Cathay Pacific Airways CEO resigns, the airline’s board blames ‘recent events’

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.” The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board con


Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.” The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board con
Cathay Pacific Airways CEO resigns, the airline’s board blames ‘recent events’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, events, kong, cathay, hong, confirmed, pacific, resigns, airline, view, step, ceo, statement, recent, hogg, board, airlines, blames, airways


Cathay Pacific Airways CEO resigns, the airline's board blames 'recent events'

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. 13, 2019. The airline announced Hogg’s resignation on Mar.16.

The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.”

The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. Another pilot was then said to have misused company information related to the protests. Both were subsequently sacked by the airline.

In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board confirmed that Hogg would step down as CEO despite there not being any matter that shareholders needed to be made aware of.

“He has also confirmed that he has resigned to take responsibility as a leader of the Company in view of recent events and that he is not aware of any disagreement with the Board,” added the statement.

From Monday, Hogg will be replaced by Augustus Tang. The airline also confirmed that Paul Loo has resigned as an Executive Director and Chief Customer and Commercial Officer and, on Monday, will be replaced by Ronald Lam.

In a separate statement issued by the airline, outgoing CEO Hogg said: “These have been challenging weeks for the airline and it is right that Paul and I take responsibility as leaders of the company.”

Cathay’s chairman, John Slosar, added that it was time to put “a new management team in place who can reset confidence”.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, events, kong, cathay, hong, confirmed, pacific, resigns, airline, view, step, ceo, statement, recent, hogg, board, airlines, blames, airways


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Bond yields are tumbling throughout Asia Pacific

Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets. Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem. Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegge


Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets. Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem. Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegge
Bond yields are tumbling throughout Asia Pacific Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
Keywords: news, cnbc, companies, pacific, bond, asia, week, 10year, bonds, markets, curve, tumbling, yield, yellen, yields, investors


Bond yields are tumbling throughout Asia Pacific

Pedestrians are reflected on a window of a securities company in Tokyo on Aug. 30, 2017.

Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets.

Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem.

Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month.

In Japan, the 10-year yield dropped below the Bank of Japan’s preferred range for the first time last week — falling past -0.2%. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegged at a range of between 0.2% and -0.2%.

Recession fears have roiled markets. The yield on the benchmark 10-year Treasury note broke below the 2-year rate early Wednesday. That so-called yield curve is a bond market phenomenon that’s been a reliable, albeit early, indicator for economic recessions.

The yield on the U.S. 30-year bond also fell to a new low.

While lower-yielding markets, such as Hong Kong, South Korea and Singapore, and mid-yielding markets such as Malaysia and China, have seen rates drifting lower, one analyst told CNBC that investors are staying away from riskier markets — the high-yielding Asia bond markets such as India and Indonesia.

That’s causing the yields of those bonds to go up, said Julio Callegari, a fixed income portfolio manager at J.P. Morgan Asset Management.

“The main reason is that these bond markets are more sensitive to risk aversion — that usually causes depreciation in their currencies and pressure on the yield curve,” he said in an email. “Overall we expect this trend to continue for a while, since broadly speaking economic growth is still slowing in the region and central banks are likely to keep easing monetary policy.”

In the U.S., investors have also been rushing into bonds. The iShares 20+ Year Treasury Bond ETF, TLT jumped 2.1% on Monday, its biggest gain in a year.

Commenting on the recent main yield curve inversion in the U.S., former Federal Reserve Chair Janet Yellen said Wednesday that “it may be a less good signal ” this time around.

“The reason for that is there are a number of factors other than market expectations about the future path of interest rates that are pushing down long-term yields,” Yellen said on Fox Business Network.

— CNBC’s Eustance Huang, Thomas Franck and Patti Domm contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
Keywords: news, cnbc, companies, pacific, bond, asia, week, 10year, bonds, markets, curve, tumbling, yield, yellen, yields, investors


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Asia Pacific stocks edge up as US announces some tariff delays

Stocks in Asia Pacific edged up on Wednesday as the U.S. announced a delay in the implementation of tariffs on some Chinese goods. Meanwhile, the Hang Seng index in Hong Kong was fractionally lower, as of its final hour of trading. Tensions in Hong Kong remained high after the city’s airport saw disruptions for a second day on Tuesday as a result of protests. “We are advising client(s) to cut their exposure towards Hong Kong equity markets and move towards more South Asia markets like Indonesia,


Stocks in Asia Pacific edged up on Wednesday as the U.S. announced a delay in the implementation of tariffs on some Chinese goods. Meanwhile, the Hang Seng index in Hong Kong was fractionally lower, as of its final hour of trading. Tensions in Hong Kong remained high after the city’s airport saw disruptions for a second day on Tuesday as a result of protests. “We are advising client(s) to cut their exposure towards Hong Kong equity markets and move towards more South Asia markets like Indonesia,
Asia Pacific stocks edge up as US announces some tariff delays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, rose, day, index, markets, pacific, way, trading, asia, edge, tariff, kong, delays, tariffs, hong, stocks, announces


Asia Pacific stocks edge up as US announces some tariff delays

Stocks in Asia Pacific edged up on Wednesday as the U.S. announced a delay in the implementation of tariffs on some Chinese goods.

Shares in mainland China rose on the day, with the Shanghai composite gaining 0.42% to 2,808.91 and the Shenzhen component adding 0.72% to 8,966.47. The Shenzhen composite also advanced 0.692% to 1,509.00.

The United States Trade Representative announced Tuesday certain products are being removed from the tariff list and will not face additional tariffs of 10%. Other tariffs will be delayed to Dec. 15 for certain goods, it said.

“A cynical view then is that the delay is purely for political timing rather than a more substantive change in the US’ approach to the US-China relationship,” Tapas Strickland, an economist at National Australia Bank, wrote in a note.

“Overall a high degree of (skepticism) should remain and an imminent deal is unlikely given Trump has foreshadowed he is going to be campaigning hard on the issue in the 2020 election,” Strickland said.

Meanwhile, the Hang Seng index in Hong Kong was fractionally lower, as of its final hour of trading. Tensions in Hong Kong remained high after the city’s airport saw disruptions for a second day on Tuesday as a result of protests.

“In the near term, Hong Kong police might take tougher action and China might be looking to resolve this issue one way or the other way, which is going to be negative for the markets,” Suresh Tantia, senior investment strategist at the Credit Suisse APAC CIO office, told CNBC’s “Street Signs” on Wednesday.

“We are advising client(s) to cut their exposure towards Hong Kong equity markets and move towards more South Asia markets like Indonesia,” Tantia said.

Elsewhere, Japan’s Nikkei 225 rose 0.98% to close at 20,655.13, while the Topix index also advanced 0.87% to end its trading day at 1,499.50.

Over in South Korea, the Kospi gained 0.65% to close at 1,938.37, Australia’s S&P/ASX 200 also rose 0.42% on the day to 6,595.90.

Overall, the MSCI Asia ex-Japan index added 0.62%.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, rose, day, index, markets, pacific, way, trading, asia, edge, tariff, kong, delays, tariffs, hong, stocks, announces


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Shares of Cathay Pacific rebound, but the airline may still be in a ‘very tough place’

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty ImagesShares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5%


A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty ImagesShares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5%
Shares of Cathay Pacific rebound, but the airline may still be in a ‘very tough place’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, safety, pacific, airline, international, airport, rebound, shares, kong, cathay, china, airlines, aviation, hong, tough, place


Shares of Cathay Pacific rebound, but the airline may still be in a 'very tough place'

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty Images

Shares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. Still, “much uncertainty” remains ahead in the market, according to Luya You, analyst for transportation research at Bocom International. “We believe … the most prudent way to treat the stock right now is to downgrade to neutral,” You — who disclosed ownership in Cathay Pacific stock — told CNBC’s “Squawk Box” on Wednesday. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5% in morning trade on Wednesday.

Right now Cathay Pacific is unfortunately stuck in a very, very, very tough place Luya You Analyst for transportation research at Bocom International

Cathay in the spotlight amid protests

You’s comments came as Hong Kong continues to be rocked by protests that have lasted for weeks and have seen outbursts of violence. Recent rounds have left operations at the city’s airport disrupted for two days. For its part, Cathay Pacific has come under increased scrutiny from Beijing, with the Chinese aviation regulatory body issuing a “major aviation safety risk warning” to the airline last week. The Civil Aviation Authority said that “on multiple occasions,” Cathay’s flight personnel have participated in “violent assault,” according to CNBC’s translation. “The incidents pose a serious threat to aviation safety, causing adverse social impact and as a result is increasing inbound aviation safety threats from Hong Kong to the mainland,” it said. It also ordered the carrier to provide identification information for its crew on mainland-bound flights, and said that crew members that do not receive the authority’s approval won’t be allowed into its airspace, including on flights bound for other destinations. Asked if other airlines could benefit from the misfortunes of Cathay Pacific, You said it was possible but “it’s a little bit too early” at the moment, as the Chinese aviation authority was “still waiting” to see the carrier’s response. “If things do significantly … deteriorate then potentially yes, you know, the other airlines such as Air China, China Southern, even foreign airlines at Hong Kong International Airport could benefit from any displaced demand that goes from Cathay to anywhere else,” she said.

‘Very critical period’


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, safety, pacific, airline, international, airport, rebound, shares, kong, cathay, china, airlines, aviation, hong, tough, place


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Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w


Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w
Cathay Pacific suspends pilot for involvement in Hong Kong protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests.

The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. It also confirmed that one of its pilots was removed from his duties since July 30.

The pilot was reportedly among over 40 people charged with rioting, during clashes with police near Beijing’s main representative office in the city.

Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent weeks turned increasingly violent and disruptive.

The rallies, which were started to protest a bill that would have allowed people to be extradited to mainland China, have snowballed into a democracy movement, with some even demanding full autonomy from Beijing.

The unrest has frequently crippled the Asian financial hub’s transportation system and last Monday, Cathay cancelled hundreds of flights during a general strike.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


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Cathay Pacific reveals it’s monitoring passengers with onboard cameras

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras. The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay. The company did not immediately respond to CNBC’s request to reveal the specific locations of the


A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras. The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay. The company did not immediately respond to CNBC’s request to reveal the specific locations of the
Cathay Pacific reveals it’s monitoring passengers with onboard cameras Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: karen gilchrist
Keywords: news, cnbc, companies, onboard, systems, privacy, pacific, data, cameras, passengers, installed, monitoring, cathay, cctv, reveals, policy


Cathay Pacific reveals it's monitoring passengers with onboard cameras

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019

Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras.

The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay.

The airline announced in an updated privacy policy, published at the end of July, that it has been collecting footage of passengers whilst on board and recording their use of its in-flight entertainment system.

“In line with standard practice and to protect our customers and frontline staff, there are CCTV cameras installed in our airport lounges and onboard aircraft for security purposes,” Cathay Pacific said in a statement seen by The Independent.

The company did not immediately respond to CNBC’s request to reveal the specific locations of the CCTV cameras. However, it said in the statement that “there are no CCTV cameras installed in the lavatories” or in their in-flight entertainment systems (IFEs).

The announcement comes months after it was revealed that multiple airlines have cameras installed in their IFE systems. American Airlines, Singapore Airlines and Emirates said at the time that they had no plans to activate their cameras.

Cathay Pacific, for its part, said it has never installed such devices in its IFEs.

“Our inflight entertainment systems do not have any cameras, microphones or sensors to monitor passengers, nor have they in the past,” it said in the statement.

However, the airline, which is often ranked among the world’s best, has come into privacy issues of its own in the past. In October 2018, Cathay reported a data breach that potentially impacted more than nine million passengers.

In its updated policy, the airline said its data collection processes were intended to improve the flying experience and enable greater personalization. However, it added that personal data may also be shared with third-party partners for marketing purposes.

“We will retain your personal data for as long as is necessary,” the policy says.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: karen gilchrist
Keywords: news, cnbc, companies, onboard, systems, privacy, pacific, data, cameras, passengers, installed, monitoring, cathay, cctv, reveals, policy


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These 10 universities produce the most ultra-rich in Asia Pacific

U.S. universities produce the vast majority of the world’s wealthiest grads, according to new research. But, beyond the borders of the booming billionaire hub, higher education institutions globally are minting multimillionaires at a rapid rate. CNBC Make It took a look at research firm Wealth-X’s University Ultra High Net Worth Alumni Rankings 2019 to find out which universities across Asia Pacific have produced the most ultra-wealthy alumni — defined as those with a net worth of $30 million or


U.S. universities produce the vast majority of the world’s wealthiest grads, according to new research. But, beyond the borders of the booming billionaire hub, higher education institutions globally are minting multimillionaires at a rapid rate. CNBC Make It took a look at research firm Wealth-X’s University Ultra High Net Worth Alumni Rankings 2019 to find out which universities across Asia Pacific have produced the most ultra-wealthy alumni — defined as those with a net worth of $30 million or
These 10 universities produce the most ultra-rich in Asia Pacific Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, net, university, known, universities, ultrawealthy, wealthxs, asia, sample, produce, pacific, worth, ultrarich, alumni


These 10 universities produce the most ultra-rich in Asia Pacific

U.S. universities produce the vast majority of the world’s wealthiest grads, according to new research.

But, beyond the borders of the booming billionaire hub, higher education institutions globally are minting multimillionaires at a rapid rate.

CNBC Make It took a look at research firm Wealth-X’s University Ultra High Net Worth Alumni Rankings 2019 to find out which universities across Asia Pacific have produced the most ultra-wealthy alumni — defined as those with a net worth of $30 million or more.

To produce the list, Wealth-X first collected a sample of ultra-wealthy individuals known to have a diploma, including both undergraduate and graduate degrees, from colleges and universities around the world, and tallies their total wealth as a group. Researchers then used that sample and Wealth-X’s database to estimate how many super-rich alumni each school has likely graduated in total.

The overall ranking is based on the known ultra-wealthy alumni population from each university.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, net, university, known, universities, ultrawealthy, wealthxs, asia, sample, produce, pacific, worth, ultrarich, alumni


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Asia Pacific stocks broadly decline amid expectations of less aggressive Fed

Stocks in Asia saw broad declines on Friday, amid expectations the U.S. Federal Reserve could be less aggressive than expected with monetary policy when it meets next week. Mainland Chinese shares recovered from an earlier dip to end the trading day higher, as the Shanghai composite rose 0.24% to 2,944.54 and the Shenzhen component advanced fractionally to 9,349.00. The Topix index declined 0.4% to end its trading day at 1,571.52. In South Korea, the Kospi declined 0.4% to finish its trading day


Stocks in Asia saw broad declines on Friday, amid expectations the U.S. Federal Reserve could be less aggressive than expected with monetary policy when it meets next week. Mainland Chinese shares recovered from an earlier dip to end the trading day higher, as the Shanghai composite rose 0.24% to 2,944.54 and the Shenzhen component advanced fractionally to 9,349.00. The Topix index declined 0.4% to end its trading day at 1,571.52. In South Korea, the Kospi declined 0.4% to finish its trading day
Asia Pacific stocks broadly decline amid expectations of less aggressive Fed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: eustance huang
Keywords: news, cnbc, companies, asia, fund, day, saw, shenzhen, gained, amid, stocks, fed, pacific, index, slipped, shares, broadly, decline, aggressive, trading, expectations, reported


Asia Pacific stocks broadly decline amid expectations of less aggressive Fed

Stocks in Asia saw broad declines on Friday, amid expectations the U.S. Federal Reserve could be less aggressive than expected with monetary policy when it meets next week.

Mainland Chinese shares recovered from an earlier dip to end the trading day higher, as the Shanghai composite rose 0.24% to 2,944.54 and the Shenzhen component advanced fractionally to 9,349.00. The Shenzhen composite also gained slightly to 1,573.45.

Hong Kong’s Hang Seng index fell 0.69%, as of its final hour of trading, after the city reported Thursday that it saw its biggest annual drop in exports in almost three and a half years in June.

The Nikkei 225 in Japan slipped 0.45% to close at 21,658.15, as shares of index heavyweight Softbank Group gained 1.09% after the conglomerate launched Vision Fund 2, the sequel to its landmark investment fund. The Topix index declined 0.4% to end its trading day at 1,571.52.

Shares of automaker Nissan Motor dropped 3.21%, after the company announced Thursday it would slash 12,500 jobs worldwide following a 95.5% drop in its first-quarter operating profit.

In South Korea, the Kospi declined 0.4% to finish its trading day at 2,066.26. Australia’s S&P/ASX 200 also shed 0.36% to close at 6,793.40 as most sectors fell.

Meanwhile, Tokyo could rule to remove Seoul from a so-called white list with minimum trade restrictions as soon as August 2, Reuters reported Friday, citing Japan’s Kyodo news agency.

Overall, the MSCI Asia ex-Japan index slipped 0.59%.


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: eustance huang
Keywords: news, cnbc, companies, asia, fund, day, saw, shenzhen, gained, amid, stocks, fed, pacific, index, slipped, shares, broadly, decline, aggressive, trading, expectations, reported


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