HONG KONG (Reuters) – A U.S. banking regulator’s probe into JPMorgan’s (JPM.N: Quote, Profile, Research, Stock Buzz) hiring practices in China will have rival banks scrambling to review their own records, lawyers say, in a market where ties to political and business leaders can be key to winning big deals.
Banks around the world commonly hire people with government connections, but this is especially prevalent in China due to the role the ruling Communist Party plays in the country’s business.
HONG KONG, Aug 19 (Reuters) – Alibaba Group Holding Ltd
is in talks with the Hong Kong stock exchange about
allowing its founders to maintain control over the Chinese
e-commerce company even after it becomes listed, people familiar
with the matter told Reuters.
Alibaba is widely expected to launch an initial public
offering worth more than $15 billion by the end of the year,
with Hong Kong tipped as the likely venue.
HONG KONG, July 10 (Reuters) – A record $6 billion Asia fund
announced by U.S. private equity firm KKR & Co on Wednesday will
be deployed at a time when an economic slowdown and emerging
market sell-off has knocked the overall value of Asia Pacific
corporations to historic lows.
While the market volatility should offer KKR opportunities
to buy low, the record of the private equity industry in Asia
shows that investing in the region is not as easy as it seems.
HONG KONG, July 10 (Reuters) – KKR & Co raised $6 billion
for its third Asia private equity fund, equipping the firm with
the largest such fund in the region at a time when market
turmoil is creating both opportunities and challenges for
KKR said it raised $1.5 billion, or 26 percent of the fund,
from Asian investors. That is an increase from the $908 million
it raised from the region for its first Asia fund.
SHANGHAI/HONG KONG, July 9 (Reuters) – Wang Zhiyong, the
founder of a Shanghai-based gift card company, tried twice to
get a bank loan for his business and failed both times.
So Wang turned to China’s vast network of alternative
lenders, opting for a so called “curb side” loan. Such a loan is
just one segment of the country’s shadow banking system, which
includes pawn shops, credit guarantee firms, trust companies and
other mechanisms as sources of funds for Chinese borrowers.
HONG KONG (Reuters) – The funding crunch prompted by China’s central bank was meant to teach a lesson to the Chinese banks that continue to embrace risky lending tactics.
A look at the funding and loan figures at mid-sized lender China Minsheng Banking Corp. (600016.SS: Quote, Profile, Research, Stock Buzz) helps explain why the People’s Bank of China (PBOC) made its move.
HONG KONG (Reuters) – Paul Conway’s eventful career in China included advising companies on stock offerings and overseeing a messy business restructuring — the latter stint forcing him to hire a bodyguard to fend off harassment from local thugs.
Now the 43-year-old former banker is raising around $60 million for a hedge fund that will invest in U.S.-listed, Chinese companies, another assignment that many would consider not for the faint-hearted after a series of accounting scandals that have battered sentiment towards the sector since 2010.
HONG KONG, June 2 (Reuters) – Alan Duckworth and Michael Thomas met for the first time last week, hours before hopping a plane from Heathrow to Hong Kong. The Englishman and the Welshman will share a hotel room for the next six weeks, in seven cities, spanning two continents as they follow the world’s most renowned touring rugby squad.
More than 20,000 fans of the British and Irish Lions rugby team are expected to travel to Australia to cheer on the 37 players as they try to capture their first series win since 1997.
HONG KONG, June 1 (Reuters) – The British and Irish Lions head to Australia buoyed by a convincing victory over the Barbarians in Hong Kong which has “laid down a marker” for the main part of the tour, coach Warren Gatland said on Saturday.
The Lions overcame extreme heat and humidity as they opened the 125th anniversary tour with a 59-8 win.
HONG KONG, June 1 (Reuters) – Mike Phillips and Alex Cuthbert scored two tries apiece as the British and Irish Lions kicked off their 125th anniversary tour with a comfortable 59-8 victory over the Barbarians in oppressive humidity in Hong Kong on Saturday.
Tries from skipper Paul O’Connell and Phillips helped the Lions to a 23-3 halftime lead and the floodgates opened after the break with Phillips adding a second, Cuthbert grabbing his brace and fellow Welshmen Jonathan Davies, Dan Lydiate and Alun Wyn-Jones also crossing.