Latest Corporate News News
Only 7% of Companies Achieve Full Compliance in Global Expansion
A CSC study reveals just 7% of organizations report full compliance across global entities, with 53% at 50-75% compliant, amid accelerating international growth and regulatory pressures in 2026. Surveyed 350 general counsel across Europe, North America, and Asia Pacific for the General Counsel Barometer 2026 report.
Uber Warns Ride-Hailing Cap Could Double Wait Times, Raise Fares 70%
Uber cautions that a proposed cap of 10,000-15,000 ride-hailing licenses would fail to meet demand, causing four failed attempts per 10 during peaks, doubled wait times, and 70% fare increases, impacting over 15,000 drivers. Reported in Hong Kong morning recap.
World Bank Urges Pacific Economies to Prioritize Jobs and Resilience
Pacific growth projected to slow to 2.8% in 2026 due to fuel, shipping costs, and shocks; report advocates 'jobs-first' strategy in tourism, agribusiness, infrastructure amid eroding fiscal buffers. Highlights water systems' role in business growth.
US Issues Sanctions on 12 Iran-Linked Entities Over China Oil Sales
US sanctions three Iran-based individuals and nine companies in Hong Kong and UAE for facilitating Iran's oil shipments to China, targeting evasion of prior restrictions. Aims to curb illicit oil trade networks.
S&P 500 Edges Higher on AI Optimism Despite Iran Tensions
S&P 500 closed slightly up, driven by AI fervor offsetting stalled US-Iran talks and rising crude prices stoking inflation fears at end of earnings season. Reflects mixed market sentiments.
Boeing, Citigroup, Qualcomm Execs to Join Trump on China Visit
US President Trump's May 13-15 China trip includes executives from Boeing, Citigroup, and Qualcomm poised for deals with Chinese firms, testing fragile US-China trade truce. First such presidential visit in nearly a decade.
Bank of America Nears Settlement in Epstein Victim Lawsuit
Bank of America is close to settling a lawsuit from Jeffrey Epstein victims, as noted in breaking financial crime news alongside FinCEN warnings. Part of ongoing corporate legal resolutions.
Customs Seizes HK$24M Illicit Cigarettes in Warehouse Raid
Hong Kong customs seized 5.4 million untaxed cigarettes worth HK$24 million (duty HK$18 million) in Kwai Chung, arresting a 59-year-old man in anti-smuggling operation. Highlights ongoing illicit trade challenges for logistics firms.
FinCEN Warns of Increased Vigilance for World Cup Money Laundering Risks
US FinCEN issues alert for heightened financial crime vigilance during World Cup, urging firms to monitor risks amid global events. Part of expanded border and event-focused guidance.
CLP Power Restores Outage Affecting 5,700 Customers in 28 Minutes
Power outage hit 5,700 in Hong Kong's Tsing Yi, disrupting lights and traffic, but most restored within 28 minutes by CLP Power. Underscores utility resilience in urban operations.