Hong Kong shares open up

Hong Kong stocks began Friday morning slightly higher, extending the previous day’s rally as Wall Street inched towards a new record, with traders cheered by more healthy earnings results. The Hang Seng Index edged up 0.06 percent to 27,741. The Shanghai Composite Index eased 0.08 percent to 3,572, while the Shenzhen Composite Index slipped 0.11 […]

Uber picks up logistics firm for US$2.25bn

Uber on Thursday announced a US$2.25 billion deal to beef up its freight unit with the acquisition of a firm specialising in logistics management software. Combining Texas-based Transplace with Uber Freight will create a huge, comprehensive transportation and logistics network, the companies said in a joint release. “The acquisition will combine the world’s premier shipper […]

US stocks gain on earnings, economy hopes

Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the US economic recovery fueling a risk-on rally. All three major US stock indexes added to their previous session’s advance, placing all three within 1 percent of their all-time closing highs. Economically sensitive smallcaps, semiconductors and […]

Here are 3 Ways Banks Can Adopt Regtech

Over the last decade, regulatory and compliance requirements have increased for all financial companies. At the same time, countries are introducing new legislation and regulatory requirements. Dealing with these evolving and ever-changing compliance expectations can be a costly ordeal. According to a report by Deloitte, operating costs spent on compliance has increased by more than […]

US stocks rebound from losing streak

Wall Street ended sharply higher on Tuesday, rebounding from a multi-day losing streak as a string of upbeat earnings reports and revived economic optimism fuelled a risk-on rally. All three major US stock indexes gained more than 1% with the blue-chip Dow, on the heels of its worst day in nine months, leading the charge. […]

Hong Kong stocks extend losses at open

Hong Kong stocks opened Tuesday morning in negative territory following another hefty fall on Wall Street sparked by increasing fears about the fast spread of the Delta virus variant that is causing some governments to reimpose containment measures. The Hang Seng Index slipped 0.34 percent to 27,396. The benchmark Shanghai Composite Index retreated 0.68 percent […]

US drug firms ‘agree US$26bn opioid settlement’

US state attorneys general and lawyers for local governments are expected this week to unveil a landmark, US$26 billion settlement resolving claims that the three largest US drug distributors and drugmaker Johnson & Johnson helped fuel a nationwide opioid epidemic, people familiar with the matter said. Under the settlement proposal, distributors McKesson, Cardinal Health and […]

Fintech as a Catalyst for Hong Kong’s Green Finance Ambitions

In Hong Kong, fintech will play a key role in creating a more environmentally-friendly financial system and help the city reach its green finance ambitions, experts told Fintech News Hong Kong. Technology and sustainability are quickly emerging as two key driving forces reshaping the global financial ecosystem. Given Hong Kong’s existing position as one of […]