The Jardine Foundation, established by Hong Kong-based Jardine Matheson, will cease its 44-year-old undergraduate scholarship program for Oxford and Cambridge universities after the 2026 awardees. Following a strategic review, funds will be redirected to support students at leading universities in Asia.
Warren Buffett declined an audience member's request to contact Jimmy Buffett for help saving Cypress Gardens, explaining his policy against leveraging friendships for causes, even those he believes in, to maintain genuine relationships and avoid perceived obligation.
Adani's Carmichael thermal coal operations in Queensland generated almost $1 billion in revenue but reported a $340.6 million loss, avoiding company tax for the past year and since opening in 2021. The Abbot Point port business also paid no tax, prompting calls for new regulations on foreign entities' capital structures in Australia.
The EU Council has added Russian investment company AFK Sistema and its first vice president, Felix Yevtushenkov, to its sanctions lists. The EU cites Sistema's significant income generation for the Russian government and Yevtushenkov's affiliation with his already sanctioned father.
The Hill, a digital-first news publication, is launching a new subscription service called The Hill Insider. The service offers premium content like newsletters and video calls, with basic and premium tiers costing $5.99 and $9.99 per month respectively. The main website will remain free.
South Korea's Financial Services Commission and Korea Exchange introduced new rules for "split listing" by conglomerates, aiming to protect ordinary shareholders and boost stock values. The guidelines limit major shareholder voting rights and require parent companies to assess and mitigate the impact on shareholders.
Thailand's Bangchak Corporation acquired Chevron Hong Kong, including 31 Caltex petrol stations, for HK$2.1 billion (US$270 million). The deal serves as Bangchak's entry into North Asia, with Caltex branding maintained under a licensing agreement with Chevron.
Japan's SBI Holdings will acquire full control of crypto exchange Bitbank for 46.7 billion yen ($289 million) by October, pending regulatory clearance. This deal, combining Bitbank with SBI VC Trade, is set to create the country's largest crypto exchange by assets under custody and expand SBI's digital asset ecosystem.
Jaguar Land Rover (JLR) may face delays in electric car battery deliveries from the Agratas gigafactory in Somerset, UK, due to construction problems. Agratas terminated its main contractor, Sir Robert McAlpine, and replaced it with Tonroe Group Ltd, pushing the start date further back from an already delayed January 2028 target.
Six multinational construction equipment firms, including Caterpillar and Volvo, face allegations of aiding war crimes by supplying excavators to Israel. Verified images show Israeli military using their equipment to demolish villages in south Lebanon, prompting calls for companies to halt supplies.
Xi'an UniIC, a Chinese DRAM manufacturer, is nearing its public listing in Beijing after completing its IPO tutoring phase. This move follows its rival CXMT's massive listing approval and reflects a broader trend of Chinese memory chipmakers seeking capital to capitalize on the AI-driven global demand for memory products.
Protests in Southampton, UK, turned violent after the murder of 18-year-old Henry Nowak. Demonstrators clashed with police, hurling objects. The incident follows the conviction of Vickrum Digwa for Nowak's murder. Far-right activist Tommy Robinson and politician Nigel Farage addressed the crowd, while PM Keir Starmer criticized Farage's divisive comments.
Protests in Southampton, UK, turned violent as hundreds gathered over the murder of 18-year-old Henry Nowak. Demonstrators clashed with police, chanting Nowak's name. The case involves Vickrum Digwa, found guilty of murder, who falsely claimed a racist attack.
Protests in Southampton, UK, turned violent as hundreds gathered over the murder of Henry Nowak. Anger over the conviction of Vickrum Digwa, who falsely claimed a racist attack, led to clashes with police.
Two Hong Kong media groups and Kazakhstan's Khabar Agency signed an MOU to promote 'accurate narratives' and facilitate journalist exchanges. The South China Morning Post also partnered with Kazakhstan's special financial zone to boost ties.
The Enforcement Directorate (ED) conducted searches against Vedanta Group on Monday as part of an investigation under the Foreign Exchange Management Act (FEMA). The mining conglomerate, promoted by Anil Agarwal, is cooperating with the authorities.
Shinsegae executive Chung apologized for a tumbler promotion that coincided with the Gwangju Democratic Uprising commemoration, drawing criticism for its perceived insensitivity and references to past human rights abuses.
Cash holdings at traditional industry companies listed in Hong Kong and Shanghai have increased, contrasting with tech firms investing in AI. Companies are deploying capital towards buy-backs and dividends due to subdued confidence and weak investment appetite.
Starbucks Korea's head was fired after a "Tank Day" promotion sparked outrage in South Korea, where it evoked memories of military crackdowns on pro-democracy protesters.
Warren Buffett's Berkshire Hathaway likely made a "tiny purchase" of Macy's stock in Q1, a filing revealed. The $55 million stake fits Buffett's description, unlike a larger Delta Air Lines investment. Buffett remains involved in investments despite stepping down as CEO.
Phu Quoc's US$5.2 billion summit project, including airport overhaul and infrastructure, faces significant delays 18 months before the November 2027 event. Shortages of workers, materials, and unfinished construction plague the development.
Guy Bradley, 60, succeeds Patrick Healy as chairman of Cathay Pacific Airways and Swire Coca-Cola, focusing on enhancing performance and Hong Kong's aviation hub status.
Allen, a media entrepreneur, to replace founder Jonah Peretti as chief executive with ‘significant’ cost cuts to comeBuzzFeed, the digital media pioneer that was once valued as high as $1.7bn amid a private equity-funded wave of interest in websites that generated massive amounts of online traffic in the 2010s, has finally changed hands for $120m.On Monday, the company announced that a controlling stake in the company has been sold to media entrepreneur Byron Allen. Allen, who often makes large, sometimes unsolicited bids for media companies, is also an on-screen personality in addition to controlling his Allen Media Group conglomerate, which owns networks including The Weather Channel. Allen’s show, Comics Unleashed, will replace the Late Show with Stephen Colbert on CBS’s schedule starting later this month. Continue reading...
CK Hutchison Holdings’ shares climbed to their highest level since 2020 after the conglomerate announced plans to exit the UK mobile market, signalling that investors believe the Li family may once again have timed an industry peak before the broader market. Shares rose about 12 per cent to HK$73.30 on Monday from the May 5 close, after the company said it would sell its 49 per cent stake in VodafoneThree for US$5.8 billion. CK Hutchison said the disposal was expected to generate a gain of about...
