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US law firm cuts off Hong Kong lawyers from international databases. Equity hedge funds face $150bn in client withdrawals over 5 years. Bitcoin price reaches $50,000 after spot ETF launches. Chinese financier turns small businesses into data gold mine.
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Quick takeaways
- Beijing's crackdown on Hong Kong is causing concerns for global companies, with Latham and Watkins restricting access to its international database, reflecting the challenges faced by businesses in conducting operations in the city.
- Equity hedge funds, especially those using the long short strategy, have experienced significant outflows of roughly $150 billion over the past five years, leading to doubts about their long-term prospects and highlighting the impact of central bank interventions and a prolonged bull market.
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Beijing's crackdown on Hong Kong is affecting global firms
Beijing's recent crackdown on Hong Kong is causing concerns for global companies doing business in the city. For example, Latham and Watkins, a top law firm, has restricted access to its international database, requiring special permission. This is part of a wider pattern of companies facing difficulties in conducting business in Hong Kong, jeopardizing its reputation as an international finance hub.
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highlights
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