Hong Kong stocks fall after Wall Street tech rout

Any major corrections in U.S. stock market, where there is a relative big tech bubble following stellar gains, would also put pressure on China’s start-up firms and wider tech players, Luo said.

China bank stocks lose $194 billion in perpetual value trap

Chinese lenders have been a losing trade since 2018, when the government began tightening conditions in money markets as part of Xi Jinping’s deleveraging campaign. The pandemic has brought renewed pressure, with banks enlisted to funnel cheap loans to support economic growth. Bad debt hit a record this year and capital buffers are eroding so […]

Daily Briefing: Fog, stall … rally

Elsewhere, a European Union court will rule on an appeal by Apple and Ireland that Apple must pay 13 billion euros in back taxes. The case is key for low-tax EU jurisdictions and for companies such as Nike and Ikea, which have sweetheart tax deals with other EU states.

VIETNAM’S BUSINESS NEWS HEADLINES SEPTEMBER 8

Amid the Covid-19 pandemic, the global investment flow is likely to contract by 40% in 2020, but in Vietnam, newly registered capital has risen 6.6% and the number of new FDI projects inched up over 22% during the pandemic, Do Nhat Hoang, head of the ministry’s Foreign Investment Agency (FIA), said while addressing a dialogue […]

Greek shipowners call for measures to help sector tackle COVID-19 impact

In 2019 the top five ship owning nations and regions were Greece, Japan, China, Singapore and China’s Hong Kong and these five account for more than 50 percent of the world’s tonnage, the report noted, citing data from the Review of Maritime Transport 2019 published by the United Nations Conference on Trade and Development (UNCTAD).

Crystal Palace complete £7.9m signing of Jairo Riedewald from Ajax

Riedewald can operate at centre-half, left-back or in defensive midfield and was handed his Ajax debut by De Boer in 2013. The 20-year-old has been capped three times and joins Ruben Loftus-Cheek, who has moved across the capital on a season‑long loan from Chelsea, as a new arrival at Selhurst Park this summer.

TikTok, WeChat are just the beginning, nations fight over data to leave decades-long impact

TikTok, WeChat and Huawei Technologies Co. are just the beginning. What comes next has the potential to reshape the global economy for decades to come.President Donald Trump’s moves to prevent some of China’s biggest companies from accessing the private data of Americans — restrictions set to take effect this month — are part of a […]

Morning Digest: Serum Institute pulled up for not pausing vaccine trial, Jaishankar to meet China’s Foreign Minister, and more

United States formally announces troop reduction in IraqThe United States military on Wednesday announced that it would be reducing its presence in Iraq from 5,200 to 3,000 troops this month, formalizing a move that had been long expected. The United States has around 5,200 troops that were deployed in Iraq to fight the Islamic State […]

‘New Order’ (‘Nuevo Orden’): Film Review | Venice 2020

While Franco hurtles through the unfolding action, which takes place over weeks but packs real-time urgency, the breathless pacing nonetheless makes note of the unchastened arrogance of the old political order and the ruthlessness and corruption of its even worse replacement. Daniel and Alan have retreated to safety in a development on the outskirts of […]

Beyond the crash

There was a global response to the crisis of 2008, but it came not in the form of a new Bretton Woods. Instead, the institutions of the American state were put behind the world’s banks and their offshore business in London and Europe. As central bankers will hasten to tell you, the Fed’s emergency provision […]