Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day: … ( read original story …)
FINANCE
Pompeo chides HSBC bank for ‘corporate kowtow’ to Beijing
U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBC for backing moves by China to end Hong Kong’s autonomy, saying such “corporate kowtows” got little in return from Beijing. ( read original…
ANALYSIS-China’s troubled Baoshang rescue exposes fault lines in bank reform drive
China’s central bank announced a shock takeover of a lender, its first such move in 20 years, citing “serious credit risks”. Creditors in small Baoshang Bank were to take a hit, assets would be sold…
Hong Kong’s Two British Banks Back Beijing in Security Law Fight
Standard Chartered Plc became the second U.K. bank in a day to endorse China’s proposed security law for Hong Kong, saying it can “help maintain the long-term economic and social stability” of the … (…
Hong Kong’s Leader Wants More Financial Integration With China
Hong Kong’s leader said she told Chinese officials the city should be transformed into a global hub for private wealth and a more prominent offshore Renminbi center, even amid concerns about the … ( read…
Hong Kong leader says financial hub cannot afford any more ‘chaos’
Hong Kong leader Carrie Lam warned on Tuesday the city could not afford further “chaos” as it marked the first anniversary of the start of rolling mass pro-democracy protests. ( read original story …)
China Tries to Have It Both Ways With Virus Recovery
The country announced a slate of climate-friendly stimulus priorities, but has also loosened coal regulations. ( read original story …)
Hong Kong Bailout Lets Cathay Pacific Chart New Future Without Air China Takeover
Cathay was gradually being encircled by competitors, within Asia and further flung, that had fresh cash to steer them through aviation’s worst downturn. ( read original story …)
China is going much more ‘one country’ and much less ‘two systems,’ says expert
China’s critics and opponents in Hong Kong will find it much tougher going forward, says Richard McGregor, senior fellow at the Lowy Institute … ( read original story …)
China reins in nationalists clamoring for an invasion of Taiwan
A pandemic, an economic downturn and an untested military have forced Beijing to temper calls for war. The move highlights the dangers of harnessing nationalism to bolster party control. ( read original story …)
Cathay, Swire Pacific, Air China Suspend Trading in Hong Kong
Embattled Hong Kong carrier Cathay Pacific Airways Ltd. and its two main shareholders Swire Pacific Ltd. and Air China Ltd. suspended trading of their shares on Tuesday, pending an announcement. ( read original story …)
Alibaba says cloud unit to recruit 5,000 staff globally this financial year
Alibaba Group said its cloud unit aims to recruit 5,000 staff globally from now until the end of this financial year, in areas including network, database, servers, chips and artificial intelligence, … ( read original…
What HSBC and Cathay Pacific’s bow to Beijing on Hong Kong national security law tells investors about management in political crises
China tensions escalate, companies are struggling to remain apolitical on the controversial national security law. Investors look to its implementation and potential ESG pitfalls. ( read original story …)
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