Chinese tech companies face more risks in expanding their businesses overseas this year after Donald Trump returns to the White House later this month, with more policies expected to curb the expansion of the industry, according to a UBS analyst. “As the new US government takes office, we expect that there will be more policies … Read more
Artificial Intelligence (AI) integration across diverse industries is already paying off for businesses worldwide. Last year’s bullish US stock market rally led by the “magnificent seven” stocks was rewarding for investors who bet heavily on the AI hype. As investments in AI continue to grow, Wall Street is analysing its impact on economies, labour, and … Read more
Not many parts of China’s economy have been able to withstand the post-pandemic slump. The housing market remains in the doldrums and bank lending has shrivelled. Yet, the appeal of “old money fashion” has endured, even in the face of recession in consumer spending. Discussions on how to define the style, or how to dress … Read more
China’s annual tone-setting economic work conference, which is set to convene this week, is expected to assess mounting challenges and signal intensified policy support, as policymakers seek to stabilise growth amid domestic pressures and external uncertainties, analysts said. Chinese leaders are expected to spend at least two or three days for closed-door exchanges on next … Read more
Former UBS asset manager Helmut Jonen earned a salary of over $322,000 (£253,818) annually over a decade ago. However, he quit the bank once his passive income from investment dividends reached north of $257,000, or 80% of his UBS salary. He achieved this milestone at the age of 52. “This year, I will probably earn … Read more
A 28.5 per cent stock price plunge on Monday that wiped US$55 billion off the valuation of PDD Holdings, the owner of shopping apps Temu and Pinduoduo, reflected “shaken investor confidence” in its future after top management dumbfounded investors by playing down profit prospects, analysts said. Nasdaq-listed PDD, a rival of Alibaba Group Holding in … Read more
“Given the cross-border nature of these transactions, it’s logical for both parties to agree on a dispute resolution method and set Hong Kong as the arbitration venue,” said Wu Libin, senior partner at M&T Lawyers. “However, many merchants are unfamiliar with Hong Kong’s legal framework, and the high costs of litigation pose a significant barrier … Read more
Switzerland’s biggest bank said turnover increased by 46 percent to $12.7 billion AFP Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse. Switzerland’s biggest bank said turnover increased by 46 percent to $12.7 … Read more
Chinese internet firms can look to chase growth through international markets and artificial intelligence (AI) in 2024, according to UBS. China’s e-commerce platforms, facing intense domestic competition with new rivals and short-video app operators, are ramping up overseas expansion, Kenneth Fong, head of China internet research at the Swiss investment bank, said in a briefing … Read more
