The delay in Ant Group's IPO has led some analysts to slash its valuation estimate in half, according to Bloomberg. ( read original story ...)
HSBC Contemplating Sale of U.S. Consumer Banking Operations
The U.S. arm of HSBC has performed very poorly in recent years, and the bank now may be thinking about selling its retail-banking and wealth-management operations. ( read original story ...)
Hong Kong’s Bankless Leader Reveals the Long Arm of the U.S. Treasury
Secondary sanctions, applied to institutions that deal with individuals targeted by the U.S. government, are powerful weapons that international lenders fear. ( read original story ...)
Ant IPO Has Slim Chance of Getting Done Next Year
The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to ... ( read original story ...)
Hong Kong stocks drop, but post best month in nearly 2 years
Hong Kong stocks fell more than 2% on Monday on worries over Sino-U.S. tensions, although hopes for a vaccine-led global economic recovery next year, and strong China data helped the market post its ... ( read original story ...)
China’s IPO Problem: Why Can’t Shanghai Run A Public Offering?
PetroChina launched an IPO), and was valued at $1Tn. In the next 20 weeks, the share price fell 52%. The stock never recovered. Today, PetroChina’s shares are down almost 90% from the IPO price. ( read original story ...)
Left bankless due to sanctions, Hong Kong’s Carrie Lam says she uses ‘piles of cash’
The chief executive has described being subject to U.S. sanctions over undermining Hong Kong's autonomy as "very honorable" and "an honor." ... ( read original story ...)
Ant Is Said to Face Slim Chance of Getting IPO Done in 2021
The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to ... ( read original story ...)
Hang Seng Index hits nine-month high as Chinese industrial profit report reassures investors mainland recovery is under way
Hong Kong and mainland China stocks both gained, with the city's benchmark closing at a nine-month high, as an acceleration in profit growth for industrial companies added to evidence that a recovery ... ( read original story ...)
HSBC Contemplates Complete Exit From U.S. Retail Banking
HSBC Holdings Plc is considering offloading its U.S. retail network. The bank’s management is looking at a complete withdrawal from its retail operations in the country, although a full exit from ... ( read original story ...)
HSBC shares surge by half in two months as hopes of Covid-19 vaccine rekindle investors’ appetite for old-economy stocks
Shares of HSBC Holdings have gained by almost half in the past two months as positive news about several Covid-19 vaccines has rekindled an appetite for stocks likely to pick up once the pandemic is ... ( read original story ...)
Hong Kong’s leader has ‘piles of cash’ at home after US sanctions
Hong Kong’s leader has said she is being forced to receive her salary in cash because of US sanctions, saying she has no access to banking services despite the prevalence of mainland Chinese ... ( read original story ...)
Hong Kong’s top leader piles up cash at home after U.S. sanctions
Hong Kong leader Carrie Lam says she has to pile up cash at home as she has been unable to open a bank account in the global financial centre since Washington sanctioned her shortly after Beijing ... ( read original story ...)
Left Bankless by Sanctions, Hong Kong Leader Has ‘Piles of Cash’
Hong Kong’s Chief Executive Carrie Lam says that she has “piles of cash” at home because she is denied basic banking services due to U.S. sanctions. In a television interview, Lam said the Hong Kong ... ( read original story ...)