The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Having an office in Hong Kong is getting pricier.
Hong Kong's population — numbering more than 7 million — has a limited amount of land to potentially inhabit, which has positioned Hong Kong to be the world's most expensive housing market. Now, a number of mainland Chinese firms are moving in and driving up costs of already expensive office space.
"Strong demand coupled with low vacancy in the CBD (central business district) has kept the office market robust and prices have reacted," Tom Gaffney, Regional Managing Director of CBRE's Greater Bay Area & Hong Kong region, told CNBC.
Office space in Hong Kong's Central now costs $306 per square foot per year, on average. That's 30 percent higher than the second highest area, London's West End, which came in at only $235 per square foot.
"The lack of new office supply in the CBD will also be limited for the coming few years, reinforcing Hong Kong’s standing as the world’s priciest office market," Gaffney added.
Banking and finance are the key sectors driving prime office demand, with additional increases coming from co-working spaces.
Mainland Chinese firms, particularly banks, prefer the prestigious Central district when choosing office space, Gaffney said, citing several large recent dealings which closed in the second quarter.
The area is so popular that vacancy rates in Central Hong Kong stand at just about 1-percent, according to CBRE.