About This Source - Bloomberg QuickTake: Now
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Bloomberg Quicktake: Now published this video item, entitled “Hong Kong Apple Daily Arrests Not a Tool to Suppress Media: Carrie Lam” – below is their description.
Leader Carrie Lam says foreign governments are accusing Hong Kong authorities of using the China-imposed national security law to suppress the media and freedom of expression after the arrest of top execs from Apple Daily, the flagship newspaper of media tycoon Jimmy Lai.
“Don’t try to underplay the significance of breaching the national security law and don’t try to beautify these acts which of endangering national security, which the foreign governments have taken so much to their heart whenever they talk about things that they are doing,” said Lam.
Next Digital Ltd. plans to stop publishing Apple Daily later this week if authorities don’t allow access to its bank accounts, and will make a final decision on Friday, the pro-democracy newspaper reported on Monday.
In an internal memo at the newspaper, a senior editor said online news would stop at 11:59 p.m. on Friday night and the final print edition would be distributed on Saturday if the funds remain frozen. In a staff meeting, managers offered to allow reporters to quit immediately, according to people familiar with the situation who asked not to be named.
“In theory, if the company decides to shut down on Friday and lay off employees, there may be an additional month of payment in lieu of notice, but no one can guarantee that,” said the memo seen by Bloomberg News. “The wish of the management is for everyone to stay till the end, but the risks are unpredictable. Everyone should make their own decisions.”
Representatives for Apple Daily didn’t immediately respond to a request for comment.
Hong Kong national security officials are blocking the newspaper’s bank accounts, and it may need to close its print and digital operations unless authorities allow access to the funds, Mark Simon, a top adviser to Lai, said earlier on Monday. Companies that regularly do business with the newspaper tried to deposit money in its accounts on Friday but were prevented from doing so, he said.
The paper had roughly HK$521 million ($67 million) in cash at the end of March and said it was able to keep operating for 18 months from April 1 without any new injection of funds from Lai, according to an exchange filing. Trading in Next Digital shares is suspended.
Simon said the authorities’ decision to block access to that money is effectively shutting down the company. “It’s the government that decides if Apple Daily stays or goes,” he said. “Once they get rid of us, who’s next?”
Apple Daily Is Running Low on Funds to Print Hong Kong Newspaper
Hong Kong’s moves to arrest Lai and target Apple Daily editorial staff have alarmed foreign governments and human rights groups, which say China and the Beijing-backed local administration are undermining constitutionally guaranteed freedoms in the Asian financial hub.
Hong Kong police arrested five senior staff at the media organization on Thursday and froze HK$18 million in company assets. Around 500 police officers descended on Apple Daily’s headquarters, searching offices, barring journalists from their desks and carting away nearly 40 computers belonging to editorial staff.
Some teams have already told part-time staff including interns that there’s no need to show up at the office or keep working for the paper, according to three reporters and editors who asked not to be identified. Some staffers were planning to leave for other jobs after the raid on Thursday, they said, adding that they were worried that companies or media outlets won’t hire anyone who worked at the paper.
The newspaper, which cheered on Hong Kong’s unprecedented pro-democracy protests in 2019, has been under increasing pressure since China imposed a national security law on the city last year.
Lai, a media tycoon and well-known democracy advocate, is in jail for attending unauthorized protests. The city’s Security Bureau had earlier frozen some of Lai’s assets and sent letters to some of his bankers, threatening them with years in jail if they deal with any of his accounts in Hong Kong.Bloomberg Quicktake: Now YouTube Channel
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Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.