Apple Daily News
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Next Media Ltd. shares fell the most in two weeks after the Hong Kong-based publisher and broadcasting company agreed to sell its money-losing Taiwan television unit to a rival at a loss.
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Li Ka-shing, Asia’s richest man, dominates half of the capacity at Hong Kong’s port, where a two week-long strike threatens to send traffic to Shenzhen. That won’t hurt Li. The billionaire controls that port as well.
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China praised Margaret Thatcher, the former U.K. prime minister who died yesterday, as an “outstanding statesman” for agreeing the 1997 return of Hong Kong to Chinese rule.
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Hong Kong billionaire Jimmy Lai said he won’t attempt to sell his Taiwan newspaper and magazine business again after failing to do so earlier this week, Hong Kong-based Apple Daily reported today.
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Chong Hing Bank Ltd., the Hong Kong lender partly owned by the Liu family, rose to a two-year high in local trading after a report that shareholders will send a signal they’re ready to sell.
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Hong Kong billionaire Jimmy Lai’s sale of his Taiwan newspaper and magazine collapsed amid protests that the NT$16 billion ($536 million) deal would silence a critical voice on China and give the buyers too much control of the island’s media.
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Next Media Ltd., controlled by billionaire Jimmy Lai, suspended trading in Hong Kong today a day ahead of the deadline to complete the NT$17.5 billion ($586 million) sale of its Taiwan print and TV assets.
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Henry Tang, who lost a bid to become Hong Kong’s chief executive after the discovery of an illegal wine cellar at his house, sold HK$48 million ($6.2 million) from his collection.
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More than 10,000 Hong Kong parents and activists plan to protest against perceived Communist propaganda in a government education program, the Apple Daily newspaper reported.
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Emerging-market stocks erased this week’s gains, led by commodity producers, after Chinese manufacturing data trailed estimates and as $85 billion of spending cuts were set to be triggered in the U.S.
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