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☆ Chinese embassy in UK: 'Firmly opposed' to Britain's Hong Kong report
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. REUTERS/Tyrone SiuLONDON, Jan 12 (Reuters) - China's embassy in Britain said on Thursday it had lodged "stern representations" about the UK's latest six-monthly report on Hong Kong, which criticised what it called the erosion of freedoms in the former British territory by China. "It distorted facts, grossly interfered in Hong Kong affairs, which are China’s internal affairs, and seriously violated the basic norms governing international relations," an embassy spokesperson said of the report. "We are strongly dissatisfied with and firmly opposed to it, and have lodged stern representations with the British side." Reporting by Sachin Ravikumar and William James; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Mainland Chinese head to Hong Kong for mRNA COVID vaccines
▼ + stars: | 2023-01-12 | by ( Joyce Zhou | ) www.reuters.com time to read: +2 min

HONG KONG, Jan 12 (Reuters) - Scores of mainland Chinese travellers are rushing to Hong Kong to receive mRNA COVID-19 vaccines, which are not available on the Chinese mainland, as the country grapples with a torrent of infections which have overwhelmed its health system. A private hospital in the special Chinese administrative region of Hong Kong welcomed the first batch of mainland customers on Thursday, just five days after China reopened its borders for the first time in three years, allowing quarantine free travel. [1/5] Yoyo Liang, from mainland China, received a dose of BioNTech bivalent coronavirus disease (COVID-19) vaccine at a private clinic in Hong Kong, China January 12, 2023. There is no bivalent vaccine available in mainland Chin," she explained after she received her jab. Virtus, which has received more than 300 inquiries so far about the vaccines, is expecting more mainland customers to come to Hong Kong in the coming weeks and months, the company's chief medical officer Samuel Kwok told reporters.

[1/2] Chinese travellers wear face masks outside the border checkpoint with the neighbouring city of Zhuhai, during the coronavirus disease (COVID-19) pandemic in Macau, China, December 29, 2022. Over the three-day New Year's Day holiday, businesses and consumers caught their first glimpse of a return to post-pandemic life -- holiday-makers flocked to beaches, flight numbers ticked up, and hotels turned some guests away because they were fully booked. Flight numbers on the last working day ahead of the holiday only recovered 70% compared with pre-pandemic levels, however. Reuters Graphics Reuters GraphicsBOON FOR RESTAURANTSMany businesses have been forced to adapt how they reach customers over the course of the pandemic. As the Lunar New Year rolls in, Chinese officials also expect a significant uptick in activity.

☆ China to open border with Hong Kong on Sunday
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view of village houses at Hong Kong border facing the skyscrapers in Shenzhen, in Hong Kong, China, December 14, 2021. Hong Kong closely followed China's tough zero-COVID policy until the middle of 2022 when it began to ease some of restrictions. China will no longer require people to present COVID tests upon arrival in the mainland from Hong Kong, while China will issue special tourism and business visas for mainland residents to visit Hong Kong from Jan. 8, the office said. China will also increase flights between the mainland, Hong Kong and Macau, it said. Reporting by the Beijing newsroom, Farah Master and Meg Shen in Hong Kong ; Editing by Himani Sarkar and Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Hong Kong residents rush to get vaccinated ahead of China border reopening
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] People queue at a community vaccination centre, ahead of an expected border reopening with China, during the coronavirus disease (COVID-19) pandemic in Hong Kong, China, January 4, 2023. REUTERS/Tyrone SiuHONG KONG, Jan 5 (Reuters) - Hong Kong residents have swamped clinics to get vaccinated against COVID-19 ahead of the expected reopening of the city's border with mainland China, which some people fear will bring a surge of infections to the financial hub. The number of people getting a fourth shot jumped more than 100% this week from a week earlier. Many mainlanders have been asking on social media about how to get an mRNA vaccine in Hong Kong. A Hong Kong resident surnamed Tsoi said she was relieved to have made a booking for BioNTech's second-generation booster.

[1/5] People wearing face masks walk under neon lights near casinos during the coronavirus disease (COVID-19) pandemic in Macau, China, December 29, 2022. REUTERS/Tyrone SiuMACAU, Dec 30 (Reuters) - Three years of COVID-19 forced Becky Zhang’s specialty food business in Macau to near collapse. However, Macau has been closed off to the rest of the world, including neighbouring financial hub Hong Kong, for the past three years. Since reopening, Macau has grappled with a widespread COVID-19 wave, impacting the number of workers across the city. Some tourists who managed to travel to Macau from the mainland for Christmas said they were happy about the lack of crowds.

[1/2] Former acting chief editor of Stand News Patrick Lam leaves the court after release on bail over his charge of conspiring to publish "Seditious Publications" in Hong Kong, China November 7, 2022. REUTERS/Tyrone SiuHONG KONG, Dec 22 (Reuters) - A Hong Kong Court on Thursday rejected an application to terminate a sedition trial against now-defunct online media outlet Stand News, a case that could see two former top editors jailed if convicted. Former editors Chung Pui-kuen, 53, and Patrick Lam, 35, and the outlet's parent company, Best Pencil (Hong Kong) Limited, have been charged with conspiracy to publish seditious material related to news articles and commentaries between July 2020 and December last year. Hong Kong's government has said press freedom is enshrined in the city's mini-constitution, the Basic Law. Reporting by Jessie Pang and Darerca Siu; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Hong Kong, Macau leaders to visit Beijing Dec 21-24
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Hong Kong Chief Executive John Lee speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone Siu/FilesBEIJING, Dec 20 (Reuters) - Hong Kong chief executive John Lee and Macau chief executive Ho Iat Seng will head to Chinese capital Beijing over Dec. 21-24, state media and a government statement said on Tuesday. Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ As Hong Kong opens up, visitors can enter a gym or restaurant immediately
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

[1/5] Travellers arrive at Hong Kong International Airport after the lifting of coronavirus disease (COVID-19) movement controls in Hong Kong, China December 14, 2022. Arriving people now have no movement restrictions but they need to do a PCR COVID test on arrival and again two days after arriving. In another loosening measure, the government announced late on Tuesday that travellers arriving in Hong Kong are free to continue directly to mainland China or Macau as long as they meet the required criteria. Under previous COVID-19 rules, travellers had to wait three days in the city before continuing to the mainland. The move comes after China jettisoned some of the world's toughest restrictions meant to prevent the spread of the coronavirus.

[1/2] Media mogul Jimmy Lai, founder of Apple Daily, leaves the Court of Final Appeal by prison van in Hong Kong, China February 9, 2021. REUTERS/Tyrone SiuHONG KONG, Dec 10 (Reuters) - Pro-democracy Hong Kong tycoon Jimmy Lai was sentenced on Saturday to five years and nine months in prison for fraud, convicted of violating a lease contract for the headquarters of a liberal newspaper he used to run. Lai's lawyer, Derek Chan, had urged the judge to consider Lai's age and contributions to Hong Kong's media industry. A separate, landmark national security trial involving Lai is scheduled to resume on Tuesday. ($1 = 7.7854 Hong Kong dollars)Reporting by Jessie Pang and James Pomfret; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ With tension rising in the Pacific, US special operators have a new goal: Creating 'multiple dilemmas' for China
▼ + stars: | 2022-12-08 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

US special operators are aiming to create "multiple dilemmas" for China, SOCOM's commander says. Multiple dilemmasUS Navy SEALs, Philippine Navy special operators, and Australian special-operations soldiers during an exercise in Palawan in April. 1st Class Jared N. GehmannUS special operators need to continue "developing and strengthening the partner and ally piece that's a comparative and competitive advantage for this nation," Fenton said. Moreover, US special operators have been working closely with all US military branches to better understand how those branches operate and how SOCOM can support them in a conflict with China. The Pentagon's top special-operations official said in May 2021 that special operators could be "a key contributor" to resisting a Chinese attempt to seize Taiwan.

☆ U.S. military bill features up to $10 billion to boost Taiwan
▼ + stars: | 2022-12-07 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

[1/2] Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. Beijing responded angrily when the Senate Foreign Relations Committee approved broader Taiwan legislation in September despite concerns within President Joe Biden's administration that the bill could go too far in heightening tensions with China. The $858 billion military policy bill is expected to pass Congress and be signed into law this month. The "Taiwan Enhanced Resilience Act" included in the NDAA authorizes appropriations for military grant assistance for Taiwan up to $2 billion per year from 2023 through 2027, if the U.S. secretary of state certifies that Taiwan increased its defense spending. It also includes a new foreign military financing loan guarantee authority and other measures to fast-track Taiwan's weapons procurement, as well as creation of a new training program to improve Taiwan's defense.

☆ PE wants to see some cash flow before it starts making deals
▼ + stars: | 2022-12-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

As the markets continue to sour, and a recession looms, everyone's wondering when PE firms will begin scooping up assets. High on Bae's wishlist are "all things digital," he said, with one giant caveat: profitability. There are plenty of companies doing fascinating things in the digital space, but many have yet to reach profitability (*cough* fintechs *cough*). Goldman Sachs is going dumpster diving for crypto companies. Chaos in the crypto markets is creating investing and acquisition opportunities for the bank, according to Matthew McDermott, Goldman's head of digital assets.

☆ Morgan Stanley making 'modest' job cuts, CEO says
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] James Gorman, Chairman and Chief Executive of Morgan Stanley, speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone SiuNEW YORK, Dec 1 (Reuters) - Morgan Stanley (MS.N) is making modest job cuts across the globe, Chief Executive Officer James Gorman said in an interview during the Reuters NEXT conference, as Wall Street comes under pressure with dealmaking slowing down due to the central bank's monetary tightening. "We're making some modest cuts all over the globe. That has put pressure on investment banks like Morgan Stanley, which earned billions of dollars in advisory fees amid unfettered market optimism last year. Other Wall Street firms, including investment banking powerhouse Goldman Sachs Group Inc (GS.N) and major lender Citigroup Inc , have also cut jobs this year.

☆ Hong Kong court adjourns trial of tycoon and China critic Jimmy Lai
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: 1 min

[1/4] Armed police stand guard as they escort a prison van that is believed to carry media mogul Jimmy Lai, founder of Apple Daily, to the High Court in Hong Kong, China, December 1, 2022. REUTERS/Tyrone SiuHONG KONG, Dec 1 (Reuters) - A Hong Kong court on Thursday adjourned to Dec. 13 the high-profile trial of tycoon and China critic Jimmy Lai, who is charged with two counts of conspiracy to collude with foreign countries or external elements, and one count of collusion with foreign forces under a national security law. Lai is also charged with conspiracy to print seditious publications. Reporting by Hong Kong Newsroom; Editing by Anne Marie Roantree and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ China's people are protesting the country's severe zero-COVID policies, and public-health experts agree with them
▼ + stars: | 2022-11-29 | by ( Morgan Mcfall-Johnsen | Paola Rosa-Aquino | ) www.businessinsider.com time to read: +7 min

Protests are erupting across China over the country's restrictive zero-COVID policies. Public-health experts say the policies are unsustainable, ineffective, and unnecessarily severe. Without vaccination campaigns targeting older adults, China's lockdowns may only delay a catastrophic COVID wave. Tyrone Siu/ReutersThere is no easy way forward for China, but constant 2020-style lockdowns are not the solution, according to public-health experts, who called the policies unsustainable, ineffective, and irrational. As a result, Huang thinks the zero-COVID lockdowns are completely unwarranted.

[1/4] Hong Kong Chief Executive John Lee delivers his first annual policy address at the Legislative Council in Hong Kong, China October 19, 2022. REUTERS/Tyrone SiuHONG KONG, Nov 29 (Reuters) - Hong Kong leader John Lee said on Tuesday the central government in Beijing was "highly concerned" about the issue of foreign lawyers appearing in national security cases, with a landmark legal interpretation on the matter by Beijing expected soon. Lee said Hong Kong authorities are seeking a delay to the start of the trial. "It is a grim moment," said one veteran Hong Kong criminal lawyer. Hong Kong officials, including Lee, have said repeatedly that Hong Kong is strongly committed to the rule of law, and its independent judicial power is constitutionally protected.

☆ How we're thinking about our Club stock exposure to China following Covid protests
▼ + stars: | 2022-11-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Global stocks slumped Monday on growing concerns about intensifying protests across China over the communist government's strict Covid policies. Apple (AAPL) — Revenue from China : 17.7% (China is the iPhone maker's second-largest market, lagging just the U.S. at 37.5% of sales.) Disney (DIS) — Revenue from China: 4.8% Devon Energy (DVN) — Revenue from China: 0% Estee Lauder (EL) — Revenue from China: 29.7% (China is the cosmetic giant's largest sales market, followed by the U.S. at 19.8%, per FactSet.) Ford Motor (F) — Revenue from China: 4.6% Alphabet (GOOGL) — Revenue from China: 3.8% Halliburton (HAL) — Revenue from China: 1.6% Honeywell International (HON) — Revenue from China: 4.2% Humana (HUM) — Revenue from China: 0% Johnson & Johnson (JNJ) — Revenue from China: 3.1% Eli Lilly (LLY) — Revenue from China: 5.7% Linde (LIN) — Revenue from China: 8.1% Meta Platforms (META): Revenue from China: 2.6% Morgan Stanley (MS) — Revenue from China: 2.6% Microsoft (MSFT) — Revenue from China: 12.4% Nvidia (NVDA) — Revenue from China: 25.8% — keep in mind: Nvidia's revenue is not attributed to the country in which the consumer buys a product that contains one of the company's semiconductors. Procter & Gamble (PG) — Revenue from China: 13.7% (China is P & G's second-largest sales market, with the U.S. accounting for 45.5% of revenue).

☆ Tesla EVs ranked among the worst in annual reliability survey by Consumer Reports (Nov. 15)
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Tyrone Siu/File PhotoNov 15 (Reuters) - Electric vehicles (EVs) from Tesla Inc (TSLA.O) and other brands were among the least reliable vehicles in the United States, Consumer Reports magazine's annual reliability survey showed on Tuesday. Tesla, the world's most valuable automaker, climbed by four spots and was ranked 19th out of the 24 brands. read moreThe top-ranked brands in the survey were Toyota and Lexus, and seven of the ten best-scoring brands were Japanese and Korean. Among brands owned by Detroit automakers, Lincoln was the only one in the top ten, securing the tenth place. The magazine's annual survey of new vehicle reliability predicts which cars will give owners fewer or more problems than their competitors, based on data collected.

☆ Nvidia's quarter fails to excite but offers enough hope that October's bottom can hold
▼ + stars: | 2022-11-16 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That said, encouragingly, the team expects Gaming inventory levels to approach normal levels as we enter calendar year 2023. Fourth quarter guidance was underwhelming, but it was encouraging to hear management say they expect to see sequential growth in Data Center, Gaming, and Automotive. Segment Q3 sales Data Center revenue grew 31% to $3.83 billion, a tad short versus the $3.84 billion consensus. Gaming revenue fell 51% to $1.57 billion, but it was better than expectations of $1.33 billion. Capital Allocation In its fiscal third quarter, Nvidia returned a total of $3.75 billion to shareholders via dividends and buybacks.

☆ Tesla EVs ranked worst in annual reliability survey by Consumer Reports
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File PhotoNov 15 (Reuters) - Electric vehicles (EVs) from Tesla Inc (TSLA.O) and other brands were among the least reliable vehicles in the United States, Consumer Reports magazine's annual reliability survey showed on Tuesday. Tesla, the world's most valuable automaker, climbed by four spots and was ranked 19th out of the 24 brands. read moreThe top-ranked brand overall in the survey was Lexus, and seven of the ten best-scoring brands were Japanese and Korean. The magazine's annual survey of new vehicle reliability predicts which cars will give owners fewer or more problems than their competitors, based on data collected.

☆ Tesla, Mercedes EVs ranked worst in annual reliability survey by Consumer Reports
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File PhotoNov 15 (Reuters) - Electric vehicles (EVs) and full-size pick-up trucks from Tesla Inc (TSLA.O), Mercedes-Benz (MBGn.DE) and other brands were among the least reliable vehicles in the United States, Consumer Reports magazine's annual reliability survey showed on Tuesday. Tesla, the world's most valuable automaker, climbed by four spots and was ranked 19th out of the 24 brands. read moreThe top-ranked brand overall in the survey was Lexus, and seven of the ten best-scoring brands were Japanese and Korean. The magazine's annual survey of new vehicle reliability predicts which cars will give owners fewer or more problems than their competitors, based on data collected.

☆ Easing Hong Kong's COVID curbs, opening China border top bankers' wish list -HKMA chief
▼ + stars: | 2022-11-07 | by ( Anne Marie Roantree | ) www.reuters.com time to read: +3 min

[1/5] Eddie Yue Wai-man, Chief Executive of the Hong Kong Monetary Authority (HKMA) poses for a picture during an interview with Reuters in Hong Kong, China November 4, 2022. Anti-government protests in 2019 and a national security law imposed by Beijing in 2020 have also clouded Hong Kong's image. The Hong Kong government has said it's working towards lifting COVID-19 rules. While Hong Kong's currency regime is under significant pressure, caught between the United States and China, Yue said the HKMA was prepared for worst-case scenario. "Hong Kong has a very unique advantage, which is the connection between the world and China ...

☆ Hong Kong's Lee touts 'China advantage' to rebuild city's image as financial hub
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +3 min

[1/4] Hong Kong Chief Executive John Lee speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone SiuNov 2 (Reuters) - Hong Kong leader John Lee pitched the city's connection with China in an address to some of the world's top financial executives, as he pushes to rebuild the COVID-ravaged city's image as a major financial hub. Chief Executive Lee told the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit on Wednesday the city would continue working towards lifting COVID restrictions. "Hong Kong remains the only place in the world where the global advantage and the China advantage come together in a single city," Lee said. Authorities, he said, were keen for more international companies to list in Hong Kong to grow the city's capital markets activities.

[1/4] James Gorman, Chairman and Chief Executive of Morgan Stanley, speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. "It’s a painful transition, but not an unexpected transition," said Gorman, also the bank's chairman, at the Global Financial Leaders' Investment Summit. It was Hong Kong's biggest corporate event since it shut its borders in 2020 and introduced restrictions to combat COVID-19. Inflation and "very quick" monetary tightening after over a decade of relatively accommodative policies are making the world more volatile and uncertain, said Goldman Sachs CEO David Solomon (GS.N). If central banks find a way to tame inflation meaningfully and in a balanced way, it will "increase the chance of a soft landing" for their economies, Solomon said.

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