Bloomberg Jack Ma, the co-founder of Alibaba Group Holding Ltd. and China’s richest man, gave a dire warning that the escalating trade war with the US is going to be severe and long-lived. “It’s going to destroy not only China-US trade, it will destroy a lot of small businesses,” Ma said during a speech at the World Trade Organization on ...

Bloomberg Hong Kong’s securities regulator froze the assets of an unnamed chairman of a public company on suspicion of fraud totaling $1.3 billion. The person may have conducted two suspicious transactions to make significant profits, the Securities and Futures Commission (SFC) said in a statement dated September 17 but published to the city’s official Gazette. It did not name the ...

Bloomberg The Indian government, which seized control of debt-laden financier Infrastructure Leasing & Financial Services Ltd., (IL&FS) has pledged to ensure the beleaguered lender has the money to prevent further defaults. Superseding the board of IL&FS, which has defaulted on more than five of its obligations, was essential to restore the confidence of the financial markets, according to a statement ...