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HSBC plans to buy out the remaining shares of Hang Seng Bank for HK$155 per share, delisting it and maintaining its brand. The move aims to streamline operations, address rising bad debts from Hong Kong’s property slump, and reinforce HSBC’s commitment to Hong Kong’s future as a financial hub. The deal is expected to close in mid-2026.
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Copper futures on the London Metal Exchange reached a record $11,200 per metric ton, driven by supply disruptions and rising demand from energy and AI sectors. Major miners report lower output, with forecasts indicating a market deficit next year amid geopolitical and environmental challenges. The outlook remains bullish but cautious.
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A court in South Africa has reopened an inquest into the death of anti-apartheid leader Albert Luthuli, more than 50 years after his death was ruled accidental. The move aims to investigate allegations that he was killed by apartheid police, with the original 1967 ruling now under review amid suspicions of a cover-up.
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Industry leaders and pension funds are lobbying the UK government to increase domestic investment, with proposals to require pension schemes to allocate at least 25% of assets to UK equities. Meanwhile, a major burger chain is up for sale, and industry voices warn of fiscal risks ahead of the upcoming budget.
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BHP has ended its attempt to acquire Anglo American after being rebuffed, focusing on its own growth. Meanwhile, Anglo prepares to merge with Teck Resources in a deal valued at $53 billion, with shareholder votes scheduled for December 9. The move signals a shift in the mining sector's consolidation efforts.