Investors Turn HK Red Taxis Into New Bubble Market

Aug. 8 (Bloomberg) -- Allan Shek, the owner of a Hong Kong shop selling gold and jade jewelry, says he's made millions on the side by riding wild swings in the stock market and by buying into the city's property boom. No more. Last month, he bought five Hong Kong taxis and the licenses to operate them. Seven or eight of his friends have bought taxis too, he says. The run-up is sparking warnings of yet another investment bubble in a city that's no stranger to them. (Source: Bloomberg)

Aberdeen CEO Gilbert: 'Never, Ever' Looking to Sell
05:11 - Martin Gilbert, chief executive officer at Aberdeen Asset Management, confirms that he has no plans to sell the firm and discusses dealing with outflows. He speaks on "Bloomberg ‹GO›." (Source: Bloomberg)
  • Will Banks Have a ‘Reservoir Dogs’ Ending?
  • CoCo Primer: What They Are and How They Work
  • Aberdeen CEO Gilbert: In Era of Very Slow Growth