Patrick Tang

The Internet company owned by Hong Kong's richest man, Li Ka-shing, severed ties with Google's search services Wednesday, sparking concerns that other companies may also pull away from the Web giant. Stressing its adherence to China's laws, Hong Kong-listed TOM Group issued a statement on behalf of subsidiary TOM Online following Google's decision to stop censoring its Chinese search engine on Monday. TOM, which runs online and mobile Internet services in mainland China, said it had stopped...Read Full Story

The Internet company owned by Hong Kong's richest man on Wednesday severed ties with Google's search services, sparking concerns that other companies may pull away from the Internet giant. Stressing its adherence to China's laws, Hong Kong-listed TOM Group issued a statement on behalf of subsidiary TOM Online following Google's decision to shut down its Chinese search engine on Monday. TOM, which runs online and mobile Internet services in mainland China, said in a statement it had stopped...Read Full Story

One of Hong Kong's richest tycoons has paid about 233 million US dollars for a property in the city's upmarket Peak area, confounding hopes of a cool-down in the real estate market. Henderson Land Development Chairman Lee Shau-kee paid 68,229 Hong Kong dollars (8,750 US dollars) per square foot for the site in the Peak's Barker Road at a public auction, said real-estate services firm Jones Lang LaSalle, which organised the sale on Tuesday. The 82-year-old's son, Martin, made light of the...Read Full Story

MACAU/HONG KONG ( Reuters ) - Macau casino magnate Stanley Ho has sued family members in a bid to recover billions of dollars of assets in another bizarre U-turn to a feud over the ailing tycoon's empire. Ho, chairman of Macau's biggest casino operator, SJM Holdings , hours earlier had gone on television to say he would not sue and that he wanted to resolve the matter privately with his family. The latest move in the zig-zag tussle for the 89-year-old tycoon's billions of dollars of assets...Read Full Story

A Hong Kong tycoon abandoned his controversial $2 billion plan to take over the city's biggest telecom company Thursday after a court blocked the deal, handing regulators and minority shareholders a high-profile victory. Richard Li, chairman of fixed-line operator PCCW, said in a statement he and his buyout team would let the proposal lapse rather than extend its date for completion following Wednesday's unanimous decision by a three-judge appeals panel rejecting the effort. Li said he was...Read Full Story

Hong Kong tycoon Richard Li Tuesday lodged an appeal against a court decision that blocked his controversial 2.1 billion US dollar buyout bid for telecoms giant PCCW, a spokesman said. The PCCW chairman, through his investment vehicle Pacific Century Regional Developments (PCRD), gave notice that it will challenge the Court of Appeal's decision to halt the privatisation, a PCRD spokeswoman told AFP. Li's move came a day after a written judgement concluded that a February shareholder vote to...Read Full Story

Hong Kong tycoon Carson Yeung said Monday he has offered 57.13 million pounds (94.7 million US) to buy English Premier League team Birmingham City, promising money to buy new players. Yeung, whose Hong Kong-listed Grandtop International has a 29.9 percent stake in the club, said the firm would raise 785 million Hong Kong dollars (100.6 million US) through an open offer of shares for the acquisition. The businessman's latest attempt to seize control of the newly promoted side came after his...Read Full Story

A court Tuesday rejected applications by Hong Kong tycoon Richard Li to overturn a court decision blocking his controversial 2.1 billion US dollar buyout bid for telecoms giant PCCW. PCCW chairman Li moved to appeal in May after a judge ruled against the plan in April, saying a shareholder vote on privatisation had been manipulated. The Court of Appeal Tuesday said it would explain its decision in a written judgement at a later date. The long-running saga has gripped the financial hub, as it...Read Full Story

HONG KONG ( Reuters Life!) - A Hong Kong tycoon paid $16.7 million on Wednesday for a quartet of Chinese cloisonne cranes at a Christie's sale in Hong Kong that also saw strong prices paid for high-end Chinese ceramics amid a white-hot streak in the market. While parts of Europe have plunged into a debt crisis and the U.S. economy remains stagnant, China 's antique-loving millionaires are splashing out on rare Chinese antiques and ceramics, driven by cultural patriotism and potential...Read Full Story

A man who says late Hong Kong tycoon Nina Wang was his lover has been accused of basing his claim to her fortune on a will which was only to be used as part of a feng shui ritual, a court heard. Tony Chan, a feng shui master, told Wang to draw up a will to be burnt later to give her long life as part of the ancient Chinese practice, according to an expert report submitted by Wang's family to the city's high court. Instead Chan kept the document and used it to claim her estate, the court was...Read Full Story