Thu. Jun 30th, 2022

What to watch in Asia today

China and its markets stay holiday for national week until Thursday.

Hong Kong markets reopen today, after we picked up Friday for the same holiday.

Japanese Parliament Former Foreign Minister Fumio Kishida will officially electMr Status Quo“, As the country’s prime minister.

Sunak promises £ 500m to bolster UK workforce as stock crisis at Tories

Chancellor Rishi Sunak will set aside £ 500 million on Monday to help people in the UK find work, as the government struggles with an “adjustment period” following Brexit, which has caused acute labor shortages in some sectors.

At the start of a Conservative conference in Manchester, overshadowed by a shortage of fuel and warnings about the disruption of Christmas, Sunak will insist the government has a plan to strengthen the workforce.

The £ 500m support package – aimed at those leaving the scheme and older workers – comes after Prime Minister Boris Johnson refused to fill holes in the labor market by pulling ‘the big leverage that indicates uncontrolled immigration’.

Johnson insisted that a shortage of truck drivers and butchers was part of an ‘adjustment period’ to an economy with better salaries and conditions. He agreed with Sunak that disruption could last ‘months’.

Read more here.

Former HSBC chief investment officer to join General Atlantic

One of HSBC’s top executives is leaving a full-time position at Europe’s largest credit provider to become a senior adviser to $ 50 billion technology investor General Atlantic.

Samir Assaf, who has run the investment bank for a decade, will retain a role and advise HSBC chairman Mark Tucker and CEO Noel Quinn. He will also continue to be non-executive chairman of HSBC’s subsidiaries in the Middle East.

In addition to an advisory role at General Atlantic, Assaf will join the board of a new climate change fund, BeyondNetZero, established by the US private equity firm. The fund is managed by Lord John Browne, the former CEO of BP, and aims to provide growth to new companies with technology that can help reduce carbon emissions.

HSBC and General Atlantic both confirmed the appointments. General Atlantic describes Assaf’s role as ‘acquiring, developing relationships with entrepreneurs around the world and supporting portfolio companies’.

Read more here.

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