Finance news

Hong Kong property tycoon Mico Chung cashes out of US$13.4 million home on The Peak

A company linked to CSI Properties chairman and founder Mico Chung and his wife has sold a luxury house on The Peak for HK$105 million (US$13.4 million), according to official records. Aqua Sole Company sold the property at 27 Plantation Road to Hu Hanyang in a transaction completed on June 12, according to Land Registry records. Companies Registry filings show that Chung and his wife, Nina Kan Souk-yin, are shareholders of Aqua Sole. The company acquired the property in 1993 for HK$12 million,.

A Naive View of Money and Why It Will End Badly

The foundational belief shared by almost every Bitcoin enthusiast is that money is born purely out of agreement. They look at history and imagine a group of early humans who simply grew tired of trading cows for wheat, decided to invent a neutral token, and began using it to make life easier. In this view, Bitcoin is the ultimate upgrade because it is digital, scarce, and programmed to be secure. Bitcoiners genuinely believe that if enough people online simply decide to trade this digital token

Programming with AI: SpaceX acquires AI start-up Cursor for $60 billion

SpaceX is acquiring Cursor in a mega-deal, a move intended to spur the development of AI-powered programming tools.

Tightened rules: China is catching up in environmental protection

After the green wave, Europe focused on easing the burden on companies. At the same time, China is tightening its environmental regulations. What does this mean for leadership in environmental technology?

Japan's Nikkei clears 70,000 briefly on BOJ relief

SoftBank launches OpenAI cybersecurity in Japan as US restricts rival model

Myanmar's Min Aung Hlaing gains legitimacy with Beijing state visit

Vietnam group plans $360m plane repair hub with Hong Kong, Japan partners

BOJ hikes rates as deputy head warns inflation risks and Iran uncertainties

Hong Kong Science Park, SenseTime partner to build home-grown AI data centre

The Hong Kong Science and Technology Park (HKSTP) and SenseTime, a Chinese artificial intelligence firm headquartered and listed in the city, have partnered to build a home-grown AI data centre by 2030 to support the sector’s industrialisation. The data centre will be built in three stages, with phase one expected for completion by the end of this year, targeting 40,000 petaflops – a measure of computing power used to train AI models – by 2030, the HKSTP said on Tuesday. Terry Wong Ping-sau,...

Yum Brands sells Pizza Hut to private equity firm LongRange Capital for $2.7 billion

Yum Brands is selling Pizza Hut, capping off years of struggles for the pizza chain.

The Italians are crazy

Yesterday was the first day of vacation in a larger vacation resort in northern Italy where we have been several times. Go to one of our regular restaurants there. Food came quickly and was good, service was also good, please pay. Cash or card? Map. Please go in once. On the way in I thought about what it could mean. It should be a little over €50. With the involuntary tip called “cover” probably around €55. But then: €64.70, please. Hmm, strange, I have to

The AI ‘bottleneck trade’ has run its course, says this hedge-fund manager and early SpaceX investor

One hot AI trade that is starting to wind down is the “bottleneck trade,” says Altreides Management managing partner Gavin Baker

A veteran investor is kicking Tesla out of the ‘Magnificent Seven’ — replacing it with this tech giant

T. Rowe Price fund manager David Giroux says Big Tech isn’t in a bubble, but there’s value in healthcare and utilities.

Artificial intelligence: SpaceX wants to buy AI startup Anysphere for $60 billion

Shortly after the IPO, SpaceX wants to take over the programming assistant Cursor. SpaceX could thus replace Amazon in fifth place among the most valuable companies.

Oil prices hit three-month low — but tanker bosses remain cautious on Hormuz transit

Global oil prices tumbled to a three-month low on Tuesday as the Iran peace agreement dominated the G7 meeting in France.

To be America's Top State for Business in 2026, 'speed to market' wins

CNBC’s 2026 America’s Top States for Business rankings is a race as companies chase record investments in AI and defense in deciding where to locate.

Robinhood is cutting 10% of its jobs to keep a ‘high performance culture’

Robinhood’s stock, already riding a four-session winning streak, looked to continue its climb.

Labor market: Skilled labor shortage is decreasing significantly

According to the KfW, the shortage of skilled workers in Germany has recently noticeably weakened. However, staff shortages remain a major challenge in some areas.

Trump urges Russia to ‘make a deal’ with Ukraine after meeting Zelensky at G7 summit

US President Donald Trump said on Tuesday that Russia should make a peace deal with Ukraine, adding that he would do what he could to end the war after a “very good” meeting between President Volodymyr Zelensky and Group of Seven leaders at a summit in France. Trump arrived at the G7 summit in the lakeside resort of Evian-les-Bains brandishing ‌a preliminary deal to end the conflict with Iran and with a renewed focus on finishing the war in Ukraine. Trump cheered his meeting with Zelensky and...

E-car bonus: “A purchase bonus that plays into the hands of Chinese competition misses its target”

German manufacturers apparently hardly benefit from the federal government's new electric car bonus. Calls for corrections are now coming from Berlin, Brussels and the federal states.

Summit on Lake Geneva: G7 wants to increase pressure on Russia

The Europeans and Ukraine want to pressure Russia to return to the negotiating table. At the G7 summit they are bringing an extremely important player on board.

Digital violence: EU Parliament agrees: ban on sexualized deepfake AI

What are ChatGPT, Grok and Co. allowed to do? And who is responsible when pornographic deepfakes are created using AI? The EU has voted on new rules.

As small-cap stock indexes have hit records, this ETF has beaten them

A more selective approach to small-cap indexing has helped this ETF outperform broad indexes.

India’s ONGC Considers Resuming Venezuela Oil Operations

ONGC Videsh Ltd (OVL), the overseas unit of India’s state-owned Oil and Natural Gas Corporation (ONGC), considers reviving operations at its two onshore oil assets in Venezuela as the world’s top crude resource holder is welcoming foreign companies back to its industry. OVL plans to resume its operations in Venezuela even if it still expects about $900 million in dividends due from state oil firm PDVSA for its stake in the two oil concession assets, Indian outlet Economic Times reported on Tuesd

Reform: health insurance companies are calling for the austerity package to be increased

The rapidly rising costs of medical care should be curbed. The coalition is now working on a specific law for this purpose. Will you reach your goal on a tight schedule?

Car costs: Balance on the fuel discount: Not everything was received by the consumer

The Monopolies Commission sees a gap of 100 to 200 million euros, and the Ifo sees deficits, particularly for diesel. Meanwhile, fuel prices are moving towards pre-war levels.

Environmental zones: Without a Crit’Air sticker, holidaymakers in France face a fine

The French environmental sticker was on the brink - now it is clear: it remains. If you want to go on vacation to France in the summer, it's best to have the sticker on your windshield.

China: The taxi driver as an early warning system: Beijing is wooing visitors – and at the same time stoking fears of espionage

The People's Republic is relaxing visas and attracting visitors and investors. At the same time, the authorities warn against foreigners as spies, along with hotlines and rewards. How does that fit together?

Kevin Warsh's Fed is not expected to make any change to rates for a while, according to CNBC Fed Survey

The survey respondents do expect the Fed at this week's meeting to remove the easing bias in the statement that has signaled the Fed's next move would likely be a cut.