Lee Shau Kee, the billionaire chairman of Henderson Land Development Co., has said he will donate HK$1 billion ($128 million) to charity each year that the Hang Seng Index stays above 30,000, and double that if it reaches 40,000. The 89-year-old should be prepared to hand out the cash. Sure, Hong Kong’s benchmark gauge closed above 30,000 on only one ...

Should central banks embrace cryptocurrencies, or even pioneer their own? In a nutshell, no. Crypto assets are an unusual innovation, still in flux and often poorly understood. Trying to centralize them in a bureaucracy is exactly the wrong way to go. Yet China’s central bank claims it is working towards a blockchain-based digital currency. Singapore has already experimented in this ...

Bloomberg The European Central Bank is sticking to the substance of its plan to toughen bad-loan rules for euro-area banks even as it makes some adjustments in response to a barrage of criticism from Rome and Brussels, according to people with knowledge of the matter. The ECB was accused of overreach in its recent proposal to hold banks to firm ...