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Deal with Hong Kong-based PAG could provide exit at a discount for US pension funds
...Hong Kong’s Accounting and Financial Reporting Council said in 2021 it was investigating PwC’s audit of Evergrande’s 2020 accounts....
...In an interview with the Financial Times, Luboff said the new fund would apply “modest leverage” in its deals and focus on “geographies where we felt the track record, as well as the supply of opportunities...
...In 2018, EG handed the companies €39mn in unsecured, interest free loans which they used to buy the jets, the Financial Times reported in 2022....
...The move underscores the growing difficulties for global companies operating in a city that made its name as an international financial hub....
...sold its stakes in Chinese companies including TikTok owner ByteDance, as the group seeks to reassure US partners by cutting ties with China. 42XFund, the $10bn technology investment arm of G42, told the Financial...
...Still, the requirement by some companies that staff take separate devices sits uneasily with Hong Kong’s recent attempts to burnish its credentials as a global financial centre....
...Their share prices have surged over the past half-decade, particularly as they have switched from partnership to corporation status, a move that obliges them to pay more tax but makes it easier for mutual...
...To tell us more about what’s going on, I’m joined by the FT’s Asia financial correspondent, Kaye Wiggins. Hey, Kaye. Kaye Wiggins Hi, Sonja. Sonja Hutson So Kaye, this is a huge drop in profits....
...Marc Filippino Kaye Wiggins is our Asia financial correspondent. Thanks, Kaye. Kaye Wiggins Thank you....
...Chief financial officer Georges Elhedery said last year that the bank was considering selling or scaling back businesses in 12 countries, though he did not say which....
...[MUSIC PLAYING] Marc FilippinoKaye Wiggins is the FT’s Asian financial correspondent. Thanks, Kaye. Kaye WigginsThanks, Marc....
Emerging-markets lender announces $1bn stock buyback as fourth-quarter profits surge almost tenfold
...Georges Elhedery, the bank’s chief financial officer, said that if conditions were right, “we remain intent to have a rolling series of share buybacks”....
...Lehman’s scattered entities around the world had well-documented assets — including property and financial instruments such as derivative positions — that could be sold to return cash to creditors....
...A new version of this is being built in China, DD’s Kaye Wiggins and the FT’s Cheng Leng and Hudson Lockett report....
...Ant’s efforts to expand its financial empire have been slowed since then. It was hit by a regulatory crackdown in late 2020 when its $37bn initial public offering was derailed....
...“In China, the story is the unbelievable size the market has become, combined with innovation,” he said in an interview with the Financial Times in June....
...“We are committed to developing onshore,” said Citi’s chief financial officer Mark Mason during an earnings call this month....
...“There may be situations where the mainland courts will refuse to recognise Hong Kong winding up orders,” Hong Kong’s Department of Justice said in November in response to a written query from the Financial...
...kaye.wiggins@ft.com...
...“We started to observe a very visible [rise]” in pharmacies’ sales, Li tells the Financial Times....
...Evergrande did not immediately respond to a request for comment from the Financial Times....
...Aguzin’s successor Chan is a “hands-on” and “open minded” person, said Robert Lee, a lawmaker representing the city’s financial services sector....
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