HONG KONG—Hong Kong flagship carrier Cathay Pacific Airways said on Saturday two of its aircrew who have tested positive for the Omicron variant were sacked for breaching medical surveillance regulations. Cathay said five of its aircrew had tested positive following their return to Hong Kong from duty, and investigation into the cases had indicated a…
Cathay Pacific Sacks Two Aircrew for Breaching COVID-19 Rules
January 1, 2022
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China’s Offshore Listing Rules Seen Easing Market Uncertainty
HONG KONG—China’s plan to tighten scrutiny over mainland companies’ overseas share sales is likely to ease the regulatory uncertainty that roiled financial markets this year and stalled offshore listings, bankers and analysts said. But the securities regulator’s new filing-based system, designed to rein in once freewheeling Chinese listings in the U.S. market and elsewhere, leaves…
Protesters Storm Guadeloupe Legislature Over Vaccine Rules
PARIS—Protesters angry over virus and vaccine rules occupied Guadeloupe’s regional legislature because of stalled negotiations over their grievances about management of the French Caribbean island. Regional Council President Ary Chalus agreed to a meeting with some of the protesters’ representatives, the council said on Twitter after Thursday’s incursion. Officials in Guadeloupe and Paris denounced the…
Food Delivery Shares Rise Ahead of EU Draft Rules on Gig Workers
AMSTERDAM—Shares in ride-sharing and food delivery companies rebounded on Tuesday, ahead of an European Commission proposal expected Dec. 9 that will define when couriers should be considered employees and when they should be considered independent contractors. The Financial Times on Tuesday reported that the proposal, under development for years, will as expected put the burden…
Reforming Global Trade Rules Is Tough but Doable: WTO Chief
December 1, 2021
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GENEVA—The head of the World Trade Organization stressed the importance of reforming the global trade body to prevent further trade wars but warned it would be “very tough” amid high geopolitical tensions. The 27-year-old global trade body, under pressure to prove its relevance, was due to have held a major ministerial meeting this week and…
EU Seeks to Forge New Global Trade Rules With US
December 1, 2021
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BRUSSELS—The European Union has experienced a “breakthrough year” with the United States even if not all trade irritants are gone and now wants to work with its transatlantic ally to start forging trade rules for the future, the EU trade chief said. “One can say that this year was indeed a breakthrough year for EU–U.S….
Federal Reserve to Ban Top Officials From Buying Individual Stocks, Restricting Trading
The Federal Reserve on Thursday banned individual stock purchases by top officials who work at the central bank and placed limits on other activities. The new rules come several weeks after reports of active trading by high-level Fed policymakers triggered calls for an ethics investigation. Now, the fed will implement rules limiting the types of…
New Rules Needed to Cover Risks From Cloud Computing, Says Bank of England
LONDON—New rules will be needed to deal with operational risks from banks relying on outsourced ‘cloud’ computing from Amazon, Google, Microsoft, and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to have primary responsibility for managing risks stemming from their outsourcing and third-party dependencies,” the BoE’s…
Swiss Propose Liquidity Rules Costing Banks Little or Nothing Extra
ZURICH—Switzerland proposed updated rules to ensure major banks hold enough liquidity to absorb shocks, but the draft changes will cost banks little or nothing in additional capital and liquidity holdings, government documents showed on Thursday. The proposed revisions, which were sent into consultation on Thursday, aim to ensure that systemically important banks (SIBs)—which include Credit…
US Housing Regulator Proposes Tweaks to Capital Rules for Fannie Mae, Freddie Mac
WASHINGTON—The regulator overseeing housing giants Fannie Mae and Freddie Mac proposed on Wednesday changes to recently imposed capital and leverage requirements on the pair. The proposed rule from the Federal Housing Finance Agency would encourage the pair to shift more risk from taxpayers to private investors, while allowing them to support the housing market, the…
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