New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Electrochromic Glass and Devices Industry" -.
On this day, 244 years ago, all but one of the 13 United Colonies officially adopted the Declaration of Independence, thus declaring their collective right to govern without England calling the shots. If you have spare cash that won't be needed to pay bills or cover emergencies, then the following blend of growth and income stocks should be perfect to help you secure your financial freedom. The first top stock that'll put you on the path toward financial independence is e-commerce giant Amazon (NASDAQ: AMZN).
New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Electrodeposited Copper Foils Industry" -.
On a rainy Saturday at the end of May outside the Wan Chai subway station in Hong Kong, HSBC's Asia-Pacific chief executive Peter Wong Tung-shun added his name to a petition in support of the Chinese legislature's plan to enact a national security law for the city.The photograph of Wong, wearing a face mask and clad in his weekend casuals, was shared on the bank's account on China's popular Weibo social media network, setting off an uproar in Washington and London. US Secretary of State Mike Pompeo chided the bank for its "corporate kowtow" to Beijing, while HSBC's 12th largest shareholder Aviva Investors Trust Services said it's "uneasy" about the bank's action.The furore highlights the tightrope that multinational companies must walk in an increasingly polarised world when it comes to China, even for a century-old bank that traces its roots to Hong Kong and Shanghai during British colonial days. It's particularly alarming for HSBC, operating 170 outlets in more than 50 cities \- the biggest overseas lender - in mainland China, which claims Asia as the biggest regional contributor to its operating income."That interconnectivity of East and West is a huge part of their franchise strength," said Fahed Kunwar, who recommends investors "sell" the bank, at the stock brokerage Redburn (Europe). "Really, the issues right now are very, very threatening to them. They're kind of caught in a geopolitical tug of war between the US and China."Peter Wong Tung-shun, HSBC's Asia-Pacific CEO, signs a petition in support of the national security law. Photo: SCMP Handout alt=Peter Wong Tung-shun, HSBC's Asia-Pacific CEO, signs a petition in support of the national security law. Photo: SCMP HandoutThe run-up to HSBC publicly supporting the law showed the pressure Beijing can exert " both directly or through surrogates " on Western companies seeking the right to do business in the world's second-biggest economy and the sometimes uncomfortably close intermingling of politics and business in the mainland.Wong, who has run the bank's Asia-Pacific business since 2010, is one of the 124 members of Hong Kong's delegation to the Chinese People's Political Consultative Conference (CPPCC), an advisory body to the Chinese legislature that includes Communist Party cadres and non-members, business leaders, the press, religious leaders and representatives from Hong Kong and Macau.On May 22, the day after the Chinese legislature said it would introduce a security law to quell attempts at secession and subversion in the restive city, more than 80 members of the Hong Kong delegation gathered in the Chinese capital. Wong, a CPPCC delegate since 2018, did not travel to Beijing, adhering with travel restrictions during the coronavirus pandemic.Led by the city's former Chief Secretary Henry Tang Ying-yen, they declared at a press conference on state broadcaster CCTV that "all the CPPCC members in Hong Kong firmly endorse and support" a draft resolution by the National People's Congress, China's top legislative body, for the security law.Vandals set fire to an HSBC branch in Wan Chai on January 1 during an anti-government protest organised by the Civil Human Rights Front. Photo: Dickson Lee alt=Vandals set fire to an HSBC branch in Wan Chai on January 1 during an anti-government protest organised by the Civil Human Rights Front. Photo: Dickson LeeHong Kong's government " led by Chief Executive Carrie Lam Cheng Yuet-ngor " put on a full-court press for the city's biggest businesses to publicly come out in favour of the law, and it soon became clear that Wong, as a member of the top political advisory body to Beijing, had to publicly offer his support, according to a person familiar with the bank's thinking.That left HSBC with almost no choice as one of three lenders authorised to issue currency notes in the city, but to come out in favour of the measure, the person said.Wong, who is not a Communist Party member, soon learned that all members " even those who had not attended " were expected to publicly express their support for the legislation, the person said.It was unclear if the missive came directly from Beijing's liaison office in Hong Kong or through the committee itself, but the office wanted CPPCC delegates to provide evidence that they had signed the petition, the person said.Peter Wong showing off the new HK$1,000 bank note issued by HSBC on December 5, 2018. Photo: HSBC alt=Peter Wong showing off the new HK$1,000 bank note issued by HSBC on December 5, 2018. Photo: HSBCLike many of its banking rivals, HSBC has tried to avoid political battles in the past. The first two acronyms of the bank's name and brand reflect its root in Hong Kong and Shanghai, established in the two cities 155 years ago in March.In those days, Wong would have been known as a taipan, a colonial-era term for the most prominent captains of industry. Still, bank executives often lived by the principle that the lender considered itself a "guest" in whichever country it operated in and would act as such. US warning on sale of sensitive technology a signal of red tape aheadThe shifting winds recently, however, made it increasingly difficult for HSBC to avoid being viewed as taking a side in political matters, particularly as a row intensifies between Beijing and Washington DC, analysts and company insiders said.Even as the national security law was adopted this week, the US Congress passed legislation that would impose sanctions on foreign banks that engage in "significant transactions" with officials deemed to have impeded Hong Kong's autonomy, including making it more difficult for those banks to engage in foreign exchange transactions involving US dollars. US President Donald Trump has not said whether he will sign the bill into law."HSBC has built an enviable history of success at the centre of this nodal structure," he said. "With changes in the status quo increasingly possible, HSBC has to ask itself existential questions around its global footprint and positioning."The success of the bank continues to be tied to Asia decades after it moved its headquarters to London in 1993.Asia " with Hong Kong at the centre " is now the lender's biggest profit driver following the evolution of the company's strategy since 2010. The bank will become even more dependent on the region under chief executive Noel Quinn's latest strategy pivot. China expands support for Hong Kong as finance hub amid security law uneaseOn Friday, HSBC said it had hired about 100 wealth managers for a new digital wealth planning and insurance service through its mainland life insurance joint venture and would start a new fintech company to support its China businesses, its latest new investments in the mainland.The threat became clearer as Beijing's political surrogates called out the bank for failing to fall in line in the national security controversy, while Chinese media suggested its franchise in China could be in jeopardy.On May 29, Leung Chun-ying, the former Hong Kong Chief Executive and vice-chairman of the CPPCC, blasted HSBC on his Facebook page for its silence on the security law more than a week after it was announced."Neither China nor Hong Kong owes HSBC," Leung said in a fiery post. "HSBC's business in China can be replaced by banking in China or other countries overnight."He called on the Hong Kong government, businesses in the mainland and the city and members of the CPPCC, to "protect" themselves and not be held hostage like Huawei Technologies Company and to let HSBC "know which side their bread is buttered." It was the latest in a flood of online criticism HSBC has endured since it was revealed last year that the bank had provided information to US prosecutors as part of an inquiry into Huawei, which later led to the arrest of Meng Wanzhou, the chief financial officer of the telecommunications company and its founder's daughter.Hong Kong national security law official English version:The bank went on a charm offensive in Beijing last summer, quietly telling Chinese officials at the time that it had no choice but to comply because it had an obligation under US financial regulations to do so, according to bankers familiar with the matter.That campaign did not stop the online vitriol. On June 19, the bank pushed back at what it said were "groundless" rumours about the future of its mainland China business, saying in a social media post that China remained "an important strategic market" for the lender and it would continue to invest in its mainland business.To say there was a lot riding on Wong's signature would not be an understatement.Dressed in a pink striped polo shirt and sand-coloured trousers with an umbrella in his hand, Wong, with a photographer in tow, signed a petition in support of the national security law outside the Wan Chai subway station on May 30.An arsonist setting one of HSBC's iconic lion statues on fire after an anti-government protest in Hong Kong on January 1, 2020. Photo: AFP alt=An arsonist setting one of HSBC's iconic lion statues on fire after an anti-government protest in Hong Kong on January 1, 2020. Photo: AFPThe petition drive was organised by the United Front Supporting National Security Legislation, a Beijing-loyalist group, and reportedly includes signatures from nearly 3 million people. The city's chief executive Lam was photographed when she added her signature two days earlier.The photograph of Wong's signing, complete with a close-up of his name in long hand, was distributed on June 3 on HSBC's account on Weibo, the dominant social media network in mainland China with more than 430 million monthly active users in 2018, along with a carefully worded statement in Chinese."We respect and support laws and regulations that will enable Hong Kong to recover and rebuild the economy and, at the same time, maintain the principle of 'one country, two systems'," HSBC said on Weibo, reiterating that its stance is consistent with its membership in the Hong Kong Association of Banks (HKAB), enunciated on May 26.Peter Wong officiating the opening of HSBC's Beijing sub-branch on April 28, 2005. Photo: SCMP alt=Peter Wong officiating the opening of HSBC's Beijing sub-branch on April 28, 2005. Photo: SCMPThe writing on the wall became clear for HSBC when the city's government " including all of its agencies " pressed major employers in Hong Kong to publicly support the national security bill, the person said.The proof in the pudding will be "what [the law] says, how it is implemented and how it is administered and applied," the executive said, ahead of the text of the law being made public.Since the law was announced, Jardine Matheson Group, the owner of the Mandarin Oriental hotel, Swire Pacific, the parent of the city's de facto flagship carrier, and Li Ka-shing, one of Asia's richest men, all made public statements of support, along with the city's major developers.In a June 16 internal memorandum, Greg Guyett, HSBC's co-head of global banking and markets in London offered his colleagues advice on what he had been telling clients: Hong Kong has been a "critical bridge" between East and West "through calm and through difficult geopolitical decisions".Despite the hubbub in political circles, investors have said little publicly about the company's decision.Of more than two dozen of HSBC's biggest investors contacted by the Post, nearly all declined to comment about the decision, saying either they did not discuss individual holdings or they bought its shares as part of an index of stocks.I'm afraid @HSBC & @StanChart banks should hang their heads in shame. The decisions to back illegal actions of Chinese Communist Party in Hong Kong is a direct challenge to democracy & rules-based int'nal order. They're testing the resolve of UK govt. Will @DominicRaab intervene? https://t.co/qgp9z6jBDY" Stephen Kinnock (@SKinnock) June 5, 2020Aviva Investors Fund Services, which owned 0.4 per cent of HSBC as of May 28, was one of the few to speak out, questioning HSBC's decision to support the law without knowing how it would be applied.Asset manager Federated Hermes also said this week it was engaging with the bank on behalf of institutional investors to "fully understand" the bank's position.The question for HSBC may come down to whether customers and investors decide to vote with their feet.If HSBC wants to continue doing business in the West, it will be scrutinised in accordance with Western values, particularly when it comes to human rights and democracy, said Prem Sikka, the chairman of accounting and finance at the University of Sheffield's Management School."They have decided, in some ways, that Western sentiments matter less and their profits matter more," said Sikka, adding that he is considering moving his current account from HSBC after decades with the bank.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
Hong Kong banks expect more Hongkongers to seek out property in the Greater Bay Area development zone, and at least six of these now offer mortgages for such purchases.On Tuesday, Bank of East Asia (BEA) became the latest lender to offer a cross-border mortgage loan service, following in the footsteps of Chong Hing Bank, which was the first to offer such loans in June last year; HSBC; ICBC Asia, the Hong Kong unit of China's largest bank; China Construction Bank (Asia); and Nanyang Commercial Bank.Hong Kong residents accounted for less than 2 per cent of the residential transactions in the area in 2018, the total of which was an estimated 700 billion yuan (US$99 billion), according to CGS-CIMB Securities.In February 2019, however, Beijing announced a blueprint for the development of the area, including measures that will create jobs and generate capital flows. This plan is expected to encourage more Hongkongers to work and live in the Greater Bay Area, where homes are cheaper than those in Hong Kong."Increased connectivity within the Greater Bay Area has also sparked a growing demand from individual customers for residential property in the region. With this in mind, Bank of East Asia is launching a cross-border mortgage service to help customers across the region buy a home in different locations for work, leisure or retirement," said Adrian Li, the bank's co-chief executive. Hong Kong insurers AIA, Prudential on a hiring spree, bet on Greater Bay AreaPreviously, Hong Kong buyers could only apply to mainland Chinese banks for mortgages. They can now apply at the branches of the six banks in the city, but they might still need to go to mainland branches to complete some procedures. The can repay their mortgages in Hong Kong dollars.The bay plan refers to the Chinese government's scheme linking the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub. Together the area has an economic output of US$1.65 trillion, making it the 11th largest economic cluster worldwide, ahead of Russia and behind Canada if it were counted as a single entity.Here are some details of the mortgages that Hong Kong buyers of property in the Greater Bay Area can apply for.This ranges from a minimum of HK$500,000 (US$64,514) to HK$50 million. Nanyang Commercial Bank, for instance, can lend up to a 30-year mortgage capped at HK$50 million, or 70 per cent of the value of a property, whichever is lower. China Construction Bank (Asia) offers 30-year mortgages from HK$500,000 to HK$10 million, while Chong Hing Bank offers 10-year mortgages up to HK$2 million, or 50 per cent of the value of a property.In most cases, Hong Kong banks will only remit the mortgage amount to developers or sellers, with buyers needing to pay initial down payments themselves.This is the most difficult part because of capital control requirements in China. Currently, one can only remit up to 80,000 yuan a day from Hong Kong to the mainland. Buyers also cannot remit 80,000 yuan for a number of days to accumulate a large sum on the mainland. As a workaround, Hong Kong buyers usually rely on relatives or friends in mainland China to make initial payments for them, according to Midland Realty. Some might also use income generated on the mainland to settle a deal. Hong Kong uniquely placed to exploit Greater Bay Area market: guildCertain developers, however, might have special arrangements with Hong Kong banks to remit the entire sum of a transaction to complete a deal.Borrowers need to submit their application forms to the Hong Kong branches of banks, alongside documents to prove their identity, residential address in Hong Kong and income, as well as the sales agreement for the property concerned.No. HSBC accepts mortgage applications for six of these cities " Guangzhou, Shenzhen, Zhuhai, Dongguan, Foshan and Zhongshan. BEA, meanwhile, covers four and ICBC (Asia), three.Since the loans are being offered in Hong Kong dollars, borrowers will pay the Hong Kong dollar mortgage interest rate, which ranges from 2.75 per cent to more than 3.5 per cent. These rates are cheaper than mainland rates, which range from 5 per cent to 6 per cent.Unlike in Hong Kong, where homebuyers can go to any bank for a mortgage, mainland developers restrict which banks can provide loans for their projects. In addition, mainland property is bought in yuan, while the mortgage will be in Hong Kong dollars, so there will be exchange rate risks.Yes, just like mortgages in Hong Kong, the property will be used as collateral. If the borrower is in default, the bank has the right to take possession and to sell the property to recover its money.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
Marshall Wace is planning to raise $1 billion for a new fund which will invest based on environmental and other ethical criteria, a source familiar with the matter told Reuters. The hedge fund, co-founded by British financier Paul Marshall, will rely on external analysts who focus on environmental, social and governance (ESG) issues, the source said on Saturday. The fund will bet against stocks with poor ratings and will buy stocks with strong ESG characteristics, the source added, confirming an earlier Financial Times report.
New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Electronic Weighing Scales Industry" -.
Royal Dutch Shell <RDSa.L> is not ruling out moving its headquarters from the Netherlands to Britain, the oil company's chief executive Ben van Beurden said in a Dutch newspaper interview published on Saturday. Anglo-Dutch consumer products giant Unilever <ULVR.L> <UNA.AS> said last month it plans to ditch its dual Anglo-Dutch legal structure and create a single entity in Britain. Van Beurden did not explicitly say Shell wants to move its headquarters, het Financieele Dagblad said.
New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Electronics Conformal Coating Industry" -.
Breaking news to start: On Friday night, it emerged that the Swiss government has appointed a special prosecutor to consider a criminal complaint against Fifa president Gianni Infantino and its own top lawyer, federal prosecutor Michael Lauber. In this week’s briefing on the business of sport, we look at the financial troubles at Formula One as the global motor racing series resumes this weekend, explain how a contract dispute between sportswear company Under Armour and two US universities might upend sponsorship deals in the $8bn US collegiate sports industry, show how Wigan Athletic falling into administration is a symptom of bigger problems within English football, and more.
Immigration records showing Wirecard's former chief operating officer Jan Marsalek arrived in the Philippines on June 23 and departed for China the next day were falsified, Philippines Justice Secretary Menardo Guevarra said on Saturday. Guevarra said the immigration officers who inputted the fictitious entries have been relieved of their duties and face administrative sanctions. "The investigation has now turned to persons who made the false entries in the database, their motives and their cohorts," Guevarra told reporters.
New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Elemental Analysis Industry" - https://www.reportlinker.com/p05899419/?utm_source=GNW.
It looks like Telecom Plus PLC (LON:TEP) is about to go ex-dividend in the next four days. You can purchase shares...
VIDEO SHOWS: FILE FOOTAGE OF LIN DAN SHOWS: RIO DE JANEIRO, BRAZIL (NOVEMBER 24, 2015) (REUTERS - ACCESS ALL) 1. LIN DAN WALKING ONTO COURT 2. DAN PLAYING RALLY 3. DAN PLAYING RALLY WITH CHINESE FLAG HELD IN AUDIENCE BEHIND 4. FANS HOLDING CHINESE FLAG AND APPLAUDING 5. DAN IN NEWS CONFERENCE BIRMINGHAM, ENGLAND, UK (MARCH 3, 2015) (REUTERS - ACCESS ALL) 6. OLYMPIC BADMINTON CHAMPION LIN DAN WALKING IN FOR NEWS CONFERENCE 7. LIN 8. PEOPLE TAKING PHOTOGRAPH 9. PULLBACK FROM GIANT PHOTOMONTAGE TO LIN ON STAGE STORY: China's two-time Olympic badminton champion Lin Dan, one of the sport's greatest singles players, announced his retirement on Saturday (July 4). Fondly called 'Super Dan' by badminton fans across the world, Lin became the first shuttler to retain the Olympic title when he won in the 2012 London Games after his triumph in the home event in Beijing in 2008. "I've dedicated everything to the sport I love. My family, coaches, team mates and fans have accompanied me through many happy times and difficult moments," Chinese media quoted Lin as saying in the retirement announcement. "Now I'm 37 years old, and my physical fitness and pain no longer allow me to fight side by side with my team mates," Lin added. Lin also won all the sport's major titles, including five gold medals at the world championships between 2006 and 2013 and six All England crowns. The left-handed shuttler also helped China to six gold medals in the Thomas Cup men's team event and five titles in the mixed Sudirman Cup. He also helped the national side to three gold medals in team event and two individual singles titles at the Asian Games. "From 2000 to 2020, after 20 years, I have to say goodbye to the national team. It is very difficult to speak it out," said Lin. Malaysia's Lee Chong Wei, who lost to Lin in both the Olympic finals in Beijing and London, hung up his racquet last year due to prolonged health issues. The rivalry between Chong Wei and Lin was considered legendary and the Malaysian paid rich tribute to his on-court nemesis through a poem on social media, accompanied by pictures of them together as children and adults. "We knew this day would arrive, Heavy moment of our lives; You pulled down the curtain gracefully, You were king where we fought so proudly; Your final wave all four disappear, Within the hush of silent tear," Chong Wei wrote on Twitter with the hashtag #lindan. (Production: Andy Ragg)
New York, July 04, 2020 -- Reportlinker.com announces the release of the report "Global Emergency Light Sticks Industry" -.
Chinese regulators adopted shock and awe tactics on Saturday to target misbehaving shareholders of banks and insurers by naming and shaming 38 corporate investors for having "gravely" violated rules and laws in their first such exercise. The China Banking and Insurance Regulatory Commission (CBIRC) said the disclosure aimed to limit financial risks and improve corporate governance, adding that such lists of names would be regularly published in future. China has stepped up scrutiny of shareholders in financial institutions after the failure of once-acquisitive conglomerate Anbang Insurance Group, which the government seized in early 2018.