• Thu
  • Oct 2, 2014
  • Updated: 2:29pm

Brokerage

'Shadow banking' expands as Hong Kong brokers lend to Chinese businessmen

Many Hong Kong brokerages have a new and profitable business, despite the economic downturn: lending money to mainland entrepreneurs at high interest rate, sometimes more than 30 per cent.

Monday, 13 May, 2013, 7:58pm 5 comments

Market Wrap: Hang Seng rises first time in four days on fiscal cliff talks

The Hang Seng gained for the first time in four days on Thursday, as optimism that the US may soon strike a deal to resolve the so-called “fiscal cliff” offset the impact of a continued slump in A-shares.

29 Nov 2012 - 4:36pm

KBW to close Hong Kong office after sale

Securities firm Keefe Bruyette & Woods is in the process of closing its operations in Hong Kong and Tokyo to focus on core businesses in the US and Europe, following its acquisition by Stifel Financials.

The shutdown is expected to result in about 20 job losses and cost about US$4 million, mostly in severance payouts.

10 Nov 2012 - 5:04am

Pandit quits as Citigroup's chief

Citigroup chief executive Vikram Pandit resigned abruptly yesterday, effective immediately, a shock change at the top of the No 3 US bank the day after a surprisingly strong quarterly earnings report.

Analysts and investors quickly raised red flags about the timing, saying it did not appear to be a natural transition and rather suggested some sort of dispute at the bank.

17 Oct 2012 - 3:26am