In selecting AIA Group Ltd.’s Chief Executive Officer Mark Tucker as its new chairman, HSBC Holdings Plc has gotten the right guy. Let’s hope the bank’s rather insular culture gets him. To understand why HSBC has gone outside its fold for the first time in its 152-year history, take a look at AIA’s profitability. The insurer’s stock has more …

  It’s never smart to keep hungry people waiting for their food. They turn ‘hangry.’ No one has mastered this idea better than Chinese takeout restaurants, which have put a premium on speed ever since they emerged in the 1800s. That’s when a wave of Chinese immigrants came to the US and opened up cheap and cheerful restaurants catering to …

DUBAI / Reuters Gulf stock markets were mixed on Tuesday with a retreat by Shuaa Capital helping to dampen Dubai while the success of the Kuwait government’s debut international bond issue buoyed that market. The Dubai index fell 0.9 percent as Shuaa dropped 4.2 percent. It had risen more than 18 percent to a seven-year high in the previous two …

  SEOUL / AP Global stocks drifted lower on Tuesday as investors looked to the Federal Reserve’s policy meeting for an expected interest rate increase and hints on future hikes. Britain’s pound fell after the country’s parliament cleared the way for Britain to start its exit process from the European Union. Britain’s FTSE 100 shed 0.1 percent to 7,358 while …

  Bloomberg Charlotte Hogg resigned from the Bank of England after criticism from lawmakers for failing to disclose that her brother works for a bank she would help to regulate. The resignation is an embarrassment for the BOE and puts it under pressure to show it’s learned from two potential conflict of interest issues in the past few years. Hogg, …

  Bloomberg Singapore banned former Goldman Sachs Group Inc. banker Tim Leissner from the securities industry for 10 years and said it plans to issue similar orders against three others caught up in the scandal surrounding 1Malaysia Development Bhd. Leissner, who left Goldman Sachs in February 2016, was sanctioned because he issued an unauthorized letter to a financial institution and …

  Bloomberg South Africa’s banks are going on the offensive after being criticized by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them of monopolizing the financial services industry, and questioned whether they colluded when closing accounts belonging to members of the wealthy …

  Bloomberg China’s policy makers support opening financial markets for capital and investment to flow both in and out of the country, according to central bank Deputy Governor Pan Gongsheng. China will push ahead on oversight and enforce existing regulations on foreign exchange, Pan said in an interview Sunday with Bloomberg News and Caixin Magazine. Scrutiny of foreign companies transferring …

  Bloomberg When global banking regulators met in secret in a London conference room to try to clinch a deal on capital rules, European industry lobbyists were nowhere in sight. They didn’t have to be. European Union officials at the meeting in December doubled down on their call to soften rules pushed by the U.S., concerned they would penalize the …

  Bloomberg Intel Corp. will acquire Mobileye NV for about $15 billion, paying one of the highest takeover premiums this century to play catch-up in the market for technology that helps cars drive themselves. The US chipmaker will pay $63.54 per share in cash for Jerusalem-based Mobileye, which makes chips for cameras and driver-assistance features. The offer, the largest ever …