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Asian Stocks Continue Plunge
Asian Stocks Continue Plunge
UPDATED
Jan 22, 2008 3:25 AM CST

Asian Stocks Continue Plunge

Stocks tumble for second straight day

(Newser) - Jitters over the US economy led to a major sell-off in Asian markets for the second straight day, with Australia's benchmark index closing down 7.1%—the biggest single-day loss in nearly 20 years. India's Sensex index skidded 10%, triggering a shutdown, but rallied to close down 4.6%. Japan's...

China Allows Hong Kong to Vote in 2017

Enraged by delay, democracy activists condemn decision

(Newser) - Reacting to years of pro-democracy rallies in Hong Kong, China agreed today to let the territory elect a leader in 2017 and a legislature in 2020, BBC reports. Hong Kong Chief Executive Donald Tsang had lobbied Beijing for elections by 2012, but hailed today's news as a "hard-earned opportunity....

Oil Slick Reaches South Korean Shore

Worst spill in country's history threatens scenic coastline, maritime park

(Newser) - Emergency workers in South Korea are struggling to contain a 12-mile-long oil slick that has reached an ecologically sensitive shoreline on the Korean west coast. The oil spilled when a barge broke loose from the tug that was pulling it, and slammed into a Hong Kong-registered supertanker. The spill threatens...

China Spoils Holiday Reunion for US Sailors

It denies permission for Kitty Hawk to stop in Hong Kong

(Newser) - China put a damper on Thanksgiving for 8,000 US sailors and airmen, Reuters reports. Beijing denied permission for the USS Kitty Hawk and its support group to stop in Hong Kong, where hundreds of relatives had gathered for a holiday reunion. Beijing eventually relented, but it was too late—...

Criminal Probe in Bay Oil Spill
Criminal Probe in Bay Oil Spill
Nov 12, 2007 6:09 AM CST

Criminal Probe in Bay Oil Spill

Communication, management problems on Hong Kong ship

(Newser) - A criminal probe into the oil spill off San Francisco was launched yesterday as federal investigators began to question the crew of the Hong Kong ship that hemorrhaged 58,000 gallons of fuel oil after crashing into the Bay Bridge last week. The Coast Guard contacted the US attorney's office...

Alibaba Nearly Triples Price After IPO

Chinese B2B site is largest e-commerce offering since Google

(Newser) - Chinese business-to-business platform Alibaba held its IPO on the Hong Kong stock market today, nearly tripling in share price in first-day trading. The company raised $1.5 billion (US) by selling just 17% of its shares. "I think Alibaba's share price is way ahead of its fundamentals; I think...

Asian Markets Dive on US Fears
Asian Markets Dive on US Fears
Nov 2, 2007 5:44 AM CDT

Asian Markets Dive on US Fears

Asian markets decline sharply

(Newser) - Stocks plummeted across Asia today, sustaining the biggest losses in more than two months after concerns that Citigroup might be short of cash rattled investors. Mitsubishi UFJ, the largest bank in Japan, dropped 6% as the Nikkei fell to 16,517.48, a 2.1% fall. Financial shares led the...

TJX Data Breach Exposed 94M Credit Cards

Still no arrests after up to $83M is spent with stolen numbers

(Newser) - Cyber thieves have pinched 94 million credit cards from a discount retailer—double the last estimate—and spent up to $83 million as far as Hong Kong and Sweden, the AP reports. Banks are now suing the retailer, TJX Cos., to recover their losses. But those losses keep growing: "...

Asian Markets Soar After Fed's Rate Cut

Stocks see biggest jump in 5 years as panic gives way to optimism

(Newser) - The global equities sell-off ground to a halt today as Asian stocks had their biggest gains in five years. Responding to Friday’s cut in the US Federal Reserve’s discount rate, Japan’s Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi indexes all saw huge gains as...

Asian Stocks Take a Dive
Asian Stocks Take a Dive
Jul 27, 2007 7:52 AM CDT

Asian Stocks Take a Dive

Prices plunge in response to US subprime mortgage crisis

(Newser) - Share prices plummeted throughout Asia  today in response to the yesterday's sell-off on Wall Street and the escalating crisis in the US housing market. After the 300-point plunge in the U.S., the Tokyo Market closed at a three-month-low, and markets in Seoul, Hong Kong, and Sydney also took serious...

$600 Coffee 'Processed' by Civets
$600 Coffee 'Processed'
by Civets
Jul 13, 2007 5:49 AM CDT

$600 Coffee 'Processed' by Civets

Java-lovers' treat plucked from droppings of animals who gorge on beans

(Newser) - Move over, Starbucks. Hyper coffee connoisseurs are coughing up $600 for a pound of the world's priciest coffee, a blend plucked from the droppings of a civet, a small Indonesian mammal that forages for fresh coffee beans. Fans describe the taste of kopi luwak as earthy, with a note of...

Thousands March for Democracy in Hong Kong

Residents demand universal suffrage

(Newser) - Hong Kong observed the 10th anniversary of the handover to China today as tens of thousands took to the streets for the now-traditional annual pro-democracy rally. Beijing appears no more amenable to universal suffrage, however—Hu Jintao was in town to swear in the territory's new chief executive and his...

Hong Kong Poised to Become Asia's Big Apple

Port city turning into financial capital

(Newser) - Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political...

World's Top 50 Business Centers
World's Top 50 Business Centers
Jun 14, 2007 8:20 PM CDT

World's Top 50 Business Centers

(Newser) -
  1. London
  2. New York
  3. Tokyo
  4. Chicago
  5. Hong Kong

China Eases Up Slightly on Tiananmen Anniversary

Government allows memorials for the first time

(Newser) - As part of its campaign to attract Western visitors to the 2008 Beijing Olympics, China allowed Tiananmen Square memorials this year for the first time since the protests of June 4, 1989. The government maintains that the uprising was a counterrevolutionary riot and refuses to release details; a security crackdown...

Journal Offer Prompted Insider Trading, SEC Says

(Newser) - The SEC has filed its first suit for insider trading involving Rupert Murdoch's bid to buy the Wall Street Journal's parent company. The agency alleges a Hong Kong couple knew about the offer when they bought $15 million of Dow Jones stock in April and sold it for an $8....

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