Finance news

Insurance brokerage: Supervisors call for uniform rules for AI chatbots in the EU

Language models such as ChatGPT and Claude recommend specific insurance rates upon request. The industry association for independent financial sales sees this as a legal violation.

Blockade lifted, assets to be returned to Iran in Swiss talks breakthrough

The US-Iran talks in Switzerland have led to the lifting of the blockade and the release of frozen assets for Iran, Tehran said, but the real test remains deconfliction in Lebanon. “Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War,” Iranian Foreign Minister Seyed Abbas Araghchi said in a social media post on Monday. “Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for..

Schwarz Group: Kaufland is struggling with weak sales in the German market

125 Real locations have been integrated and dozens of branches have been modernized. Nevertheless, Kaufland is under pressure. Business circles report significantly weaker development than planned.

Interview: Mercedes chief supervisor: “We should seriously approach the return to the 40-hour week”

In an interview, Martin Brudermüller uses urgent words to warn against Germany's resistance to reform - and makes concrete suggestions as to how the upswing could succeed.

Brent crude slips as Qatar, Pakistan announce 60-day roadmap for U.S.-Iran deal

Oil prices fluctuated on Monday after U.S. President Donald Trump threatened renewed military action against Iran.

Successor to President Petro: Right-wing lawyer faces victory in Colombia election

Colombia is facing a change in political course: the Trump-supported candidate de la Espriella is unassailable. The government camp wants to have the preliminary results checked.

Moving the goalposts won’t fix sources of Hong Kong poverty

Last week, Xia Baolong, Beijing’s point man on Hong Kong and Macau affairs, made a two-day trip to the city to review the Hong Kong government’s progress across many areas. Everything seems to have been orchestrated with precision. Ahead of Xia’s arrival, the government launched its two-month public consultation on the city’s first five-year plan. The day after Xia concluded his visit, the government released its 200-plus page report on the impact of its targeted poverty alleviation...

Australia makes record cocaine bust after 2.7 tonnes found buried in Sydney

Australian police seized a record 2.7 tonnes of cocaine hidden in plastic tubs buried underground on the outskirts of Sydney, detectives said on Monday. It was the largest cocaine haul in Australian history, a joint organised crime investigation force said in a statement. Police allege a Sydney-based organised crime group arranged for a foreign vessel to offload the cocaine in northern Queensland before moving it to Sydney for distribution. “Investigations into the origin of the drugs remain...

Hong Kong aims to offer more investment options for mainland Chinese: Paul Chan

As Hong Kong marks the 29th anniversary of its return to Chinese rule on July 1, the South China Morning Post talks to the city’s senior officials about the administration’s achievements so far and what may lie ahead. More mainland Chinese investors could gain access to a broader range of products in Hong Kong under a review by authorities, the finance chief has said, dismissing concerns that a recent crackdown on illegal cross-border stock trading could dent the city’s appeal. Financial...

Construction company: Rise: Why Hochtief is now entering the Dax

Whether it's the construction of the Elbphilharmonie or billion-dollar orders for data centers: How the construction company Hochtief rose to the DAX and is benefiting from the AI ​​boom.

Chinese woman suffers red, itchy skin after extreme full-face coverage, sunscreen use

A Chinese woman developed rashes and itching after applying extreme sun protection measures, including wearing a sunscreen product that covers her whole face. The woman from eastern China’s Jiangsu province was recently reported to have developed red and itchy skin while travelling. She applied sun cream before wearing a hat and mask that covers her whole face, to screen herself from the strong sunlight. At the end of the day, she felt hot and had redness on her facial skin. The next morning,...

Canada steps up at Rimpac to rebut Trump’s freeriding charge

Canada is deploying two frigates and a submarine to the world’s largest multinational naval exercise this week, in what analysts describe as both a display of Indo-Pacific seriousness and a pointed rebuttal to Washington’s “freeriding” charge. HMCS Ottawa, HMCS Regina and submarine HMCS Corner Brook are slated to join the biennial Rim of the Pacific Exercise (Rimpac) from Wednesday to July 31, which is expected to draw more than 25,000 military personnel from 31 countries, including Australia,..

Coalition and reforms: Broad debate on pension commission proposals

The Pension Commission makes suggestions for future pension provision. The recommendations met with strong criticism - but also praise.

The AI Arms Race Isn’t About Technology – It’s About Electricity

Two and a half years ago, NVIDIA was a $300 billion gaming chip company. Today it's the most valuable company in history at over $4 trillion. Investors who saw what was coming and got positioned early made generational money. A $10,000 stake in NVIDIA at the start of 2023 is worth more than $130,000 today. The trade looks obvious in hindsight, but very few investors caught it in real time. Demand for AI compute had exploded, the supply of high-end chips couldn't catch up, and NVIDIA happened to

Trump-backed candidate wins razor-tight Colombia presidential vote

A flamboyant US-backed lawyer who has never held public office narrowly won Colombia’s presidential run-off on Sunday, swinging the country hard to the right on a promise to wage war against drug-running guerrilla groups. With more than 99 per cent of polling centres reporting, Abelardo de la Espriella had 49.65 per cent of the vote, an unassailable lead over his rival, left-wing Senator Ivan Cepeda who trailed at 48.70 per cent, according to official results. Cepeda said on Sunday he will await

How does this portfolio look?

Hello! I’m a relatively new investor, and want to get some feedback on what I’m planning on investing in. I’m looking to build a portfolio where I can let my money sit for the next 5-10+ years and not worry too much. All of these are areas I imagine will grow in the next few years. I am about to put some cash into: 60% VOO, just because it’s the SP500, it’s pretty hard to beat 8% QTUM, because I believe quantum is going to become a big deal and become more applicable in the years to come. 8% GRI

Where is Hong Kong 29 years after handover?

Hong Kong to roll out measures boosting offshore yuan trading in July: finance chief

As Hong Kong marks the 29th anniversary of its return to Chinese rule on July 1, the South China Morning Post talks to the city’s senior officials about the administration’s achievements so far and what may lie ahead. Authorities are expected to roll out measures to strengthen Hong Kong’s role as an offshore Chinese yuan hub next month, the finance chief has revealed, with the government pushing to increase the number of listed firms trading stocks in renminbi. Financial Secretary Paul Chan...

Britain’s Energy Crisis Is Driving Manufacturing Offshore

The UK risks a major wave of deindustrialization and widespread factory closures unless the government expands emergency relief measures for manufacturers battling soaring energy costs, a prominent manufacturing trade body has warned, as reported by the Guardian. According to a June 2026 survey by Make UK and the Trades Union Congress (TUC), Britain faces an imminent risk of industrial collapse unless the government provides immediate financial relief to protect manufacturers from surging energy

Construction company: high now in the Dax – share price tripled within a year

Hochtief will move into the Dax for the first time when trading begins on Monday, displacing Porsche SE. What the construction company is building worldwide and why its shares have been so popular recently.

Leading index: Hochtief shares increasingly valuable – construction company now in the Dax

Hochtief moves into the DAX for the first time and displaces Porsche SE. What the construction company is building worldwide and why its shares have been so popular recently.

Hot Take: Gold may underperform in the next few months but is poised to up in the next few years.

Hot Take: Gold may underperform in the next few months but is poised to up in the next few years. Gold has come down significantly from its peak of 5500 earlier this year now trading at around 4100. First off the decline was warranted. Gold ran up WAY too much before the start of Iran war. For an asset class worth close to $25 trillion to rally $1000 in two weeks(happened in January) is an indication of an over extended trade. Having said that futures market isn’t the full picture and hold deman

Documentation: These are the 33 recommendations of the Pension Commission verbatim

Pension reform: On Tuesday, the committee will hand over the proposals to Chancellor Merz and Labor Minister Bas. Handelsblatt now has the exact list of 33 recommendations.

Pension: The 33 recommendations of the Pension Commission verbatim

On Tuesday, the committee will hand over its proposals to Chancellor Friedrich Merz and Labor Minister Bärbel Bas (SPD). For the first time, a detailed list of all proposals is available.

Nie Huihua on the non-Westernness of Chinese government and the challenge to innovation

Nie Huihua, a professor of economics at Renmin University, discusses how an effective understanding of China’s development requires a shift from Western-centric frameworks to an integrated perspective that recognises how formal institutions, informal grass-roots mechanisms and cultural collectivism couple to create a self-consistent and adaptive governance system. SCMP Plus readers get early access to articles in the Open Questions series. You received economics training at Harvard, but your...

People caught vandalising Washington Reflecting Pool to be fully prosecuted

People ⁠caught vandalising the Lincoln Memorial Reflecting ⁠Pool on Washington’s National Mall will be fully prosecuted, US Attorney Jeanine Pirro said on Sunday. US President Donald Trump has blamed vandalism for recent problems with the newly renovated pool, including its new ‌blue paint peeling off. Citations for vandalism have been issued, Pirro said on Sunday, adding that even minor crimes must be prosecuted to keep the US capital safe. The peeling paint was visible in the 610-metre-long...

China-Asean relations are bigger than mere geopolitics

China-Asean relations are usually described in two ways. One emphasises danger: the South China Sea, US-China rivalry, military pressure and risk of Southeast Asia being pulled into China’s orbit. The other emphasises opportunity: trade, infrastructure, investment, supply chains and shared growth. Both are true. Neither is enough. I recently joined a study tour by the University of Hong Kong’s Centre on Contemporary China and the World to Chengdu, Kuala Lumpur and Jakarta. During the trip, I was

Japan's Toto to invest $495m in chip materials, targeting 1-nm era

ByteDance sidelines listing as China's first $1 trillion valuation nears

China crackdown rattles Hong Kong wealth hub status