https://www.scmp.com/rss/287933/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Julie Zhang Julie Zhang US biopharmaceutical company Gilead Sciences agreed to buy Ouro Medicines, which is developing an antibody-based medicine for autoimmune diseases licensed from China’s Keymed Biosciences, in a deal worth up to US$2.18 billion. Gilead Sciences is among a group of global drug makers facing patent expirations and turning to mergers, acquisitions and licensing deals to refill their drug pipelines. Under the agreement, Gilead Sciences would pay shareholders of US-based Ouro Medicines US$1.675 billion... https://www.scmp.com/business/china-business/article/3347693/rights-antibody-drug-chinas-keymed-change-hands-gilead-acquisition-ouro?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347693/rights-antibody-drug-chinas-keymed-change-hands-gilead-acquisition-ouro?utm_source=rss_feed Tue, 24 Mar 2026 07:51:07 +0000 Themis Qi Themis Qi Zijin Mining, China’s largest gold producer, has expanded its buying spree by acquiring controlling shares in China-based Chifeng Jilong Gold Mining for 18.26 billion yuan (US$2.64 billion), the company said. The acquisition came only two months after Zijin Mining proposed to buy Canadian Allied Gold for 28 billion yuan as part of its global expansion. Through its subsidiary Zijin Gold, the acquisition was structured in two primary tranches, Zijin Mining said in a Hong Kong stock exchange filing... https://www.scmp.com/business/commodities/article/3347547/chinas-zijin-mining-clinches-us26-billion-chifeng-gold-takeover-expansion-drive?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3347547/chinas-zijin-mining-clinches-us26-billion-chifeng-gold-takeover-expansion-drive?utm_source=rss_feed Mon, 23 Mar 2026 06:17:31 +0000 Agence France-Presse Agence France-Presse A federal jury in California found on Friday that tech titan Elon Musk misled Twitter shareholders in an effort to drive down the company’s share price as he was poised to buy it in a US$44 billion deal. The verdict in a class action securities lawsuit means the world’s richest person could be ordered to pay out as much as US$2.6 billion, according to damages calculated by jurors. Giuseppe Pampena filed the suit against Musk on behalf of people who sold Twitter shares between mid-May of 2022 and... https://www.scmp.com/news/world/united-states-canada/article/3347400/elon-musk-misled-twitter-shareholders-us-jury-finds?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3347400/elon-musk-misled-twitter-shareholders-us-jury-finds?utm_source=rss_feed Fri, 20 Mar 2026 23:51:38 +0000 Cheryl Arcibal,Yulu Ao Cheryl Arcibal,Yulu Ao An Ant Group subsidiary has fulfilled all the necessary requirements for acquiring Bright Smart Securities & Commodities Group, Hong Kong’s largest retail stock brokerage, after completing reporting procedures with China’s regulatory authorities, the two companies announced in a joint off-trading-hours filing on Monday. Wealthiness and Prosperity Holding, which is ultimately controlled by Ant Group, had completed reporting procedures required for high-value non-sensitive investment projects, it... https://www.scmp.com/business/companies/article/3346811/ant-group-subsidiary-completes-steps-takeover-hks-largest-retail-stock-brokerage?utm_source=rss_feed https://www.scmp.com/business/companies/article/3346811/ant-group-subsidiary-completes-steps-takeover-hks-largest-retail-stock-brokerage?utm_source=rss_feed Tue, 17 Mar 2026 00:52:51 +0000 Aileen Chuang Aileen Chuang Private equity and other investment firms remain broadly optimistic about deploying capital in acquisitions and initial public offerings (IPOs) globally, supported by ample dry powder and diversification efforts while keeping a close eye on geopolitics, according to senior investment bankers. As geopolitical uncertainty had become a constant factor in the global market in recent years, “we are broadly optimistic about the opportunities”, Ashu Khullar, head of global asset managers at Citigroup,... https://www.scmp.com/business/banking-finance/article/3345981/investment-firms-remain-upbeat-deals-despite-geopolitical-tensions-bankers-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345981/investment-firms-remain-upbeat-deals-despite-geopolitical-tensions-bankers-say?utm_source=rss_feed Mon, 09 Mar 2026 09:45:08 +0000 Themis Qi Themis Qi The capital market is likely to be a battleground between traditional businesses and artificial intelligence start-ups, as tech investors expect both to survive AI-driven disruption through mergers and acquisitions (M&As). The outlook follows the launch of new agentic products by start-ups like Anthropic, which pushed investors to view AI as a potential replacement for the business models of established industry leaders, triggering an “AI scare trade” in January in listed software, wealth... https://www.scmp.com/business/banking-finance/article/3345226/how-ai-scare-trade-sparking-ma-battles-traditional-firms-and-start-ups?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345226/how-ai-scare-trade-sparking-ma-battles-traditional-firms-and-start-ups?utm_source=rss_feed Tue, 03 Mar 2026 05:39:53 +0000 Agence France-Presse Agence France-Presse Paramount Skydance, run by pro-Trump technology heir David Ellison, was poised to take control of Warner Bros. Discovery after Netflix said it would not raise its takeover offer, ending one of the biggest media bidding wars in a generation. The deal puts a constellation of media properties - from CNN to Nickelodeon to HBO - under the control of the family led by Oracle tycoon and White House ally Larry Ellison. Netflix said it was “declining to match” Paramount’s latest offer after the Warner... https://www.scmp.com/news/world/united-states-canada/article/3344795/netflix-abandons-warner-bros-bid-clearing-way-paramount?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3344795/netflix-abandons-warner-bros-bid-clearing-way-paramount?utm_source=rss_feed Fri, 27 Feb 2026 00:35:17 +0000 Coco Feng Coco Feng Meta Platforms is moving forward with integrating the newly acquired artificial intelligence agent start-up Manus, according to two sources, despite Beijing’s probe into the US$2 billion deal. Some members of the Manus team in Singapore had moved into Facebook parent Meta’s offices and were granted Meta corporate accounts and other access, one of the sources said. Meta was also offering its employees the opportunity to transfer to Manus, preferring Chinese-speaking staff, a second source... https://www.scmp.com/tech/article/3344755/facebook-owner-meta-presses-ahead-manus-merger-despite-beijing-probe?utm_source=rss_feed https://www.scmp.com/tech/article/3344755/facebook-owner-meta-presses-ahead-manus-merger-despite-beijing-probe?utm_source=rss_feed Thu, 26 Feb 2026 13:30:08 +0000 Peggy Ye Peggy Ye A consortium comprising CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie in a deal worth £10.5 billion (US$14.2 billion), according to a joint filing issued before the Hong Kong market opened on Thursday. The agreement was signed after trading hours on Wednesday in Hong Kong, London and Paris. The announcement triggered a rally across the CK group’s Hong Kong-listed... https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed Thu, 26 Feb 2026 00:38:30 +0000 Enoch Yiu Enoch Yiu HSBC Holdings unveiled a range of new growth targets and strategies on Wednesday, including plans to boost investment in Hong Kong and other high-growth markets to US$1.8 billion in the coming years. CEO Georges Elhedery said the bank would raise its return target to 17 per cent or higher from 2026 to 2028, while maintaining a sustainable dividend policy. The forward-looking commitments helped lift HSBC’s share price despite a 7 per cent decline in annual profit. Among the expansion plans, the... https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed Wed, 25 Feb 2026 04:32:46 +0000 Gloria Tso Gloria Tso From Brussels to Beijing to Hong Kong and beyond, few European luxury brands have built as strong a presence in Asia as Delvaux, the world’s oldest luxury leather goods maison. Spearheading much of that formidable growth in the region is CEO Jean-Marc Loubier, who isn’t interested in using stiff economic terms to talk about the business. The long-standing luxury visionary instead refers to consumers as “clients” and reimagines Delvaux’s accessories as architectural icons of the brand’s nearly... https://www.scmp.com/magazines/style/people/luxury-ceos/article/3343670/style-edit-delvaux-ceo-jean-marc-loubier-brands-living-legacy-and-new-hong-kong-flagship?utm_source=rss_feed https://www.scmp.com/magazines/style/people/luxury-ceos/article/3343670/style-edit-delvaux-ceo-jean-marc-loubier-brands-living-legacy-and-new-hong-kong-flagship?utm_source=rss_feed Wed, 25 Feb 2026 02:08:17 +0000 Aileen Chuang Aileen Chuang The mergers and acquisitions (M&A) market is expected to have its best year ever, with artificial intelligence dominating activity despite recent volatility in technology stocks and broader jitters across assets, according to senior investment bankers at Citigroup. Market participants worldwide faced a repricing in the digital economy and a wave of sell-offs across tech stocks, commodities and cryptocurrencies last week as investors grappled with the implications of AI. However, the turmoil... https://www.scmp.com/business/banking-finance/article/3342869/ma-market-firing-all-cylinders-headed-record-year-citigroup-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342869/ma-market-firing-all-cylinders-headed-record-year-citigroup-says?utm_source=rss_feed Mon, 09 Feb 2026 03:30:13 +0000 Vincenzo La Torre Vincenzo La Torre When Remo Ruffini acquired Moncler in 2003, down jackets were utilitarian basics relegated to the back of the closet. Ruffini – back then an under-the-radar entrepreneur from a family in Como’s textile and clothing trade – has been single-handedly responsible for transforming a functional wardrobe staple into a de facto status symbol that is the clothing equivalent of a high-end handbag. The current chairman and outgoing CEO of Moncler, Ruffini didn’t set out to build an empire when he took over... https://www.scmp.com/magazines/style/people/luxury-ceos/article/3342585/how-remo-ruffini-made-moncler-luxury-powerhouse-grenoble-winter-olympics?utm_source=rss_feed https://www.scmp.com/magazines/style/people/luxury-ceos/article/3342585/how-remo-ruffini-made-moncler-luxury-powerhouse-grenoble-winter-olympics?utm_source=rss_feed Fri, 06 Feb 2026 22:00:16 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China said Panama risks paying a “hefty political and economic price” following the cancellation of Hong Kong-based CK Hutchison Holdings’ contract to operate two major ports serving the Panama Canal. “The Panamanian authorities’ insistence on this despite widespread concerns is tantamount to shooting themselves in the foot,” China’s Hong Kong and Macau Affairs Office said in a commentary posted on its WeChat account on Tuesday. The decision by the Panama Supreme Court “is legally unfounded and... https://www.scmp.com/plus/news/china/politics/article/3342373/panama-ports-defeat-shows-china-faces-tougher-test-latin-america?utm_source=rss_feed https://www.scmp.com/plus/news/china/politics/article/3342373/panama-ports-defeat-shows-china-faces-tougher-test-latin-america?utm_source=rss_feed Wed, 04 Feb 2026 09:10:21 +0000 Igor Patrick Igor Patrick China’s state-owned aluminium giant Chalco and Anglo-Australian miner Rio Tinto have agreed to buy a controlling stake in Brazil’s Companhia Brasileira de Aluminio (CBA) in a deal valued at US$886 million, marking one of the most significant foreign acquisitions in Brazil’s metals sector in recent years and reinforcing China’s growing footprint in the country’s strategic mineral assets. The transaction covers Brazilian conglomerate Grupo Votorantim’s 68.6 per cent stake in CBA and will be... https://www.scmp.com/news/china/diplomacy/article/3342156/china-tightens-grip-brazil-minerals-chalco-rio-tinto-buy-control-cba-us886m?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3342156/china-tightens-grip-brazil-minerals-chalco-rio-tinto-buy-control-cba-us886m?utm_source=rss_feed Mon, 02 Feb 2026 19:04:52 +0000 Josiah Ng Josiah Ng The year is off to a running start for the world of high horology. LVMH, as always, kicks things off with a monumental LVMH Watch Week featuring nine brands and their stellar releases. Meanwhile, corporate moves abounded as Frederique Constant was named official timekeeper for Pro Padel League, and Richemont shook hands with the Damiani Group for the latter to acquire Baume et Mercier. Major releases include “reverse panda” Omega Speedmaster models and a Russian watch with a wood case operated... https://www.scmp.com/magazines/style/luxury/watches/article/3341806/5-biggest-watch-moments-january-2026-new-omega-models-lvmh-watch-week?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/watches/article/3341806/5-biggest-watch-moments-january-2026-new-omega-models-lvmh-watch-week?utm_source=rss_feed Sat, 31 Jan 2026 06:00:13 +0000 Cao Li,Cheryl Arcibal Cao Li,Cheryl Arcibal The potential sale of a stake in New World Development (NWD) to new investors will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. It was reported earlier that New York-based private equity giant Blackstone was interested in investing in NWD, which could take the form of “shareholder loans or direct equity financing, as well as offloading noncore investment properties”, said Jeff Zhang, an... https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed Thu, 29 Jan 2026 16:24:38 +0000 Cheryl Arcibal Cheryl Arcibal A Hong Kong office unit at Admiralty Centre has changed hands for HK$292.17 million (US$37.46 million), making it the most expensive commercial property transaction registered on Tuesday, according to official records, in a deal that adds to tentative signs of stabilisation in the city’s battered real estate market. The office space, located in Tower 1 of the Admiralty Centre within the city’s core business district, was acquired by Luck Ring Development, Land Registry records showed. The unit... https://www.scmp.com/business/article/3341576/hong-kong-logs-us37-million-admiralty-office-deal-amid-tentative-market-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3341576/hong-kong-logs-us37-million-admiralty-office-deal-amid-tentative-market-recovery?utm_source=rss_feed Wed, 28 Jan 2026 12:08:57 +0000 Aileen Chuang Aileen Chuang The Hong Kong Investment Corporation (HKIC) is eyeing investments in fintech, aerospace and artificial intelligence, tapping the city’s strengths and a wave of incoming talent and enterprises as geopolitical shifts create new opportunities, according to its CEO. The city’s wholly owned investment vehicle, which manages HK$62 billion (US$8 billion) in funds, would look at these new sectors in addition to its other focus areas, “playing to Hong Kong’s advantages in the context of the global... https://www.scmp.com/business/banking-finance/article/3341515/hong-kongs-us8-billion-wealth-fund-eyes-fintech-aerospace-and-ai-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341515/hong-kongs-us8-billion-wealth-fund-eyes-fintech-aerospace-and-ai-growth?utm_source=rss_feed Wed, 28 Jan 2026 06:48:09 +0000 Cheryl Arcibal Cheryl Arcibal Anta Sports, China’s largest sportswear firm, is acquiring 29 per cent of German brand Puma from Groupe Artemis of the Pinault family, one of France’s wealthiest, for €1.5 billion (US$1.8 billion). The Fujian-headquartered group said on Tuesday the deal would “accelerate” its multi-brand globalisation strategy, adding it had no plans to pursue a full takeover or make an offer for Puma Hong Kong. The deal is expected to be completed by the end of the year. “This acquisition makes Anta Sports the... https://www.scmp.com/business/article/3341333/chinas-anta-snags-puma-frances-pinault-family-us18-billion-deal?utm_source=rss_feed https://www.scmp.com/business/article/3341333/chinas-anta-snags-puma-frances-pinault-family-us18-billion-deal?utm_source=rss_feed Tue, 27 Jan 2026 03:47:36 +0000 Peggy Ye Peggy Ye China’s biggest mining company Zijin Mining Group is acquiring Canadian miner Allied Gold in an all-cash deal valued at about C$5.5 billion (US$4 billion), the first major cross-border transaction after Beijing and Ottawa recently reset ties after years of diplomatic strain. Zijin Gold International, a Hong Kong-listed subsidiary of Zijin Mining, agreed to buy all issued and outstanding shares of Allied Gold for C$44 per share, according to a joint announcement on Monday. Zijin Gold’s shares... https://www.scmp.com/business/article/3341330/chinas-largest-gold-miner-zijin-buys-canadas-allied-gold-us4-billion-ties-thaw?utm_source=rss_feed https://www.scmp.com/business/article/3341330/chinas-largest-gold-miner-zijin-buys-canadas-allied-gold-us4-billion-ties-thaw?utm_source=rss_feed Tue, 27 Jan 2026 03:37:54 +0000 Ben Jiang Ben Jiang Frontier research lab MiroMind, a subsidiary of the China-founded multinational firm Shanda Group, has asked some of its staff in Shanghai to relocate to Singapore, according to people with knowledge of the matter, raising comparisons to artificial intelligence start-up Manus’ pull-out from China last year. Those actions came amid Sunday’s reorganisation announcement by Shanda and Singapore-based MiroMind, which said its research on artificial general intelligence (AGI) and fundamental... https://www.scmp.com/tech/tech-trends/article/3340721/china-founded-shandas-ai-lab-boosts-singapore-operation-pulling-research-china?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3340721/china-founded-shandas-ai-lab-boosts-singapore-operation-pulling-research-china?utm_source=rss_feed Wed, 21 Jan 2026 13:30:09 +0000 Reuters Reuters Netflix switched to an all-cash offer for Warner Bros Discovery’s studio and streaming businesses with unanimous support from the HBO owner’s board ‍without increasing the US$82.7 billion price, in an effort to close the door on rival Paramount’s efforts. Both Netflix and studio operator Paramount covet Warner Bros for its leading film and television studios, extensive content library and major franchises such as Game of Thrones, Harry Potter and DC Comics’ superheroes Batman and... https://www.scmp.com/news/world/united-states-canada/article/3340596/netflix-wins-warner-bros-board-support-over-paramount-amended-all-cash-offer?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3340596/netflix-wins-warner-bros-board-support-over-paramount-amended-all-cash-offer?utm_source=rss_feed Tue, 20 Jan 2026 13:07:48 +0000 Cherry Liu Cherry Liu Legendary couturier Valentino Garavani, founder of the Valentino fashion house, died yesterday in Rome. He was 93. Those closest to the designer included his long-time friend and business partner Giancarlo Giammetti, also known as GG. Throughout the 1960s until the early 70s, the duo were in a romantic relationship, and while it didn’t last, they remained inseparable for decades. Here’s what to know about the gentleman who was always by Valentino’s side. He co-founded Valentino Born in Rome in... https://www.scmp.com/magazines/style/people/icons-influencers/article/3340503/meet-giancarlo-giammetti-long-time-partner-valentino-garavani-who-died-aged-93?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3340503/meet-giancarlo-giammetti-long-time-partner-valentino-garavani-who-died-aged-93?utm_source=rss_feed Tue, 20 Jan 2026 04:33:25 +0000 Cheryl Arcibal Cheryl Arcibal CK Infrastructure Holdings is poised to complete the disposal of UK Rails (Eversholt Rail) this month following London’s approval of the deal, according to the company, which is part of Hong Kong tycoon Li Ka-shing’s business empire. The train leasing company is owned by a consortium of the group’s companies: CK Infrastructure, which holds 65 per cent, along with CK Asset Holdings (20 per cent), Power Asset Holdings (10 per cent) and CK Hutchison Holdings (5 per cent), according to the... https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed Wed, 14 Jan 2026 11:00:11 +0000 Cheryl Arcibal Cheryl Arcibal Surging mainland Chinese investment in Hong Kong’s commercial real estate sector has helped set the stage for a “measured recovery” in 2026, according to Colliers. Investment from the mainland rose to the highest level in five years in the last quarter of 2025, and deal value in 2026 was set to increase by 10 per cent, Colliers said. In the luxury residential segment, mainland capital accounted for about 80 per cent of transactions exceeding HK$100 million on The Peak and in Southern district,... https://www.scmp.com/business/article/3339783/mainland-chinese-money-drive-10-rise-hong-kong-commercial-property-deals-colliers?utm_source=rss_feed https://www.scmp.com/business/article/3339783/mainland-chinese-money-drive-10-rise-hong-kong-commercial-property-deals-colliers?utm_source=rss_feed Wed, 14 Jan 2026 03:00:14 +0000 Bloomberg Bloomberg Diageo is considering options for its Chinese assets, including potential divestments, people familiar with the matter said, as the maker of Guinness and Johnnie Walker seeks to streamline its portfolio. Diageo is working with Goldman Sachs and UBS Group to review its operations, which include a more than 63 per cent stake in Shanghai-listed Sichuan Swellfun, the people said, asking not to be identified because the information was not public. The advisers have been sounding out initial interest... https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed Tue, 13 Jan 2026 09:48:27 +0000 Ben Jiang,Coco Feng Ben Jiang,Coco Feng China’s review of Meta Platforms’ acquisition of artificial intelligence agent start-up Manus signals Beijing’s intent to more tightly police foreign involvement in sensitive technologies developed by Chinese entrepreneurs, as more founders move operations overseas to sidestep geopolitical scrutiny, analysts say. The Ministry of Commerce said on Thursday that it would work with other Chinese regulators to assess whether the acquisition complied with the country’s export controls and technology... https://www.scmp.com/tech/big-tech/article/3339335/review-meta-manus-deal-underlines-chinas-tightening-grip-ai-exports?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3339335/review-meta-manus-deal-underlines-chinas-tightening-grip-ai-exports?utm_source=rss_feed Sat, 10 Jan 2026 04:00:24 +0000 Enoch Yiu,Aileen Chuang Enoch Yiu,Aileen Chuang Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC Holdings for acquiring the remaining 37 per cent it does not own. “I invested in Hang Seng Bank for the long term because of... https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed Sat, 10 Jan 2026 02:00:10 +0000 Daniel Ren Daniel Ren Beijing has given the green light to an asset-restructuring deal involving the country’s largest oil refiner and a leading distributor of jet fuel, continuing efforts to streamline operations of major state-owned juggernauts. China Petroleum and Chemical Corp, better known as Sinopec, and China National Aviation Fuel Group (CNAF) will conduct a revamp of their assets after receiving the nod from the State Council, the State-owned Assets Supervision and Administration Commission (SASAC) said in a... https://www.scmp.com/business/banking-finance/article/3339225/chinas-oil-giants-sinopec-cnaf-undergo-consolidation-creating-energy-powerhouse?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339225/chinas-oil-giants-sinopec-cnaf-undergo-consolidation-creating-energy-powerhouse?utm_source=rss_feed Thu, 08 Jan 2026 13:34:35 +0000 Aileen Chuang,Enoch Yiu,Themis Qi Aileen Chuang,Enoch Yiu,Themis Qi Hong Kong’s banking sector began a new chapter on Thursday as Hang Seng Bank shareholders approved HSBC Holdings’ bid to take the lender private in a deal worth nearly US$14 billion. The proposal, under which HSBC offered shareholders HK$155 a share – 30 per cent higher than Hang Seng Bank’s HK$119 closing price on the last trading day before the announcement on October 9, received strong shareholder support, with 85.75 per cent of the votes, according to Hang Seng Bank. It surpassed the... https://www.scmp.com/business/banking-finance/article/3339044/hang-seng-bank-shareholders-set-back-hsbcs-privatisation-plan-hong-kong-lender?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339044/hang-seng-bank-shareholders-set-back-hsbcs-privatisation-plan-hong-kong-lender?utm_source=rss_feed Thu, 08 Jan 2026 02:00:11 +0000 Reuters Reuters Warner Bros Discovery’s board has unanimously turned down Paramount Skydance’s (PSKY) latest attempt to acquire the studio, saying its revised US$108.4 billion ‌hostile bid amounted to a risky leveraged buyout that investors should reject. In a letter to shareholders on Wednesday, Warner Bros’ board said Paramount’s offer hinges on “an extraordinary amount ‍of debt financing” that heightens the risk of closing. It reaffirmed its commitment to streaming giant Netflix’s US$82.7 billion deal for... https://www.scmp.com/news/world/united-states-canada/article/3339085/warner-bros-rejects-paramounts-updated-us108-million-bid-prefers-netflix-deal?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3339085/warner-bros-rejects-paramounts-updated-us108-million-bid-prefers-netflix-deal?utm_source=rss_feed Wed, 07 Jan 2026 12:53:25 +0000 Ben Jiang Ben Jiang On the last day of 2025, DeepSeek published a new technical paper, with founder and CEO Liang Wenfeng among the 19 co-authors, about “manifold-constrained hyper-connections” – a general framework for training artificial intelligence systems at scale, which suggested “promising directions for the evolution of foundational models”. That release was a fitting reminder to the world, especially during the peak of the Christmas holiday season, about Chinese AI companies’ sharpened focus on innovation... https://www.scmp.com/tech/tech-war/article/3338528/tech-war-china-takes-confident-strides-develop-more-ai-innovation-2026?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3338528/tech-war-china-takes-confident-strides-develop-more-ai-innovation-2026?utm_source=rss_feed Sat, 03 Jan 2026 03:00:22 +0000 Xinmei Shen Xinmei Shen Hua Hong Semiconductor, China’s No 2 contract chipmaker, on Wednesday announced the acquisition of its sister foundry in Shanghai, days after market leader Semiconductor Manufacturing International Corp (SMIC) said it would take full control of a subsidiary. Those big-ticket transactions – 8.27 billion yuan (US$1.2 billion) for Hua Hong and 40.6 billion yuan for SMIC – signalled a fresh round of consolidation in the country’s semiconductor industry, as Beijing’s tech self-sufficiency drive... https://www.scmp.com/tech/tech-trends/article/3338551/chinas-top-contract-chipmakers-pursue-acquisitions-amid-beijings-self-sufficiency-drive?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3338551/chinas-top-contract-chipmakers-pursue-acquisitions-amid-beijings-self-sufficiency-drive?utm_source=rss_feed Fri, 02 Jan 2026 13:00:19 +0000 Biman Mukherji Biman Mukherji Netflix’s proposed US$72 billion takeover of Warner Bros. Discovery is stirring concern across India’s entertainment sector, with local players warning that the deal could accelerate a shift away from cinemas and intensify competition in the streaming space. The deal – one of the biggest in the global entertainment industry in years – is expected to strengthen Netflix’s position at the top of the global streaming market by giving it a more extensive content library, including titles from the... https://www.scmp.com/week-asia/economics/article/3338556/indias-entertainment-sector-eyes-netflix-warner-deal-fears-impact?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3338556/indias-entertainment-sector-eyes-netflix-warner-deal-fears-impact?utm_source=rss_feed Fri, 02 Jan 2026 12:31:33 +0000 Aileen Chuang Aileen Chuang China’s mergers and acquisitions (M&A) market is poised for another year of growth as investors regain confidence in the country’s assets and long-term growth prospects, and look beyond geopolitical and economic headwinds, according to industry experts. Investor optimism in 2026 would build on a deeper understanding of risks associated with regulatory restrictions, improved market conditions and success stories in the past year, said Kevin Yu Zhe, Shanghai-based partner at Zhong Lun Law... https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed Fri, 02 Jan 2026 00:30:09 +0000 Danielle Popov Danielle Popov Mercedes-Benz on Thursday said it completed the acquisition of a 3 per cent stake, worth 1.34 billion yuan (US$191 million), in motorcycle maker-turned-autonomous driving systems developer Chongqing Qianli Technology, three months after the deal was first announced. The transaction involved Mercedes-Benz Digital Technology, the German carmaker’s tech unit, and Shanghai-listed Lifan Holdings, which transferred 135.6 million shares of Qianli at 9.87 yuan per share. Before the transaction, Lifan... https://www.scmp.com/business/china-business/article/3337719/mercedes-benz-acquires-stake-chinese-autonomous-driving-developer-us191-million?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337719/mercedes-benz-acquires-stake-chinese-autonomous-driving-developer-us191-million?utm_source=rss_feed Thu, 25 Dec 2025 13:00:08 +0000 Cao Li Cao Li With its signature fan-shaped wall of lipsticks displayed at the entrance, the Hong Kong store of Mao Geping Cosmetics at the Harbour City shopping complex in Tsim Sha Tsui appeared quiet on a recent weekday night. That underscored a sluggish state of affairs at Mao Geping, about two months after opening its first overseas location in the city, and the broader challenges faced by Chinese beauty – dubbed C-beauty – brands seeking to expand sales outside the mainland. The cosmetics firm was named... https://www.scmp.com/business/china-business/article/3337519/c-beauty-brands-find-retail-expansion-outside-china-slow-slog?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337519/c-beauty-brands-find-retail-expansion-outside-china-slow-slog?utm_source=rss_feed Wed, 24 Dec 2025 03:30:11 +0000 Julie Zhang Julie Zhang Three in four multinational corporations (MNCs) operating in mainland China have maintained or increased their investments in 2025, according to a recent KPMG survey, despite Washington stepping up efforts to decouple from Beijing and its allies following suit. The survey published on Monday, polling 137 senior executives from global companies operating in the world’s second-largest economy between June and September, revealed that only 1 per cent reported preparing to exit the market. About 20... https://www.scmp.com/business/banking-finance/article/3337381/global-firms-turn-ma-evs-and-biotech-deepen-china-investment-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337381/global-firms-turn-ma-evs-and-biotech-deepen-china-investment-kpmg?utm_source=rss_feed Tue, 23 Dec 2025 01:30:22 +0000 Agence France-Presse Agence France-Presse Oracle tech tycoon Larry Ellison is offering a US$40.4 billion personal guarantee to back Paramount’s hostile bid for Warner Bros Discovery, deepening a bidding war with Netflix, a statement said on Monday. The amended proposal, worth a total US$108 billion from the company run by Ellison’s son David, addresses concerns raised by Warner Bros’ board, which saw the Paramount bid as too risky and asked shareholders to accept a competing buyout offer from Netflix. Netflix shocked the industry on... https://www.scmp.com/news/world/united-states-canada/article/3337388/paramount-vs-netflix-ellison-guarantees-us40-billion-sons-warner-bros-bid?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3337388/paramount-vs-netflix-ellison-guarantees-us40-billion-sons-warner-bros-bid?utm_source=rss_feed Mon, 22 Dec 2025 16:00:10 +0000 Julie Zhang Julie Zhang China International Capital Corporation (CICC) has unveiled details of its merger with two smaller state-owned rivals that will create an entity with combined assets of more than 900 billion yuan (US$127.8 billion). The Beijing-based investment bank will issue some 3.1 billion new A shares at 36.91 yuan to acquire all outstanding shares in Dongxing Securities and Cinda Securities to facilitate the merger, according to a filing to the Hong Kong stock exchange on Wednesday. Shares of CICC rose 3.7... https://www.scmp.com/business/banking-finance/article/3336915/chinese-brokerage-cicc-announces-share-swap-merger-details-dongxing-and-cinda?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336915/chinese-brokerage-cicc-announces-share-swap-merger-details-dongxing-and-cinda?utm_source=rss_feed Thu, 18 Dec 2025 09:30:14 +0000 Agence France-Presse Agence France-Presse Warner Bros Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to thwart plans by streaming giant Netflix to acquire the Hollywood giant and owner of CNN. The Warner Bros board said it found Paramount’s offer “inferior” to the merger agreement with Netflix. It added that the Paramount bid “once again fails to address key concerns that we have consistently communicated … throughout our extensive engagement and review of their six previous proposals”. “We are... https://www.scmp.com/news/world/united-states-canada/article/3336819/warner-bros-rejects-paramounts-inferior-us108-billion-bid-backs-netflix-deal?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3336819/warner-bros-rejects-paramounts-inferior-us108-billion-bid-backs-netflix-deal?utm_source=rss_feed Wed, 17 Dec 2025 14:13:23 +0000 Bloomberg Bloomberg CMOC Group, one of China’s biggest miners, extended its push into precious metals with a US$1 billion deal to buy the Brazilian operations of Equinox Gold. It will take full ownership of two Equinox entities – Leagold LatAm Holdings and Luna Gold – that control several mines or deposits in the South American nation. Equinox will receive US$900 million in cash, plus a contingent payment of as much as US$115 million one year after the deal closes, CMOC said in an exchange filing on Monday. The... https://www.scmp.com/business/commodities/article/3336437/chinese-mining-giant-cmoc-pays-us1-billion-brazilian-gold-mines-8-tons-output?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3336437/chinese-mining-giant-cmoc-pays-us1-billion-brazilian-gold-mines-8-tons-output?utm_source=rss_feed Mon, 15 Dec 2025 04:55:15 +0000 Themis Qi Themis Qi HSBC Holdings will host two meetings early next month on its US$14 billion buyout proposal to privatise subsidiary Hang Seng Bank. The British banking giant announced on Monday the details of the scheme document regarding the privatisation of Hang Seng Bank at HK$155 per share proposed on October 9. The court meeting and the general meeting of Hang Seng Bank shareholders will be held sequentially from 10.30am on January 8 in Hong Kong. The results of the shareholder votes at both meetings will... https://www.scmp.com/business/banking-finance/article/3336429/hang-seng-bank-shareholders-vote-hsbc-buyout-proposal-january-8?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336429/hang-seng-bank-shareholders-vote-hsbc-buyout-proposal-january-8?utm_source=rss_feed Mon, 15 Dec 2025 03:44:42 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter. “Rosewood has delivered exceptional results in recent years and is one of the family’s most cherished luxury hotel brands,” a source said. The group’s properties were operating as usual, with strategic investments in nearly 30... https://www.scmp.com/business/article/3336121/rosewood-hotel-brand-hong-kongs-chow-tai-fook-not-sale-sources-say?utm_source=rss_feed https://www.scmp.com/business/article/3336121/rosewood-hotel-brand-hong-kongs-chow-tai-fook-not-sale-sources-say?utm_source=rss_feed Fri, 12 Dec 2025 01:41:35 +0000 Cheryl Arcibal Cheryl Arcibal Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion). Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units, as well as Latrobe Valley Power (LVP) and its subsidiaries, from Pioneer Sail Holdings, which is owned by CTFE and Pioneer Sail Singapore, according to Sembcorp’s filing with the Singapore stock... https://www.scmp.com/business/article/3336115/chow-tai-fook-sells-australian-energy-assets-singapore-group-us43-billion?utm_source=rss_feed https://www.scmp.com/business/article/3336115/chow-tai-fook-sells-australian-energy-assets-singapore-group-us43-billion?utm_source=rss_feed Thu, 11 Dec 2025 14:00:13 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s Hang Seng University has acquired office units in a commercial building in the New Territories for HK$90 million (US$11.6 million), making it the latest school to purchase real estate amid a government push to turn the city into a global education hub. The acquisition covers 16 office units measuring 19,139 sq ft on the 11th floor of Metropole Square in Sha Tin, together with four car parking spaces. The seller was listed company Alco Holdings, which manufactures and sells consumer... https://www.scmp.com/business/article/3335975/hong-kongs-hang-seng-university-joins-property-rush-us116-million-office-deal?utm_source=rss_feed https://www.scmp.com/business/article/3335975/hong-kongs-hang-seng-university-joins-property-rush-us116-million-office-deal?utm_source=rss_feed Thu, 11 Dec 2025 01:35:33 +0000 Ann Cao Ann Cao Chinese supercomputer maker Sugon and chip designer Hygon Information Technology have called off a planned mega-merger that had been under discussion for months, in a surprise move that could complicate the country’s tech self-sufficiency efforts in the semiconductor and high-performance computing sectors. The two Shanghai-listed companies late on Tuesday said they cancelled merger talks because “the market environment has changed significantly since the initial planning stages of this... https://www.scmp.com/tech/big-tech/article/3335930/chinese-supercomputer-maker-sugon-and-chip-developer-hygon-call-merger-plans?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3335930/chinese-supercomputer-maker-sugon-and-chip-developer-hygon-call-merger-plans?utm_source=rss_feed Wed, 10 Dec 2025 13:00:16 +0000 Cheryl Arcibal Cheryl Arcibal McDonald’s sold a property in Kowloon for HK$72.4 million (US$9.3 million), as the Chicago-based fast-food giant reached HK$333 million in proceeds at the halfway point in a campaign to dispose of eight Hong Kong retail properties. A company called Mega Champ bought the property in the Tai Fong Building of Cosmopolitan Estate in Tai Kok Tsui in a transaction dated November 26, according to Land Registry records. The deal, which was registered on Friday, comprised two ground-floor shops as well... https://www.scmp.com/business/article/3335642/mcdonalds-cooks-fat-profit-us93-million-hong-kong-property-sale?utm_source=rss_feed https://www.scmp.com/business/article/3335642/mcdonalds-cooks-fat-profit-us93-million-hong-kong-property-sale?utm_source=rss_feed Tue, 09 Dec 2025 00:30:09 +0000 Bloomberg Bloomberg Chinese sports apparel company Anta Sports Products is among firms exploring a potential takeover of Puma, according to people familiar with the matter. Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, said the people who asked not to be identified because the information was private. The company might team up with a private equity firm if it decided to move forward with an offer, some of the people said. Other potential bidders could include rival Chinese... https://www.scmp.com/business/companies/article/3334319/chinas-anta-considers-bid-german-sportswear-rival-puma-amid-62-stock-slump-sources?utm_source=rss_feed https://www.scmp.com/business/companies/article/3334319/chinas-anta-considers-bid-german-sportswear-rival-puma-amid-62-stock-slump-sources?utm_source=rss_feed Thu, 27 Nov 2025 05:51:13 +0000