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Dec 31, 2014

Special report: The mainland’s colonisation of the Hong Kong economy

HONG KONG (Reuters) – When Xi Jinping wanted to deliver a political message to Hong Kong as protesters demanding free elections were threatening to take to the streets, he summoned the tycoons who dominate the city’s economy. The words from the Chinese leader at the September 22 meeting in Beijing were uncompromising but not surprising. He would not entertain any demand for full universal suffrage in Hong Kong, according to two people who attended.

Just six days later, pro-democracy activists made good on their threat, unleashing more than two months of street demonstrations. But while Xi’s message that day in the Great Hall of the People failed to deter the protesters, in speaking directly to the city’s business and professional elite he was showing where Beijing believes real power in Hong Kong resides.

Dec 31, 2014

The mainland’s colonisation of the Hong Kong economy

HONG KONG, Dec 31 (Reuters) – When Xi Jinping wanted to
deliver a political message to Hong Kong as protesters demanding
free elections were threatening to take to the streets, he
summoned the tycoons who dominate the city’s economy. The words
from the Chinese leader at the September 22 meeting in Beijing
were uncompromising but not surprising. He would not entertain
any demand for full universal suffrage in Hong Kong, according
to two people who attended.

Just six days later, pro-democracy activists made good on
their threat, unleashing more than two months of street
demonstrations. But while Xi’s message that day in the Great
Hall of the People failed to deter the protesters, in speaking
directly to the city’s business and professional elite he was
showing where Beijing believes real power in Hong Kong resides.

Dec 12, 2014

‘We’ll be back’ Hong Kong protesters chant, as camp site dismantled

HONG KONG (Reuters) – Hong Kong police arrested pro-democracy activists and cleared most of the main protest site on Thursday, marking an end to more than two months of street demonstrations in the Chinese-controlled city, but many chanted: “We will be back”.

Most activists chose to leave the Admiralty site, next to the Central business area, peacefully, despite their demands for a free vote not being met. But the overall mood remained defiant.

Dec 11, 2014

Thousands gather on final evening before Hong Kong protest camp clearance

HONG KONG (Reuters) – Over 10,000 protesters massed at a major pro-democracy protest site on Wednesday evening, even as authorities warned people to stay away, before the final clearance of the main ‘occupy’ camp the following morning.

Hong Kong urged pro-democracy protesters to pack up their tents and leave their main camp near government headquarters, saying it could not promise there would be no “confrontations”.

Dec 11, 2014

Hong Kong begins clearing main pro-democracy protest camp

HONG KONG (Reuters) – Hong Kong authorities started on Thursday clearing the main pro-democracy protest site that has choked roads into the city’s most economically and politically important district for more than two months as part of a campaign to demand free elections.

The mainly peaceful protests in the Chinese-controlled city have represented one of the most serious challenges to China’s authority since the 1989 pro-democracy demonstrations and bloody crackdown in and around Beijing’s Tiananmen Square.

Dec 10, 2014

Hong Kong appeals to protesters to pack up before camp clearance

HONG KONG, Dec 10 (Reuters) – Hong Kong urged pro-democracy
protesters to pack up their tents and leave their main camp near
government headquarters, saying it couldn’t promise there would
be no “confrontations” when the site is cleared on Thursday.

Thousands of police will move in on the site in Admiralty,
next to the Central business district, after two and a half
months of road blockades and sporadic violent scuffles in the
former British colony that returned to Chinese rule in 1997.

Dec 10, 2014

Hong Kong protesters steadfast in final hours before police clearance

HONG KONG (Reuters) – Bands of determined protesters and hundreds of wet tents pitched near Hong Kong government headquarters were all that remained on Wednesday of months’ long pro-democracy protests in the final hours before police clear the main protest site.

“We’ll Be Back,” proclaimed a large yellow banner painted by a handful of students the night before.

Dec 5, 2014

Prada targets cost cuts in 2015 as third-quarter profit falls 44 percent

HONG KONG/MILAN (Reuters) – Italian luxury group Prada (1913.HK: Quote, Profile, Research, Stock Buzz) said it would continue to cut costs next year and open fewer shops than planned after its profit slumped 44 percent in the three months to end-October, hurt by declining sales.

Street protests in Hong Kong since late September have added to the difficulties Prada faces in Asia Pacific – its biggest regional market accounting for 38 percent of sales – as slowing economic growth and a crackdown on corruption in China cooled consumer demand.

Dec 5, 2014

Prada targets cost cuts in 2015 as Q3 profit falls 44 pct

HONG KONG/MILAN, Dec 5 (Reuters) – Italian luxury group
Prada said it would continue to cut costs next year
and open fewer shops than planned after its profit slumped 44
percent in the three months to end-October, hurt by declining
sales.

Street protests in Hong Kong since late September have added
to the difficulties Prada faces in Asia Pacific – its biggest
regional market accounting for 38 percent of sales – as slowing
economic growth and a crackdown on corruption in China cooled
consumer demand.

Dec 5, 2014

Prada quarterly profit drops, says outlook uncertain

HONG KONG, Dec 5 (Reuters) – Italian luxury goods maker
Prada SpA posted a 43.8 percent drop in third-quarter
profit and said it faced increased competition amid an uncertain
economic outlook.

Prada’s net profit for the three months ended Oct. 31 was
74.47 million euros ($91.99 million), lower than the 97 million
euros forecast by brokerage CLSA and the 112 million euros
forecast by JPMorgan.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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