Every now and then, Beijing unleashes unexpected crackdowns on business. This decade has seen aggressive campaigns to rein in powerful private enterprises, from tech to education and property developers. The latest arena to come under scrutiny is cross-border flows , and the companies that facilitate and benefit from such capital leakage. In recent weeks, regulators have threatened severe penaltie...
Every now and then, Beijing unleashes unexpected crackdowns on business. This decade has seen aggressive campaigns to rein in powerful private enterprises, from tech to education and property developers. The latest arena to come under scrutiny is cross-border flows , and the companies that facilitate and benefit from such capital leakage. In recent weeks, regulators have threatened severe penalties for brokers based overseas for allegedly operating on the mainland without a license. Officials vowed to confiscate all “illegal gains” from their domestic and overseas entities. Tax officials are targeting wealthy individuals, who face levies of up to 20% on investment gains, along with potential penalties for overdue payments. Hong Kong — and its role as an offshore financial center — is in focus. Citic Securities estimates the clampdown could affect as much as HK$250 billion ($32 billion) of assets in the former British colony. On Thursday, shares of HSBC and AIA tumbled after a media report said that some banks have suspended opening Hong Kong bank accounts for clients in mainland China that could be used for overseas investments. The chill is deepening. Private banks are postponing events in China and discouraging staff travel. UBS’s mid-year wealth outlook, originally scheduled to take place this month in mainland China, is said to be postponed. A China-based event by HSBC is still proceeding but non-essential mainland travel for Hong Kong-based private bankers is being discouraged. Beijing’s caution is understandable. Outflows by residents reached an estimated record of $807 billion last year, according to data from the Institute of International Finance. Meanwhile officials are seeking to shore up local government revenue hit by the property market slump — a downturn which is partly responsible for China’s rich turning to overseas investments. How far China is prepared to go to stem such flows isn’t known, but previous campaigns show such scrutiny is rarely short-...
Japanese Prime Minister Sanae Takaichi ’s government needs to communicate more carefully with the bond market, she told a parliamentary committee on Friday. Her remarks came in response to a question from an opposition lawmaker about the rise in long-term yields since she took office and her plans for restoring fiscal health. The yield on the heavily indebted nation’s benchmark 10-year bond briefl...
Japanese Prime Minister Sanae Takaichi ’s government needs to communicate more carefully with the bond market, she told a parliamentary committee on Friday. Her remarks came in response to a question from an opposition lawmaker about the rise in long-term yields since she took office and her plans for restoring fiscal health. The yield on the heavily indebted nation’s benchmark 10-year bond briefly touched 2.8% on May 18, its highest level since 1996. While it has fallen back since then, concerns remain about her spending plans, including a sales tax break and increased outlays on defense. Read More: Japan Unveils $19 Billion Extra Budget to Cushion Mideast Impact “I’m not seeking fiscal policy that has a needlessly expansionary scale or that would damage the trust of the markets,” Takaichi said. She added that she pays close attention to market movements and economic indicators. Takaichi is mulling whether to temporarily reduce the sales tax on food from 8% to zero or 1% as she tries to fulfill election pledges to ease the cost of living crunch for households. Reducing the tax to zero would cost around ¥5 trillion a year, more than the ¥3.1 trillion extra budget approved by the cabinet this week.
VEON's ( VEON ) digital operator subsidiary, Kyivstar ( KYIV ) , said that Uklon, which is part of Kyivstar’s digital ecosystem, will expand its digital mobility through the acquisition of electric scooter operator E-wings. Uklon has entered an agreement to acquire a 100% stake in E-wings for UAH 97.6 M (~$2.2M). E-wings operates a fleet of about 3,000 electric scooters across 11 Ukrainian cities....
VEON's ( VEON ) digital operator subsidiary, Kyivstar ( KYIV ) , said that Uklon, which is part of Kyivstar’s digital ecosystem, will expand its digital mobility through the acquisition of electric scooter operator E-wings. Uklon has entered an agreement to acquire a 100% stake in E-wings for UAH 97.6 M (~$2.2M). E-wings operates a fleet of about 3,000 electric scooters across 11 Ukrainian cities. The deal adds micromobility services to Uklon's existing ride-hailing, delivery, advertising, and travel offerings, creating a multimodal transportation platform. The transaction is expected to complete in Q3 2026. “Kyivstar is building a digital ecosystem around essential everyday services. By adding E-wings to Uklon, we are expanding from connectivity into digital services that improve lives, support sustainable urban mobility, and create economic value in Ukraine,” said Kaan Terzioğlu, Chief Executive Officer of VEON ( VEON ). More on VEON VEON Ltd.: Cheap Enough To Offset The Frontier Risk VEON Ltd. (VEON) Q1 2026 Earnings Call Transcript VEON Ltd. 2026 Q1 - Results - Earnings Call Presentation Mid-Cap communication services stocks ranked by quant ratings after earnings season VEON prices $1.4B dual-tranche bond offering to refinance debt
It's been a year of eye-popping changes for Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) . It began with the retirement of longtime CEO Warren Buffett (who remains chair of the board) on Dec. 31. For the first time in well over half a century, the trillion-dollar conglomerate that the Oracle of Omaha built has a new boss, Greg Abel. Following the filing of quarterly Form 13Fs with regulators on Ma...
It's been a year of eye-popping changes for Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) . It began with the retirement of longtime CEO Warren Buffett (who remains chair of the board) on Dec. 31. For the first time in well over half a century, the trillion-dollar conglomerate that the Oracle of Omaha built has a new boss, Greg Abel. Following the filing of quarterly Form 13Fs with regulators on May 15, Wall Street and investors learned that Abel undertook a massive overhaul of Berkshire Hathaway's $330 billion investment portfolio . A total of 16 positions were sent to the chopping block, representing a third of the total holdings that Buffett had overseen in his final quarter as CEO. The portfolio that Warren Buffett's successor now guides is highly concentrated, with 61% of invested assets put to work in just five stocks -- one of which is a virtual monopoly. Continue reading
At least 3,000 Herero and Nama people died in a German concentration camp at Shark Island, Namibia. A new forensic exhibition in Berlin is using digital technology to unearth how colonisers scarred a landscape, and a community Visiting the Namibian port town of Lüderitz in late 2024, I came across a small museum run by descendants of German settlers. Alongside imperial German flags and memorabilia...
At least 3,000 Herero and Nama people died in a German concentration camp at Shark Island, Namibia. A new forensic exhibition in Berlin is using digital technology to unearth how colonisers scarred a landscape, and a community Visiting the Namibian port town of Lüderitz in late 2024, I came across a small museum run by descendants of German settlers. Alongside imperial German flags and memorabilia, it displayed artefacts of the Herero tribe that had been recovered from nearby Shark Island. What went unmentioned is that, from 1905 to 1907, Shark Island was the site of a concentration camp where Herero and Nama prisoners were subjected to forced labour, starvation and systematic abuse. At least 3,000 people are estimated to have died there. Shark Island was used as a tourist campsite when I visited. Monuments on the island honoured Adolf Lüderitz and Heinrich Vogelsang, the German merchants who helped establish the colony known as German South West Africa. Today, it is widely reported that Namibia’s white minority – less than 2% of the population – owns roughly 70% of commercial farmland. Continue reading...
Nvidia (NVDA) stock is up about 15.98% year to date, at the time of writing, Thursday afternoon, June 4. Meanwhile, the SPDR S&P 500 index (SPY) is up about 10.97% in the same period. While the stock has outpaced the S&P 500, its growth has lagged that of other computer-related ...
Nvidia (NVDA) stock is up about 15.98% year to date, at the time of writing, Thursday afternoon, June 4. Meanwhile, the SPDR S&P 500 index (SPY) is up about 10.97% in the same period. While the stock has outpaced the S&P 500, its growth has lagged that of other computer-related ...