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Bloomberg Tencent Holdings Ltd. and Hillhouse Capital Management Ltd. are joining the throng of financial firms seeking to service the huge number of Chinese investors looking to diversify outside of the mainland. GaoTeng Global Asset Management Ltd., the duo’s one-year-old venture in Hong Kong, plans to start accepting money shortly from retail Chinese investors who have existing assets internationally, according ...

Bloomberg Link Motion Inc., a Beijing-based connected-car firm, said CEO Zemin Xu and two other top executives are resigning. Jia Lian has been appointed acting CEO to restructure management as part of new agreements with Zhongzhi Hi-Tech Overseas Investment Ltd., Link Motion said in a statement late Friday. Chief Financial Officer Roland Wu and General Counsel Justin Chen, who also ...

Bloomberg Hong Kong tycoon Victor Li’s CK Infrastructure Holdings Ltd., which owns energy and water utilities globally, is considering listing some UK assets through a London initial public offering, according to people with knowledge of the matter. CK Infrastructure (CKI) is speaking with investment banks about the listing of certain UK holdings through a potential multibillion-dollar fund, said the people, ...

Bloomberg A Duke Energy Corp. landfill near Wilmington, North Carolina, failed under the assault of Tropical Storm Florence, spilling about 2,000 cubic yards of coal ash that can carry toxic mercury, arsenic and lead. Authorities said they would investigate whether the pollutant had reached the Cape Fear River, but said it was not yet safe to inspect the site. As ...

Bloomberg Aston Martin Chief Executive Officer Andy Palmer said that Brexit is “a disaster for the industry on both sides of the Channel if there is no negotiated exit.” Palmer, a former executive at Japan’s Nissan Motor Co., spoke in an interview with the Mail on Sunday. He joins Jaguar Land Rover CEO Ralf Speth in calling out the risks ...

Bloomberg BMW AG unveiled the latest iteration of its planned electric-car flagship, morphing what started out as low-slung cruiser into a sporty SUV, as the German luxury-car maker scrambles to keep pace with rivals. The iNext concept — revealed inside a cargo plane — is close to the production version, which is set to be released in 2021, according to ...

Bloomberg The world’s biggest app stores are facing increasing pushback by developers over the high costs they charge for connecting their games with users — and new gaming platforms are looking to swoop in. Tallinn-based Ultra will take 15 percent from sales it generates through its digital store, in a bid to challenge companies such as Alphabet Inc.’s Google, Apple ...

The Brexit-battered pound jumped for joy when European Union (EU) trade negotiator Michel Barnier told an audience in Slovenia that a finalized divorce agreement between the UK and the EU is ‘realistic’ in six to eight weeks. That doesn’t mean that we can all exhale by November. The divorce deal – which dictates the amount the UK will pay into ...

It’s lucky for airline executives that they’re a well-paid bunch, because when things go wrong the job’s a living nightmare. Besides the ever-present, low-level risk of a tragic accident, the complexity and customer-facing nature of aviation means that any operational snafu can become a crisis that dominates news coverage for days. Alex Cruz knows this only too well. Since being ...

As bad as the 2008 crisis was, the cure could be worse. After Lehman Brothers fell and the US government stepped in to rescue finance from its worst instincts, many demanded that banking become “boring” again. Stolid lending, it was argued, was what banking should be all about. It’s time to recognize that this was a mistake. Finance is indeed ...