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News in a Nutshell - 20 December

By Julie Magno 20 December 2015
No time to read the news last week? Here's a roundup of some of the news that mattered, from faecal matters through family squabbles to law and order.

The smear that wasn't

Something that lawmaker Kenneth Leung claimed smelled like faeces rubbed off onto his jeans from under a table in the Legislative Council Saturday, 12 December. Shocking, except that subsequent laboratory tests suggest that the substance was simply wood adhesive.

Keep on copying, until next year at least

Attempts to debate updates to the Copyright bill were once again derailed by filibustering mayhem in Legistlative Council, and the debate will now continue in on January 6, 2016. The Government and many business leaders believe the bill needs to be updated to protect copyright in the digital age; others believe it will allow the prosecution of satirists if they repurpose content for political commentary or ridicule. Others have proposed alternative amendments.

Our "very competitive and diverse" retail market

[caption id="attachment_44084" align="alignright" width="300"]A nice profit A nice profit, even allowing for shipping.[/caption] On the other hand, the Hong Kong Competition ordinance came into effect on December 14. This law prohibits cartel conduct, abuses of market power and other forms of anti-competitive conduct, with some exceptions. Could this mean we see our prices drop, and less laughable pricing such as that pictured right? Not when, as was reported in the SCMP, a representative of Li Ka-shing's AS Watson (ParknShop and Taste) said the city's retail market was "very competitive and diverse". Cough, cough

Sibling squabble slays the goose

The famous Yung Kee charcoal roasted goose restaurant is set to be wound up by liquidators as the HK$1.2billion offer put forward by the younger Kam brother’s party for the purchase of the 45% share of the older brother’s party was deemed not enough to seal a deal. However all is not lost; third generation Kams lost interest in the family squabble last year and set up their own restaurants in Tin Hau and Wanchai. And you never know, the original restaurant may yet rise again in another form. And so the goose may rise once again from the ashes, to mix up our metaphors.

But sometimes family inheritance does work out

A UBS/PwC report informed us that the proportion of female to male billionaires continues to rise in Hong Kong, but only about 10% of those women are self-made, the rest being lucky enough to inherit their wealth. We suppose the prices in Taste won’t worry these women too much.