Business & Economy

US Lawmakers Concerned About Ex-IMF Director's 'Golden Parachute'

The former head of the International Monetary Fund accused of sexually assaulting a New York hotel maid will receive a $250,000 severance payment -- paid in part courtesy of the American taxpayer -- unless U.S. lawmakers can stop the "golden parac...

EU moves to ban plastic bags

Daily Express 21.05.2011
EU moves to ban plastic bags

THE EU was under fire last night for seeking a ban on plastic shopping bags to fight pollution.


China now world's biggest buyer of gold

Carolyn Cui and Rhiannon Hoyle Yahoo! Finance 21.05.2011
China now world's biggest buyer of gold

Chinese investors are snapping up gold bars and coins, buying more than ever before in the first quarter of 2011 and overtaking Indian buyers as the world's biggest purchasers of the metal.

HSBC poised to be No2 yuan bank

Mandy Lo The Standard 20.05.2011
HSBC poised to be No2 yuan bank

Hongkong and Shanghai Banking Corporation will very likely become the territory's second yuan clearing bank soon, HSBC Asia Pacific chief executive Peter Wong Tung-sing said yesterday.


Chinese Companies Abandoning U.S. Listings

Bei Hu Bloomberg.com 18.05.2011
Chinese Companies Abandoning U.S. Listings

Abax Global Capital, a Morgan Stanley-backed manager of $900 million of hedge and private equity funds, is seeking to profit from Chinese companies abandoning U.S. listings for higher valuations in Hong Kong.

U.S. sues Starbucks for firing dwarf from barista job

The U.S. government is suing Starbucks Coffee Company for firing a barista in El Paso because she is a dwarf.


HSBC to Hire More Than 2000 in Singapore, China

CHESTER YUNG The Wall Street Journal 17.05.2011
HSBC to Hire More Than 2000 in Singapore, China

HSBC Holdings PLC said Tuesday it plans to hire at least 2,000 people in mainland China and Singapore over the next five years, as the U.K. banking giant continues its push to capture wealth in the Asia Pacific region, the fastest-growing part of ...

South Korea, Singapore and Hong Kong lead world in mobile banking

Asians are more likely than people elsewhere in the world to use their mobile phones to do their banking and to shop online, according to a global survey released Monday.


Asian millionaires wealth to triple by 2015: Julius Baer

Julius Baer Group , the 121-year-old Swiss private bank, said assets held by rich Asians will more than triple to $16 trillion by 2015 as the region’s fastest-growing major economies create more millionaires.

Yum!, Wal-Mart Get Acquisitive In Hong Kong, China

Yum! Brands said Friday it is working with Hong Kong-traded restaurant chain Little Sheep Group on a privatization arrangement.


Japan sets up compensation plan for plant operator

Japan's government agreed on a plan Friday to ensure that the operator of crippled Fukushima Dai-ichi nuclear plant can meet the massive costs of compensating people affected by the crisis.

KPMG appoints Michael Andrew as global chairman based in HK

Kelvin Soh, Chris Lewis Reuters 13.05.2011
KPMG appoints Michael Andrew as global chairman based in HK

Accounting giant KPMG has appointed Michael Andrew as global chairman to be based in Hong Kong, the firm said on Thursday.


Singapore to become bigger threat to Hong Kong in fund management

Singapore's fund management industry is fast catching up its close rival Hong Kong, and analysts said its growth could even surpass the Chinese territory in the years to come.

First ever Palestinian bonds sold

An investment firm has sold the first ever bonds from a Palestinian borrower.


Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

Joe Weisenthal and Gregory White Business Insider 11.05.2011
Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

The Irish government plans to institute a tax on private pensions to drive jobs growth, according to its jobs program strategy, delivered today.

Apple usurps Google as world's most valuable brand

Apple has overtaken Google as the world's most valuable brand, ending a four-year reign by the Internet search leader, according to a new study by global brands agency Millward Brown.


CA May Hire Internet Sales Tax Police To Monitor Online Shopping

With California deep in debt, a controversial plan has emerged that calls for private vendors to monitor what you buy on the Internet.

Apple's Chinese workers treated 'inhumanely, like machines'

Gethin Chamberlain The Guardian 02.05.2011
Apple's Chinese workers treated 'inhumanely, like machines'

An investigation into the conditions of Chinese workers has revealed the shocking human cost of producing the must-have Apple iPhones and iPads that are now ubiquitous in the west.


Small lizard threatens Texas, New Mexico oil drilling

SUSAN MONTOYA BRYAN BusinessWeek 02.05.2011
Small lizard threatens Texas, New Mexico oil drilling

Frustration is swelling among residents and lawmakers in one of the most productive oil and natural gas basins in the nation, and it's all because federal wildlife managers have proposed endangered species protections for a small lizard.

Thousands March in Hong Kong on Labor Day for Pay, Benefits

Thousands of protesters marched in Hong Kong, demanding legislation to standardize work hours, overtime pay and an annual review of statutory minimum wage.



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