Hong Kong expects to earn $4.5 billion from trading fees this financial year

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FILE PHOTO: A Stock Exchange of Hong Kong (HKEX) sign is seen at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

HONG KONG (Reuters) – The Hong Kong government estimates it will earn HK$35 billion ($4.52 billion) in revenue in the current financial year from the 0.1{fbc7a75af74adfbeb2d3baecdf7daa64e5d3521205059ee8f1fef6bec19bbc34} ‘stamp duty’ charged on stock transactions as a result of high trading volumes, a minister told lawmakers.

The HK$33.23 billion earned from the levy in the 2019-2020 financial year ended March 31, 2020, accounted for about 5{fbc7a75af74adfbeb2d3baecdf7daa64e5d3521205059ee8f1fef6bec19bbc34} of government revenue, Christopher Hui, Hong

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Britain to regulate buy-now pay-later credit after lockdown surge

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LONDON (Reuters) – Britain will introduce rules for buy-now pay-later (BNPL) credit after the unregulated market spiked as consumers struggled during coronavirus pandemic lockdowns, the UK’s finance ministry said on Tuesday.

BNPL, particularly popular with young people shopping for clothes, is offered by companies such as Clearpay, which is owned by Australia’s Afterpay Ltd, Klarna, LayBuy, Openpay and Paypal.

It is quick to obtain such interest-free short-term loans that spread the payment for retail goods.

“By stepping in and regulating, we’re making sure people are treated fairly and only offered agreements they can afford – the same protections you’d expect

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Santander Takes $1.4 Billion Profit Hit on Spain Job Cuts

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(Bloomberg) — Banco Santander SA took a 1.15 billion-euro ($1.4 billion) charge in the fourth quarter as the bank booked costs for job cuts and branch closures to counter persistently weak revenue from lending in Europe.



a sign in front of a sunset: The headquarters of Banco Santander SA stands in Boadilla del Monte, outside Madrid, Spain, on Friday, July 24, 2020. Banks in Italy and Spain, among the most exposed to swings in European sovereign bonds, don’t plan to make use of capital relief intended to soften the impact of potential losses from such debt.


© Bloomberg
The headquarters of Banco Santander SA stands in Boadilla del Monte, outside Madrid, Spain, on Friday, July 24, 2020. Banks in Italy and Spain, among the most exposed to swings in European sovereign bonds, don’t plan to make use of capital relief intended to soften the impact of potential losses from such debt.

Fourth-quarter net income fell to 277 million euros, Spain’s

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Bunker Fuel Market Size, Trends, Companies, Driver, Segmentation, Forecast to 2027

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The MarketWatch News Department was not involved in the creation of this content.

Feb 03, 2021 (Market Insight Reports) —
Selbyville, Delaware Global Bunker Fuel Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Bunker Fuel Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Bunker Fuel market and provides information regarding the revenue for the period 2020 to 2027.

Global Bunker Fuel Market is valued approximately at USD 121 billion in 2019 and is anticipated to

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Pandemic pushes Exxon to historic annual loss, $20 billion cut in shale value

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HOUSTON (Reuters) -Exxon Mobil Corp on Tuesday posted a historic annual loss after the COVID-19 pandemic hammered energy prices and the company reduced the value of shale gas properties by more than $20 billion.

FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

Exxon last year slashed spending on new projects by nearly a third, outlined plans to cut up to 15{fbc7a75af74adfbeb2d3baecdf7daa64e5d3521205059ee8f1fef6bec19bbc34} of its workforce while adding $21 billion to its debt to cover spending and restructuring.

The changes

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Shiseido Selling Personal-Care Business to CVC for $1.5 Billion

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(Bloomberg) — Shiseido Co. agreed to sell its shampoo and affordable skincare business to CVC Capital Partners in a deal worth 160 billion yen ($1.5 billion), as the Japanese cosmetics maker places more of its focus on making and selling high-end beauty products.



a close up of a piano keyboard: Palettes of Shiseido Co. eye shadow sit on display at the company's news conference in Tokyo, Japan, on Wednesday, Aug. 1, 2018. The company is overhauling its entire Shiseido makeup line and replacing it with a new collection that marries popular Western trends with Japanese flair for minimalist design and packaging that appeals to a younger crowd drawn to Asian beauty brands.


© Bloomberg
Palettes of Shiseido Co. eye shadow sit on display at the company’s news conference in Tokyo, Japan, on Wednesday, Aug. 1, 2018. The company is overhauling its entire Shiseido makeup line and replacing it with a new collection that marries popular Western trends with Japanese flair for minimalist design and packaging that appeals to a

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