Finance news

4 schools to close, 8 to merge with others after failing to meet enrolment quota

Four out of 15 public primary schools in Hong Kong with insufficient enrolment will cease operations, eight will merge with other institutions, while two others will operate self-financing Primary One classes in September, according to education authorities. Representatives from a schools council and a principals’ association said on Wednesday that they expected more institutions that fell short of enrolment quotas to proactively seek mergers to avoid “last minute” problems, adding that schools.

Petroleum company: BP sells Gelsenkirchen refinery – EU gives green light

One of Germany's largest refineries is set to change ownership. BP wants to sell the Gelsenkirchen refinery to the Klesch Group. Now the EU Commission agrees.

Chinese brands gain as Europe car sales rise - Reuters

Chinese brands gain as Europe car sales rise Reuters

Underage dating claims left Kim Soo-hyun in tears, but he stands vindicated a year later

A year after South Korean actor Kim Soo-hyun broke down in tears at a high-profile press conference over allegations involving late actress Kim Sae-ron, the controversy has entered yet another dramatic phase. Kim Se-ui, head of controversial YouTube channel HoverLab, also known as Garo Sero Institute, was taken into custody this week, as police reportedly concluded that audio files previously presented as evidence against Kim Soo-hyun were generated using AI technology. According to the Seoul...

War: Russia and Ukraine attack each other with heavy attacks

While there is a standstill at the front in the Ukrainian war, cities in the hinterland of the two war opponents are increasingly becoming the scene of conflict. There was heavy shelling again at night.

Wealth: Wealth over centuries – what are the Fuggers doing with their money today?

Alexander Fugger-Babenhausen is the 16th generation of the Augsburg merchant family. How wealth transfer succeeds over centuries - and what price the hereditary count pays.

Chip company: Nvidia plans to invest $150 billion annually in Taiwan

A time frame over how many years the company plans to invest the amount is not known. According to Nvidia boss Huang, Taiwan is the “epicenter” of the AI ​​revolution.

Interview: Insolvency administrator: “Every measure that costs something has to be approved by me”

Susanne Berner is one of the most frequently appointed insolvency administrators in the country. In the interview she explains why companies are increasingly finding themselves in crisis and what has become significantly more difficult.

Heat wave: French electricity prices rise due to nuclear power concerns

A heat wave in France is causing river temperatures to rise. Experts fear that electricity production from nuclear power plants could also suffer.

Samsung: Employees receive around $400,000 bonus

A general strike at Samsung would have severely dampened South Korea's economic growth. Now the majority of employees have approved the record bonus program after hefty company profits.

US elections: US federal court stops electoral district reform in favor of Republicans

The US President suffers two defeats in the dispute over the design of constituencies. Not only is a court prohibiting a redistricting - senators are also blocking a new division.

From wedding photographers to farm gadgets, Chinese campaign warns of spy risks

Foreign spies in China have disguised themselves as wedding photographers near naval ports, or have collected mapping data using advanced radar and GPS optical lenses mounted on cars under the cover of autonomous driving research, according to China’s top body protecting state secrets. The National Administration of State Secrets Protection warned of foreign spies’ “eyes in the dark” in its latest anti-espionage documentary aired on CCTV national television on Tuesday. “In real life, the...

China says Panama ties should not be subject to third-party interference, Xinhua reports - Reuters

China says Panama ties should not be subject to third-party interference, Xinhua reports Reuters

DAX group: Siemens wants to strip executives of their boss titles

The DAX group is carrying out one of the largest reorganizations in its history. Hundreds of CEOs and CFOs could lose their titles. Many employees apparently underestimate the consequences.

Business confidence in China rebounds: EU Chamber of Commerce survey

China drops hammer on cross-border stock trading: 5 things to know

Real estate in court: A co-tenant moving out justifies subletting

If a resident of a shared apartment moves out permanently, the rest can be sublet. General landlord objections are not enough.

US bonds about to bite stocks - Reuters

US bonds about to bite stocks Reuters

Errant Ukrainian drones fuel tensions on NATO's eastern flank - Reuters

Errant Ukrainian drones fuel tensions on NATO's eastern flank Reuters

Wealth in Germany: 5,000 super-rich already own 27.3 percent of financial assets

A small elite owns large parts of Germany's financial assets. Why wealth is accumulating - and what is dampening the accumulation of wealth across society.

SpaceX's Starship test strengthens IPO case, though hurdles remain - Reuters

SpaceX's Starship test strengthens IPO case, though hurdles remain Reuters

Job ad for shepherds goes viral in China, exposing labour market strains - Reuters

Job ad for shepherds goes viral in China, exposing labour market strains Reuters

Electromobility: Electric cars are giving Europe's car market a boost

Government purchasing programs and tax advantages for electric cars played a major role. Things went up in all European countries – with one exception.

Golden Knights sweep Avalanche to advance to third Stanley Cup Final in nine seasons - AP News

Golden Knights sweep Avalanche to advance to third Stanley Cup Final in nine seasons AP News

China adds AI chips to secure technology assessment list amid US curbs

For the first time, China has included artificial intelligence chips in its official “secure and reliable” technology assessments, expanding the scope of a state-backed drive to adopt domestic alternatives to Western products. The China Information Technology Security Evaluation Centre and the National Secrecy Science and Technology Evaluation Centre released the latest batch of assessments on Tuesday, creating a new category for “AI training and inference chips”. The certifications were valid..

China film about woman whose killing of husband framed as result of domestic violence banned

A feminist film which won an award at an international film festival last year has been ordered to withdraw its coming release for violating the law in China. The film Her Heart Beats in Its Cage was scheduled to be screened in mainland cinemas on May 30. But on May 21, Shanghai Film Bureau announced the release should be stopped because the film had breached the law when applying for its production and for its public release. The authority said it had recently launched an investigation after...

US Government: US Secretary of Health and Human Services grabs snakes with bare hands

Robert F. Kennedy Jr. caused a stir when he picked up two snakes in his hand during a visit to Florida. His wife is audibly worried.

Europe’s Arctic Oil Dilemma Deepens as Supply Fears Grow

A dozen financial institutions from Scandinavia have urged the European Commission to remain firm in its opposition to Arctic oil drilling even as the bloc faces physical oil shortages in weeks, according to energy experts. “The Arctic is one of the planet's most vulnerable ecosystems and home to unique wildlife .... Further oil and gas expansion would add pressure to these globally significant ecosystems, by increasing the risk of oil spills and leakages,” the lenders said in a letter organized

‘Local or global?’ Lawmakers seek clarity on costly Northern Metropolis fencing arena

Hong Kong lawmakers have called for greater clarity on a proposed HK$10 billion project featuring a fencing arena in the Northern Metropolis, questioning its “immense cost” and whether it is meant to host international tournaments. Permanent Secretary for Development Doris Ho Pui-ling on Wednesday defended the massive price tag, saying the government had sought to keep construction costs down and invited tenderers to propose further cost-cutting measures. She added that more details would be...

Markets: What is likely to move the Dax today

The German benchmark index is expected to be higher on Wednesday. Tensions between the US and Iran remain in focus.