Economic Crisis

Soccer's transfer world is suffering from global crisis

Soccer's transfer world is suffering from global crisis

The global economic crisis is causing a major shift in the demographics of European soccer with cash-strapped Spain and Portugal witnessing an exodus of talent to rival leagues, a study has found.

Saturday, 26 January, 2013, 4:16am

Millions across Europe strike to protest spending cuts

Graffiti sprayed on the front of a bank in Madrid says "murderers" in Spanish. Photo: AFP

Police and protesters clashed in Spain and Italy yesterday as millions of workers went on strike across Europe to protest spending cuts they say have made the economic crisis worse.

15 Nov 2012 - 2:57am

Syrians forced to sell heirlooms just to survive

A woman examines gold rings in Damascus. Photo: SCMP Pictures

In a Damascus jewellery shop, the customer's jaw drops when he hears what he is being offered for his gold ring. Barely US$100. "Can't you do any better?" he asks timidly before accepting the deal.

After nearly 20 long months of conflict, many Syrians are now digging deep into their pockets, with many having to sell their jewellery - including family heirlooms - just to survive.

13 Nov 2012 - 3:01am

Spain set to seek euro-zone bailout, budget and banking audit suggest

Despite rising anti-austerity protests, Spain appears poised to apply for a sovereign bailout.

After four years fighting the markets and a mushrooming economic crisis, Spain appears poised to cave in and apply for a sovereign bailout.

1 Oct 2012 - 4:26am

In bank crisis, caution better than cure

Over the weekend, finance chiefs from the Group of 20 (G20) industrialised and developing countries meeting in Paris endorsed a 1 to 2.5 per cent capital surcharge to be phased in from 2016.

18 Oct 2011 - 12:00am

New Lord Mayor bears up well to big-city role

When London Lord Mayor Michael Bear first arrived in the British capital with his girlfriend Barbara in 1978, he had only GBP200 in his pocket.

17 Jan 2011 - 12:00am

EU would do well to stop rescuing the fat and lazy big banks

Bankers in Europe face tougher pay rules limiting cash payments to no more than 30 per cent of their bonus under revised laws to regulate banks' capital approved by the European Union Parliament.

Bloomberg, July 7

11 Jul 2010 - 12:00am

It is Europe's turn to get its house in order

The US is on the verge of launching the most significant financial reform since the Great Depression. The regulatory overhaul - which US President Barack Obama is expected to sign into law in the next few weeks - will mark his second major legislative achievement since pushing through health care reform.

29 May 2010 - 12:00am

A university we pay for owes us transparency

We are used to hearing about massive losses caused by people on mega-salaries during the financial crisis, but few expect to see that happening at one of our universities. Polytechnic University has, sadly, distinguished itself by the size of its investment losses, the number of loss-making companies and subsidiaries it has set up, and the big pay packets of its most senior staff.

5 Mar 2010 - 12:00am

A look back at decade's good, bad and ugly

As this is the new decade's first White Collar, it is worth looking back at 'the good, the bad and the ugly' in our financial markets over the past decade and what we have to look forward to in the next 10 years.

5 Jan 2010 - 12:00am

Companies brace for tough year when any profits will be prized - Banking

One of the challenges the banking sector faces in 2010 is the risk of capital outflow, which could affect the asset markets, according to Benjamin Hung Pi-cheng, who will take up the chairmanship of the Hong Kong Association of Banks this year.

1 Jan 2010 - 12:00am

Why signs of recovery could be very bad news

Investors in the Hong Kong stock market were in a jubilant mood on Wednesday.

Overjoyed that consumer confidence in the United States surged this month, and encouraged by signs that heavy investment is supporting rapid growth in China, they concluded that the long-awaited economic recovery is now well under way.

29 May 2009 - 12:00am

5,900 seek help in financial crisis

Almost 6,000 people affected by the financial meltdown have sought help through a hotline.

The Financial Crisis Emotional Support Hotline, which was launched last October, has so far received 5,900 requests for help, with 56 per cent of people saying they had financial difficulties, labour minister Matthew Cheung Kin-chung said yesterday.

23 Mar 2009 - 12:00am

Global companies brace for supply disruptions

Global companies are bracing for supply chain disruptions on the mainland as the end of the Lunar New Year brings with it the expectation of further factory closures.

Issues such as workers not returning to the workplace and manufacturers shutting down as a result of the financial crisis are having an impact on the normal flow of global supply chains.

31 Jan 2009 - 12:00am

Financial capitals unlikely to lose their clout

As New York and London continue to reel from the global financial crisis, pundits everywhere are confidently predicting a sharp decline in the relative financial importance of these two cities. Newer financial centres in the emerging world, they claim, especially newer Asian financial centres, will rise to wrest away their financial dominance.

3 Nov 2008 - 12:00am