Apec's Beijing move no skin off Hong Kong's nose

Few businesses will flee Hong Kong for Beijing just because Apec chooses to hold a meeting in the capital.

The following conversation might or might not have taken place. However, its contents will be treated with disbelief by the serried ranks of "experts" who purport to know how business is conducted but have never had their knowledge sullied by any actual experience.

Wednesday, 5 March, 2014, 1:25am 4 comments

Asian players develop an appetite for risky commodities trading

Wilson Wan, the head of China Merchant Securities (Hong Kong), is establishing a new unit for oil futures trading, focusing on the three mainland oil majors. Photo: Jonathan Wong

While Western financial giants have been exiting the high-risk, high-reward commodities trading business, capital-rich Asian firms, including state-owned banks and brokerages from China, have seized the opportunity to enter the market.

22 Jan 2014 - 12:40am 1 comment

China Merchants Securities taps British market

Merchants Securities in Beijing.

China Merchants Securities, one of the mainland’s oldest and largest securities houses, has set up a subsidiary in Britain to expand into global capital and commodities markets, with a focus on derivatives – at a time when Western rivals are trying to scale back from a business that often comes with high profits and equally high risks.

12 Dec 2013 - 1:45am

Londoners forced to rent will fuel boom in apartment investment

More people will have to rent in London. Photo: Bloomberg

Londoners are increasingly becoming tenants whether they like it or not after the British capital's average home price passed £500,000 (HK$6 million) last month.

With first-time buyers having to borrow more than ever and save longer to afford a down payment, leasing demand is set to soar, and developers and investors are building like never before.

12 Jun 2013 - 4:07am

London luxury market takes a hit

A jogger on Wandsworth Bridge in London, where prices stumbled last month, particularly in the high-end market. Photo: Bloomberg

Luxury homes in central London had the smallest annual increase last month since December 2009 on a decline in the Knightsbridge area, the site of Christian Candy's One Hyde Park complex, Knight Frank said.

5 Jun 2013 - 4:40am

British National Party protest after soldier's killing drowned out by anti-fascists

BNP supporters gathered to protest the May 22 killing of British soldier Lee Rigby. Photo: AP

Police intervened to separate about 150 far-right protesters from a much larger anti-racism crowd in London yesterday to stop them from coming to blows over the killing of a British soldier on a busy street last week.

2 Jun 2013 - 7:58am

Half of new homebuyers in London market are foreigners

London property has cemented its status as a haven for foreign wealth. Photo: Bloomberg

Foreigners spent more than £3 billion (HK$35.7 billion) on new homes in Britain's capital last year, a 25 per cent increase from 2011, broker Jones Lang LaSalle said.

15 May 2013 - 3:06am 1 comment

London homes selling at fastest pace since 2007

A property in New Bond Street, London, where demand has increased three times faster than supply over the last quarter. Photo: Reuters

London homes changed hands at the fastest pace since 2007 last month as the capital's property market drove a third month of UK house price increases, property researcher Hometrack said.

1 May 2013 - 3:44am

Draughty London mansion, anyone?

A general view of 18 Carlton House Terrace in St James's, in London. Photo: EPA

So, London’s reputedly most expensive mansion has been trumped by London’s even more expensive mansion. This comes only a few weeks after reading that Heath Hall, on north London’s Hampstead Heath had its asking price slashed by a thumping £35 million (HK$420 million) from its previous £100 million (HK$1.2 billion) tag.

29 Apr 2013 - 12:56pm

Super-rich eye London's most expensive house

The palatial Regency mansion at 18 Carlton House Terrace, London, that is now on sale with a £250 million price tag. Photo: SCMP

Wealthy Hong Kong and mainland buyers, who have been pouring their money into London's prime bricks and mortar, are now eyeing Britain's most expensive mansion. The house on Carlton House Terrace in central London has a price tag of £250 million (HK$2.95 billion).

24 Apr 2013 - 6:03am

'Help wanted' as London's banks tighten compliance

Candidates for jobs in corporate governance are on the salary escalator amid a recent flurry of hiring activity. Photo: Bloomberg

Job vacancies at financial services companies in London jumped 25 per cent in the first quarter of this year as firms bolstered their compliance and risk-management divisions in order to placate regulators, a new survey shows.

12 Apr 2013 - 6:13am

Fun and Games for new Olympic tenant West Ham

London mayor Boris Johnson (second left)

Bubbles feature prominently on the terraces of Upton Park in east London, the home of West Ham United. Hammers fans sing about forever blowing the spherical globules and a special machine bellows thousands of the suds into the air at the start of every game.

30 Mar 2013 - 5:40am

London home prices rise as weak pound fuels foreign buying interest

Asking prices in London have surged over £41,000 in the past year, led by a 6.2 per cent rise in Kensington and Chelsea. Photo: Bloomberg

London home sellers raised asking prices this month as the weakness of the pound fuelled interest from overseas buyers during the spring selling season, according to Rightmove, a property-website operator.

20 Mar 2013 - 5:22am

Ups and downs of fashion scene in Milan and London

Burberry's menswear show will move back to London. Photo: AFP

The global fashion markets shift quickly and although Paris remains the undisputed centre, the two other major European cities on the agenda seem to be in a constant power struggle.

18 Mar 2013 - 10:22am

Prime Hong Kong office rents fell 24pc in 2012: Cushman & Wakefield

London's West End. Photo: Bloomberg

London's West End has assumed Hong Kong's mantle as the world's most expensive place to lease an office, after rents in Central fell sharply last year as a result of the global economic downturn, which put a stop to the expansion plans of many financial institutions.

21 Feb 2013 - 6:07am