The boss of HSBC has joined a growing chorus of bankers cautioning Rachel Reeves against increasing taxes on banks in her autumn budget, warning it risked “eroding” investment and ultimately harming UK growth. Georges Elhedery, its chief executive, said banks in the UK were already subject to the highest level of taxes on profits compared with other sectors, and paid more than in most other countries. He said placing further financial pressures on lenders could spell trouble for the UK economy. “Additional taxation on banks does run the risk of…
Tag: Hong Kong
Hong Kong issues arrest warrants for 19 activists based overseas
Hong Kong’s national security police have issued arrest warrants for 19 activists based overseas, accusing them of subversion under a stringent national security law, marking the largest such tally yet. They are accused of organising or participating in the Hong Kong Parliament, a pro-democracy group that authorities in the Asian financial hub say intended to subvert state power, under the law Beijing imposed in 2020 after months of pro-democracy protests in 2019. The activists are accused of having launched a referendum or run as candidates in the unofficial Hong Kong…
Map: Tracking Typhoon Wipha
1-day forecast precipitation Precipitation intensity Very light Heavy Extreme 1-day risk Share of customers without power Sources and notes NYT
Hong Kong code of conduct will oblige legislators to ‘sincerely support’ Beijing
A new code of conduct in Hong Kong will require legislators to “sincerely support” Beijing’s jurisdiction on the city and the chief executive, and prohibits anything that might “vilify” the government. The proposal for the new code, introduced on Wednesday, included tiered penalties for legislators who breach the code, including suspension without payment for the most serious offences. It stipulated that legislators must “sincerely support the central government’s overall jurisdiction while securing the Hong Kong SAR’s [special administrative region’s] high degree of autonomy”, as well as the principle of “patriots…
Swarms of tiny nose robots could clear infected sinuses, researchers say
Swarms of tiny robots, each no larger than a speck of dust, could be deployed to cure stubborn infected sinuses before being blown out through the nose into a tissue, researchers have claimed. The micro-robots are a fraction of the width of a human hair and have been inserted successfully into animal sinuses in pre-clinical trials by researchers at universities in China and Hong Kong. Swarms are injected into the sinus cavity via a duct threaded through the nostril and guided to their target by electromagnetism, where they can be…
Hong Kong teachers allegedly told to avoid US Independence Day events
Teachers in Hong Kong have been warned to keep themselves and students away from any US Independence Day celebrations as they may breach national security laws, educators have alleged. A text message purportedly sent by the principal of a Hong Kong school to staff said the education bureau’s regional education office had reminded them “to be careful about Independence Day activities organised by the US consulate in Hong Kong, and not to participate to avoid violating the national security law and Hong Kong laws”. The text was published on Edu…
Hong Kong police tell people not to download ‘secessionist’ mobile game
Hong Kong police have warned people against downloading a Taiwan-developed mobile game which they say is “secessionist” and could lead to arrest. The game, Reversed Front: Bonfire, allows users to “pledge allegiance” to various groups linked to locations that have been major flashpoints or targets for China including Taiwan, Hong Kong, Tibet, Uyghurs, Kazakhs and Manchuria, in order to “overthrow the communist regime” known as the “People’s Republic”. While some aspects and place names of the game’s worldview are imagined, the website says the game is “a work of NON-FICTION”…
Jailed Hong Kong democracy activist Joshua Wong hit with new charges
Jailed pro-democracy activist Joshua Wong has been hit with further national security charges, a move rights groups said showed the Hong Kong government was trying to keep dissidents behind bars for as long as possible. Wong, a well-known activist who has been in jail for more than four years either awaiting trial or serving sentences, is accused of conspiracy to collude with a foreign country. He appeared in court on Friday to hear the charge and did not apply for bail. Hong Kong’s national security police said in a statement…
Hong Kong releases second group of democrats jailed for four years in national security trial
Four people jailed in the landmark national security trial of the “Hong Kong 47”, the pro-democracy figures accused of conspiracy to commit subversion, were freed on Friday after more than four years behind bars, the second group to be released in a month. Among those freed was longtime political and LGBTQ activist Jimmy Sham, who also led one of Hong Kong’s largest pro-democracy groups, the Civil Human Rights Front, which disbanded in 2021. CHRF was one of the largest pro-democracy groups in the former British colony and helped to organise…
Shein turns to Hong Kong for flotation as London attempt stalls, reports say
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London. The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters. It said Shein plans to go public in the Asian financial hub this year, which would scotch hopes of…