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Renting in London - 'I pay £2,000 for one bedroom'

Oct 23, 2026

We ask people in the capital how much they pay for their homes.

'I live in the dark': How rising bills are shaping daily life

Oct 23, 2026

'I'm 96 and have 15 million followers': The grannies taking over TikTok

Oct 22, 2026

Grid operator says lights will stay on this winter after concerns

Oct 22, 2026

L'Oreal says weight loss drugs are impacting beauty and skincare sales

Oct 22, 2026

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Oct 22, 2026

What Is PHP? Why Are Government and Business Websites Going Offline?

A critical security flaw in the programming language underpinning much of the web has prompted a global rush to patch vulnerable systems.

Oct 22, 2026

Monet Painting Sells for $56 Million in France

Oct 22, 2026

Stocks See Steepest Decline in Months Amid A.I. Worries

Oct 22, 2026

Mortgage Rates Remain Above 7%, Pushing Home Prices Lower in Some Areas

Oct 22, 2026

Zuckerberg wins Meta deal to help him foot bill for possible California billionaire tax

Interesting Read

Chinalco sets up treasury centre in Hong Kong

Aluminum Corporation of China, known as Chinalco, has established a corporate treasury centre in Hong Kong to manage the state-owned giant's offshore funds, Invest Hong Kong announced on Friday. The new entity, Chinalco Treasury Management Co Ltd, will centrally manage the group's offshore funds and handle offshore financing, exchange rate and interest rate risk management, as well as integrated financial services. Director-General of Investment Promotion Alpha Lau said the move demonstrates Hong Kong's strengths as the first port of call for mainland firms going global and as a hub for corporate treasury centres. "As the world's largest offshore Renminbi hub, Hong Kong can provide enterprises with cross-border Renminbi settlement, multi-currency fund management and risk hedging capabilities," Lau said. She added that she hopes Chinalco will use the treasury centre as a starting point to further establish commodity trading functions in Hong Kong, combining the city's pricing, clearing, financing, and warehousing networks with the company's own industrial strengths to create synergy. Chinalco Chief Financial Officer Wang Xin said Hong Kong's foreign exchange market – the fourth largest in the world – together with its well-developed channels for Renminbi financing and trade settlement, and its unique advantage of connecting to the mainland, will help the group manage its global funds in a more efficient and effective way. "In the future, Chinalco Treasury will build a fully functional offshore fund management platform for the group. All funds will be pooled, all settlement will be centralised and all risks will be controlled," she said. Founded in 2001, Chinalco is a key state-owned enterprise under the direct administration of the central government, with an industrial chain covering more than 20 non-ferrous metals. It has been on the Fortune Global 500 list every year since 2008 and operates in more than 20 countries and regions. Edited by Aaron Tam

Oct 23, 2026

HK bounces back as regionals continue to weaken

Mainland stocks extended losses on Friday, tracking broad weakness across global markets, as a selloff in tech shares on Wall Street weighed on investor sentiment. In Hong Kong, the benchmark Hang Seng Index rebounded back above 23,000 to open up 93 points, or 0.41 percent, at 23,027. The China Enterprises Index was 55 points, or 0.72 percent, higher at 7,744 while the tech index moved 19 points, or 0.51 percent, up to 3,813. Further north, the Shanghai Composite Index opened down 34 points, or 0.94 percent, at 3,623 while the blue-chip CSI300 index lost 1.1 percent. Both key mainland indicess added to losses from the previous session, when the CSI300 posted its lowest close since July 2025 and the Shanghai benchmark ended at its weakest level in more than a year. The CSI300 index is now down more than 20 percent from its most recent closing peak on June 22, meeting some definitions for confirmation of a "bear market". By the most widely accepted definition of the term, it has been in one ever since a 2007 closing-level high. "Three converging forces: a deepening selloff in AI-related technology stocks, escalating Middle East tensions following deadly attacks on Saudi Aramco infrastructure, and intensifying stress in French sovereign debt markets, triggered a sharp risk-off rotation across global markets overnight," analysts at UOB said in a note. The Shenzhen Component Index opened down 169 points, or 1.49 percent, at 11,187 while the ChiNext Index opened down 42 points, or 1.66 percent, at 2,534. In Tokyo, the Nikkei opened 240 points, or 0.38 percent, lower at 62,667, plunged straight down after that to 61,528 and was 1,239 points in the red at one stage before noon. In Seoul, the Kospi fared better than Japanese stocks, opening 130 points, or 2.36 percent, down at 5,403, went into a short plunge and was 140 points lower at one stage before lunch. (Additional reporting by Reuters) Edited by Aaron Tam

Oct 23, 2026

Japan braces for rate hike as inflation accelerates

Inflation in Japan accelerated sharply in September, official data showed on Friday, rising above the Bank of Japan's (BoJ) target level and paving the way for a further interest rate hike. The acceleration was driven in particular by rising prices for processed foods against a backdrop of soaring energy costs owing to the conflict in the Middle East. Excluding volatile fresh produce, inflation was 2.1 percent, up from 1.7 percent in August, according to the internal affairs ministry reading. The figure was in line with market expectations and above the 2.0 percent target set by the central bank, further raising chances of an interest rate hike. "With underlying inflation back above the Bank of Japan's 2 percent target, the case for further tightening remains on solid ground," said Abhijit Surya of Capital Economics. "News reports suggest that the Bank may revise up its inflation forecasts at its October meeting. That should set the stage for another hike in December." The BoJ already raised interest rates in mid-September, in line with other major central banks around the world, in an effort to counter strong inflationary pressures driven by soaring energy prices triggered by the Iran war. A weak yen is also driving up the price of imported goods. Rents and automobile-related costs also contributed to inflation, the data showed. Surya, of Capital Economics, said rent inflation matched "its highest rate in nearly 25 years". But government support for petrol and electricity fees mitigated the impact on energy prices, according to the internal affairs ministry. Excluding both food and energy, inflation stood at 2.4 percent, above market expectations, following a figure of 1.9 percent in August. The government is trying to mitigate the impact of inflation on household purchasing power, notably with a massive stimulus package adopted at the end of 2025 and extensive tax breaks on energy. Japanese Prime Minister Sanae Takaichi's two predecessors were undone by anger over inflation. The government said it would slash consumption tax on food products from eight percent to one percent for two years, starting in April. However media reports said this will cost the government 10 trillion yen, or about US$63 billion, in lost tax revenues. Edited by Cecil Wong

Oct 23, 2026

US stocks fall as AI doubts ignite tech selloff

US stocks tumbled on Thursday and the Nasdaq posted its steepest daily drop since early June as a batch of high-profile earnings reports ignited fresh fears about the AI spending race. The S&P 500 ended deep in negative territory. But the tech-laden Nasdaq, dragged down by microchips, suffered a steeper loss, falling 2.6 percent in the wake of a spate of high-profile AI-related earnings results. The blue-chip Dow eked out a nominal gain minutes before the closing bell. Meta Platforms' results beat analyst expectations, but its stock slid 7 percent as the Facebook parent posted its first cash outflow in more than a decade due to its AI-related expenditures and announced plans to issue non-voting shares in a two-for-one split to raise capital to spend on the nascent technology. Tesla shares fell 3.1 percent even though the electric car maker unexpectedly posted positive free cash flow in the quarter and cut its 2026 capital spending plans. The Philadelphia SE Semiconductor Index, which has driven much of the current bull market's gains, plunged 6.7 percent, its biggest daily percentage drop since June 23. "It's a wonderful day on Wall Street," said Paul Nolte, senior wealth adviser & market strategist at Murphy & Sylvest in Elmhurst, Illinois. "The only part of the market that is really suffering here is technology, which has been the golden child of the markets up until about June." "Investors are starting to realise that there are some holes in the AI story," Nolte added. "And that's having an impact on the indices because they're so heavily weighted toward technology." On the geopolitical stage, Iran-backed Houthis launched new strikes against Saudi targets, sending crude prices to a five-month high. Investors worried that ongoing Middle East strife could keep inflation hot and force the US Federal Reserve to keep raising interest rates. Data from the US Labour Department showed initial claims for unemployment benefits kept drifting along near multi-decade lows. Signs of labour market stability will allow the Fed to focus on fighting inflation. Financial markets are currently pricing in the probability that the central bank will raise its policy rate by another 25 basis points before year-end. The Dow Jones Industrial Average rose 11 points, or 0.02 percent, to 52,867, the S&P 500 lost 93 points, or 1.2 percent, to 7,663 and the Nasdaq Composite lost 694 points, or 2.6 percent, to 26,008. Third-quarter earnings season is well underway, with 111 of the companies in the S&P 500 having reported. Of those, 83 percent have beaten analyst expectations, according to the most recent LSEG data. Procter & Gamble warned that rising cost pressures would take an increasing bite out of profit, but beat analyst estimates, sending the stock 5.6 percent higher and supporting consumer staples. Blackstone advanced 8.4 percent, after the company said widening credit spreads on AI-related debt could present an opportunity to lock in higher returns. Lockheed Martin climbed 7 percent after the aerospace/defence firm raised its annual sales and profit forecast. Spotify rose 11.1 percent after the Swedish music streaming firm forecast fourth-quarter profit above Wall Street estimates, betting on its AI-powered features to drive user growth. Chipmakers Intel, AMD, Sandisk and Marvell all tumbled more than 8 percent amid the broader semiconductor selloff. (Reuters) Edited by Cecil Wong

Oct 22, 2026

Employers Shift Rising Health Care Costs Onto Millions of Workers

New surveys show that increases in premiums and deductibles are forcing people to forgo treatments or doctor’s visits while budgets are strained by higher food and gas prices.

Oct 22, 2026

Why Many Voters Are Unhappy With the Economy

With the midterms approaching, the economy is a top concern for voters. Our chief economic correspondent, Ben Casselman, describes which aspects of the economy have voters so frustrated.

Oct 22, 2026

Stocks retreat as tech mood sours, oil prices jump

Equities sank Thursday as tech firms resumed their downward spiral after a mixed bag of earnings from Wall Street titans, while rising oil prices soured sentiment. AI-linked companies continued the rollercoaster ride they have endured since hitting record highs in June amid worries over colossal investment sums and their timeline for profitability, with growing debt-servicing costs adding to the uncertainty. A blockbuster quarterly report from Elon Musk's SpaceX, its first since listing in June, provided what some hoped would be solid support heading into a crucial earnings season, helping push all three main Wall Street indexes higher Wednesday. But mixed after-hours releases from Meta and Tesla muddied the waters again for investors. Tesla announced lower profits in July-September and cut its capital spending forecast for this year, while Facebook-parent Meta lifted its estimates for how much it would spend on artificial intelligence. Shares of Tesla shed 1.3 percent at the start of trading in New York, while those of Meta slumped 6.7 percent. "Risk-off sentiment is returning amid high geopolitical tensions and a swirl of worries about financing the AI juggernaut," noted Susannah Streeter, chief investment strategist at Wealth Club. Wall Street's main indices moved lower, with the tech-heavy Nasdaq Composite dropping 1.3 percent. The reports come as traders speculate about the AI boom's outlook, with analysts noting that markets fret when firms ramp up spending but also grow concerned when they pull back. "Meta's numbers reinforce the AI investment cycle, but funding is becoming an increasingly important part of the conversation," said Chris Weston, head of research at Pepperstone. "Investors will reward growth and monetisation, yet they're also becoming more sensitive to how the next leg of investment is financed and what it means for existing shareholders," he added. Microsoft, Amazon and Alphabet are due to report next week, with Apple and Nvidia up in November. European stock markets, which feature far fewer major tech firms, were lower in afternoon deals. The Paris CAC 40 shed 1.0 percent amid concerns over France's high government debt and recent violent street protests across the country. Barclays dipped 0.5 percent in London after revealing it would cut about 5,000 jobs by year-end as AI increasingly replaces support roles. Edited by Raymond Yeung

Oct 22, 2026

Evergrande liquidators recover US$435m in asset sales

China Evergrande Group's liquidators have recovered US$435.9 million from asset sales and loan recoveries so far, highlighting the challenge of repaying creditors with claims of about US$46 billion against the developer. In their second progress report since a Hong Kong court ordered Evergrande's liquidation in January 2024, the liquidators, Edward Middleton and Tiffany Wong of Alvarez & Marsal, said on Thursday they aimed to make a first interim dividend payment to creditors in the first half of 2027, although the amount has yet to be determined. Evergrande, once China's top property developer, defaulted on most of its roughly US$300 billion in liabilities. The liquidators said they had raised the US$435.9 million through the sale of assets including aircraft, artwork and club memberships, as well as the settlement of loan receivables. They said 96 of the 107 artworks found at Evergrande's Hong Kong headquarters had been sold for US$28.8 million at a loss. The collection included works by Picasso, Monet and Warhol, as well as sculptures by Moore and Hepworth. Other assets being sold include a private jet expected to fetch about US$12 million in the fourth quarter. The liquidators are also seeking a US$2 million refund from a US university for part of a donation made in 2020. (Reuters) Edited by Edmond Fong

Oct 22, 2026

HSI joins region in retreating amid AI, Hormuz jitters

Regional markets retreated as oil prices jumped more than 2 percent following a report by Iran's state television that seven oil tankers caught fire and were damaged in the Strait of Hormuz. In Hong Kong, the benchmark Hang Seng Index dived 717 points, or 3.03 percent, to 22,934 on turnover of HK$256.05 billion. The tech index plunged 200 points, or 5 percent, to 3,793 while the Chia enterprises index fell 254 points, or 3.2 percent, to 7,689. Dickie Wong, executive director of research at uSmart Securities, said he wasn't bullish in sentiment for the rest of the quarter, given that local stocks fell to a nearly four-month low. "We are now testing new lows, and probably may test a year-low again – 22,500 points. It may have some kind of rebound, but I don't really see much upside amid concerns about the increasing tension between China and US, and weakening of the Hong Kong dollar," he said. "Market sentiment is totally changed, especially AI-related and the tech sector facing regulatory pressure. Those negative factors contributed to this market sell-off." Up north, the benchmark Shanghai Composite Index ended down 55 points, or 1.48 percent, at 3,658. The Shenzhen Component Index dived 347 points, or 2.97 percent, to 11,357 while the ChiNext Index plunged 117 points, or 4.37 percent, to 2,576. Turnover on the main Shanghai and Shenzhen indices amounted to around 1.53 trillion yuan, up from 1.44 trillion yuan on Wednesday. If the Iran report is verified, it would be the largest number of vessels damaged in the waterway in a single day since the Iran war started on February 28 in the wake of attacks by US and Israeli forces. Brent crude, the international standard, gained 3.2 percent to US$112.27 per barrel. It has been bouncing between US$97 and US$112 in recent days on uncertainty about when the war with Iran will allow the global energy industry to return to normal. US benchmark crude rose 2.8 percent to US$99.80 per barrel. AI stocks, at the centre of market action in recent months, are under pressure from worries that construction of data centres may slow as it is becoming increasingly expensive to borrow money. In Tokyo, the Nikkei share average tumbled 1,713 points, or 2.65 percent, to end at 62,907 on heavy selling of big tech companies like SoftBank Group, which lost 6.9 percent. The broader Topix slipped 46 points, or 1.14 percent, to 3,997. In Seoul, the Kospi closed down 201 points, or 3.52 percent, at 5,533 amid chip-sector profit-taking and the central Bank of Korea's hawkish policy stance on further interest rate hikes. (Additional reporting by agencies) Edited by Edmond Fong

Oct 22, 2026

A.I. and Its Dangers Are Embedded In the Midterm Elections

Oct 22, 2026

Featured News

Renting in London - 'I pay £2,000 for one bedroom'

'I live in the dark': How rising bills are shaping daily life

'I'm 96 and have 15 million followers': The grannies taking over TikTok

Grid operator says lights will stay on this winter after concerns

L'Oreal says weight loss drugs are impacting beauty and skincare sales

Latest News

What Is PHP? Why Are Government and Business Websites Going Offline?

Monet Painting Sells for $56 Million in France

Stocks See Steepest Decline in Months Amid A.I. Worries

Mortgage Rates Remain Above 7%, Pushing Home Prices Lower in Some Areas

Zuckerberg wins Meta deal to help him foot bill for possible California billionaire tax

Interesting Read

A.I. and Its Dangers Are Embedded In the Midterm Elections

PHP Security Flaw Sets Off Global Rush to Patch, Leaving Websites Offline

When Do Rules on Historic Preservation Go Too Far?

'I wasn't thinking straight' says five jobs civil servant

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