August 11th, 2011
01:25 PM GMT
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In episode 36 of "The Boss" there's no rest for Francis Lui as he meets with his senior managers to discuss what's working and what isn't in the newly opened Galaxy Macau.

And in New York, Steve Hindy gets his first glimpse of the gleaming new tanks that will help transform the future of his company.

Filed under: The Boss


August 11th, 2011
09:44 AM GMT
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Hong Kong, China (CNN) – It’s not as bad as it could have been for Asia-Pacific markets following Wednesday’s 4% falls on the U.S. indices.

The Nikkei slumped 0.63% but a dark milestone looms ahead. The index continues to near its lowest close in the past five months. Financial-related stocks led today’s declines. Japan’s largest bank, Mitsubishi UFJ, fell 1.9%. Sumitomo Mitsui dropped 1.8%. In a one-two punch, the yen is again nearing a post-war high. A stronger yen hurts Japan’s exporters – when they repatriate earnings made overseas they receive less yen in the exchange. Automakers Honda and Nissan each fell close to 3.5%.

In Greater China, Hong Kong’s Hang Seng index fell 0.95% paring earlier losses. Major financial-related stocks were again hit. HSBC Holdings and Bank of China both closed down about 3.5%. On the mainland, the Shanghai Composite managed an early afternoon rally to end higher by 1.27%. Speculation is growing the People’s Bank of China may keep interest rates steady which is helping to calm investor jitters.

On the Korean peninsula, the Seoul KOSPI managed to eke out a gain of 0.62%. Investor confidence rose after South Korea’s central bank, the Bank of Korea, announced it would keep its benchmark interest rate on hold at 3.25%.
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Filed under: AsiaBusiness


August 11th, 2011
01:01 AM GMT
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London (CNN) – As world markets remain in turmoil and economists bet on a return to recession, hedge fund managers are being given another chance to prove they are worth their hefty pay packets.

Hedge funds are similar to mutual funds in that they raise capital from investors and pool it together.

But it’s what they do with that money that makes them different.

Like other funds, they measure their performance against an index buying stocks, bonds, commodities and currencies. Yet, hedge funds also use an array of sophisticated investment techniques which allow them to make money not just when markets are rising but when they are falling as well.
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