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Allan Zeman says Hong Kong airport shutdown was necessary as the situation left management with no other choice

The decision to shut down Hong Kong International Airport was taken by management and approved by the government, according to Allan Zeman, a prominent businessman and one of 17 board members of the Airport Authority.Noting that board members were kept appraised of the situation via a board members’ website, he said that management had no other choice but to shut down one of the world’s busiest aviation hubs because of safety concerns.The decision to stop flights was taken because anti… Source link

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China 

Could Hong Kong airport shutdown give Shenzhen the edge as top air hub in Greater Bay Area?

The shutdown of operations at Hong Kong International Airport (HKIA) for a second consecutive day on Tuesday has tarnished the city’s reputation and could prompt airlines to reassess the facility’s role as the main air transport hub for the Greater Bay Area, analysts said.That reassessment could be supported by Chinese government efforts to expand the capacity of other airports in the area to handle the expected increase in passenger traffic in coming years, they added.Hong Kong International… Source link

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Nutella crisis averted as world’s largest factory reopens after five-day shutdown over hazelnut ‘quality defect’

The world’s largest Nutella factory restarted production on Monday after it stopped work for five days as a precautionary measure over a “quality defect”, owner Ferrero’s French branch said.The factory in Normandy, France stopped making the chocolate-and-hazelnut spread due to a “suspected quality defect strictly limited to the production stage,” Ferrero France said.It added that the problem was “very early in the process, at the stage of grinding and roasting hazelnuts.”“The factory started up… Source link

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Global 

US government shutdown could be another obstacle to China trade war deal

The likelihood of the United States and China being able to negotiate an end to the trade war during the 90-day ceasefire period has been further reduced by the US government shutdown. Funding for many government agencies lapsed on Saturday after Democrats in the Senate refused to support a United States House of Representatives bill that included US$5 billion for President Donald Trump’s long-promised border wall with Mexico. Depending on how long the shutdown lasts, plans for Chinese and American negotiators to reconvene in January could be thrown into disarray,…

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Wall Street suffers more big losses as threat of US shutdown looms, adding to worries about Fed’s course

Volatility gripped US financial markets a day after the Federal Reserve sent shock waves across assets, with the rising threat of a government shutdown adding to a litany of concerns buffeting equities. The Dow finished Thursday down 1.99 per cent, while the S&P 500 was off 1.58 per cent and the Nasdaq 1.63 per cent. Equities had whipsawed throughout the day and investors debated whether the Fed and Chairman Jerome Powell set up the central bank for a policy error, before turning sharply lower after US President Donald Trump hardened…

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