Morgan Stanley plans to start cutting about 50 investment-banking jobs in the Asia-Pacific region this week, with at least 80% of the reductions in Hong Kong and China, people familiar with the matter said.
Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.
More than 40 of the 50 jobs the Wall Street firm plans to cut will be from Hong Kong and mainland China. Morgan Stanley joins a host of banks that have laid off bankers this year.
As China approves new cryptocurrency ETFs, expectations rise for a significant price surge in Bitcoin, Ethereum, and XRP. These developments amidst fierce competition between Hong Kong and U.S. markets for
China's top official on Hong Kong affairs said the city should "tightly hold" onto the bottom line of national security to safeguard development, in a speech coming weeks after the enactment of sweeping new security laws.
Hong Kong think tank says annual water use by Chinese data facilities - almost half of which are in dry regions - could more than double by 2030 It takes 20 times more water to have a ChatGPT conversation than to run a Google search,
China's economy grew by a consensus-beating 5.3 per cent in the first quarter of 2024, but retail sales and industrial output data missed economists' estimates The property market remained subdued with new home prices falling 0.