Hong Kong's taxi industry has cancelled a planned strike by 1,000 drivers after the government promised to take stronger action against illegal ride-hailing services. The strike was called off temporarily following the government's offer.
The taxi industry was unhappy with the government's inaction against app-based services like Uber and a proposed demerit-point system to penalise drivers for misconduct. The industry's difficulties have not garnered much public sympathy.
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Nomura cuts about 10 investment banking jobs in Hong KongSYDNEY : Japanese investment bank Nomura Holdings has laid off about 10 of its Hong Kong-based investment bankers, including some who were focused on China-related deals, said two sources with direct knowledge of the matter.
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