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Hong Kong shops suffer as mainlanders stay at home
Capital Markets
Hong Kong recently lost its proud, self-appointed status as Asia's world city. A PWC study  last month placed it 11th, well behind Singapore and Tokyo, and gave the territory dreadful ratings for culture and “social health”, welfare and environmental sustainability. No matter, complacent Hong Kongers shrug: Chinese tourists will keep coming, wasting their cash in our shops and bidding up property prices to ridiculous
Key role of family offices to help US billionaires dodge taxes
Multinational companies are routinely pilloried for juggling their revenues, lobbying politicians or even shifting their headquarters to cut their tax bills. But in the U.S., corporate maneuvering to dodge payments looks amateurish compared with the lengths parvenu financiers go to protect their vast personal fortunes. It's great news for the wealth management industry as well as lawyers and accountants skilled in identifying
The catastrophic threat of bail in
Capital Markets
It has now been more than two and a half years since the Cyprus Steal , the first “bail in” perpetrated in the Western world, occurred. Before reviewing the history of this newest financial atrocity, it is necessary to define the terms. The term ” bail in “ describes a scenario in which a bank confiscates private property to indemnify
Five business trends to watch in 2016—no matter how or where you work
  From big data to the gig economy, 2016 may be the year that familiar buzzwords start having real, mainstream impact. Depending on the sort of entrepreneur, employee, freelancer, or company leader you might be, the year ahead holds varying degrees of promise and pitfalls. Some of the changes afoot are already affecting some more than others. But optimism is
Daily Scan Asia: Asian stocks steady after US gains; Noble drops to junk
Capital Markets
Updated throughout the day December 30, 2015 A recovery in oil prices drove energy prices higher and lifted Australian markets on Wednesday. The S&P/ASX 200 was up 1% to 5319.90, with energy shares up 1.4%. The index has risen nearly 7% from a one-year low reached in mid-December, and its year-to-date loss is only 1.7% despite the carnage in the commodities markets. Japan’s
Daily Scan America: Stocks follow oil higher; Google, Amazon hit new highs; spies tracking Israel catch Congress
Capital Markets
  Updated throughout the day December 29, 2015 Whither oil goes, so goest the U.S. stock market. Oil rebounded from steep losses in the previous session, jumping 2.9% Tuesday.  The Dow Jones Industrial Average and S&P 500 both added 1.1% but the energy sector added just 0.6%. The Nasdaq gained 1.3% as two of its heavies posted all time highs: Amazon
Sohn co-founder to close hedge fund
Hedge Funds
Sohn Investment Conference co-founder Doug Hirsch is closing his hedge fund after almost 20 years. Hirsch's Seneca Capital Investments is returning most of its $500 million in capital December 29, reports Bloomberg. The event-driven hedge fund lost 6% this year in its domestic fund. Event driven funds lost an average of 2.3% from January through November this year. “I am
New entrant jumps to lead as HSBC hedge fund performance races to the yearly finish
Hedge Funds
With the race to finish at the top of the HSBC Hedge Weekly coming to a yearly close, a major shift has taken place on the leader board. A long short hedge fund with an intermittent record of appearing on the HSBC list has taken a commanding lead while a much watched bio-tech fund that was previously in the spotlight
What Amazon's holiday report reveals about our weird shopping habits
It wouldn't be the holiday season without revealing year-end press releases from major corporations, especially retailers. The king of online retail, Amazon, just issued a 3,000-word report of holiday shopping, watching, and listening stats that says a lot about us. Much of the data comes from users of Amazon Prime, the $99-per-year subscription service that provides free and discounted deliveries,
Energy pummels mutual funds in 2015
Asset Management
Dipping oil prices and rising interest rates hit mutual funds hard in 2015, dragging down popular energy-limited partnership funds. The energy funds, which invest in master limited partnerships (MLPs), top the table of worst-performing U.S. funds of the year, reports the Financial Times. The energy mutual funds were sold as high-yield investments more protected than direct investments in energy producers,