Banking & Finance | South China Morning Post

Gold still overrated despite sell-off, says Singapore investment official

While falling gold prices have sent a flood of Chinese housewives to Causeway Bay jewellery shops to hunt for bargains, Singapore’s top investment official has warned that the precious metal still...

3:55PM

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EU draft bank rescue law would not shield big deposits

A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros...

11:10AM

China insurer PICC P&C plans $938 mln rights offer

Chinese state-controlled insurer PICC Property and Casualty (PICC P&C) is raising 5.76 billion yuan (HK$7.21 billion) to bolster capital, expecting strong growth and amid signs that...

2:15PM

Investors may lobby JPMorgan to clip Dimon’s wings if vote fails

JPMorgan Chase’s Jamie Dimon may be losing ground in his fight to keep the title of chairman, as some major investors push for more oversight of the chief executive after the “London whale”...

10:02AM

Overpriced IPOs spell longer-term misery for A share investors

For 10 years a yawning chasm has existed between the performance China’s stock market and its economy, according to a veteran China expert, who likens the market to a casino – with all the risk...

3:17PM

UBS China pins hopes on China bond market, derivatives

UBS Securities, a joint venture managed by the Swiss banking group, reported last month its net earnings shrank by more than 90 per cent to 11.3 million yuan (HK$14.3 million) over the four-year...

4:18AM

Hong Kong Mercantile Exchange fails amid dearth of gold futures trading

The Hong Kong Mercantile Exchange's failure to come up with a viable gold futures business proved to be its undoing as it wilted under competition from more established domestic and international...

4:18AM

Hong Kong mediation centre aims to end Lehman minibonds investor pain

Although the taxpayer-funded Financial Dispute Resolution Centre has handled far fewer cases than expected in its first 10 months of operation, industry players say it has made banks and brokers...

4:18AM

BANKING

HSBC still set on hiring more Hong Kong staff despite job cuts

Despite plans by HSBC to cut staff globally by up to 5.5 per cent over the next three years, the bank still intends to hire people in Hong Kong, chief executive Stuart Gulliver told shareholders...

4:09AM