EUR/USD 1.16610
-0.178%
Gold 3411.50
-0.162%
Oil 63.887
-0.281%
USD/JPY 146.966
0.027%
GBP/USD 1.34969
-0.108%
GBP/JPY 198.365
-0.073%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 29th, Huo Fupeng stated that "AI+" is not only a cutting-edge direction in scientific and technological development, but also addresses the real concerns of the people. Currently, AI is increasingly integrated into all aspects of production and life, empowering countless industries and benefiting millions of households. The "AI+" initiative will drive a shift in consumer spending from "whether or not" to "how good." AI will also accelerate its integration with cutting-edge technologies such as the metaverse, low-altitude flight, additive manufacturing, and brain-computer interfaces, as well as product innovation. This will drive the emergence of new products and new forms, continuously unleashing new consumer potential. In the future, as the "AI+" initiative continues to advance, we will see AI not only making work smarter, learning more efficient, life better, and consumption more enriched, but also making "intelligence" an integral part of every familys daily lives, allowing the fruits of science and technology to benefit everyone.The main contract of the Container Shipping Index (European Line) turned from rising to falling, with a daily drop of 2.00% to 1262.9 points.Japans tariff negotiator Ryomasa Akasawa: Will visit the United States as soon as possible after the necessary arrangements are ready.Japanese tariff negotiator Ryomasa Akazawa: Japanese staff are discussing trade issues in the United States.On August 29th, Huo Fupeng, Director of the Innovation-Driven Development Center of the National Development and Reform Commission, stated at a press conference that by 2027, AI will be widely and deeply integrated with six key sectors. The penetration rate of applications such as new-generation intelligent terminals and intelligent agents will exceed 70%, the scale of core industries in the intelligent economy will grow rapidly, the role of AI in public governance will be significantly enhanced, and the open cooperation system for AI will continue to improve. This phase emphasizes achieving breakthrough applications in key areas, and the next one to two years will be a critical window for the implementation of AI.

Ping An is to be nominated as a board member by HSBC

Charlie Brooks

Aug 01, 2022 10:48

50.png


This week, as the global lender prepares to meet with Hong Kong shareholders, a Hong Kong lawmaker has requested that HSBC separate its Asia subsidiary and appoint Chinese insurer Ping An to its board.


In order to improve shareholder value, Ping An Insurance Group Co., Ltd., the bank's biggest shareholder, asked in April that London-based HSBC consider strategic options such as spinning off its key Asian division.


Several retail investors in Hong Kong who were initially displeased with HSBC's proposal to cease its dividend payout in 2020 have now welcomed the move.


"We advise HSBC to divide its Asian business units. Restoring Hong Kong's main listing is the best way to protect minority shareholders' interests "Hong Kong district council member Christine Fong said in a Sunday Facebook (NASDAQ:META) post.


She said, "Having learnt our lesson from the 2020 dividend cancellation, we wholeheartedly support Ping An's candidacy to the HSBC board."


Approximately 65 percent of HSBC's stated earnings before taxes in 2021 came from Asia, with Hong Kong serving as the bank's biggest market.


The banking giant has hired advisors, including the London-based boutique investment company Robey Warshaw, to assist in a review of its strategy, but has made no direct response to Ping An's inquiries.


Sunday, HSBC did not immediately respond to a request for comment from Reuters.


According to Fong, "more than 500 HSBC retail investors" support the proposal.


The office of Fong did not immediately respond to Reuters' request for comment.


Tuesday will be the first genuine meeting between HSBC management and Hong Kong shareholders since the COVID-19 pandemic. Group Chairman Mark Tucker and Chief Executive Officer Noel Quinn will preside over the meeting.


HSBC is expected to prolong the campaign initiated by Ping An, sources told Reuters earlier this month. The midyear results of HSBC will be released on Monday.


According to them, HSBC might respond by accelerating its exit from non-core markets and dedicating more resources in Asia.

Suggestion