable to interest rate rises or sharp downturns, the Bank for International Settlements said yesterday.
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Occupy Central is Hong Kong's 'mad as hell' moment
"Ever get the feeling you've been cheated?" Johnny Rotten of the Sex Pistols's remark at the disenchanted English youth in the 1970s could just have easily been describing the emotional undercurrent of disenfranchisement that feeds the Occupy Central movement.
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Sunday, June 29, 2014
Saturday, June 28, 2014
General Motors issues three more recalls covering 474,000 vehicles
General Motors has extended its record-breaking string of safety problems, announcing on Friday three more recalls, including one involving its top-selling vehicle.
The recalls, part of a top-to-bottom safety review, bring the company’s total for the year to 48, covering more than 20 million cars and trucks
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Yuan surges up currency rankings
The yuan has become the second-most popular currency in cross-border transactions between China and the rest of the world, driven by its greater use in global trade and investment as offshore yuan hubs spring up, according to Swift.
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World Bank warns Asia to be alert against risks from US rate rises
East Asian economies have recovered from the global financial crisis and are growing close to potential but governments cannot be complacent as capital flows could reverse quickly once United States interest rates rise, World Bank economists said in a global outlook report.
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Turnaround grandmaster
When Ford Motor announced on September 5, 2006, that veteran Boeing executive Alan Mulally was to serve as its new president and chief executive, there were questions on how an outsider could help cure what ailed the then-struggling carmaker.
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Friday, June 27, 2014
European family-run businesses ripe for Chinese outward investment, say advisers
European family businesses may increasingly look to Chinese investors to help sustain them as the availability of bank credit in the debt-ridden euro area remains tight and consumers are reluctant to return to free-spending ways.
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PBOC halts repos as money rate rises
The People's Bank of China has refrained from selling repurchase agreements for the first time in four months as banks' hoarding of cash to meet regulatory requirements drove the benchmark money-market rate to a seven-week high.
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London Stock Exchange buys asset manager for US$2.7b
The London Stock Exchange (LSE) unveiled the largest acquisition in its history yesterday, snapping up US group Frank Russell for US$2.7 billion to boost its position in the world's largest financial services market and sending its shares surging.
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Air China and Cathay Pacific inject 2b yuan into cargo venture
Air China Cargo, a joint venture between Air China and Cathay Pacific since 2010, will see its registered capital rise 62 per cent to 5.2 billion yuan (HK$6.5 billion) following a capital injection of two billion yuan announced yesterday.
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Thursday, June 26, 2014
Wednesday, June 25, 2014
Tuesday, June 24, 2014
After the next crisis, let's make sure US prosecutors get their man
The senior executives who played leading roles in the 2008 financial crisis can breathe a sigh of relief: if any committed crimes, the statute of limitations will run out for most of them this year. It is safe to say nobody will go to jail.
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Monday, June 23, 2014
European shipping cartel was doomed by China's self-interest in loss-making industry
Surprise – and plunging share prices. China threw the shipping industry for a loop by vetoing a planned alliance which would have benefitted large European container firms. But why did anyone think Beijing would go for this deal in the first place?
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Shanghai free-trade zone seen as way to boost appeal of panda bonds
After the pilot Shanghai Free Trade Zone project aimed at smoothing cross-border yuan flows, encouraging foreign firms to sell so-called "panda bonds" in China may be the next big-bang reform move, says Standard Chartered Bank.
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Apple's new programming tool opens door to more HK developers
Hong Kong mobile application companies predict more local developers will join the ranks of those creating apps for Apple devices, following the technology giant's surprise release of a new programming language earlier this month.
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Brokers and fund managers back special listing boards
Brokers and fund managers generally support a proposal by a top government advisory body to introduce new listing boards to cater to different companies and investors, bringing the city in line with markets such as New York and London.
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