Finance news

Hong Kong beauty operators warn tighter rules may deal ‘blow to our trade’

A Hong Kong government plan to tighten regulations on prepaid beauty and fitness contracts has sparked concern among operators, who warn that a rigid refund window and caps on administrative fees ignore operational realities. The government on Monday launched a two-month public consultation on proposed amendments to the Trade Descriptions Ordinance, aimed at strengthening consumer protection amid persistent complaints about unfair practices and high-pressure sales tactics. Key proposals include.

Apple supplier Luxshare seeks up to $3.1 billion in Hong Kong share sale

Apple supplier Luxshare Precision Industry is seeking to raise as much as $24.27 billion Hong Kong dollars ($3.1 billion) through a Hong Kong share sale.

'I've applied for 8,000 jobs': Tech grads at top US schools feel shut out by AI

China is a winner of Iran conflict: Asia hand Kurt Campbell

In Defence Investment Plan preview, Britain bets big on drones, ‘hybrid’ navy

The Ministry of Defence has said the plan will pursue at least six “hybrid” warships designed to work with unmanned systems in the air and at sea.

Self-exiled Chinese billionaire Guo Wengui jailed for 30 years in US for fraud conviction

A self-exiled billionaire Chinese business tycoon once believed to be among China’s wealthiest men was sentenced on Monday to 30 years in a US prison for a massive financial fraud that a federal judge said cost over 1,000 people worldwide hundreds of millions of dollars. Guo Wengui, who fled China a decade ago and reinvented himself as a US-based Communist Party critic, was sentenced in a Manhattan courtroom packed with his supporters by Judge Analisa Torres. She said he “preyed on those seeking

How South Korea’s AI megaprojects aim to ‘maintain edge’ over China, meet demand

South Korea’s US$518 billion semiconductor push aims to tap the artificial intelligence boom into a durable industrial advantage and keep up with leading rival China, according to observers. The plan is intended to secure supplies of advanced memory chips needed for AI data centres and computing infrastructure, while easing pressure on the Seoul metropolitan area by creating a second major chipmaking base in the country’s southwest. President Lee Jae Myung on Monday unveiled the government’s...

Shanghai should step up as finance hub, as Hong Kong ‘not enough’, proposal says

Shanghai has been urged to build itself into a hub serving the rising outbound investment needs of Chinese firms, potentially increasing rivalry with Hong Kong as both cities race to augment their status as financial centres. The suggestion by Liu Xiaochun, vice-president of the Shanghai Finance Institute and a senior banker with three decades of experience, was made in mid-June at a closed-door meeting hosted by China Finance 40, a Beijing think tank comprising many top Chinese financial...

Not Even Musk Has The Answer To AI’s Power Shortage

The White House issued a stark warning in July 2025: Without $1.4 trillion in new infrastructure investment, electricity prices could surge as much as 58% by 2030. That’s driven mostly by the insatiable power demand from the rise of AI data centers and cryptocurrencies like Bitcoin. According to Axios, new reports show that power demand is set to grow up to 10x between now and 2030. The grid we’ve relied on for decades simply can't keep pace, and that’s threatening to put a major strain on both

19 and making 1200 a month, international student

Im an international student studying in the states, work an on campus job that pays 1.2k per month, my education, housing are all covered by my parents which im very grateful for. What should i do with the 1.2k other then spend it? I can't open a roth cus im international. submitted by /u/Disastrous-Role-2030 [link] [comments]

Trump’s weekend Iran strikes keep sparking Monday stock rallies. Here’s what the data shows us.

Call it the ‘Axios put’: On average, stocks have been up more on Mondays in the second quarter than in recent years

AeroVironment soars 19% on earnings beat, backlog grows to $1.2 billion

Dronemaker AeroVironment's autonomous system revenue beat expectations by $90 million and its backlog continued to grow.

Waymo and Uber end robotaxi pilot in Phoenix

The Waymo self-driving cars deployed in Phoenix for the Uber pilot will remain in use and make autonomous deliveries with DoorDash.

US parents charged with murder in death of 7-year-old son who weighed 116kg

The parents of a seven-year-old Michigan boy who weighed 116 kilograms (255 pounds) when he died have been charged with murder, torture and child abuse, prosecutors said. “Clearly the parents were feeding the child improperly, to say the least,” Genesee County Prosecutor David Leyton said on Monday. “He wasn’t getting the nutrition he needed.” Casper O’Brien died in November after first responders were called to the family’s home in Flint because he had stopped breathing, prosecutors said. His..

CNBC's The China Connection newsletter: U.S.-China tech rivalry heats up—in other countries

U.S. and Chinese tech companies are increasingly pursuing opportunities outside their home markets, with government policy support.

The Next Oil Rally Could Be Driven by Stockpile Buying

The war in the Middle East has cost the world over a billion barrels in cumulative supply losses. Yet luckily, China had built a reserve of about the same size before the closure of Hormuz, so it stopped buying so much oil, arresting the inevitable price jump. Now, everyone wants to build an oil reserve—or needs to replenish the ones they already have. Back in March, soon after the U.S. and Israeli attacks on Iran began, prompting the latter to retaliate by closing the Strait of Hormuz, the Inte

Fuel market: Fuel discount expires today

Starting tomorrow, refueling will be more expensive: the tax cut for petrol and diesel will end, and the refueling discount will expire. What this means for drivers.

Police hunt fugitive in Monaco after 3 wounded in ‘deliberate explosion’

Three people were seriously injured, two of them critically, on Monday in an explosion at a residential building in Monaco, which authorities described as a “deliberate” act. A source close to the investigations who asked not to be named told Agence France-Presse that one of those wounded was a Ukrainian oligarch, Vadym Yermolaiev. The territory’s Minister of State Christophe Mirmand initially told Agence France-Presse the blast at a residential building appeared to be “an attack”, but later...

Supreme Court rulings on Fed, FTC: What they mean for consumers

The Supreme Court issued a pair of highly anticipated rulings on Monday that have far-reaching implications for household finances.

Peruvian political heir Keiko Fujimori wins presidency

Peru’s conservative president-elect Keiko Fujimori vowed on Monday to restore “order and hope” after defeating left-winger Roberto Sanchez in the latest victory for a resurgent Latin American right. Fujimori won the June 7 presidential run-off by the slimmest of margins, outpolling Sanchez by fewer than 50,000 votes out of the more than 18 million ballots cast, the final results showed. “Each time we draw closer to starting on the path of order and hope for all Peruvians,” she wrote on X after..

Industry lobbyists push House committee to block a ban on Pentagon defense contractors buying back their own stock

Defense companies and their trade groups are pressing Congress not to require that the Pentagon approve stock buybacks.

Over 100 Venezuelans deported from the US hours before the earthquakes are missing

More than 100 people just deported from the United States were being held in a hotel when earthquakes struck Venezuela, setting off a scramble to find survivors and bodies buried in the rubble, according to survivors. A deportation flight from Miami arrived in Caracas hours before Wednesday’s earthquakes. On board were 146 Venezuelans, including 19 women and seven children, according to ICE Flight Monitor, an initiative of Human Rights First, which tracks deportation flights. Lisbeth Portillo,..

Why Chinese-American success stories still provoke prejudice and fear

As the United States marks the 250th anniversary of its founding, it confronts a new world order dominated by its relationship with China. In this wide-ranging series, we examine the pressure points and possibilities in those ties, from hard tech to soft power. Here, Ling Xin and Meredith Chen look at how the fight against discrimination continues to this day. The rise of the United States to superpower status was fuelled by the untold millions of immigrants who arrived from foreign...

Ukraine's Refinery Strikes Push Russia Into a Fuel Crisis

After weeks of trying to downplay the impact of Ukrainian drone strikes on Russian refineries, the Kremlin acknowledged this weekend that Russia faces fuel shortages and a fuel crisis that needs further government intervention to solve. A few weeks ago, regional governors across Russia rushed to downplay the fuel crisis, seeking to assure residents that supply is tight only at limited gas stations and there is no need to panic about shortages. Apparently, this narrative couldn’t be contained for

Chinese Venezuelans turn community networks into lifeline after earthquakes

Lutao Cen was swimming off Margarita Island, where he has lived for four decades, when twin earthquakes measuring above magnitude 7 struck northern Venezuela within two minutes. Only after returning to shore did he learn what had happened. Messages flooded his WeChat feed. Friends in Caracas, Valencia and Maracay described buildings collapsing and streets filled with dust. Then came the news he had feared most. A close friend in La Guaira, chairman of the local Chinese association, had been...

How the Northern Metropolis university town can deliver on innovation

The recent visit of Xia Baolong, director of the Hong Kong and Macau Affairs Office, carried the task of accelerating the development of the Northern Metropolis. This is not another urban expansion, but a strategic test of whether Hong Kong can reinvent its role in the nation’s innovation landscape. At its core, the Northern Metropolis bears a dual mission. For Hong Kong, it must become a growth engine, creating a third curve of development, beyond finance and real estate, by nurturing original.

Tesla’s stock rips higher after a long-awaited update to self-driving technology

EV maker’s stock has best day in over a year, but is still down for the month.

Charter may be making ‘frenemies’ with SpaceX, and its stock is soaring

Shares of other telecoms are falling, as SpaceX’s Starlink has options to move into the wireless market. A potential partnership with Charter could be one of those options.

'I've applied to 8,000 jobs': Tech grads at top US schools feel shut out by AI

Japan retail investors wait with near $100bn in funds in volatile market