HSBC to assume full ownership of China insurance joint venture


HSBC Insurance (Asia) Ltd has announced that it will acquire the remaining 50% of shares in HSBC Life China, its life insurance joint venture in China, from The National Trust Limited.

The move, according to HSBC’s statement, is in line with the removal of foreign ownership restrictions on life insurance companies in China, which took effect on January 01.

The transaction will be structured as a transfer of equity interest and is subject to regulatory approvals, including from the China Banking and Insurance Regulatory Commission.

HSBC Life China, which was formed in 2009, offers annuity, whole life, critical illness, and

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Nissan restructuring may assume cut of 1 million cars to annual sales target: sources


TOKYO/BEIJING (Reuters) – Nissan Motor Co Ltd’s (7201.T) management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said.

FILE PHOTO: A Nissan logo is pictured during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song/File Photo

Even before the spread of the coronavirus, Nissan’s sales and profits had been slumping and it was burning through cash, forcing it to row back on an

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Fauci warns Americans shouldn’t assume hydroxychloroquine is a ‘knockout drug’


Director of the National Institute of Allergy and Infectious Diseases Anthony Fauci speaks during the daily briefing on the novel coronavirus, COVID-19, in the Brady Briefing Room at the White House on April 1, 2020, in Washington, DC.

Mandel Ngan | AFP | Getty Images

Americans shouldn’t assume hydroxychloroquine is a “knockout drug” in preventing or treating COVID-19, White House health advisor Dr. Anthony Fauci warned Friday.

“We still need to do the definitive studies to determine whether any intervention, not just this one, is truly safe and effective,” Fauci, the director of the National Institute of Allergy and Infectious

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