Hong Kong crypto exchange CoinEx to shut down after 9 years
CoinEx processed just over US$70 million in 24-hour trading volume, according to CoinGecko.
HSBC Holdings has ended an extensive education benefit for new hires and senior staff transferring to Hong Kong, scaling back a well-known perk for the city's banking professionals. The decision, announced by chief executive Georges Elhedery, aims to streamline costs amid an ongoing restructuring effort. Existing band-three employees and managing directors currently receiving the benefit will continue to do so.
New recruits and transfers at those levels will no longer qualify. The subsidy, which covers 95% of school fees up to HK$300,000 (S$48,800) annually per child in secondary school, has long been a significant recruitment tool for mid-level and above staff. HSBC's Hong Kong business segment employs over 30,000 staff and generated US$7.8 billion in pretax profit during the first half of the year.
International school fees have surged since the pandemic, adding to the cost burden for expatriate and local families.
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