DBS sued over investment losses
A retired couple are suing DBS Bank alleging misrepresentation resulting in the loss of US$1.26 million in their Lehman Brothers-related investments. In a writ filed on Monday in the High Court, Stephen Tou Kwok-woon and his wife, Wong Fung-chun, allege that a bank executive failed to properly advise them about the risks involved in their 2006 and 2007 investments.
Provisional-tax delays sought
The Inland Revenue Department received 33,400 applications to hold over provisional tax, a sharp rise of 40 per cent on last year. Of these, 28,100 wanted provisional salaries tax held over and 3,100 wanted profits tax held over, an increase of 49 per cent and 40 per cent, respectively.
Firms wary about hiring
A global survey shows 86 per cent of Hong Kong employers have no intention of hiring new staff in the first quarter of next year. The Net Employment Outlook indicator shows the services sector is the most optimistic about hiring, while the mining and construction sectors expect the largest staff reductions.
