Danielle Saba

Japanese investment firm ORIX Group is in talks to back Hilco Global to help support the financial services business’s growth ambitions, said two sources familiar with the matter. Orix is expected to pay out over USD 1bn over several years to senior Hilco executives as part of the deal, the sources said.

As businesses seek out new ways to raise money, venture capitalists could start to fund some early stage businesses through crowdsourcing rather than relying on institutional investors, according to the latest research.

PHILIPPE LOPEZ | AFP | Getty Images While the world's attention is focused on China as it moves from heavy manufacturing to a more service-based economy, Hong Kong is undertaking its own important shift in focus. Where once it specialized in manufacturing goods to ship to the world, Hong Kong is now reinventing itself as a financial technology hub where innovation thrives.