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☆ This global EV stock could double in price in 3 to 5 years, analyst says
▼ + stars: | 2024-02-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

But Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors, believes that one stock will come out ahead. Hsu believes that as the EV market consolidates, BYD is "for sure going to emerge a winner." One potential curveball for the Chinese EV market is a U.S. decision to raise tariffs, which is reportedly under discussion . But Hsu believes that the markets have already priced in the possibility that those tariff hikes will be imposed. For global investors who want to buy BYD, its shares are listed on the Hong Kong exchange.

Persons: Tesla, Jason Hsu, CNBC's, Hsu, BYD, CNBC's Tanvir Gill, Evelyn Cheng Organizations: Rayliant Global Advisors, Toyota, Hong, BYD, China Clean Technology, China Growth Locations: That's Hong Kong, BYD, China, U.S, Europe, Hong Kong

☆ Lionel Messi expresses regret over not being able to play in Hong Kong
▼ + stars: | 2024-02-06 | by ( Teele Rebane | ) edition.cnn.com time to read: +1 min

CNN —Argentine soccer star Lionel Messi expressed regret Tuesday over not being able to play in a friendly match in Hong Kong. Messi, who plays for Major League Soccer team Inter Miami, did not step onto the pitch to play against a Hong Kong XI on Sunday, causing outrage among fans. A sellout crowd of 40,000 attended the match in Hong Kong, but the occasion ended acrimoniously when fans booed, jeered and called for ticket refunds as Messi remained on the bench. Even the Hong Kong government said it was “disappointed” that the eight-time Ballon d’Or winner wasn’t brought on during the match. Messi added that he could understand why people were upset that he had not participated in the match, but expressed hope that Miami could play in Hong Kong again at some point.

Persons: Lionel Messi, Messi, ” Messi, clamoring, jeered, ”, Ballon, wasn’t, Gerardo “ Tata ” Martino, Luis Suárez Organizations: CNN, Major League Soccer, Inter Miami, Hong, Hong Kong XI, Inter, Miami, Wednesday, Vissel Locations: Argentine, Hong Kong, Tokyo, Kobe, Vissel Kobe

TOKYO (AP) — Look for Lionel Messi to play in Wednesday's friendly in Tokyo with Inter Miami facing Japanese club Vissel Kobe. He sat alone on a stool on stage, wore a pink warm-up jacket, and showed a bit of humility. But I feel much better and I really want to be able to do it.”Messi tried to explain to Hong Kong fans, saying it was impossible for him to play with a groin injury. Through five games from El Salvador, to Dallas, to Saudi Arabia and Hong Kong, Inter Miami has won only once and has been outscored 12-7. “I hope we can return and we can play another game and I can be present,” he said.

Persons: Lionel Messi, refeunds, Luis Suarez —, —, Messi, Andres Iniesta, ” Messi, ”, Suarez, Mark Conrad, ” Conrad Organizations: TOKYO, Inter Miami, Vissel Kobe, Hong Kong, Kobe, ” Inter, Tokyo Olympics, Fordham University's Gabelli School of Business, Associated Press Locations: Tokyo, Barcelona, Japanese, Hong Kong, El Salvador, Dallas, Saudi Arabia

☆ A company lost $25 million after an employee was tricked by deepfakes of his coworkers on a video call: police
▼ + stars: | 2024-02-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Scammers made off with about $25 million after they used deepfake technology to trick an employee at the Hong Kong branch of a multinational company, local media reported on Sunday, citing the city's police. The employee then had a video call with the company's CFO and other company employees — all of which turned out to be deepfakes. Based on instructions they got during that call, the employee transferred HK$200 million, or $25.6 million, to various Hong Kong bank accounts across 15 transfers, according to the SCMP. AdvertisementThe Hong Kong police did not name the company or employees involved. The employee who was scammed did not interact with the deepfakes during the video conference, according to the media outlet.

Persons: Scammers, scammers, scammed, Taylor Swift, Joseph Morelle Organizations: South China Morning Post, HK, Hong Kong, Democratic Locations: Hong Kong, South China

☆ Hong Kong government may cut support funding after Messi did not play in friendly match
▼ + stars: | 2024-02-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

HONG KONG, CHINA - FEBRUARY 04: Fans react after not seeing Inter Miami's Argentine forward Lionel Messi play during the friendly match between Hong Kong Team and Inter Miami CF at Hong Kong Stadium on February 4, 2024 in Hong Kong, China. The Hong Kong government said it may cut funding for a friendly match after soccer legend Lionel Messi did not take the pitch on Sunday. The Miami Herald reported that Messi had an MRI last week ahead of a friendly match in Saudi Arabia. The friendly match had been awarded "M" Mark status which is granted to major sporting events held in the city. Hong Kong said it had awarded the event a matching grant of 15 million Hong Kong dollars ($1.9 million) and a venue grant of HK$1 million.

Persons: Lionel Messi, Messi Organizations: Inter Miami's Argentine, Hong Kong Team, Inter Miami CF, Hong Kong, Hong, Major League Soccer, Inter Miami, Argentine, Miami Herald, Florida, China, HK Locations: HONG KONG, CHINA, Hong Kong, China, ., Saudi Arabia

☆ Hong Kong officials demand answers for Lionel Messi no-show
▼ + stars: | 2024-02-05 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The Hong Kong government’s repeated requests for Lionel Messi to play in a sell-out soccer match went unanswered Sunday, a city official said, as cheers turned to jeers for the Argentine soccer legend. Meanwhile, the Hong Kong government, which provided more than $2 million in grants to the match organizer, also said it was “extremely disappointed” the star did not play. Fans make their feelings clear after Lionel Messi's Hong Kong no-show. ‘We do feel a bit scammed’“Messi mania” had captured Hong Kong with Inter Miami’s arrival on Friday as fans swarmed the Major League Soccer team’s hotel. Meanwhile, the stadium reached full capacity during the Inter Miami’s open training session the evening before the match.

Persons: Hong Kong government’s, Lionel Messi, jeers, –, Messi, Ballon, Kevin Yeung, XFEST, Lionel Messi's, Justin Chin, Yeung, “, ” Yeung, Gerardo “ Tata ” Martino, ‘, ’ “ Messi, ”, Ada Kam, Luis Suárez Organizations: Hong Kong CNN, Hong Kong, Inter Miami’s, Hong, Hong Kong XI, Culture, Bloomberg, Getty, Inter, Major League Soccer team’s, CNN, Nigeria Locations: Hong Kong, Hong, Argentine, Lionel Messi's Hong Kong, Miami, Inter Miami’s, Tokyo, China, Argentina, Hangzhou, Ivory Coast, Beijing

☆ What the collapse of a company owing $300 billion means for the world
▼ + stars: | 2024-02-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

AdvertisementImportantly, since the court order was made in Hong Kong, it's also unclear if mainland authorities will recognize and comply with the order. However, the company owes about $300 billion — a big shortfall, and there's a clear order of priority when it comes to repayments. How will the Evergrande collapse impact sentiment in China's economy and markets? Notably, the stock market sell-off came before Evergrande's liquidation order. Hong Kong's Hang Seng index ended up slightly higher the day the court order was made.

Persons: —, Kyle Rodda, Rodda, Alvarez, Marsal, Evergrande, it's, Baker McKenzie, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Hong Kong Stock Exchange, Reuters, Deloitte, CSI, Orient Capital Research Locations: Hong Kong, China, Beijing, Asia

☆ Bao Fan: Missing Chinese banker resigns from China Renaissance for ‘health reasons’
▼ + stars: | 2024-02-02 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Bao Fan, a star Chinese tech banker who disappeared a year ago amid Beijing’s anti-corruption crackdown, has formally resigned from the firm he founded, the company said. CNN has contacted China Renaissance for comment. China Renaissance announced a management reshuffle to replace its chairman and CEO, along with other top positions. He founded China Renaissance in 2005 in Beijing and made it one of the top dealmakers for Chinese tech firms. Shares in China Renaissance were suspended from trading last April because of issues related to Bao’s status.

Persons: Hong Kong CNN — Bao Fan, Bao, ”, Xie Yi Jing, Deloitte Touche Tohmatsu, “ Organizations: Hong Kong CNN, China Renaissance, Company, CNN, Economic Observer, Communist Party, Deloitte Locations: China, Hong Kong, Bao, Beijing, Dianping

☆ Missing Chinese Banker Resigns After Investigation
▼ + stars: | 2024-02-02 | by ( Claire Fu | More About Claire Fu | ) www.nytimes.com time to read: +1 min

After disappearing nearly a year ago as part of an investigation by Chinese authorities, prominent investment banker Bao Fan has resigned as chairman and chief executive of China Renaissance Holdings, the company said on Friday. Mr. Bao, a deal-making banker for Chinese internet giants Alibaba and Tencent, went missing last February. China Renaissance initially said it had lost contact with Mr. Bao before later stating that he was cooperating with an investigation being carried out by the authorities in China. It fueled concerns about the lengths that Chinese authorities would go to bring power players in the domestic economy to heel, while extending its control over its financial regulatory system. In a filing on the Hong Kong Stock Exchange, China Renaissance said Mr. Bao was stepping down because of “health reasons and to spend more time on his family affairs.” The company did not explain the nature of the investigation Mr. Bao was under.

Persons: Bao Fan, Bao Organizations: China Renaissance Holdings, China Renaissance, Hong Kong Stock Exchange Locations: Tencent, China

☆ Want to cash in on the weight-loss drug boom? Morgan Stanley names 4 global stocks
▼ + stars: | 2024-02-01 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Under-the-radar stock picks Morgan Stanley reckons the way to play the obesity theme in Asia is through names involved in GLP-1 drug development that "could find upside in burgeoning overseas markets." Calling it "top beneficiary as global demand for GLP-1 drugs significantly outpaces capacity," Morgan Stanley has an overweight rating on the stock. Morgan Stanley has an investment horizon of just over six months for WuXi AppTec and Innovent and over 12 months for Chugai and EBOS. Morgan Stanley's analysts estimate that worldwide sales of Orforglipron could hit $7 billion in 2023. Elsewhere, it sees opportunities for EBOS following the Australian government's approval for it to distribute obesity drugs.

Persons: Eli Lilly, Morgan, Sean Wu, Morgan Stanley's, Health Organization's, Morgan Stanley, Chugai, Goldman, EBOS, CNBC's Michael Bloom Organizations: Novo Nordisk, Health, WHO, BMI, WuXi AppTec, Australian, Hong Kong Stock Exchange, China Health Care, Goldman Sachs, Health Care Equity, Zealand ETF Locations: U.S, Asia, Asia Pacific, Australia, GLP, WuXi, China, Japan, New Zealand, Zealand

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book COO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities. Still, questions remain on whether China will recognize the Hong Kong court order for Evergrande's liquidation — since most of the company's assets are in the mainland.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu, we've, Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong, Commerzbank

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book CEO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. In other words, no massive credit event," Qazi told CNBC. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong

☆ Amazon Prime’s ‘Expats’ was set and filmed in Hong Kong. But it’s not being shown there
▼ + stars: | 2024-01-30 | by ( Issy Ronald | ) edition.cnn.com time to read: +4 min

CNN —Amazon Prime’s new drama series “Expats,” starring Nicole Kidman, is currently unavailable to watch in Hong Kong despite being set and partly filmed in the city. That year, Hong Kong also granted Oscar-winner Kidman an exemption from its tough Covid-19 quarantine rules to film in the city. Four members of her crew were also granted relief from the restrictions, Hong Kong officials said at the time. CNN has also reached out to the Hong Kong Commerce and Economic Development Bureau for comment. “It was very important to me to be able to show this particular moment in this year in Hong Kong very accurately,” she said.

Persons: ”, Nicole Kidman, Margaret, Hong Kong, Oscar, Kidman, Hong, “, ” Yaqiu Wang, ” Bonde Sham, Ji, Yoo, Wang, ’, Lulu Wang, “ It’s Organizations: CNN, Amazon, Umbrella Movement, Hong, The Hong, Hollywood, Freedom House, Hong Kong Commerce, Economic, Reuters, Kong’s, Film, Association, BBC Radio Locations: Hong Kong, Beijing, The, The Hong Kong, Hong, China, Taiwan, Los Angeles

☆ Evergrande: 'Real unknown' is how mainland China courts will treat winding-up petition, analyst says
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvergrande: 'Real unknown' is how mainland China courts will treat winding-up petition, analyst saysCharlene Chu, China macrofinancial senior analyst at Autonomous Research, discusses the Evergrande liquidation order and says "the real question about the winding up petition is to what extent are the mainland authorities going to recognize what was decided in the Hong Kong courts."

Persons: Charlene Chu Organizations: China macrofinancial, Autonomous Research Locations: China, Hong Kong

☆ Amazon Filmed ‘Expats’ in Hong Kong, but People There Can’t Watch It
▼ + stars: | 2024-01-30 | by ( Tiffany May | Yan Zhuang | ) www.nytimes.com time to read: +1 min

That series from Amazon Prime, “Expats,” which stars Ms. Kidman, aired its first two episodes last week in what it described as a worldwide release. For Hong Kong viewers, they appeared as “currently unavailable.”The reasons are unknown. Amazon Studios declined to comment. A spokesman for the Hong Kong government said it had facilitated the filming of some street scenes in “Expats” but would not comment on the “operational arrangement of individual businesses.”The show is being released after several years of transformation in the city, a Chinese territory. Hong Kong was largely closed off to the world during three years of pandemic restrictions, and speech and dissent have become severely restricted after a mass protest movement was squashed in 2019.

Persons: Nicole Kidman, “, Kidman, Hong Kong Organizations: Amazon Prime, Hong Kong, Amazon Studios, Hong Locations: Hong Kong, Hong

☆ Beijing is unlikely to rescue Evergrande's offshore creditors because it could make things worse at home
▼ + stars: | 2024-01-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewOn Monday, Chinese real-estate giant Evergrande was ordered by a Hong Kong court to liquidate after two years in a debt crisis. The court has appointed Alvarez and Marsal as liquidator to manage the company, Evergrande said in a filing to the Hong Kong Stock Exchange. So, protecting Evergrande's offshore investors probably isn't in Beijing's favor, because it could spur further speculation in the market, Møller added. Offshore creditors are owed $25 billion, the Hong Kong court document showed, per CNN. This is because liquidators appointed by Hong Kong's courts are unlikely to have much power over Evergrande's mainland assets, Hong added.

Persons: —, Evergrande, Alvarez, Marsal, Emil Møller, Møller, there's, Xi Jinping's, Fern Wang, Wang, Hao Hong, liquidators, Hong, Siu Shawn Organizations: Service, Business, Hong Kong Stock Exchange, Steno Research, Lombard, KT Capital Group, CNN, Grow Investment, China Evergrande Group, Reuters, Century Business Herald, Hengda Real Locations: Hong Kong, Beijing, China, Denmark, Beijing's, homebuyers, Swiss, People's Republic of China, Hengda

The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s financial markets. Markets in both Hong Kong and Shanghai fell Tuesday while share prices of property developers sank. State-owned Chinese banks and other domestic entities own most of the debt owed by Chinese property developers. David Goodman, director of the University of Sydney’s China Studies Center, said he thinks China’s property debt burdens are unlikely to precipitate a major financial crisis. “The fact of the matter is that the Chinese financial system is not as open or as marketized (as in the United States),” he said.

Persons: Brock Silvers, haven't, Silver, ”, Seng, David Goodman, —, Soo Organizations: Evergrande, Hong Kong High, Kaiyuan, ”, Sunac China Holdings, F Properties, Shanghai, Swiss Re Institute, Swiss, University of Sydney’s China Studies Center Locations: BANGKOK, Hong Kong, China, Beijing, Shanghai, Guangzhou, United States, U.S, Singapore

HONG KONG (AP) — Nicole Kidman's latest project is set in Hong Kong, but people who live there are blocked from seeing it, prompting speculation about censorship in a city where civil liberties are shrinking fast. The first two episodes of “Expats,” a six-episode drama about expat women, were released on Amazon Prime on Jan. 26. But when viewers in Hong Kong try to watch it, they instead get a message saying that “this video is currently unavailable to watch in your location.”The city has hardened its controls over political speech after 2019 anti-government protests rocked the city. In 2020, China passed a National Security Law that criminalized political activities, such as protesting for independence. On Tuesday, the Hong Kong government announced plans to enact a local version of the 2020 National Security Law.

Persons: — Nicole Kidman's, “, ” Organizations: Amazon Prime, Security Law, Walt Disney Co, Disney, ”, Amazon, Hong Locations: HONG KONG, Hong Kong, China

☆ China Evergrande Must Be Liquidated, a Judge Said. What Happens Next?
▼ + stars: | 2024-01-29 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

After nearly two years of false starts, last-ditch proposals and pleas for more time, China Evergrande, a massive property company, has been ordered to dismantle itself. The worries in real estate, where most households put their savings, helped tip the economy into a downturn. The Evergrande bankruptcy will play out in Hong Kong and China. A Hong Kong judge, Linda Chan, on Monday ordered Evergrande’s liquidation and appointed Alvarez & Marsal, a firm that specializes in bankruptcy cases, to manage the unwinding. The firm’s role will be to help creditors — particularly overseas investors who made loans to Evergrande — get some of their money back.

Persons: Lehman, Linda Chan, Alvarez, —, Marsal Organizations: Lehman Brothers, U.S ., Hong, Marsal, Court, Alvarez Locations: China, U.S, Hong Kong, Beijing

HONG KONG (AP) — Hong Kong begun public consultation Tuesday on enacting its own national security law, beginning a process to implement legislation that for years was widely opposed by residents who feared the erosion of their civil liberties. Beijing imposed a national security law on Hong Kong in 2020 and a crackdown on dissent followed. Both the Hong Kong and Beijing governments have hailed the law for restoring stability after the massive pro-democracy protests in 2019. But the Basic Law, Hong Kong’s mini-constitution, requires the city to enact its own national security law. Officials have said the “painful experiences” of the 2019 protests demonstrated that national security risks are real.

Persons: Hong Kong’s, “, John Lee, “ It’s, ___ Soo Organizations: Apple Locations: HONG KONG, Hong Kong, Beijing, U.S, Singapore, British

☆ Chinese stocks are starting to turn around. How to play it
▼ + stars: | 2024-01-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese stocks ended the week with four straight days of gains — a rare upswing after a dismal start to the year. "Investing in China, you have to have an active strategy," he said, emphasizing the need to focus on industries that receive policy support. All three are listed on mainland Chinese stock exchanges. In the past six months, foreign investors have pulled around $30 billion from mainland Chinese A shares, the report said. Citi analysts also include adidas and Kone in their basket of European stocks with China exposure.

Persons: David Chao, Chao, Pan Gongsheng, Edward Chan, Schelling Xie, Xie, CRRC, —, Peter Alexander, Alexander, — CNBC's Michael Bloom Organizations: Asia Pacific, People's Bank of China, PBOC, . Federal Reserve, Financial Regulatory Administration, CNBC, HSBC, Hong, Citi, adidas, Kone Locations: Asia, Japan, Invesco, China, Beijing, Hong Kong, Shanghai, U.S

☆ Why Chinese stocks have lost $6 trillion in 3 years: everything you need to know
▼ + stars: | 2024-01-23 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Chinese shares haven’t just had a bad start to 2024. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. But on the same day, major state-owned banks moved to support the Chinese yuan, in order to prevent the currency from falling too fast as Chinese shares plunged, according to a Reuters report, citing unnamed sources. Topics related to the “market plunge” and “China’s stock market rescue” were trending on Weibo on Tuesday. “I’m sad about today’s stock market performance,” Hu Xijin, former editor-in-chief for state newspaper Global Times, posted on Weibo on Monday.

Persons: It’s, “, Goldman Sachs, Wall, Li Qiang, ”, Nomura, bedeviling, Beijing’s, Li, Ken Cheung, ” Hu Xijin, “ Hu Organizations: Hong Kong CNN, Reuters, Bloomberg, Monday, People’s Bank of China, ”, Big Tech, Xinhua, Hong, Mizuho Bank, Global Times Locations: China, Hong Kong, Shanghai, Shenzhen, Japan, Asia, Beijing, US, Weibo

Tokyo CNN —A Korean Air plane clipped wings with a Cathay Pacific jet at an airport in Japan’s northern island of Hokkaido on Tuesday amid heavy snow – an incident that comes just weeks after a fatal aircraft collision in Tokyo. No injuries were reported in the collision at Hokkaido’s New Chitose Airport (CTS), which occurred around 5:30 p.m., according to the airport operator. The Korean Air jet had 289 passengers and crew on board, the Chitose Fire Department told CNN, while the Cathay Pacific plane was empty. Airport safety issues have been under scrutiny in Japan following a fatal collision at Tokyo’s busy Haneda airport on January 2 when a Japan Airlines jet burst into flames after hitting a coast guard plane. Kyodo News/APThere are no concerns relating to oil leakage following the accident, according to the fire department, which said the details are under investigation.

Organizations: Tokyo CNN, Cathay Pacific, Korean Air, Chitose Fire Department, CNN, Cathay, Japan Airlines, Korean, Kyodo Locations: Japan’s, Hokkaido, Tokyo, Chitose, Japan, Haneda, Cathay Pacific, Sapporo, Hong Kong

☆ Baidu’s live streaming plans suffer as it calls off $3.6 billion Joyy deal
▼ + stars: | 2024-01-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Baidu’s bid to expand its live streaming business in China and diversify its revenue has suffered a blow with the collapse of a planned $3.6 billion acquisition. The Chinese tech giant announced Monday that one of its affiliate companies had terminated a 2020 agreement with Nasdaq-listed Joyy (YY), the owner of popular live streaming platform YY Live. Baidu CEO Robin Li said at the time that the acquisition would “catapult Baidu into a leading platform for live streaming and diversify our revenue source.”Like other live streaming platforms in China, YY Live makes money from users who buy virtual gifts for performers. Live streaming revenues fell by nearly 9% to $495.8 million. But as China’s economic outlook deteriorates, Beijing has shown signs of easing the crackdown, frequently talking up tech companies’ role in the economy.

Persons: London CNN —, ” Joyy, “, Robin Li, Joyy Organizations: London CNN, Nasdaq, Baidu, Hong Kong Stock Exchange, Big Tech Locations: China, , Beijing

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