DIRS.INFO The most relevant business & tech news

☆ Estee Lauder to cut jobs on delayed China recovery; shares surge 16%
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +2 min

Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong. Shares were up 16% in early trading after the company also handily beat second-quarter profit estimates. Estee also cut its annual profit forecast for a second time as its U.S. business slowed down, with a post-pandemic spending spree sputtering. Organic net sales in the Americas fell 1% in the quarter, compared to the 6% growth in the prior quarter. Estee now expects full-year 2024 adjusted profit per share between $2.08 and $2.23, compared with $2.17 to $2.42 earlier.

Persons: Estée Lauder, Estee Lauder, Richemont, Bernstein, Callum Elliott, Estee, Javier Gonzalez Lastra Organizations: MAC, Cartier, Burberry, Tema Locations: American, Hong Kong, China, Asia, Pacific, Americas

☆ Lionel Messi no-show ignites booing and calls for refunds at Inter Miami match in Hong Kong
▼ + stars: | 2024-02-04 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Thousands of soccer fans in Hong Kong were left disappointed when Argentine superstar Lionel Messi failed to take to the field in a friendly match for Inter Miami on Sunday. What started with overwhelming cheers and rapture ended in boos and calls for refunds in the sold-out, 40,000-seat Hong Kong Stadium. Inter Miami — out to prove a point having gone winless during a worldwide pre-season tour — comfortably defeated a Hong Kong XI 4-1 in an event branded as Tatler XFEST Hong Kong. According to Reuters, tickets went on sale in December and cost between 880 and 4,880 Hong Kong dollars (about $113 and $624). “This whole Messi in Hong Kong thing has been building up for quite some time.

Persons: Lionel Messi, —, Messi, Ballon, Hong, “ Messi, Luis Suárez, Jordi Alba, Sergio Busquets, Louise Delmotte, David Beckham, Messi ”, ”, XFEST, Suárez, “, Gerardo “ Tata ” Martino, Leo, Luis, ” Martino, apologetically, Hong Kong, “ Leo, Suarez, ” Suárez, Martino, Yapp Hung, Yapp, Messi superfan Christer Leung, ” Leung, Lionel, Lam Yik, Reuters “ Messi Organizations: Hong Kong CNN, Argentine, Inter Miami, Hong Kong Stadium, Inter Miami —, Hong, Reuters, CNN, Miami, Al, MLS, Major League Soccer, Hong Kong XI, fai, Messi, Argentina, ’, Inter, USA, Sports, Ardent, Argentina national, Australia, Nigeria, Vissel Kobe Locations: Hong Kong, Saudi Arabia, America, China, Beijing, Argentina, Ivory Coast, Hangzhou, Japan

☆ While Chinese stocks search for a bottom, analysts say these shares are poised to bounce
▼ + stars: | 2024-02-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Chinese stocks have given up much of their recent gains as investors debate whether the bottom is really in. They screened for names with more than $1 billion in capitalization and expectations for earnings growth in the next two years. Such signals come at a time when Chinese stocks have sold off sharply. Chinese stocks – whether measured by those that trade in the mainland, Hong Kong or U.S. – have fallen for more than two years. "In the past Chinese companies grew rapidly, many companies' results grew exponentially," he said in Mandarin, translated by CNBC.

Persons: Evercore, Rachel Wang, Clocktower, Ye Yuhua, — CNBC's Michael Bloom Organizations: People's Bank of China, Seng Index, Shanghai, Morningstar, CNBC, Baidu, Li Auto Locations: U.S, Beijing, Hong Kong, China, Shanghai, Guangzhou

HONG KONG (AP) — Lionel Messi stayed on the bench for the full 90 minutes on Sunday as Inter Miami defeated a Hong Kong XI 4-1 in the latest stop on the MLS team’s preseason Asian tour. Messi played the final seven minutes of the losing effort but a tight hamstring kept the eight-time Ballon D’or winner on the sidelines in Hong Kong along with Uruguayan forward and former Barcelona teammate Luis Suarez. The fans who filled the same arena a day earlier at least saw the 2022 World Cup winner in an open training session along with Miami co-owner David Beckham. Robert Taylor opened the scoring for Miami five minutes before the break with a curling shot from the corner of the area. Miami finishes its Asian tour in Japan on Wednesday as it takes on Vissel Kobe.

Persons: — Lionel Messi, Saudi Arabia’s, Messi, Ballon, Luis Suarez, David Beckham, Robert Taylor, Henri Anier, Jorn Andersen, Lawson Sunderland, Miami’s, Leonardo Campana, Ryan Sailor, ___ Organizations: Inter Miami, Hong, MLS, Hong Kong, Miami, Saudi, Uruguayan Locations: HONG KONG, Hong Kong, Nassr, Riyadh, Barcelona, Japan, Kobe

☆ The world’s best beaches, according to Lonely Planet
▼ + stars: | 2024-02-03 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +6 min

The dim sum capital of the worldLegacy House: Legacy House's fantastic dim sum set includes steamed spotted garoupa dumplings with salted lemon. Courtesy Legacy House Forum: This three-Michelin-star restaurant, which serves classic Cantonese dim sum dishes, is famed for its impeccable attention to detail. Tai Wai Dining Room Veggie Kingdom: Veggie Kingdom serves high-quality meat-free versions of classic dim sum dishes. Maggie Wong/CNN Spring Moon: In addition to serving delicious, classic dim sum dishes, Spring Moon's cinematic interior is an attraction in its own right. Courtesy Peninsula Hong Kong Hong Kong’s best dim sum Prev NextThis is our essential guide to Hong Kong’s best dim sum: Where to find it and how to eat it, from classic no-frills joints to Michelin-starred adventures.

Persons: Cabo San Juan del Guía, “, ”, Heen, King Heen, Nicholas Wong, Maggie Wong, Emperor, Fook Lam, Hong Kong Hong, Hong, they’ve, Amelia Earhart’s Organizations: CNN, d’Argent, JetBlue, Japan, Port, Royal, Carnival Corporation, MSC Cruise, Cunard Cruise, CDC, Hong Kong, Hong, Golden Valley, Son Locations: Rio, Sarakiniko, Greece, Baltic, Danish, Bornholm, Cabo San Juan, Seychelles, Tokyo, Kyoto, Osaka, Hiroshima prefecture, Tomonoura, Port of Miami, Hong, Hong Kong, Veggie, Golden, Spain

☆ 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

☆ Illicit Iranian programs targeted by sanctions and criminal charges, US says
▼ + stars: | 2024-02-02 | by ( Michael Conte | Sean Lyngaas | ) edition.cnn.com time to read: +5 min

Washington CNN —The US announced a number of measures including sanctions and criminal charges targeting a range of malicious Iranian initiatives, including their cyberwarfare and drone programs, as well as Iran’s alleged illegal oil trafficking to fund foreign terrorist organizations. Earlier in the day, the Treasury Department announced sanctions against several Iran- and Hong Kong-based companies for allegedly supporting Iran’s drone program and missile production. The three alleged front companies in Hong Kong and an Iranian subsidiary allegedly obtained components, such as engines and carburetors, for Iran’s drone program. Treasury also announced sanctions targeting the head of Iran’s Islamic Revolutionary Guard Corps Cyber–Electronic Command and five other senior officials for alleged cyberattacks against critical infrastructure in the US and other countries. That’s a reference to a series of hacks that defaced computers at multiple water utilities in the US in November.

Persons: Biden, ”, General Merrick Garland, Christopher Wray, Brian Nelson, Matthew Miller, That’s, ” John Hultquist, Mandiant, CNN’s Hannah Rabinowitz Organizations: Washington CNN, US, Justice Department, Islamic Revolutionary Guard Corps, Department, DOJ, FBI, Treasury Department, Treasury, Terrorism, Financial, Command, Google, CNN, Boston Children’s Hospital Locations: Iran, Jordan, Omani, ”, Washington ,, United States, Hong Kong, Iranian, Israel, Boston, Tehran

LONDON (AP) — A major work by surrealist painter René Magritte that hasn’t been shown in public for a quarter century could fetch 50 million pounds ($64 million) at auction next month. Christie’s auction house announced Saturday that it will offer “L’ami intime” (The Intimate Friend) at a March 7 sale in London marking a century of the surrealist movement in art. The painting includes several of the Belgian artist’s signature motifs, including a bowler-hatted man and fluffy white clouds on a blue sky. Last exhibited publicly in Brussels in 1998, it’s being auctioned for the first time since 1980, and has a pre-sale estimate of between 30 million and 50 million pounds ($38 million and $64 million). Camu said Magritte, who died in 1967, has become the most “in-demand” of all the surrealists.

Persons: René Magritte, hasn’t, Olivier Camu, Magritte, Last, it’s, Andre Breton’s, ” Camu, Camu, Salvador Dali, “ Magritte, —, “, ”, Gilbert Kaplan —, Lena Kaplan Locations: London, Belgian, Brussels, Los Angeles, New York, Hong Kong

☆ China's manufacturing activity shrank for the fourth straight month in January
▼ + stars: | 2024-01-31 | by ( Clement Tan | ) www.cnbc.com time to read: 1 min

Banknotes of Renminbi arranged for photography on July 03 2018 in Hong Kong, Hong Kong. China's factory activity contracted for a fourth consecutive month in January, underscoring the much-needed litany of policy support for the world's second-largest economy which Beijing announced last week. The official manufacturing purchasing managers' index rose slightly to 49.2 in January from 49 in December, according to data from the National Bureau of Statistics released Wednesday. The official non-manufacturing managers' index rose to 50.7 in January from 50.4 in December, according to the same NBS release. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction.

Organizations: Beijing, National Bureau of Statistics, PMI Locations: Hong Kong

☆ 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

☆ 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

BANGKOK (AP) — Asian shares were mixed on Tuesday, with Hong Kong and Shanghai leading declines, ahead of a decision by the Federal Reserve this week on interest rates. But shares in China Evergrande New Energy Vehicle Group gained 7% as they resumed trading after they also were suspended on Monday. Other property companies led the decline in Hong Kong, where the benchmark Hang Seng index sank 2.4% to 15,694.69. Political Cartoons View All 253 ImagesTechnology companies also retreated, with food delivery company Meituan down 2.8% and e-commerce giant Alibaba falling 1.9%. On Monday, U.S. stocks gained as they kicked off a week where Wall Street’s most influential stocks may show whether the huge expectations built up for them are justified.

Persons: ” Stephen Innes, Australia's, Archer Daniels, Brent Organizations: Federal Reserve, China Evergrande Group, Energy Vehicle Group, Evergrande, Services, Sunac China Holdings, F, Technology, Management, Nikkei, Dow Jones, Nasdaq, Big Tech, Microsoft, Traders, Fed, Archer Daniels Midland, Amazon, New York Mercantile Exchange, U.S Locations: BANGKOK, Hong Kong, Shanghai, China, Guangzhou, Asia, South Korea, U.S, Wall, iRobot

☆ Hong Kong already has a national security law. Now its leader is pushing for another one
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Hong Kong on Tuesday formally began the process of enacting a controversial homegrown national security law in a move that could have deep ramifications for the city’s status as a global financial hub. Beijing’s national security crackdown of recent years has transformed once-freewheeling Hong Kong, silencing almost all dissent and jailing dozens of political opponents. Under Hong Kong’s mini-constitution agreed by the two powers, the city is required to enact laws to prohibit acts that endanger national security. “Foreign agents and Hong Kong independence ideas are still lurking in Hong Kong society.”Hong Kong Chief Executive John Lee speaks during a press conference at government headquarters in Hong Kong on January 30, 2024. The new security law could bring further uncertainty for Hong Kong, which is striving to maintain its status as Asia’s premier financial hub following three years of strict Covid restrictions and Beijing’s national security crackdown.

Persons: Hong, it’s, John Lee, ”, It’s, we’ve, ” Lee, Lee, Peter Parks, Chris Tang, ” Tang, Tang Organizations: Hong Kong CNN, Tuesday, Hong, CIA, British, Getty Locations: Hong Kong, Beijing, China, AFP, Hong Kong’s, East, West

☆ Toyota is still No.1 but recalls and certification scandals add to list of problems
▼ + stars: | 2024-01-30 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

The Japanese manufacturer said Tuesday it had sold a record 11.2 million vehicles worldwide in 2023, including its Daihatsu and Hino lineups. By comparison, Volkswagen Group announced earlier this month that it had delivered 9.2 million vehicles last year, up 12% compared to 2022. Volkswagen later gained on the Japanese company, unseating Toyota in 2017. That compared with 104,000 battery-powered vehicles sold by Toyota, which has long lagged behind in the global EV race. The company, which is a leader of hybrid cars, sold 3.7 million electric vehicles total in 2023 when including hybrids.

Persons: Hong Kong CNN —, ” Toyota, Toyota, BYD, Warren Buffett, Tesla Organizations: Hong Kong CNN, Hong Kong CNN — Toyota, Volkswagen, Toyota, Daihatsu, Hino, Volkswagen Group, General Motors, Toyota Industries, Cruiser Locations: Hong Kong, Japan, United States, Europe, North America, China

☆ 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

☆ Hong Kong leaders start legislative push to tighten national security laws
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +1 min

Chinese flags and Hong Kong flags are hung in Tsim Sha Tsui district on Oct. 4, 2023 in Hong Kong, China. The Chinese government imposed a National Security Law in the special administrative region on June 30, 2020. Hong Kong's leader confirmed on Tuesday his intention to pass fresh national security laws soon, building on sweeping legislation Beijing imposed on the city in 2020, saying the city has the constitutional responsibility to impose the new laws. A consultation document will be released later on Tuesday, Lee said, and the government will attempt to pass the legislation "as soon as possible." Lee said freedoms would be safeguarded and the laws would meet international standards.

Persons: Hong Kong's, Lee Organizations: Security Law Locations: Hong Kong, Tsim Sha Tsui, China, Beijing

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

☆ 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

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ 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

☆ China stock market: CSRC limits short-selling in latest effort to stem a rout
▼ + stars: | 2024-01-29 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s top securities regulator has limited short-selling, in its latest effort to stem a protracted $6 trillion-dollar stock market rout that began in 2021. The China Securities Regulatory Commission announced Sunday it would “fully” suspend the lending of restricted shares on bourses in mainland China. The Shenzhen stock exchange is the second-largest in mainland China after Shanghai. Bloomberg/Getty ImagesCalm returns but challenges remainChinese authorities have stepped up their measures to stem the stock market rout over the past week. A day later, in an unprecedented move, regulators said they were considering evaluating the performance of the heads of state-owned companies based on their stock market value.

Persons: Hong Kong CNN —, ”, Ken Cheung, Evergrande, ” Cheung, Hong, Li Yunze, Pan Gongsheng Organizations: Hong Kong CNN, China Securities Regulatory Commission, Mizuho Bank, Bloomberg, Shanghai Shenzhen, Administration of Financial, People’s Bank of China Locations: Hong Kong, bourses, China, Shanghai, Shenzhen

☆ Evergrande Will Be Dismantled, a ‘Big Bang’ End to Years of Stumbles
▼ + stars: | 2024-01-28 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

Months after China Evergrande ran out of cash and defaulted in 2021, investors around the world scooped up the property developer’s discounted I.O.U.’s, betting that the Chinese government would eventually step in to bail it out. The order is also likely to send shock waves through financial markets that are already skittish about China’s economy. Evergrande is a real estate developer with more than $300 billion in debt, sitting in the middle of the world’s biggest housing crisis. There isn’t much left in its sprawling empire that is worth much. And even those assets may be off limits because property in China has become intertwined with politics.

Persons: China Evergrande, Evergrande Locations: China, Hong Kong

HONG KONG (AP) — Asian markets opened the week on a positive note, with Chinese regulators announcing measures to support the country’s teetering stock markets while heavily indebted property developer China Evergrande was ordered to undergo liquidation. China's securities regulator announced on Sunday that beginning Monday, China will suspend the lending of specific shares for short selling, a move to support the country’s declining stock markets. The Federal Reserve’s meeting this week will likely end with no change to interest rates, but traders are split on whether it could begin cutting rates in March. It's trying to slow the economy and hurt investment prices enough through high interest rates to get inflation fully under control. Traders are betting the Fed will cut interest rates as many as six times this year, according to data from CME Group.

Persons: China Evergrande, Evergrande, Australia’s, It's Organizations: China Evergrande, Hong, Hong Kong High Court, Dow Jones, Nasdaq, Intel, Fed, Treasury, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, China, Hong Kong, Shanghai, South Korea, Bangkok

FORT LAUDERDALE, Fla. (AP) — Inter Miami played six preseason matches last season. It's basically an around-the-world, big-crowd, big-money, bright-spotlight batch of preseason games for Inter Miami, which instantly became a global brand when Messi announced last summer that he was joining the Major League Soccer club. Political Cartoons View All 253 Images“It’s incredible,” said DeAndre Yedlin, the Inter Miami defender who was captain until Messi arrived. But Inter Miami not only understands the value of having Messi, it welcomed this massive preseason stretch in advance of an MLS season that starts Feb. 21. “You have to see how many times these people are going to have this possibility.”The financial benefit of Inter Miami and Messi playing in Saudi Arabia hasn't been revealed.

Persons: Lionel Messi's, Al Nassr, Messi, Cristiano Ronaldo, ”, DeAndre Yedlin, it’s, Leo, he’s, what's, Ballon, Messi —, Germain, Gerardo “ Tata ” Martino, Saudi Arabia hasn't, Sergio Busquets, Jordi Alba, Luis Suarez, LIV Golf, hasn't, ” Messi, Drake Callender, “ Organizations: — Inter Miami, Inter Miami, Al, Dallas, Cotton, Major League Soccer, ” Inter Miami, Argentina, MLS, Inter Miami —, Paris Saint, “, Messi, Saudi, Florida International University, it's, Ronaldo Locations: FORT LAUDERDALE, Fla, Florida, Saudi Arabia, Hilal, Portugal, El Salvador, Hong Kong, Japan, Saudi, Spanish, Riyadh, “

☆ As China’s Markets Stumble, Japan Rises Toward Record
▼ + stars: | 2024-01-26 | by ( Joe Rennison | Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

There’s a shift underway in Asia that’s reverberating through global financial markets. Stocks stemmed their slide only when Beijing recently signaled its intention to intervene but remain far below previous highs. But there’s one unforeseen reversal already underway: a change in perception among investors about China and Japan. Seizing on this shift, Japan’s prime minister, Fumio Kishida, addressed more than 3,000 global financiers gathered in Hong Kong this week for a conference sponsored by Goldman Sachs. It was the first time a Japanese prime minister had given a keynote address at the event.

Persons: Stocks, Fumio Kishida, Goldman Sachs Organizations: Asia that’s, Nikkei Locations: Asia, China, Stocks, Beijing, Japan, Hong Kong

Search resuls for: "In Hong Kong"

25 mentions found