Bloomberg Business

PAG Chief Buys Century-Old Hong Kong Villa for $70 Million

Investment firm PAG’s co-founder Chris Gradel bought a century-old villa in Hong Kong for HK$550 million ($70 million), taking ownership of one of the few remaining pre-war premises along the Sassoon Road.

China RRR Cut Gives Bigger Growth Boost Than Rate Move

China’s economic growth will get a bigger boost if the central bank cuts the reserve requirement ratio for banks rather than interest rates, according to research from Bloomberg Economics.

Swatch Dares Malaysia to Confiscate Rainbows After Pride Watches Raid

Multiple raids on Swatch Group AG’s stores in Malaysia over their sale of Pride-themed rainbow watches has sparked a furious response from the watchmaker and raised renewed doubts about the commitment of the nation’s six-month old coalition government to LGBTQ rights.

Metals Markets Face Grueling Summer as Chinese Demand Falters

Big conferences often crystalize the prevailing sentiment in markets. So it’s probably no coincidence that copper has dived below $8,000 a ton and iron ore is trading south of $100 after metals luminaries gathered in Hong Kong and Singapore to chew over the parlous state of global demand and China’s recovery.

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