Battered Hong Kong faces economic recession, existential crisis

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Battered Hong Kong faces economic recession, existential crisis
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As one of the world's most important trade and business hubs, Hong Kong was...

The Catering and Hotel Industries Employees General Union told Reuters employers had asked some of its members to take non-paid leave this month because of the downturn in business.

BlackRock Inc , the world’s largest asset manager, has postponed a two-day September conference at the Four Seasons Hotel until February “so that as many partners as possible from across Asia are able to join.” But analysts warn that in the current climate, handouts are ineffective as firms and consumers are in no mood to spend.

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