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New World Development Co., the cash-strapped property developer, is in talks to sell its 50% stake in a portfolio of three Hong Kong hotels valued at a total of $2 billion, people familiar with the matter said.
Source
Bloomberg Markets
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The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates.
UniCredit SpA has submitted its Commerzbank AG takeover proposal to the target’s shareholders, initiating a six-week period that will decide the German lender’s independence.
Hong Kong’s economy expanded at its fastest pace in almost five years, as old growth drivers like tourism and retail spending cushioned the blow from the global energy crisis caused by the war in Iran.
HSBC Holdings on Tuesday said it’s made a big push into digital assets, including a tokenized gold product that’s already seen $1 billion in value traded, as the bank’s stock slumped on unexpectedly high provisions.
