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Citic Group, Wuxi company and Henry Tang’s family in talks to buy Hong Kong Airlines, putting an end to boardroom tussle

A consortium of mainland Chinese and Hong Kong investors is bidding to buy Hong Kong Airlines, offering an end to the messy boardroom tussle at the city’s third-largest carrier and a financial lifeline to the debt workout by one of China’s biggest asset buyers.The investors comprise the family of Hong Kong’s former Chief Secretary Henry Tang Ying-yen, include a unit of Citic Group, and Wuxi Communications Industry Group, the Chinese owner of the Dornier Seawings amphibious aircraft maker,… Source link

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China 

Beijing plays down Commerce Minister Zhong Shan’s inclusion in latest US-China trade war talks

The participation of China’s Commerce Minister in the latest trade discussion with the United States was “normal”, China’s Ministry of Commerce said on Thursday, playing down the eye-catching change in Beijing’s negotiating team.Zhong, 64, joined Vice-Premier Liu He’s phone conversation with US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday – the first phone call between top negotiators since President Xi Jinping and US counterpart Donald Trump agreed… Source link

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Tencent said to be in talks for bigger cut of video game sales from mobile app stores

Tencent Holdings is pressing China’s top smartphone vendors and app stores to boost the cut of revenue it gets from video games sold through their platforms, people familiar with the matter said, stepping up efforts to claw back profits as the company’s business slows.The gaming and social media giant is seeking as much as 70 per cent of the sales generated from its video games, up from 50 per cent at present, said the people, who requested anonymity discussing private negotiations.That would… Source link

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US-China trade talks to resume by phone in coming week, Donald Trump’s chief economic adviser Larry Kudlow says

US and Chinese officials will talk by phone in the coming week as they seek to resolve a growing trade war between the two countries, said Larry Kudlow, US President Donald Trump’s chief economic adviser.“They’re on the phone,” Kudlow told reporters at the White House on Wednesday. “They will be on the phone this coming week. And they will be scheduling face-to-face meetings. Lots of communications.”Trump has said a new round of trade talks with China is under way, ending a stalemate between… Source link

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China stocks rally on restart of talks to end trade war

Mainland markets rallied on Monday after Presidents Donald Trump and Xi Jinping hit the pause button the trade war over the weekend, boosting trading sentiment.The Shanghai Composite ended up 2.22 per cent to 3,044.90, its highest level since April 30, while the CSI 300 of large caps jumped 2.88 per cent to 3,935.81, marking its highest level since April 25.Technology led both bourses, and sectors were up across the board.Hong Kong’s stock market was shut for the anniversary holiday marking the… Source link

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China 

Xi-Trump summit in Osaka brings trade truce, more talks and hope for Huawei

China and the United States reached a trade truce after a high-stakes leaders’ summit on Saturday, with Washington agreeing to put on hold new tariffs on Chinese products and ease restrictions for American companies to sell to telecoms giant Huawei Technologies.During talks on the sidelines of the Group of 20 gathering in Osaka, Chinese President Xi Jinping and his US counterpart Donald Trump also agreed to resume trade talks. Trump said the US would not impose new tariffs on US$300 billion… Source link

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Stocks Blog: Trade talks between Donald Trump and Xi Jinping directing investors' thinking

Well, happy last day of trading in the first half of the year. It’ll be nice to get Saturday behind us.  But for today, lots of trades will be made by investors trying to guess the outcome of the Xi-Trump talk — and its impact on stock prices next week. The Wall Street Journal is reporting that China issued preconditions for a trade agreement, including that the US remove its ban on tech sales to Huawei.  We’ll keep you up on the latest. Send any questions or feedback you may have to…

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China 

Donald Trump prepared to impose lower tariffs if China talks fail

This story is published in a content partnership with POLITICO. It was originally reported by Pradnya Joshi on politico.com on June 26, 2019.US President Donald Trump said on Wednesday he was prepared to impose additional tariffs on China if talks this week do not end in progress, but suggested additional duties could start at a lower amount of 10 per cent.Trump has already imposed 25 per cent tariffs on US$250 billion worth of Chinese goods and has been preparing to levy duties on the… Source link

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Global 

Xi-Trump talks at G20 unlikely to end trade war, warn Bank of America Merrill Lynch, Barings

Two major international financial institutions have joined a growing chorus of voices urging investors not to be too optimistic about a significant deal between the US and China being reached this weekend.Analysts at Bank of America Merrill Lynch and Barings, a global asset manager, said it is unlikely trade tensions between the world’s two largest economies will be fully resolved at a meeting between the countries’ leaders at the Group of 20 summit.As the trade war uncertainty and its ripple… Source link

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Richard Li’s FWD is in talks to buy MetLife’s Hong Kong insurance unit to expand through acquisition

FWD Group is in advanced talks to buy MetLife’s Hong Kong insurance unit in what would be the latest in a string of acquisitions by the insurer backed by billionaire Richard Li, people familiar with the matter said.The companies could reach an agreement in the next few weeks, the people said, asking not to be identified because the discussions are private. A deal could value MetLife Hong Kong at less than US$400 million and would help FWD boost its presence in the former British colony, the… Source link

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