Exclusive: Chapel Down eyes expansion and new winery after online sales boost Exclusive: Chapel Down to build new winery after seeing online sales boost England’s largest winemaker, Chapel Down, plans another vineyard and build a new winery to expand its production after seeing online sales boost during the pandemic period. In July, Chapel Down completed a £6.8m fundraising round via equity crowdfunding site Seedr to help continue its growth. In an interview with City A.M., Chapel Down’s chief executive, [...]
Analysts: China’s tech crackdown could backfire as it may hamper economy Analysts caution China’s economic growth could slow down if Beijing continues to target private enterprises that power the country’s economic success. Beijing’s sweeping regulatory crackdowns have spread like wildfire across sectors, ranging from technology and internet algorithms to online gaming and tutoring. Ross Terrill, a research associate at Harvard’s Fairbank Centre for Chinese Studies, told [...]
Hong Kong plans risk management rules to prevent Archegos-like scandals Hong Kong plans new risk management to prevent Archegos-style scandal Hong Kong’s market regulator is reportedly developing a track exposure mechanism to dangerously concentrated stocks to prevent financial debacles like the Archegos collapse. The project will use centralised trade databases to identify excessive risk-taking by banks and investment funds trading derivatives in the city, reported Financial Times. The Hong Kong Monetary Authority and the Securities [...]
Gaming shares slide after China puts limits on kids playing online games August 31, 2021 China’s new rules forbidding under-18s from playing online games for more than three hours per week to curb youth video game addiction. China’s National Press and Publication Administration announced yesterday that gamers under 18 are only allowed to play online between 8-9 pm on Fridays, weekends and holidays. The authorities have instructed gaming companies to [...]
Tiananmen vigil organiser in Hong Kong awaits final vote to disband August 24, 2021 A group called The Hong Kong Alliance in Support of Patriotic Democratic Movements of China, which organised an annual Tiananmen vigil in the city, has reportedly decided to disband. The group’s standing committee held a special meeting yesterday and decided to disband the embattled organisation amid political pressure, reported South China Morning Post. The disbandment [...]
Hong Kong’s new censorship rules will ban some films based on ‘national security’ August 24, 2021 Hong Kong authorities have proposed a series of law changes to scrutinise previously approved films and new productions which it deems threats to national security. The city’s government announced today to amend the Film Censorship Ordinance, which requires censors to assess a product’s impact on national security before offering their endorsement. The new arrangement will [...]
SEC issues new disclosure rules for Chinese companies to list in New York August 24, 2021 The US Securities and Exchange Commission (SEC) has issued new disclosure requirements to Chinese companies seeking to list in New York amid Beijing’s regulatory crackdown. The SEC has started to give some Chinese companies detailed instructions about greater disclosure of their use of offshore vehicles, known as variable interest entities for IPOs, implications for investors, [...]
Lloyds hires Barclays exec to lead debt capital markets division August 23, 2021 Barclays exec Miray Muminoglu has been appointed as the new head of Lloyds Bank’s financial institutions debt capital markets and securitised products group. Muminoglu, who currently works as managing director, head of term funding within Barclays’ group treasury unit, will join Lloyds Bank in London this November, reported Financial News. Muminoglu has over 30 years [...]
Hong Kong: Quarantine-exempted Nicole Kidman’s trip may be ‘costume fitting’ August 23, 2021 Hong Kong’s commerce minister defended today his decision to exempt Hollywood star Nicole Kidman and other crew members from serving mandatory Covid quarantine. Local media reported that the Oscar-winning actress was shooting in a crowded street market in Kowloon for the new Amazon Prime Video series Expats, highlighting the lives of wealthy and glamorous ex-pats. [...]
Chinese EV maker BYD’s shares rise despite chip-making unit’s IPO plan pausing August 23, 2021 Chinese electric car manufacturer BYD has been forced to suspend the proposed listing of its computer chip-making unit amid a regulatory probe into the law firm advising the company. BYD Semiconductor applied to list on Shenzen’s Nasdaq style market ChiNext in May and sought to raise at least $421m from the sale of shares. The [...]
