SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
The 2019 PGA Championship wraps up on Sunday, May 19. Here's how much money the champion will earn.Earnread more
Trump's relationships with Deutsche Bank have drawn scrutiny in Congress and elsewhere. Trump sued the bank last month to prevent it from complying with Congressional...Financeread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Retailread more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
While the prolonged fight has been devastating to an already-struggling agriculture industry, there's little indication Trump is paying a political price.Traderead more
Such a move, however, is highly unlikely, according to one analyst who follows the Asian gaming sector. The reason, according to Jonathan Galligan, head of Asia Gaming and Conglomerates at CLSA: the U.S. casinos have played an important role in helping China achieve its economic development goals for the former Portuguese colony.
Macau was ruled by Portugal for more than four centuries before being returned to China in 1999. Like nearby Hong Kong, which was a British colony for a century and a half but returned in 1997, Macau is now a special administrative region of China.
U.S. President Donald Trump is threatening Beijing with tariffs potentially covering the entire amount of Chinese exports to the U.S. as he seeks to reduce his country's deficit in goods and extract concessions on other bilateral flash points such as technology and intellectual property. China, for its part, has responded with its own tariff threats, but its large trade surplus means it can't match the U.S. tit for tat.
That has led to speculation it might seek to apply pressure on the U.S. in other ways, such as making it more difficult for American companies doing business in the country.
Galligan said that such a scenario is seen as a risk by some investors in the gaming sector.
"But you would need to see the trade war deteriorate significantly before that would be brought on to the table because I don't think it's in the interest of China to do that," Galligan told reporters on Wednesday at the annual CLSA Investors' Forum in Hong Kong.
Macau's gaming environment has changed dramatically since the end of a government monopoly and foreign operators began to be given casino concessions from 2002. Big American names Sands, Wynn and MGM now operate there.
Galligan thinks that they are safe, not least for having made strong efforts toward an important policy goal for China: diversifying to offer visitors more entertainment options beyond gambling at their resorts.
"I think, ultimately, the Chinese will take a very rational view on Macau," Galligan said, citing the authorities' desire for it to be successful as a tourist destination.
"Negatively putting pressure on certain operators is not how you're going to achieve that ultimate goal," he said. "And I think the Chinese will probably rise above the rhetoric of the trade spat to recognize that the current competitive environment in Macau doesn't need political headwinds that would stifle investment."